Ripple was valued at $10 billion back in its 2019 funding round; It even surpassed Ethereum in total market cap at one point. The case between Ripple Labs and the SEC continues to make headlines four months after the regulator initiated the lawsuit at the end of 2020. XRP 4 hours ago. CFTC eyes SEC v. Ripple for regulatory clarity. So far, Ripple and its executives have been on a roll, as Judge Sarah Netburn delivered another win in the lawsuit. Samson. In December 2020, the SEC filed a lawsuit against Ripple, claiming that XRP is not a cryptocurrency, but a security. Until John Deaton and XRP Holders filed a petition to interfere in the pending case between the United States SEC and Ripple Labs, there had already been a lot of back and forth. Ripple Under Fire. 68 Interactions, 68 today. He also mentions that Ripple’s Series C investment round leader Tetragon Financial Group is looking to take advantage of Ripple via the SEC lawsuit. Author. SEC Presses Ahead With Ripple Lawsuit With Gensler at the Helm By . Ripple released its Q1 2021 report showing a solid performance during the first quarter of the year.. The SEC’s lawsuit against Ripple is being closely watched by the XRP community and the cryptocurrency industry not only because of its potential impact on XRP investors, but also the legal precedent it could set for other cryptocurrencies. This Ethereum metric hasn’t budged despite the price drop! What’s next for XRP’s price following these court proceedings. RippleNet will be used for remittance payments between the UAE and Egypt after Ripple and the National Bank of Egypt doubled down on their relationship. SEC, Ripple, XRP Lawsuit update: This is ‘something obviously the SEC does NOT want to see happen’ Ethereum 2 hours ago. Ripple is preparing to contest the SEC lawsuit against the firm. In addition, a large fine should be imposed on the company. ADVERTISEMENT On April 6th, Judge Sarah Netburn granted Ripple access to SEC documents regarding its correspondence and conversations surrounding Ethereum (EHT), BTC, and XRP, the asset whose status as a digital currency is in question. Many observers from the crypto and business communities have been critical of the SEC’s lawsuit against Ripple. Ripple lawsuit. The judge has denied the SEC access to the personal information of Brad Garlinghouse and Chris Larsen (the CEO and co-founder of Ripple Labs, respectively). Ripple (CCC: XRP-USD) is still dealing with its lawsuit from the U.S. Securities and Exchange Commission (SEC) but one petition seeks to have it dismissed. The SEC’s lawsuit against Ripple is being closely watched by the cryptocurrency industry around the world given the potential impact on XRP investors and the legal precedent it could set for other cryptocurrencies. The SEC asserts that Ripple is attempting to undermine the regulatory agency’s lawsuit against the fintech firm by highlighting irrelevant SEC documents. Amid SEC lawsuit, cryptocurrency startup Ripple hires new CFO Published May 5, 2021 Jane Thier Reporter. See related article: Ripple: SEC did not give fair notice that XRP violated law. Die Ripple-Funktionäre sollen Beihilfe zu den Verstößen geleistet und 600 Millionen US-Dollar an persönlichen Gewinnen aus unregistrierten Verkäufen von XRP erzielt haben. Karma is a bitch, Jay Clayton will have to deal with the consequences. “End the Ripple lawsuit and stop the SEC from making up cryptocurrency rules through lawsuits in place of writing these rules properly, with public input and partnership with the U.S. Congress.” The petition also requests that the intention behind the lawsuit be investigated by Inspector General Carl Hoecker. The defense of Ripple Labs and its principals is that it did not and could not know that the sales operations Ripple Labs has been performing with XRP, all the way through the last 8 years, concerned a security that requires registration with the SEC. The SEC v. Ripple lawsuit has been filed with twists every other day, which in turn feeds the market sentiment of the XRP. Although the defendants have come … XRP would be 5-10$ by now if Jay Clayton just left the SeC in good faith. Even if it does, the timing of the hearings for the initial motion to dismiss show that it is unlikely to happen before summer 2021. Jack Taylor / Stringer via Getty Images Dive Brief: As it fights the Securities and Exchange Commission's (SEC) claims of investor protection law violations, San Francisco, Calif.-based Ripple Labs has hired a new CFO, Kristina Campbell, it announced Tuesday. Brad Garlinghouse and Chris Larsen, the co-founders of Ripple and defendants along with Ripple Labs in SEC v Ripple lawsuit. Ripple Moves to Dismiss SEC Lawsuit as XRP Price Hits Three-Year High The filing follows a string of courtroom wins for the crypto company. Get Free Trading Signals Your capital is at risk. A few days ago, CFTC Commissioner Stump has expressed the CFTC’s attention to the lawsuit filed by the SEC against Ripple Labs and its co-founders for having sold more than 14.6 billion XRP tokens worth $1.38 billion in an unregistered offering, according to the complaint. The lawsuit has been damaging Americans, finacially. SEC’s disregard for due process. The worth of XRP tanked following the SEC’s lawsuit in opposition to Ripple simply earlier than Christmas. SEC vs. Ripple Lawsuit Will Drag on Until June 2021. By Will Gottsegen. The SEC formally indicted the CEOs and Ripple itself in December 2020. Last December, the SEC filed a lawsuit against Ripple Labs, alleging that its sale of XRP was an unregistered securities offering worth over US$1.38 billion. Matic & Loopring: Why these projects matter to Ethereum’s performance. If the SEC files this Ripple lawsuit, it will be one of the highest-profile cases for them in the crypto space. Update on the SEC, Ripple, and XRP Lawsuit: This is ‘something clearly the SEC does NOT want to see happen.’ News. What’s next for Ripple The Southern District Court of New York has scheduled Ripple’s initial pretrial conference for 10 am on February 22nd; the pretrial will give the world a first look into what Ripple is up against. Based on the SEC, Ripple and two key executives had offered $1.3bn of unregistered securities. “The question of whether XRP is a security will be crucial. The American regulator, SEC, and the executives of Ripple Labs agreed on the time frame to provide arguments in favor of the motion to close the lawsuit. However, there is no guarantee that Ripple and the SEC will reach an out of court settlement this time. This includes XRP sales that were up by almost 100% compared to the previous quarter and data showing accumulation from “whale” (holders of a large number of tokens) wallets, despite the ongoing US Securities and Exchange Commission (SEC) lawsuit. Ethereum 5 hours ago. Ripple has also raised a basic question of due process. Image: Shutterstock. The lawsuit has made waves in the trading market, and an array of crypto exchanges, like Coinbase and Binance, have The SEC sued Ripple last December, alleging the firm raised over USD 1.3 billion through “an unregistered, ongoing digital asset securities offering.” The heart of the debate lies in whether XRP is a security or digital currency. Brad Garlinghouse and Chris Larsen, the co-founders of Ripple and defendants along with Ripple Labs in SEC v Ripple lawsuit. A few weeks ago, CFTC Commissioner Stump has expressed the CFTC’s attention to the lawsuit filed by the SEC against Ripple Labs and its co-founders for having sold more than 14.6 billion XRP tokens worth $1.38 billion in an unregistered offering. Ripple’s lawyers are now filing a motion supporting several XRP holders who attempted to intervene in the case by arguing that the SEC caused the crypto asset to lose billions of dollars in value. The holders of XRP, the native digital currency of the United States-based blockchain cross border payments company Ripple, want the ongoing lawsuit between the US SEC and Ripple Labs as soon as possible. What the good will come out of the lawsuit for Americans? The defense of Ripple Labs and its principals is that it did not and could not know that the sales operations Ripple Labs has been performing with XRP, all the way through the last 8 years, concerned a security that requires registration with the SEC. At the end of 2020, the SEC filed a lawsuit against Ripple Labs, accusing the company and its co-founders of failing to register their native XRP token as a security. In a while, key companions, together with MoneyGram, jumped ship, and several other exchanges additionally delisted the token. Die SEC nannte auch Ripples Executive Chairman Chris Larsen und CEO Brad Garlinghouse als Mitangeklagte. The SEC claims that Ripple has been distributing the security without a license since 2013, and demanded the return of the received profit in the amount of $ 1.3 billion. May 19, 2021. Benjamin Bain. Despite the SEC Lawsuit: Ripple Partners With Egypt’s National Bank Author: Jordan Lyanchev Last Updated May 19, 2021 @ 08:01. A petition has been started calling on U.S. Securities and Exchange Commission (SEC) Chairman-Designate Gary Gensler to end the lawsuit against Ripple Labs and … Following the SEC’s lawsuit, major cryptocurrency exchanges, including Coinbase and Kraken, delisted XRP trading services for U.S. residents, which sent XRP prices tumbling. Currently, it sits in 4th place at $18.8 billion behind Bitcoin, Ethereum, and Tether (USDT), according to Furthermore, Ripple’s position in the lawsuit is becoming more favorable as the SEC’s ability to prove their case diminishes. ZERO. Apr 13, 2021 Apr 13, 2021. For this purpose, they filed a petition asking the Securities and Exchange Commission to end this lawsuit as well which now has […] The SEC v. Ripple lawsuit is being closely watched by the cryptocurrency industry given the potential impact on XRP investors and the legal precedent it could set for other cryptocurrencies. Criticisms of the Ripple lawsuit. The rise in XRP comes even as Ripple is dealing with a lawsuit from the SEC claiming that it sold $1.3 billion worth of unregistered securities. ADVERTISEMENT. The SEC filed a lawsuit against Ripple in December of 2020, alleging the San Francisco startup sold XRP as an unregistered security for years. XRP. Spread the love. In brief. Mar 14, 2021. SEC doesnt care about us the poor regular traders, SeC only cares about its billionaire friends. The SEC sued the crypto company Ripple late last year, alleging that it sold XRP tokens as unregistered securities. 2 min read.
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