Ripple Prime raised $275M at a BBB rating, but the credit case still leans on support from Ripple’s XRP-heavy balance sheet.
The catch: XRP is not disclosed as collateral, and 32.6B of Ripple’s 37.7B XRP was still locked in escrow as of June 30.
CryptoSlate
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- 23 of the OCC’s 40 recent de novo bank-charter applications include digital assets. But these crypto “banks” are mostly national trust banks: federally supervised for custody, reserves and settlement, without ordinary deposits, lending or FDIC insurance.
- 🏛️ POLICY: Nigeria wants offshore crypto platforms serving local users inside its licensing perimeter. The proposed rules would require exchanges and custodians to meet a ₦2B capital floor, local-presence rules and other compliance tests. Comments close Sept. 3.
- 🔐 SECURITY: Coldcard now forces extra physical randomness into new seed generation—at least 65 key presses, 50 dice rolls, or 128 coin flips. The catch: fixed firmware does not repair old affected seeds. Most exposed users still need to create a new seed and move every balance.
- 📊 DATA: Grayscale’s proposed Zcash ETF would charge 2.5% annually, while one June 30 ownership snapshot implies a DCG affiliate could hold ~34% after a 200,000 ZEC contribution. The catch: the registration is still preliminary, and the DCG discussions are nonbinding.
