Skip to main content

"GOOD NEWS" FOR RIPPLE? AN XRP UPDATE



 Ripple Lawsuit – The Relevance

The SEC's court case against Ripple has been going on for almost 2 years now . The SEC's primary charge is the sale of $1.3 billion worth of securities without authorization.


Should XRP be classified as a security (security token), the legal dispute will clearly be in favor of the SEC. However, Ripple's legal team is working hard to prove otherwise and classify XRP as a bitcoin-like digital asset (utility token). The verdict of this case is interesting for the entire crypto market as the court case can be used as a precedent in the future.


Good News Ripple

Is there good news?

The answer from “Bill”, a legal expert closely following the Ripple vs SEC case, is clearly a yes. Bill takes that belief from a new letter from the SEC. In this letter, the arguments that speak against Ripple should only be minor. He also notes that the wording of some of the arguments is very unclear and in need of interpretation.


The founder of CryptoLaw also reported on the case on Twitter. The expert on crypto rights sees a serious mistake that the SEC made: All XRP sales and offers were lumped together and not considered individually.


Specifically it says:


The good news for Ripple is that the SEC has not offered any specific sales with contracts. No specific transactions, just all transactions. I don't know how to do that.


Court judgments relating to cryptocurrencies are currently still rare. Even the SEC will not yet know the best way to handle such a case. It still remains open who will have the upper hand in the end. November 21 is the next big date in the lawsuit. Here the two opponents will submit their edited answers.

Ripple engineer leaves project

A long-term relationship comes to an end. Ripple's Director of Engineering says goodbye to the company and the cryptocurrency market in general after almost ten years. This was announced by Nik Bougalis on Sunday.


He says goodbye:


"All good things..."


My decade-long journey at Ripple has been fantastic (albeit exhausting and all-consuming). I have to work on a project I love for a goal I believe in. But this journey will end in a few weeks.


360 million XRP moved

Large amounts of Ripple are currently being moved to various exchanges. Whale Alert drew attention to transactions of around 360 million XRP ($150 million) that were moved in the last 24 hours alone.


Part of this transferred XRP, 100 million XRP to be precise, was moved by Ripple Labs. Tonight at just after 12, the XRP worth around $45.5 million were transferred to an unknown wallet.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin...

Phishing attack on popular crypto sites tries to empty wallets

  Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne...

Bored Ape Yacht Club NFTs stolen through phishing on Instagram

  Bored Ape Yacht Club ( BAYC ) developers announced on Monday that hackers have hijacked the official Instagram page of the popular NFT collection and posted links to a fake airdrop. Crypto enthusiasts who connected their MetaMask wallet to the rogue website subsequently had their Ape NFTs stolen. Apparently, the attack was planned to coincide with the one-year anniversary of the BAYC collection. This increased the "perceived credibility" of the phishing link. About 100 NFTs are said to have been stolen in the phishing attack . According to CoinGecko data , the minimum price for a BAYC NFT is 139 Ether ( ETH ) or $400,726. So if reports are correct, over $40 million worth of NFTs were stolen in the attack. These numbers are only the lowest estimate, however, as they are based on the lowest price.  At the time of writing, it was still unclear how the hackers gained access to BAYC's official Instagram account. Social media users have pointed out the importance of two-fact...