Crypto News Roundup: Circle's NYSE Debut, XRP's Dubai Boost, and More

Circle, the company behind USDC, just made its debut on the New York Stock Exchange after upsizing its

IPO to $1.05 billion due to massive investor demand.

CEO Jeremy Allaire called it a 'powerful milestone' for the internet financial system.

The listing gives Circle a $6.9 billion valuation, and crypto leaders like Michael Saylor and Coinbase’s Paul Grewal

were quick to congratulate the team.

This move signals growing mainstream acceptance of stablecoins and crypto finance.

Ripple’s RLUSD stablecoin just got regulatory approval in Dubai, sparking a surge in XRP’s price and renewed institutional

interest.

Major firms like VivoPower and Webus International are now backing XRP, and Germany’s DZ Bank has adopted Ripple’s

custody platform.

However, XRP Ledger activity has dipped, hinting at less retail engagement even as institutional support grows.

Analysts are split on whether XRP can keep up its momentum, but Dubai’s move is a big win

for Ripple.

JPMorgan is set to allow clients to use crypto ETFs, starting with BlackRock’s iShares Bitcoin Trust, as collateral

for loans.

This marks a major step for traditional finance embracing digital assets.

The bank will also consider crypto holdings when assessing client net worth, treating them like traditional assets.

JPMorgan’s move could pave the way for more banks to integrate crypto into their lending and wealth management

services.

Coinbase has launched wrapped versions of XRP and Dogecoin on its Base blockchain, letting holders tap into DeFi

opportunities and earn yields.

The wrapped XRP hit a $5 million market cap in just 24 hours, while wrapped DOGE is nearing

$2 million.

This move boosts interoperability and gives XRP and DOGE holders new ways to use their assets beyond simple

trading.

Hong Kong’s securities regulator is set to allow professional investors to trade crypto derivatives, expanding the city’s virtual

asset market.

With crypto derivatives volumes far outpacing spot trading, this move could make Hong Kong a major hub for

advanced crypto products.

The city recently passed a bill to license stablecoins, showing its commitment to becoming a global crypto leader.

The crypto market is down today, with most top coins in the red.

Bitcoin is trading just under $105,000, and Dogecoin dropped over 3%.

Meanwhile, Botanix launched a decentralized Bitcoin blockchain with a 16-node federation, and HashPower secured $4 million to expand

decentralized mining and AI infrastructure.

Plus, BYDFi and Ledger released a limited-edition hardware wallet for key opinion leaders.

Bitcoin advocates predict that tech leaders like Elon Musk and Coinbase’s Brian Armstrong may soon go full Bitcoin

maximalist, citing the ballooning US debt as a key reason.

Musk warned, 'Interest payments already consume 25% of all government revenue.' As the US debt ceiling rises, more

investors see Bitcoin as a hedge against monetary instability.

If these leaders publicly back Bitcoin, it could shift institutional sentiment even further.