Ripple CEO Brad Garlinghouse revealed that he and co-founder Chris Larsen seriously considered shutting down the company after the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against them in 2020. In an interview with KU Hustle, Garlinghouse said he felt the government had "unlimited power and resources" at the time, making closure a real option. The legal battle has already cost Ripple over $150 million.
Market Overview
On July 14, Bitcoin (BTC) was trading around 10.14 million yen, Ethereum (ETH) at approximately 289,000 yen, and Solana (SOL) at about 12,100 yen. The global cryptocurrency market capitalization stood at 362 trillion yen, with Bitcoin dominance at roughly 58.7%.
JCB to Introduce USDC Payments for Tourists
Japanese credit card giant JCB plans to launch a pilot program by the end of the year that will allow foreign visitors to make payments using the U.S. dollar-pegged stablecoin USDC. The company has partnered with an affiliate of Circle Internet Group, which issues USDC. The trial will begin at one store in Tokyo with high tourist traffic, with potential expansion to other merchants in the future. The move aims to eliminate the need for currency exchange and reduce transaction fees for inbound travelers.
Tether Holds 154 Tons of Physical Gold
Tether, the world's largest stablecoin issuer, now holds approximately 154 tons of physical gold, strengthening its position as one of the largest private gold holders globally. The stash is worth around $20 billion at current prices, placing Tether outside the top 20 among central banks in terms of gold reserves. This distinctive asset base underscores Tether's unique role in the crypto ecosystem.