Today, @Ripple announced the acquisition of Hidden Road for $1.25B, one of the largest deals ever in the crypto space. But the price tag isn’t what’s most important – it’s that this deal marks a once-in-a-lifetime opportunity for crypto to access the largest and most trusted traditional markets, and vice versa.
Prime brokers (along with other key functions historically managed by banks for the most part) like Hidden Road have proven themselves as *the* trusted intermediary for the largest hedge funds, market makers, OTC desks, quant traders and more. Ripple has been a customer of Hidden Road for years, and we know their breadth of expertise firsthand, clearing $3 TRILLION annually for 300+ of the top financial institutions globally.
This is the capital and activity that will tap into XRP and the XRP Ledger’s bread-and-butter – instant, efficient, scalable and low cost movement of value. Instead of waiting for <24 hours to settle trades through fiat rails, Hidden Road will be using XRPL for clearing a portion of trades, and most consequentially, using RLUSD as collateral across its prime brokerage services, including cross-asset (crypto and traditional instrument) trades.
With this deal and the backing of Ripple’s significant balance sheet, Hidden Road will exponentially expand its capacity to service its pipeline and become the largest non-bank prime broker globally.
Ripple and Hidden Road combined are a generational leap forward, ready to truly bring the worlds of traditional and decentralized finance together. https://t.co/UYOOyQ21dG
🔊 $RLUSD @ripple is now available for trading on Kraken!
✔️ Deposits and withdrawals are enabled
🎉 Trading is now live!
Trade here ⤵️
https://t.co/EbU16A6sy0
*Geographic restrictions apply
Gary Gensler will be fired very soon. Congratulations to all #XRP hodlers and #Ripple believers! The case with the #SEC will come to an end shortly! 🚀🚀🚀
.@realDonaldTrump, Congratulations!
Some fodder for your first 100-day checklist to get things moving:
- Fire Gensler. Day 1, no delays.
- In his place, appoint Giancarlo, Brooks, or Gallagher – they’d be massive upgrades in rebuilding the rule of law (and reputation) at the SEC.
- Host a family dinner and get the Rs and Ds moving the digital asset market structure bill forward in the Senate.
- And last but not least, can we get some clarity…..similar to XRP and BTC, that ETH is not security, right?!
@JohnEDeaton1 has been a relentless advocate for the XRP Army (aka XRP Family!) and the entire crypto industry. Meanwhile, his opponent, @SenWarren spreads misinformation and lies about crypto.
I endorse John enthusiastically and wholeheartedly in his run for Senate.
For those of you in a position to do so, I encourage you to donate to his campaign (as I have!) whether it’s $10 or $100, it all counts.
And most importantly… VOTE FOR HIM if you’re in Massachusetts!
Kicking off Ripple Swell with a bang!
RLUSD has been nearly a year in the making, and with our trusted exchange partners, market makers, and advisory board, RLUSD is set to become the gold standard for enterprise-grade stablecoins—built on trust, liquidity, and compliance.
The SEC asked for $2B, and the Court reduced their demand by ~94% recognizing that they had overplayed their hand. We respect the Court’s decision and have clarity to continue growing our company.
This is a victory for Ripple, the industry and the rule of law. The SEC’s headwinds against the whole of the XRP community are gone.