Browsing:Ripple

Ripple and the SEC reach the final stage of their legal battle
1 week ago 2 mins read

Ripple and the SEC reach the final stage of their legal battle, with the court set to decide on key issues

Ripple Labs and the SEC are at a key point in their legal battle. The SEC’s latest court brief is the last statement before Southern District of New York Judge Analisa Torres resolves this important case’s remedies. The SEC responded to Ripple’s request to seal financial papers and other evidence in a detailed reply on May 20, 2024. The SEC strongly opposes Ripple’s move to withhold financial facts and contractual clauses crucial to the Court’s remedy determination in its letter to Judge Torres. Public access to court papers is essential for openness and accountability, and the SEC supports it. The

Ripple suggests imposing a $10 million charge as a countermeasure to the SEC's proposition of $2 billion in sanctions
3 weeks ago 1 min read

Ripple faces the US SEC in court, challenging a hefty $2 billion penalty as the case nears conclusion

The legal conflict between Ripple and the SEC approaches a critical juncture with the presentation of final arguments. Ripple suggests imposing a $10 million charge as a countermeasure to the SEC’s proposition of $2 billion in sanctions, highlighting the comparatively lesser penalties imposed on BlockFi and Genesis Global. Ripple contends that the fine imposed by the SEC is excessive and lacks proportionality with regard to settlements as opposed to judgments. The Securities and Exchange Commission (SEC) has determined that the penalty amount for Ripple’s breaches of the Securities Act and its extensive sales of XRP is $1 billion. Stuart Alderoty,

Ripple counters SEC's hefty $2B fine with a modest $10M proposal in a landmark case
1 month ago 1 min read

Ripple counters SEC’s hefty $2B fine with a modest $10M proposal in a landmark case

Ripple has defended itself against the SEC’s demand for roughly $2 billion in fines for selling its cryptocurrency, XRP, to institutional investors without registration. The corporation submitted a lengthy 186-page statement accepting the court’s decision and adjusting its business procedures appropriately. Ripple contests the SEC’s request for disgorgement, claiming that there is no proof of financial loss to investors as a result of Ripple’s conduct. The corporation argues for a far lesser civil penalty than the SEC seeks, stating that $10 million is consistent with precedent and the nature of the violation. The XRP legal community supports Ripple’s argument, with

Ripple is developing a new digital currency linked to the US dollar
2 months ago 1 min read

Ripple enters stablecoin market with U.S. dollar-backed digital currency, promising transparency

Ripple is developing a new digital currency linked to the US dollar, hoping to compete with Tether and Circle. The US dollar-linked stablecoin will be backed by cash, bonds, and deposits, with Ripple promising transparency via regular updates. The business intends to launch comparable stablecoins in Europe and Asia, competing Tether’s USDT and Circle’s USDC. Ripple CEO Brad Garlinghouse cites previous stability difficulties with these competitors as a major cause for the stablecoin endeavor. Despite a potential litigation with the United States Securities and Exchange Commission regarding XRP sales, Ripple is hopeful about a fair conclusion and expects a considerably

Ripple Labs is now embroiled in a $2 billion legal dispute with the Securities and Exchange Commission (SEC)
2 months ago 1 min read

Ripple (XRP) faces $2B SEC fine, vows to fight in ongoing crypto clash

Ripple Labs is now embroiled in a $2 billion legal dispute with the Securities and Exchange Commission (SEC), as stated by Ripple’s chief legal officer, Stuart Alderoty. Alderoty condemned the SEC for using deceptive strategies and accused it of attempting to frighten both Ripple and the broader industry. Ripple CEO Brad Garlinghouse expressed disapproval of the Securities and Exchange Commission’s (SEC) request for $2 billion, deeming it exorbitant. He referenced the DEBT Box case, in which Judge Robert Shelby reprimanded the SEC for engaging in fraud. The current legal dispute between the SEC and Ripple centers on the classification of

March 26 has significant importance for Ripple Labs in its legal dispute with the US SEC
2 months ago 1 min read

Ripple braces for pivotal March 26 in legal showdown with SEC

March 26 has significant importance for Ripple Labs in its legal dispute with the US Securities and Exchange Commission (SEC). The SEC has submitted its first brief on the remedies it is seeking, which is presently confidential. This document provides an overview of the sanctions and legal measures that are being sought against Ripple, marking a key milestone in an ongoing legal dispute. The court has issued an order for Ripple to disclose its financial particulars and sales contracts, which the SEC contends are crucial for deciding the appropriate course of action in the case’s remedy phase. A comprehensive schedule

Over $11 million worth of XRP
3 months ago 1 min read

Over $11 million worth of XRP moved from Binance to an unknown wallet

Over $11 million worth of XRP, equal to 18.91 million coins, was moved from Binance to an unknown wallet, marking a huge shift in the crypto market. This follows a similar event in which around 18.34 million XRP, worth $11.2 million, was transferred from Binance exchange to an unknown wallet. Furthermore, these large-scale trades, dubbed “whale movements,” have attracted debate and research within the bitcoin community. These significant withdrawals often indicate purposeful movements by important participants in the market, such as XRP accumulation, in which wealthy investors increase their holdings in expectation of future price gains. The timing of these

Ripple was hacked for around 213 million $XRP worth over $112.5 million, ZachXBT report
4 months ago 1 min read

Ripple was hacked for around 213 million $XRP worth over $112.5 million

Ripple, the company behind XRP crypto, just got hit by a nasty cyberattack. Hackers swiped around 213 million XRP, worth around $112.5 million at the time. The eagle-eyed sleuth @zachxbt was the first to spot the security breach, sounding the alarm bells and sending the crypto world into a frenzy. According to the report, the tokens are being laundered through various exchanges, including MEXC, Gate, Binance, Kraken, and a whole bunch more. Meanwhile, in the ongoing legal tussle between Ripple and the SEC, things are getting spicy. A legal eagle raised concerns about the SEC’s tactics, accusing them of misleading the court with shady info.

Ripple CEO Brad Garlinghouse has recently hinted at the potential adoption of XRP by the banks of the United States.
4 months ago 1 min read

Ripple CEO Hints at Potential US Bank Adoption: Key to XRP’s Success?

Ripple CEO Brad Garlinghouse recently hinted at a significant development: the potential adoption of XRP by US banks. In a video shared by blockchain influencer Ben Armstrong, a well-known voice in the industry, it was claimed that the adoption of XRP by US banks could be the “key to XRP’s success.” Ripple faced significant legal challenges for over two years after the SEC sued the platform in 2020, accusing it of conducting an unregistered digital asset securities offering that raised more than $1.3 billion. Despite Ripple’s vision for global expansion and increased XRP adoption, legal hurdles remained significant. However, a

Ripple Legal Battle Intensifies as CLO Accuses SEC Chair of Crypto Bias
6 months ago 1 min read

SEC Chair Gensler Faces Accusations of Bias and Prejudice from Ripple CLO

The U.S. Securities and Exchange Commission (SEC) chairman, Gary Gensler, recently declared at a gathering that “we [regulators] are partners of honest business and prosecutors of dishonesty.” But others in the crypto world took exception to this declaration, and Stuart Alderoty, Chief Legal Officer of Ripple Labs, quickly refuted Gensler’s claims. Despite being sued, Alderoty noted that Ripple was never accused of “dishonesty.” This refutes Gensler’s assertion that the SEC only targets dishonest companies. Alderoty went on to say that Gensler has perpetuated the bias in the Ripple case by bringing lawsuits without doing adequate investigations, continuing the biased start

Ripple has partnered with African fintech firm Onafriq
7 months ago 1 min read

Ripple Expands into Africa with New Cross-Border Payments Solution

Ripple, a leading provider of cryptocurrency-based payment solutions, is expanding its reach with new initiatives aimed at simplifying cross-border transactions. The company has upgraded its Ripple Payments service to make it more accessible to non-crypto-savvy businesses, particularly in the United States. Additionally, Ripple has partnered with African fintech firm Onafriq to facilitate faster and cheaper money transfers between Africa and other regions. Ripple Payments is designed to streamline cross-border payments for businesses of all sizes, regardless of their familiarity with crypto. The service has been enhanced to simplify integration for US and select international companies, leveraging Ripple’s regulatory licenses in

XRP has managed to grab the spotlight with a surge above $0.53
7 months ago 1 min read

XRP Surges Above $0.53 Amid Legal Clarity and Whales Activities

XRP has managed to grab the spotlight with a surge above $0.53. This unexpected leap comes after a relatively quiet period of over 10 days and stands out in a market where most other cryptocurrencies are facing a decline. On-chain analytics platform Santiment recently published a report that points to a rapid accumulation of XRP by wallets in the 10,000 to 10 million XRP range. These are the “smart money” tiers we’re talking about. According to Santiment, wallets in this range have been stacking up XRP at a pace not seen since July 27. In fact, they now hold a