Garlinghouse said this is a massive step forward.Garlinghouse said this is a massive step forward.

Garlinghouse With ‘Huge News’ for Ripple: National Trust Bank Approval Secured

2025/12/13 00:50

Ripple CEO Brad Garlinghouse announced minutes ago that the company he runs had received conditional approval from the US Office of the Comptroller of the Currency, a national agency created to ensure a safe and sound national banking system, to charter Ripple National Trust Bank.

In addition, Circle received similar approval, while BitGo, Fidelity, and Paxos had their state-chartered trust companies convert to the federal system, as journalist Eleanor Terrett explained.

She added that Comptroller Jonathan Gould explained that each application went through a standard “rigorous” review, ensuring that all companies had met additional conditions before becoming fully operational. He reportedly noted that the new entrants “help modernize and diversify the banking system and broaden access to innovative financial products.”

Garlinghouse used the opportunity to lash out at the traditional banking system and those fighting against more innovative companies such as his own.

He described this development as “huge news” for Ripple and its ecosystem, as it’s a “massive step forward” for the native stablecoin (RLUSD), which sets the “highest standard for stablecoin compliance with both federal (OCC) and state (NYDFS) oversight.”

The post Garlinghouse With ‘Huge News’ for Ripple: National Trust Bank Approval Secured appeared first on CryptoPotato.

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U.S. Court Finds Pastor Found Guilty in $3M Crypto Scam

U.S. Court Finds Pastor Found Guilty in $3M Crypto Scam

The post U.S. Court Finds Pastor Found Guilty in $3M Crypto Scam appeared on BitcoinEthereumNews.com. Crime 18 September 2025 | 04:05 A Colorado judge has brought closure to one of the state’s most unusual cryptocurrency scandals, declaring INDXcoin to be a fraudulent operation and ordering its founders, Denver pastor Eli Regalado and his wife Kaitlyn, to repay $3.34 million. The ruling, issued by District Court Judge Heidi L. Kutcher, came nearly two years after the couple persuaded hundreds of people to invest in their token, promising safety and abundance through a Christian-branded platform called the Kingdom Wealth Exchange. The scheme ran between June 2022 and April 2023 and drew in more than 300 participants, many of them members of local church networks. Marketing materials portrayed INDXcoin as a low-risk gateway to prosperity, yet the project unraveled almost immediately. The exchange itself collapsed within 24 hours of launch, wiping out investors’ money. Despite this failure—and despite an auditor’s damning review that gave the system a “0 out of 10” for security—the Regalados kept presenting it as a solid opportunity. Colorado regulators argued that the couple’s faith-based appeal was central to the fraud. Securities Commissioner Tung Chan said the Regalados “dressed an old scam in new technology” and used their standing within the Christian community to convince people who had little knowledge of crypto. For him, the case illustrates how modern digital assets can be exploited to replicate classic Ponzi-style tactics under a different name. Court filings revealed where much of the money ended up: luxury goods, vacations, jewelry, a Range Rover, high-end clothing, and even dental procedures. In a video that drew worldwide attention earlier this year, Eli Regalado admitted the funds had been spent, explaining that a portion went to taxes while the remainder was used for a home renovation he claimed was divinely inspired. The judgment not only confirms that INDXcoin qualifies as a…
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BitcoinEthereumNews2025/09/18 09:14