RippleX Teases AI Fund to Support Next Big Thing in AI and Blockchain

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RippleX, the development arm of Ripple cryptocurrency juggernaut, is teasing a new XRPLGrants AI Fund that will support new projects seeking to make a breakthrough in the areas of artificial intelligence and blockchain.

In a recently published tweet, the company announced an upcoming info session that will take place on Oct. 2 via the Zoom app. The tweet states that this session will cover XRPL grants, give an overview of the AI Fund and provide details on application requirements. It will also include a session of questions and answers. No more details have been shared so far.

Ripple issues crucial RLUSD warning to XRP army

Ripple also published a warning, addressing the vast global XRP community. This important message was related to the company’s new product, which is currently being tested – the dollar-pegged stablecoin RLUSD.

Ripple reminded the XRP army that the asset remains in private beta, where it has been since the start of August. However, there is public on-chain activity taking place as Ripple mints large batches of RLUSD and then burns some of those coins.

Last week, the company began minting hundreds of thousands of RLUSD at a time, arousing the XRP community’s curiosity. After some of the mints, the issued stablecoins get burned in the Ripple Treasury.

Ripple warned crypto investors and users that they should watch out for the latest updates and “tay vigilant against scams.”

Ripple locks 800 million XRP in escrow

Today, on October 1, Ripple giant traditionally unlocked one billion XRP coins, withdrawing them from escrow. The billion XRP was unlocked in three mammoth transactions, carrying 200,000,000, 300,000,000, and 500,000,000 XRP. The overall fiat equivalent of these cryptocurrency transfers stands at $626.9 million.

These releases have been taking place on a regular basis over the past six years on the first day of every new month. The unlocked millions are used by Ripple for covering its operational expenses, providing XRP to its institutional clients, and supporting the XRP liquidity in the market.

After the release, the majority of those hundreds of millions of XRP gets locked back. Today, Ripple also sent 800,000,000 XRP back to escrow where they will wait until future releases.