Cointelegraph senior reporter Rachel Wolfson spent a day exploring NFT NYC 2022 to learn about emerging nonfungible token projects,or NFTs, and how the sector may advance. A recent market report published by Verified Market Research (VMR) predicts that the NFT market could reach a value of $230 billion by 2030. NFT NYC 2022 certainly demonstrated the potential of the NFT sector, highlighting some of the most promising use cases and industry experts. For instance, Camila Russo, founder of The Defiant and author of The Infinite Machine, told Cointelegraph that NFT products should advance to bring value to holders, whether that …

A U.S. think tank has launched a “technical sandbox” aimed at advancing the exploration of a potential United States central bank digital currency (CBDC). In an Aug. 31 Tweet from Digital Dollar Project (DDP), the organization said the new program would explore “technical and business implementation” questions revolving around a U.S. CBDC. The organization noted that the initial participants of the sandbox include crypto-firm Ripple, financial technology company Digital Asset, software platform Knox Networks and banking solutions firm EMTECH. The ‘Technical Sandbox Program' aims to give the federal government, policymakers, and the private sector a clearer understanding of how a …

A partnership between the Colombian government and Ripple Labs to put land titles on the blockchain appears to have stalled following the project being "deprioritized" by the new administration. The project was initially announced by the outgoing government’s Ministry of Information Technology and Communications just two weeks before the newly elected president Gustavo Petro was sworn into office. According to an Aug. 30 report from Forbes, the interim director of the National Lands Agency Juan Manuel Noruega Martínez said the project is not part of the agency’s strategic priorities for 2022, stating: “This isn’t one of the projects defined in …

Ripple Labs General Counsel Stu Alderoty has hit back at a recent opinion piece by Security and Exchange Commission chairman Gary Gensler, arguing that the regulator's crypto market shakedowns aren’t protecting consumers. In an Aug. 28 opinion piece on the Wall Street Journal (WSJ) titled “The SEC Wants to Be America’s Crypto Cop,” Alderoty claimed the SEC is “pushing aside his follow regulators” instead of concentrating on providing regulatory clarity for crypto. He gave an example of the recent “shakedown” of BlockFi by the SEC, which led to the company ending “up on the auction block” and two other similar …

Ripple CEO Brad Garlinghouse took to Twitter to deny recent explosive claims made by Crypto Leaks, an online publication focusing on corruption and fraud-related news in the crypto ecosystem. Crypto Leaks published a report on Friday containing a series of short videos from an unknown source. The report claimed that Ava Labs formed a secret pact with the law firm to use the American legal system “gangster style” to “attack and harm crypto organizations." The same report also alleged that Ripple CEO Brad Garlinghouse funded a law firm to target competitor firms. The report claimed Roche, who founded Roche Freedman, …

XRP price saw a major spike on Aug. 26, hinting at a possible effect from some big traders. Large XRP transfers, Ripple Swell Global event Notably, XRP's price jumped 6% to $0.37, a two-week high, during the early London hours. The token's upside move occurred hours after its network processed three massive transfers worth $51 million involving crypto exchanges Bitso and FTX, as highlighted by Whale Alert. XRP's gains also came as a part of a broader upside move that started on Aug. 25, a day after Ripple announced its flagship event, "Ripple Swell Global," to be held in London …

David Schwartz, the chief technical officer of Ripple, didn’t take Ethereum co-founder Vitalik Buterin’s dig on XRP very kindly. In a discussion that started around the recent $30,000 limit imposed by the Ontario crypto exchange on altcoins purchases barring Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). Buterin, in a quoted response to a tweet, lauded the Ethereum community’s pushback against regulations that privilege ETH over other legitimate cryptocurrencies. David Hoffman, the founder of decentralized media and education platform Bankless.eth responded to Buterin and said that he wouldn’t have minded if they had restricted XRP. XRP already lost their right …

A whopping 76% of surveyed financial institutions plan on using crypto within the next three years, according to the report. Ripple's new report highlights trends in the adoption and utilization of emerging technologies like crypto and blockchain in enterprise and financial institutions. Both financial institutions and enterprises are understanding the benefits of internal crypto usage. The most common reason is that crypto gives more people access to more financial services, says 42% of financial institutions and 41% of enterprises. According to the survey, portfolio management and payments come forward as the most valuable additions to the enterprise world. Portfolio management …

A “killer app” for consumers is what will be needed to bring the decentralized finance (DeFi) sector to a level that draws in a mainstream audience, said Ripple Lab’s head of DeFi markets Boris Alergant. Alergant nade the comments during a panel at the Blockchain Futurist Conference titled "The Future of Decentralized Finance" on Aug. 9, which was covered by Cointelegraph reporters on the ground in Toronto, Canada. Alongside Alergant, Aventus Ventures CEO Kevin Hobbs, FLUIDEFI co-founder and CEO Lisa Loud, and Teller Finance CEO and co-founder Ryan Berkin also featured on the panel. The general sentiment among the panelists …

The United Kingdom is paving the road for cryptocurrency services, courting startups and established players alike while leading the way in pioneering regulation on stablecoins and nonfungible tokens. But a lot has changed. After two years of deliberations, European Union lawmakers achieved agreement on the Markets in Crypto-Assets (MiCA) regulation, marking a pivotal moment for harmonized supervision of the sector on such a scale. This followed United States President Joe Biden’s executive order recommending a whole-of-government approach toward the responsible development of digital assets within the United States. The U.K. has also seen major political shifts during this period, including …

The United States Securities and Exchange Commission (SEC) has suffered a blow in its case against Ripple after a U.S. judge denied its claims for attorney-client privilege regarding internal documents related to the “Hinman speech.” In denying the motion on Tuesday, U.S. Magistrate Judge Sarah Netburn called out the SEC’s hypocrisy in arguing that the speech — in which a former official Bill Hinman suggested Ether (ETH) was not a security — was a personal matter for Hinman while also claiming it should be protected because he received legal advice from the SEC to confirm the commission’s policies: “The hypocrisy …

Former Ripple Labs founder Jed McCaleb is nearing the end of his eight-year Ripple (XRP) dump marathon, with only 81.53 million XRP, worth $26.55 million at the time of writing, remaining in his wallet’s balance. According to Jed Balance, a website tracking his XRP holdings, McCaleb’s wallet name “tacostand” has been shedding an average of 4.06 million XRP over the last month but has ramped up daily transfers to 7.34 million XRP, worth $2.39 million, since Sunday. At the current rate of selling, his wallet may be depleted within the next two to three weeks, to the delight of the …