Ripple Acquires Hidden Road for $1.25 Billion to Boost XRP Ledger Adoption Binance Delists 14 Tokens Following Community Vote CZ Appointed Adviser to Pakistan's Crypto Council Amid Industry Growth

Ripple, a prominent player in the cryptocurrency space, made significant strides this week with the acquisition of Hidden Road, a multi-asset prime broker. This move, valued at $1.25 billion, marks a pivotal moment for Ripple as it aims to expand its global footprint and promote the adoption of its XRP Ledger technology. The acquisition is seen as a "defining moment" by Ripple's chief financial officer, David Schwartz, who highlighted that Hidden Road's extensive institutional customer base and high transaction volume will significantly boost Ripple's capabilities.

Ripple's ambitions extend beyond traditional cryptocurrency transactions. The company has already ventured into real-world assets (RWAs) by launching a tokenized money market fund in partnership with crypto exchange Archax. This initiative suggests that Ripple is poised to explore further opportunities in the tokenization of real-world assets, potentially revolutionizing the way financial instruments are managed and traded.

Meanwhile, Binance, one of the world's largest cryptocurrency exchanges, continued its efforts to maintain high standards on its platform. The exchange delisted 14 tokens that failed to meet its quality thresholds, following a community-driven "vote to delist" process. The tokens removed include Badger (BADGER), Balancer (BAL), Beta Finance, Status (SNT), Cream Finance (CREAM), and Nuls (NULS). Binance's decision was based on a comprehensive evaluation of various factors, including project development activity, responsiveness to due diligence requests, and other relevant metrics.

In a separate development, Changpeng "CZ" Zhao, the former CEO of Binance, was appointed as an adviser to Pakistan's newly formed Crypto Council. This appointment comes as Pakistan seeks to promote industry adoption and attract blockchain companies to its shores. The country has seen a surge in retail adoption and remittance activity, positioning itself as a hotbed for crypto innovation. Bilal bin Saqib, the CEO of the Pakistan Crypto Council, emphasized the country's commitment to embracing the transformative potential of the crypto industry, aiming to attract international investment and foster a Web3 native workforce.

Despite the recent market volatility and negative headlines, industry experts remain optimistic about the future of the crypto market. A panel of experts discussed the current state of the market, with MN Capital founder Michael van de Poppe suggesting that the bull market is just beginning. He drew parallels between the recent market crash and the COVID-19 meltdown of March 2020, predicting that the US Federal Reserve will eventually step in to support investors. Messari CEO Eric Turner echoed this sentiment, stating that the market has not yet experienced a true bull run, but rather two distinct phases driven by Bitcoin exchange-traded funds and the memecoin frenzy.