It's been a busy week in crypto, from fee processor Stripe buying stablecoin platform Bridge to Ripple co-founder donating $10 million in XRP to the marketing campaign US election marketing campaign from Kamala Harris till the Pennsylvania Home handed a bipartisan Bitcoin invoice.
Let's take a more in-depth look and offer you a recap of what occurred this week in crypto.
Stripe acquires stablecoin platform Bridge for $1.1 billion
Fee processor Stripe has accomplished the acquisition of Bridge, a stablecoin platform, in a deal valued at $1.1 billion.
The deal, which is Stripe's largest and was valued at $70 billion in July, comes after Stripe co-founder John Collision introduced in April that the corporate would “start supporting international funds steady this summer season.
This settlement is concluded. $1.1 billion https://t.co/J7ppK4uHw0
–Michael Arrington 🏴☠️ (@arrington) October 20, 2024
This additionally follows the fee processor partnering with Paxos to launch a steady funds platform. The collaboration goals to simplify the best way companies settle for stablecoin funds, offering a extra environment friendly and cost-effective various to conventional fee strategies.
Ripple's Chris Larsen donates $10 million in XRP to Kamala Harris
Chris Larsen, co-founder of Ripple, has grow to be the crypto business's largest donor within the 2024 US elections. Earlier this week, Larsen donated $10 million in XRP to the US election marketing campaign from Vice President Kamala Harris.
Larsen donated $9.9 million to the pro-Harris political motion committee (PAC) Future Ahead and $800,000 to the Harris Victory Fund.
This newest quantity follows a donation of $1 million in XRP Larsen made to Harris in August. Talking about his newest donation, Larsen mentioned on X: “It's time for Democrats to have a brand new strategy to technological innovation, together with crypto. »
It's time for Democrats to take a brand new strategy to technological innovation, together with crypto. I consider @KamalaHarris will be certain that American know-how dominates the world, which is why I’m donating $10 million in XRP to help it. https://t.co/vb9KJA87JK
– Chris Larsen (@chrislarsensf) October 21, 2024
The crypto business has thus far donated round $190 million in political donations through the 2024 US election cycle. This can be a vital enhance from the 2020 election, the place 15 million {dollars} had been donated. Of the $190 million, greater than $130 million was spent on congressional elections.
Pennsylvania Home Passes Bitcoin Invoice
The Bitcoin Rights Invoice has handed the Pennsylvania Home, which seeks to make clear rules for the crypto business.
The brand new invoice obtained bipartisan help with 176 votes to 26 and is a significant step for america by way of regulatory readability concerning digital property. The invoice outlines protections for Bitcoin and crypto holders, together with the suitable to custody and use for funds.
The subsequent step will see the invoice debated and voted on within the Republican-led Pennsylvania Senate. If it passes, the ultimate step will go to Gov. Josh Shapiro. Nevertheless, these two steps will happen after the US presidential election.
The subject of crypto performed a major function through the US election marketing campaign, with Donald Trump and Kamala Harris promising to help the crypto business if elected the subsequent POTUS.
