Ripple’s CEO Celebrates Recognition of RLUSD
In a recent update shared on X, Ripple’s CEO, Brad Garlinghouse, expressed his enthusiasm about a significant recognition received by the company’s newly launched stablecoin, Ripple USD (RLUSD). This accolade comes on the heels of the U.S. government’s enactment of the Genius Act, which establishes guidelines for stablecoins in the country.
According to Garlinghouse’s announcement last Friday, a leading rating agency has endorsed RLUSD by designating it “the most trusted stablecoin on the market.”
The tweet highlighted that Bluechip, the rating organization, has assigned an A rating to the dollar-pegged RLUSD, underscoring its reliability among consumers. This recognition has occurred at a pivotal moment, coinciding with Ripple’s recent actions to expand the supply of RLUSD, including a release of 25 million coins just days after a previous issue of 10 million coins on July 18 and 21.
Warning Against Scams in the Crypto Market
Additionally, Garlinghouse took the opportunity to caution the XRP community against potential scams proliferating during the current bullish trend in the crypto market, particularly following Bitcoin’s price surge. He warned that scammers are notorious for being more active during such times, specifically referencing a recent impersonation scam on YouTube that targets Ripple’s supporters.
“Beware of the latest scam impersonating Ripple’s official account on YouTube,” Garlinghouse advised, urging community members to remain vigilant and report fraudulent activities.
He emphasized the importance of skepticism, reminding followers that if an offer seems too appealing, it likely is deceptive. As part of Ripple’s commitment to the community, he reassured that the team would continue to inform YouTube about these fraudulent schemes while encouraging users to take similar action.
