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Ripple CEO Brad Garlinghouse has raised concerns after a scheduled meeting with U.S. Senator Cynthia Lummis, a prominent Bitcoin supporter, was canceled with no rescheduling offer. While on a trip to Washington, D.C., where he advocates for balanced and inclusive digital asset regulations, Garlinghouse expressed disappointment on X (formerly Twitter). “I hope you will reconsider and be a leader for ALL of crypto,” Garlinghouse wrote, inviting Senator Lummis to join him for a public discussion via X Spaces or a live event . He stressed the importance of supporting all blockchain networks—not just Bitcoin—especially given Lummis chairs the Senate Digital Assets Subcommittee and represents Wyoming, a state known for its crypto-friendly stance. Garlinghouse’s remarks underscore continuing fears that Bitcoin is making other digital assets and the firms that help develop blockchain technology obsolete. The scrapped meeting drew reactions from members of the crypto community. Some accused the Senator of being biased and expressed frustration over her stance. On X, user @DarkScarf89 expressed curiosity as to why the Senator had refused a meeting, pointing to a divergence in support of a level playing field that might not quite match the Bitcoin-only narrative. Bitcoin maximalists, however, lauded Lummis. Troy Cross thanked her “for fighting against the scammers,” a move that could suggest skepticism toward Ripple and its XRP token. This conversation illustrates the friction that exists between Bitcoin maximalists and proponents of a wider, more welcoming regulatory strategy. Industry participants increasingly demand models that apply to all digital assets, not only Bitcoin. The scandal has done little to waver Senator Lummis’ love for Bitcoin. She has advocated that Americans consider Bitcoin a long-term investment , a hedge against inflation, and a weakening U.S. dollar. “I encourage people to save Bitcoin for their retirement, for their future,” Lummis recently stated. Her strong Bitcoin focus has earned both praise from the Bitcoin community and criticism from other parts of the crypto ecosystem. Nonetheless, Lummis has worked collaboratively on crypto legislation beyond Bitcoin. She and Senator Bernie Moreno co-introduced a bill to improve digital asset tax treatment. They expressed frustration over the bipartisan GENIUS Act’s failure to pass—a bill designed to create a regulatory framework for stablecoins. Today’s launch of CME XRP futures shifts attention to the pending approval of a spot XRP ETF. With futures trading attracting institutional interest, regulatory clarity on XRP-related products is increasingly urgent. Garlinghouse previously expressed optimism that a spot XRP ETF could be approved by the end of 2025, especially following the conclusion of Ripple’s legal dispute with the SEC. Meanwhile, analysts like Fred Rispoli note XRP’s potential role in a proposed digital asset reserve outlined in a Trump-era executive order, adding another layer of complexity to XRP’s regulatory outlook. Ripple CEO told his followers on X that he was heading to Washington to support what he called “sensible pro-crypto” legislation focused on stablecoins and market structure. He said he was encouraged to see lawmakers recognizing crypto as a multichain industry “as it should be.” Stablecoins are cryptocurrencies designed to maintain a stable value, unlike volatile assets like Bitcoin. They are typically pegged to traditional currencies like the U.S. dollar or commodities like gold. On December 17, 2024, Ripple launched its own stablecoin, Ripple USD (RLUSD). Senator Cynthia Lummis, a well-known crypto advocate, previously introduced the BITCOIN Act, which proposes creating a strategic Bitcoin reserve. She recently said senators have agreed on the final wording of new Senate stablecoin legislation and expects the bill to reach the floor next week. The bill in question is the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. Introduced by Senator Bill Hagerty (R-TN), it is co-sponsored by Senators Lummis, Tim Scott (R-SC), and Kirsten Gillibrand (D-NY). The GENIUS bill has faced roadblocks — most notably due to Democrats, including Sen. Elizabeth Warren (D-MA), opposing it — owing to President Donald Trump-linked USD1 stablecoin . Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

A recent survey by the Nakamoto Project, a nonprofit Bitcoin education and advocacy group, has revealed that four out of five Americans want some US gold reserves converted to BTC. The survey of 3,345 respondents asked: “Assuming the United States was thinking of converting some of their gold reserve into Bitcoin, what percentage would you advise they convert?” The majority of respondents wanted between 1% and 30% converted, it revealed. Project co-founder Troy Cross said many were skeptical of the findings, suggesting that only Bitcoiners were surveyed. “We were also surprised too. But the results are the results. When given a slider and asked to advise the US government on the right proportion of Bitcoin and gold, subjects were very reluctant to put that slider on 0% Bitcoin and 100% gold. Instead, they settled around 10% Bitcoin,” he explained. The recommended proportions of BTC dropped significantly with age, which was not surprising given the inverse relationship the organization found in a previous survey between age and Bitcoin ownership. Satoshi Action Fund co-founder Dennis Porter said he didn’t believe it at first, adding that: “Americans just don’t care about gold that much, and most people are inclined towards diversification when given the choice.” The survey, which ran between February and mid-March, was conducted online, and participants were paid. However, the survey and data collection company Qualtrics was asked to match the US Census distribution in terms of age, gender, race, income, education, and geography as closely as possible, he added. The study also revealed that around 66% of respondents were neutral-to-positive about Donald Trump’s strategic Bitcoin reserve. The United States holds the world’s largest stockpile of gold reserves, with 8,133 tons worth more than $830 billion at current market prices. Uncle Sam also holds around 207,189 BTC worth around $22 billion, less than 3% of its gold reserves, according to BiTBO, so there is plenty of room for diversification. White House adviser Bo Hines has floated a new strategy that the Treasury might start buying Bitcoin using profits from its gold reserves. This plan, if enacted, could lead to the purchase of up to 1 million BTC over five years. He referenced Senator Lummis’ Bitcoin Act of 2025, stating in March, “If we actually realize the gains on these [gold certificate holdings], that would be a budget-neutral way to acquire more Bitcoin.” Health Secretary Robert F. Kennedy Jr. suggested matching the country’s gold reserves with Bitcoin in July.

Tether Gold ($XAUT) reaches a new high! Each token is backed by 1 troy ounce of gold. Discover why it’s becoming a favorite among investors. 💰 📊

Stablecoin giant Tether has amassed a total of over 7.7 tons of physical gold to back its tokenized asset, Tether Gold. Tether revealed this via an attestation report, the first the company has issued for its digital asset Tether Gold ( XAUT ). Per the details, the Tether ( USDT ) issuer said it currently holds pure gold as reserve backing for every XAUT token in circulation. As of the report, the company held 246,523.33 ounces of gold, totaling more than 7.7 tons. “Each XAU₮ token is backed 1:1 by one troy ounce of physical gold, securely stored in a dedicated vault within world-class facilities in Switzerland,” the USDT issuer noted. The attestation release follows Tether’s establishment of its headquarters in El Salvador. In a comment, Tether chief executive officer Paolo Ardoino said the tokenized gold product has gained notable traction, including significant growth in the first quarter of 2025. Ardoino sees Tether Gold continuing to grow as demand across emerging markets rises. He also expects new exchange listings for XAUT to further boost adoption as gold shows greater resilience as a store of value. The Tether chief added: “With XAU₮, we’re offering users the ability to access the security of physical gold in a digital form—secure, easily transferable, and backed 1:1 by fully held gold reserves. It’s part of our broader commitment to building financial tools that combine the best of traditional assets with the efficiency of blockchain technology.” Despite this massive haul of gold, Tether sees Bitcoin ( BTC ) as “the most forward looking choice for the digital era.” The company points to itself as one of the biggest investor in BTC education resources. Tether is also an aggressive buyer of Bitcoin, and held over $8.2 billion in BTC at the end of Q1, 2025. XAUT’s market cap stood at over $770 million as of April 28, while the token’s price hovered near $3,300, mirroring the performance of gold. The token reached an all-time high of $3,423 on April 21, 2025.

🏆 Tether just bought 7.7 tons of gold They’re backing their XAU₮ token with physical gold stored in Swiss vaults, with 1 token = 1 troy ounce Market cap of XAU₮ now exceeds $800M — digital gold, literally ✨