Gemini Just Burned $128,000,000 RLUSD on XRPL, as Supply Drops to $189M

01-Apr-2026 The Crypto Basic

Gemini has carried out a large redemption of Ripple's RLUSD stablecoin, burning $128 million worth of RLUSD on the XRP Ledger. The update came from Vet, an XRPL validator, who explained that Gemini redeemed the funds by burning RLUSD tokens to take back the liquidity it originally used to mint them with Ripple.

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