From cost processor Stripe's acquisition of stablecoin platform Bridge, to Ripple co-founder donating $10 million in XRP to Kamala Harris' US marketing campaign, to passage of bipartisan Bitcoin laws within the Pennsylvania Home of Representatives. It's been a busy week for cryptocurrencies.

Let's take a better take a look at these and summarize what occurred in crypto this week.

Stripe acquires stablecoin platform Bridge for $1.1 billion

Cost processing firm Stripe has accomplished its acquisition of stablecoin platform Bridge in a deal valued at $1.1 billion.

The deal is Stripe's largest, valued at $70 billion as of July, with Stripe co-founder John Collision saying in April that the corporate would “launch world stablecoin funds this summer time.” This was completed after the corporate introduced that it might begin supporting the

This transaction has been accomplished. $1.1 billion https://t.co/J7ppK4uHw0

— Michael Arrington 🏴‍☠️ (@arrington) October 20, 2024

This follows the cost processor's partnership with Paxos to launch a stablecoin cost platform. The partnership goals to simplify the way in which companies settle for stablecoin funds and supply a extra environment friendly and cost-effective various to conventional cost strategies.

Ripple's Chris Larsen donates $10 million in XRP to Kamala Harris

Ripple co-founder Chris Larsen has grow to be the crypto trade's greatest donor to the 2024 US election. Earlier this week, Larsen donated $10 million in XRP to Vice President Kamala Harris' US election marketing campaign.

Mr. Larsen donated $9.9 million to the pro-Harris Future Ahead Political Motion Committee (PAC) and $800,000 to the Harris Victory Fund.

This newest quantity follows Larsen's $1 million XRP donation to Harris in August. “It's time for Democrats to take a brand new method to innovation, together with cryptocurrencies,” Larsen advised X about his current donations.

It's time for Democrats to take a brand new method to technological innovation, together with cryptocurrencies. i consider @KamalaHarris It can be sure that American expertise dominates the world. That's why I'm donating $10 million in XRP to assist her. https://t.co/vb9KJA87JK

— Chris Larsen (@chrislarsensf) October 21, 2024

The cryptocurrency trade has to this point contributed roughly $190 million in political contributions through the 2024 US election cycle. This can be a vital improve in comparison with the 2020 election, when $15 million was donated. Of the $190 million, greater than $130 million was spent on legislative elections.

Pennsylvania Home passes Bitcoin invoice

The Bitcoin Invoice of Rights has been handed by the Pennsylvania Home of Representatives, calling for clearer rules for the cryptocurrency trade.

The brand new invoice acquired bipartisan assist by a vote of 176 to 26 and represents a serious step for the US when it comes to clarifying rules for digital property. The invoice outlines protections for holders of Bitcoin and digital currencies, together with the suitable to self-custody and the suitable to make use of them for funds.

The subsequent step is for the invoice to be thought of and voted on by the Republican-led Pennsylvania Senate. If handed, the ultimate step would go to Gov. Josh Shapiro. Nevertheless, these two steps will happen after the US presidential election.

The subject of cryptocurrencies performed a key position within the US election marketing campaign, with Donald Trump and Kamala Harris pledging to assist the crypto trade if elected president-elect.