Dig Deeper, Invest Smarter
ChatGPT users have raised an alarm over a lengthy network outage for the artificial intelligence (AI) chatbot. The downtime offers a glimpse into the future without AI tools amid skyrocketing dependence and adoption levels as OpenAI pushes for a quick fix. ChatGPT Hit By Massive Downtime, Sparking Unease For Users OpenAI’s ChatGPT is facing a
The post Global Panic As OpenAI’s ChatGPT Suffers Five-Hour Outage appeared first on CoinGape.
The Ripple USD (RLUSD) stablecoin has witnessed a surge of over 100% in its 24-hour trading volume. This development has occurred thanks to recent developments in the Ripple ecosystem, which will ultimately boost the stablecoin’s adoption.
CoinMarketCap data shows that the Ripple USD stablecoin volume has surged by 120% in the last 24 hours, indicating increased activity around the stablecoin. This development is a positive for the stablecoin, which launched in December last year but has already achieved a market cap of almost $300 million.
The recent surge in the RLUSD stablecoin’s volume is thanks to developments such as Ripple’s 1.25 billion acquisition of the prime broker Hidden Road.
Following the announcement of the acquisition, the crypto firm mentioned that the move would reinforce the stablecoin’s position as an “enterprise-grade USD-backed stablecoin with real utility” as the prime broker leveraged it as collateral across its prime brokerage products.
As such, the stablecoin is already enjoying wider adoption, although the Hidden Road deal is still subject to regulatory approval. Another reason the Ripple USD stablecoin’s volume has surged is due to the crypto firm’s integration of the stablecoin into its payment service.
As CoinGape reported, Ripple integrated its stablecoin with its cross-border payment service, setting up the stablecoin for more enterprise adoption. With Ripple’s payment service booming, especially with the SEC lawsuit, the stablecoin will continue to enjoy wider adoption,, and its trading volume will likely continue to surge in the foreseeable future.
The RLUSD stablecoin’s volume has also surged thanks to Kraken’s recent listing of the stablecoin. Earlier this month, the top crypto exchange announced that the stablecoin is now available for trading, with deposits and withdrawals enabled. Kraken’s listing further provides more utility for the stablecoin as traders move to trade several crypto assets in their RLUSD pair.
Meanwhile, it is worth mentioning that the stablecoin’s surge undoubtedly provides a bullish outlook for XRP, as this surge indicates that more capital is flowing to the XRP Ledger (XRPL), which is also home to the altcoin.
The post Here’s Why Ripple USD (RLUSD) Stablecoin Volume Spiked Over 100% appeared first on CoinGape.
Despite recent signs of recovery across the broader cryptocurrency market, sentiment around Ripple’s XRP remains bearish. The altcoin continues to struggle below $2.20, as more traders are now betting that the price will dip further.
Traders appear unconvinced that the token will stage a meaningful price surge in the near term, with many continuing to bet against its upside potential.
According to Coinglass, there has been a consistent increase in short positions targeting XRP. The token’s long/short ratio has remained below 1 for nearly two weeks, reflecting a growing preference for short trades. At press time, this ratio sits at 0.93.
The XRP Long/Short ratio compares the number of long positions (bets that the price will rise) to short positions (bets that the price will fall) in a market.
When an asset’s long/short ratio is above 1, there are more long than short positions, indicating that traders are predominantly betting on a price increase.
Conversely, as with XRP, when the ratio is below one, traders are betting on a price decline. The long/short ratio remaining below 1 for some days highlights a prevailing bearish sentiment in the XRP market, signaling expectations of further downside.
Additionally, XRP’s weighted sentiment has stayed in negative territory, reaffirming the bearish outlook. As of this writing, it is at -0.40.
The weighted sentiment analyzes social media and online platforms to gauge the overall tone (positive or negative) surrounding an asset.
When this metric’s value is negative like this, it points to heightened sell-side pressure and fading investor confidence. This puts XRP at risk of extending its price dip.
With short interest climbing and bearish bias strengthening, XRP risks slipping below the $2 mark. If the current trajectory continues and selling pressure intensifies, a decline under this psychological threshold could materialize in the near term.
In that scenario, XRP’s price could reach $1.99 and fall toward the year-to-date low of $1.61.
However, a resurgence in new demand for the altcoin could invalidate this bearish projection. In that case, XRP’s price could break above $2.29 and trend toward $2.50.
The post XRP Short Bets Increase as Price Risks Falling Below $2 appeared first on BeInCrypto.
US Treasury Secretary Scott Bessent was sharply questioned today by the House Financial Services Committee about Trump-affiliated World Liberty Financial (WLFI) and its new USD1 stablecoin.
Congressional Democrats questioned Bessent whether no-interest stablecoins linked to Trump’s crypto ventures could mask hidden subsidies.
World Liberty Financial, founded in 2024 with close Trump‑family ties, raised about $550 million in late 2024 by selling its governance token. The Trump family is entitled to roughly 75% of net revenues.
In March, WLFI launched USD1, a dollar‑pegged token backed by US Treasuries and cash equivalents.
Within weeks, Abu Dhabi’s state‑backed MGX agreed to deploy $2 billion of USD1 on Binance, instantly pushing USD1 into the top tier of stablecoins by market cap.
Rep. Brad Sherman noted that at a 4% market rate, the deal effectively grants WLFI and its Trump owners an $80 million annual subsidy. He asked whether this “interest‑free loan” should count as hidden support.
“Abu Dhabi just announced that they were going to give $2 billion to a stablecoin put forward by World Liberty Financial, and it pays no interest. So you and I are both finance people. Just want to check my math, assuming a 4% rate of return. Is this interest‑free loan of $2 billion worth $80 million every year to WLFI and its Trump owners?” Sherman said.
To his knowledge, Bessent said he had not reviewed the token’s expense ratio and maintained that no stablecoins pay interest. He added that no regulator has formally labeled such purchases as hidden subsidies.
Lawmakers warned this structure could mask political favors. They urged the Treasury to clarify when stablecoin deals cross into improper support.
The hearing drew on a New York Times investigation. That report revealed secret multimillion‑dollar “endorsement” pitches under the Trump name, sales to foreign firms, and policy shifts benefiting WLFI.
It said WLFI crossed the boundary between private enterprise and government policy without precedent.
“In a statement, a spokeswoman for President Trump noted that his assets are in a trust managed by his children. And as a result, there are no conflicts of interest. The trust still benefits President Trump directly,” the NY Times report claimed.
Democrats on the committee said they will pursue legislation that requires full expense‑ratio disclosures for stablecoins. They also want to ban no‑interest structures that serve as de facto subsidies.
Such rules, they argue, are vital to ensure transparency and prevent conflicts when politically connected firms enter crypto markets.
BeInCrypto has reached out to World Liberty Financial to understand their stance on such allegations and scrutiny.
The post Bessent Grilled by House Committee on World Liberty Financial and USD1 Stablecoin appeared first on BeInCrypto.