Elon Musk says that his new America Party will support Bitcoin, but does it have a chance in the American political system? The growing rift between Tesla CEO Elon Musk and US President Donald Trump turned into a gulf on July 5 when Musk announced the independent America Party, supposedly focused on Bitcoin and centrist policies. The move was catalyzed by Congress passing the Trump administration’s controversial One Big Beautiful Bill Act. According to Musk, the bill flies in the face of the administration’s initial efforts to cut government spending. The America Party has yet to hold a formative congress or issue a specific platform. Little is known about the party’s stance, beyond Musk’s vague comments of a preference for centrism, deregulation, reduction of government spending and support for Bitcoin (BTC). Read more
Launched in late 2024, Ripple’s enterprise-focused RLUSD stablecoin has hit a $500 million market cap in less than seven months. Ripple’s US dollar-pegged stablecoin, Ripple USD (RLUSD), has received a significant boost by integrating with Transak, a major cryptocurrency payments platform. Transak has officially integrated support for the Ripple USD stablecoin, enabling its 8.3 million users to purchase RLUSD using multiple fiat currencies, the company announced in a statement shared with Cointelegraph on Wednesday. “We worked closely with the Ripple team to understand how RLUSD could benefit from wider distribution across Transak’s global network — spanning more than 450 wallets, DApps [decentralized apps] and exchanges,” said Transak’s head of marketing, Harshit Gangwar. Read more