The legal team requested the court appoint a committee representing certain shareholders or the case could end up "inappropriately and inequitably skewed in favor of the customers."
Decentral Block Post
Access real-time blockchain and cryptocurrency news updates from around the globe.
XRP hits 13-month high versus Bitcoin with 35% daily surge — But is a correction inevitable?
XRP price posted a sharp rally against Bitcoin (BTC) on continued optimism about a potential settlement between Ripple, a San Francisco-based blockchain payment firm, and the U.S. Securities and Exchange Commission (SEC).
Settlement rumors fuel XRP price boom
On Sep. 23, the XRP/BTC pair surged to 0.00002877 — its best level in 13 months — from 0.00002132, a 35% price rally versus Bitcoin in one day. Meanwhile, the same timeframe saw XRP rising as much as 42% against the U.S. dollar.
XRP/BTC and XRP/USD daily price chart. Source: TradingViewThe big price leaps in the XRP market started appearing after Ripple and SEC filed motions for a summary judgment with the court on Sep. 12 regarding their ongoing legal battle over allegations that Ripple committed securities fraud.
In other words, Ripple and SEC agreed that the court should use available evidence to reach a verdict by December 2022 on whether the blockchain firm illegally raised funds by selling XRP, and thus avoiding trial.
XRP's price has boomed approximately 75% and 60% versus Bitcoin and the dollar, respectively, since Ripple's court filing, fueled by optimism of a possible win for Ripple.
XRP hits 13-month high versus Bitcoin with 35% daily surge — But is a correction inevitable?
XRP price posted a sharp rally against Bitcoin (BTC) on continued optimism about a potential settlement between Ripple, a San Francisco-based blockchain payment firm, and the U.S. Securities and Exchange Commission (SEC).
Settlement rumors fuel XRP price boom
On Sept. 23, the XRP/BTC pair surged to 0.00002877 — its best level in 13 months — from 0.00002132, a 35% price rally versus Bitcoin in one day. Meanwhile, the same timeframe saw XRP rising as much as 42% against the U.S. dollar.
XRP/BTC and XRP/USD daily price chart. Source: TradingViewThe big price leaps in the XRP market started appearing after Ripple and SEC filed motions for a summary judgment with the court on Sept. 12 regarding their ongoing legal battle over allegations that Ripple hcommitted securities fraud.
In other words, Ripple and SEC agreed that the court should use the available evidence to reach a verdict on whether the blockchain firm illegally raised funds by selling XRP by December 2022, and thus avoid a trial.
XRP's price has boomed approximately 75% and 60% versus Bitcoin and the dollar, respectively, since Ripple's court filing, fueled by optimism of a possible win for Ripple.
XRP hits 13-month high versus Bitcoin with 35% daily surge — But is a correction inevitable?
The XRP price rally appears to be driven by a "buy-the-rumor" frenzy in a potential lawsuit win for Ripple versus the SEC.
El Salvador's Bitcoin decision: Tracking adoption a year later
El Salvador made history last year in September by making BTC a legal tender. One year later, the falling BTC prices and delayed Volcanic bonds have fueled skepticism.
Post offices adopting NFTs leads to a philately renaissance
Nonfungible tokens are being used to reinvigorate post stamp collecting in Austria and the Netherlands.
Is the bottom in? Crypto community shares their thoughts
From waiting for Bitcoin prices to go lower to hoping that the fun goes on, community members shared their thoughts on crypto prices.
China accounts for 84% of all blockchain patent applications, but there's a catch
China’s push for blockchain technology gained steam after 2019 when President Xi Jinping called for corporations from tech giants to become industry leaders in the nascent tech.
IRS to summon users who don't report and pay tax on crypto transactions
The summons requires M.Y. Safra Bank to submit information about taxpayers who failed to report and pay their taxes on crypto.
GitHub unbans Tornado Cash repositories following OFAC guidance
Ethereum developer Preston Van Loon encouraged GitHub to fully restore Tornado Cash’s repositories after partial unbanning.
GitHub unbans Tornado Cash repositories following OFAC guidance
Ethereum developer Preston Van Loon encouraged GitHub to fully restore Tornado Cash’s repositories after partial unbanning.
BTC mining firm Compute North files for bankruptcy
Compute North’s hosting partners Compass Mining have stated that the firm will continue to operate business as usual at this stage.
Israeli crypto exchange receives capital markets license in country first
Earlier this week, the Israeli crypto exchange became the first crypto firm in the country to receive a license enabling it to work with local banks.
CTFC slammed for 'blatant regulation by enforcement' over Ooki DAO case
The CFTC’s actions have even been met with strong pushback from its own commissioner, while others have drawn comparisons to the SEC’s regulation by enforcement tactics.
CTFC slammed for 'blatant regulation by enforcement' over Ooki DAO case
The CFTC’s actions have even been met with strong pushback from its own commissioner, while others have drawn comparisons to the SEC’s regulation by enforcement tactics.
Rep. Warren Davidson: Stablecoin bill has 'outside chance' of finalizing this year
Earlier this week, new draft legislation on stablecoins came to light aimed at “endogenously collateralized stablecoins.”
Fork, yeah! Cardano Vasil upgrade goes live
Cardano’s newest hard fork is the blockchain's most significant update since adding smart contract functionality in September.
Rushing ‘token mapping’ could hurt Aussie crypto space — Fintech founder
Australian crypto entrepreneur Fred Schebesta said Australia already has a “fledgling” crypto industry but needs to “align with the other major markets."
Rushing ‘token mapping’ could hurt Aussie crypto space — Finder founder
Australian crypto entrepreneur Fred Schebesta said Australia already has a “fledgling” crypto industry but needs to “align with the other major markets."
XRP price breaks out of range with a 25% rally, but why?
XRP attracts buyers after the hope of a positive court ruling triggers a 25% rally above a key longer term resistance level.