U.Today Crypto Digest: Ripple Invited to White House, Elon Musk Promises ‘Dogecoin to the Moon’, Cardano Enters Wall Street with 3 New ETFs

Ripple joins White House crypto summit

Ripple joined a powerhouse roster of fintech and banking giants at the White House on Monday.

• Stablecoin regulation. Ripple representatives attended a closed-door White House meeting on Monday.

Ripple has secured a seat at the highest table in Washington. On Monday afternoon, representatives from the blockchain payments company joined an elite group of crypto heavyweights and traditional banking lobbyists at the White House for a high-stakes summit on stablecoin regulation. 

The two-hour closed-door meeting focused on one of the most contentious issues stalling current market structure legislation: stablecoin yield and rewards.

• “Positive vibes”. Attendees included major crypto firms such as Ripple, Coinbase, Tether, and PayPal.

The attendee list included some major representatives from crypto (Ripple, Coinbase, Tether, Kraken, Crypto.com, Paxos, Circle, and PayPal) as well as banking and traditional finance heavyweights (Fidelity, Cantor Fitzgerald, SoFi, and so on).  

According to reporter Eleanor Terrett, sources inside the room described the atmosphere as “constructive,” with “positive vibes” and “no yelling.”

Elon Musk reaffirms Dogecoin’s ‘to the Moon’ mission

The richest billionaire alive broke the internet with a bullish response to a viral Dogecoin tweet, confirming that the meme asset’s ascent to the moon is inevitable.

• Doge to the Moon. Elon Musk confirmed he is still committed to sending Dogecoin to the Moon.

Tesla and SpaceX CEO Elon Musk has finally confirmed that it is still on a mission to get Dogecoin to the moon. The renowned billionaire made the confirmation in response to a viral bullish Dogecoin tweet, asserting that Dogecoin going to the moon is inevitable.  

Musk reacted to the post, acknowledging that he is still on a mission to literally get the leading meme token to the moon despite its recent price crash. 

• The origin. The confirmation followed the resurfacing of an April 2021 tweet about SpaceX sending DOGE to the moon.

It has been a while since Musk has stated Dogecoin and its prospects. His confirmation on the asset comes about five years after he first revealed SpaceX’s moon mission for Dogecoin.

Musk’s recent confirmation followed the resurfacing of an old tweet about making SpaceX send Dogecoin to the moon in April 2021. The X community had planted the tweet on Tuesday, Feb. 3, asking when Musk was going to eventually implement the plan. In response to this inquiry, Musk confirmed that the plan may happen next year.

Volatility Shares moves to launch trio of Cardano ETFs

More Cardano ETF products are coming to national exchanges through Volatility Shares.

• Institutional adoption. Cardano is attracting fresh institutional attention as Volatility Shares updates its filing with the U.S. SEC.

Cardano (ADA) is gaining more institutional interest in the broader financial space. According to an update shared by renowned Cardano ambassador Lucas Macchiavelli on X, Volatility Shares has updated its filing with the U.S. Securities and Exchange Commission (SEC) on its plans for ADA.

• Cardano ETFs. The proposed lineup includes a spot Cardano ETF, a 2x leveraged Cardano ETF, and a 3x leveraged Cardano ETF.

Volatility Shares is a financial firm with over $7 billion in assets under management for investors. As per the filings with the U.S. SEC, the firm plans to launch three Cardano exchange-traded funds (ETFs).

Volatility Shares proposes to launch a spot Cardano ETF, a 2x Leveraged Cardano ETF and a 3x Leveraged Cardano ETF. All three products will trade on NYSE Arca, which lists many ETF products, allowing traditional investors to gain exposure to crypto.