On The Chain - Blockchain and Cryptocurrency News + Opinion

Stripe just came for XRP. Privy, the wallet company Stripe owns, is partnering with Ripple to put embedded wallets on the XRP Ledger, so developers can drop XRP and RLUSD straight into their apps. Jeff and Chip walk through what that opens up, then connect it to a week where the big names kept lining up behind the ledger.

Standard Chartered is now custodying RLUSD on the XRP Ledger through its DIFC branch.
Evernorth named Ripple, Coinbase, Kraken and BitGo as execution partners to put its 473M XRP treasury to work.
France is weighing a 31.4% tax on crypto-to-stablecoin conversions.
An HSBC whistleblower's letter to Scott Bessent lands the same week Treasury hits Bank of America with $1.21B in penalties, and the guys run through a decade of bank fines while Elizabeth Warren keeps blaming crypto.
A viewer's Japanese XRP candy gets a live taste test.
Also in the back half: Blakeman vs. Hochul, Jewish voters breaking from New York Democrats, the midterm Senate map, why sitting out the election costs your crypto bag, why third parties lose, and U.S. vs. Europe innovation.

MetaLawMan, securities lawyer James Murphy, joins Jeff and Chip to answer the question XRP holders keep asking: if XRP won, why hasn't the market treated it like clarity? His answer is that the US still has no crypto law passed by Congress. XRP is well positioned after Judge Torres's ruling and the SEC's interpretive guidance naming it one of 16 tokens that are commodities, not securities, but guidance can change with the next administration.

We get into why a statute beats SEC guidance, the coming courtroom irony where the SEC has to make Gensler's own argument, what's next after Clarity stalled, the exchange protections Democrats voted down, and how the banks shaped the bill. Also: Deaton vs. Markey debate clips, including Markey's Siri-or-Claude answer on AI, and why MetaLawMan is all in on John Deaton.

Guest: MetaLawMan - https://www.metalawman.io/ - https://x.com/metalawman

Watch on YouTube: https://www.youtube.com/watch?v=kop27ReIw4w

A bug that sat in the XRP Ledger's payment engine for about 10 years could have minted 18 trillion XRP out of nothing, against a fixed supply of 100 billion. Jeff and Chip break down how it worked, who found it, why the fix skipped the usual validator vote, and why it lands right as Evernorth's XRPN is expected to open on the Nasdaq Monday. Plus the $250,000 bug bounty fight, AI guardrails and pen testing, Bitcoin, Ether and Solana ETF outflows, and in the back half: James Carville's meltdown, Bessent's letter to Elizabeth Warren, Europe's migration and military service push, and the UK digital ID fight.

Watch the show: https://youtube.com/live/aiPbhQtB4eY

Show notes: https://onthechain.io/podcast/they-almost-printed-trillions-of-xrp/

Ripple is now collecting fees from Wall Street’s leveraged-ETF business, and Jeff and Chip spend the morning on the question every holder is asking: when Ripple gets paid, where does that leave XRP? Their answer: Ripple’s revenue belongs to Ripple, and XRP holders benefit indirectly, through more builders and more activity on the XRP Ledger.

Ripple Prime on Wall Street: The Wall Street Journal reports Ripple Prime is financing leveraged ETFs through swap deals, a category of 593 U.S. funds holding more than $256 billion, and it just signed hedge fund Brevan Howard for prime brokerage, clearing and financing.

Company vs. asset: Jeff argues Ripple’s job is Ripple’s profitability, and banks will reach for RLUSD before a volatile asset. Chip says XRP’s role is liquidity, and that ETFs are what move the price.

Evernorth: XRPN is expected to start trading on Nasdaq Monday with about 473 million XRP. There is no pre-sale, no airdrop and no early-access link.

Batch is live on the XRP Ledger: up to 8 transactions can settle as one, which opens the door to delivery-versus-payment and OTC trades without an escrow agent.

Ripple’s other moves: Ripple Custody 1.43 adds Canton Network support, Jack McDonald explains the Notabene investment, and Chip lays out why Ripple has no reason to go public.

Also in the back half: a hardware-wallet supply-chain warning (buy direct from the maker), the H-1B visa fight and India’s IT outsourcers, the Michigan Senate debate between Mike Rogers and Abdul El-Sayed, and Marco Rubio on sanctioning the International Criminal Court.

XRP is being sold at the worst possible time: three red days in a row, in the same stretch that a $35 billion hedge fund signed with Ripple Prime, Paxos switched on XRP trading, and Ripple's president put a $30 billion target on the XRP Ledger.

Here is what the sellers missed. Brevan Howard picks Ripple Prime for multi-asset prime brokerage, clearing and financing. Monica Long's 2027 targets at XRP Seoul: $30 billion in tokenized real-world assets on the XRP Ledger (about $6 billion today) and 100 million+ AI agent transactions. Spot XRP ETFs hold about $1.7 billion but took in about $4 million last week. Evernorth's Nasdaq debut (XRPN, about 473 million XRP) moves to October 12.

Also tonight: AI agents on the XRP Ledger with t54, Coinbase and Citi on stablecoins, Grape's XRP Man game, iTrustCapital's Q, a live reaction to Founders episode 3, Rubio in Athens, CNN's new owners, Quebec's separatist win, Canada's assisted-dying law, France's school protests, and the UK's arrests over online posts.