Crypto’s institutional story is moving in different directions this week. Ripple keeps expanding into traditional finance: CoinDesk reported on October 8 that Ripple Prime, the prime brokerage built on its $1.25 billion Hidden Road acquisition, earns fees financing leveraged stock ETFs, a business long dominated by banks. One example pays Ripple the overnight funding rate plus 4 percentage points. Ripple has not disclosed the revenue involved or how much of it touches XRP or the XRP Ledger.
At Algorand, the picture is less comfortable. Chief Strategy and Marketing Officer Marc Vanlerberghe resigned on October 14, following CTO Bruno Martins around October 9 and former CEO Staci Warden earlier. William Herkelrath became CEO on August 31 and is reviewing the foundation’s initiatives, with a stated aim of making Algorand self-sustaining. Several board members have also changed. Crypto Briefing did not report a market reaction to the departures.
Elsewhere, NEAR’s AI arm lists a new Trust Center at trust.near.ai, but we could not find an announcement describing it, so details remain unconfirmed.
The contrast is clear: projects with strong banking-style revenue lines are gaining credibility, while teams in transition face questions about direction. Investors should watch Ripple’s disclosures and Algorand’s strategy update.
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Sources:
- CoinDesk: Ripple is earning fees financing leveraged stock bets
- Crypto Briefing: Algorand Foundation’s marketing chief resigns
- NEAR AI: Blog
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