Ripple’s Stablecoin RLUSD Just Crashed Gemini’s Party—And Here’s What Happened Next

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Plot twist: RLUSD, Ripple’s shiny stablecoin, just swanned onto the Gemini exchange floor like it was always meant to be there. Trading, deposits, withdrawals—the whole disco ball. That makes Gemini the 15th (yes, apparently we’re counting now) exchange to let RLUSD hang out. If crypto had a prom, RLUSD would literally be stuffing business cards in everyone’s lockers.

NEW: $RLUSD is now available for trading on Gemini

Deposits & withdrawals are enabled

Buy, sell, and store today:

— Gemini (@Gemini) May 5, 2025

And how did this all start? With a cryptic acrostic, obviously. Gemini basically wrote “RLUSD” in invisible ink right in front of the entire XRP crowd. Cue 10,000 conspiracy tweets and a few people who probably need a hobby. Anyway, the volume shot past $43 million in 24 hours—because nothing says “let’s be friends” like a 15% boost and a new asset on the dance floor.

Meanwhile, crypto influencer Amelie (who is presumably seated in a dark room watching everyone) claims Gemini dropped some covert, capital-letter clues about RLUSD and—shocking!—Gemini has said precisely nothing about it. Leave them on read, why don’t you? 😏

RLUSD’s Bold Moves

May 5: Ripple steps up like the cool parent at a PTA meeting. $25 million in RLUSD is donated to public schools in the U.S. via DonorsChoose and Teach For America. Is it charity if it’s also public relations? Discuss. At least some classrooms are actually getting supplies out of it, so teachers everywhere are hugging their whiteboards. 📚✨

Ripple’s taking RLUSD for a serious spin, too: integrating it into their Payments product, letting institutions send money across borders because apparently, fiat is just so last season. And just to flex, Ripple bought Hidden Road for $1.25 billion—because apparently they lost a bet? No, to start using RLUSD as institutional collateral. Nothing like billion-dollar poker chips to show you mean business.

What’s Next in Stablecoin Regulations?

Oh look, RLUSD’s friends list is expanding—Gemini, Bitstamp, Uphold, Revolut, and about 11 others probably fighting to spell “RLUSD” in fridge magnets. The idea? Make trading this thing as easy as stealing your flatmate’s oat milk.

Meanwhile, the U.S. was practically two signatures from giving stablecoins proper rules (the GENIUS Act, which needs a better name), but now lawmakers are basically arguing over the playlist. Some Democrats got cold feet, muttering something about “not enough fraud prevention” and “Will someone please think of the children?” Throw in a Trump-adjacent stablecoin deal in Dubai and the whole thing’s now a soap opera. Legislation? Maybe next season.

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2025-05-06 06:38