Ripple CTO Says Community Could Vote To Burn 48B XRP – December 4

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$19,341

Bitcoin price is stabilizing in the low $19,000s to end the week, as the coin begins to find a tighter range below recent highs.

Top-20 altcoins have also seen their volatility taper off for the most part, with just a couple of exceptions. Ethereum remains almost unchanged while XRP drops less than 2%. Bitcoin SV and NEM stand out with 24-hour gains of 9% and 16%, respectively.

Top Stories for December 4, 2020 🔥

👉 Ripple CTO Says Community Could Vote To Burn 48B XRP 

David Schwartz, CTO of Ripple, has claimed that Ripple could be forced to burn their entire XRP supply if the community voted for it – regardless of whether or not Ripple agrees with the decision.

Changes to the XRP ledger require 80% approval from the network’s validators, with changes being activated if the 80% agreement is upheld for two weeks.

Ripple currently holds 48 billion XRP tokens – about half of the total existing supply.

👉 SEC’s Fintech Hub Spins Off Into Stand-Alone Office

The US SEC’s Strategic Hub for Innovation and Financial Technology (FinHub) will become a stand-alone office, to take on a larger role.

FinHub has had a major role in the SEC’s crypto strategy over its 18 months of existence, and will continue to be headed by Valerie Szczepanik.

👉 Spotify Hiring Associate Director For Payments And Crypto Efforts

Spotify is on the hunt for an associate director to lead their payments strategy team which will involve cryptocurrency, according to a public job posting on their website.

The position will be involved in Spotify’s payments strategy and their activity in Facebook’s Diem stablecoin project (formerly Libra), as well as looking into further opportunities through blockchain and crypto.