Bloomberg ETF Analyst: XRP ETF may be the next exchange-traded fund product to be launched
Bloomberg ETF analyst James Seyffart forwarded market news on X platform, stating that during the Bitcoin 2024 conference, Discover Crypto CEO Joshua Jake was interviewed and he said that XRP ETF could be the next possible exchange-traded fund product to launch.
Analysis: Despite Ripple's victory, it remains unclear whether XRP will be more strictly regulated
Ripple recently achieved an unquestionable victory from a monetary perspective in a collective securities lawsuit, as the judge dismissed most of the lawsuit. However, the judge also confused his vision on a larger issue, implying that Ripple's XRP may be a security and therefore requires stricter regulation, which is contrary to the highly anticipated ruling last year.
Ripple CEO: California court's ruling on Ripple lawsuit does not change the fact that XRP is not a security
Ripple CEO Brad Garlinghouse recently clarified the recent court ruling on the Ripple securities lawsuit. US Northern District of California Judge Phyllis J. Hamilton made a summary judgment on federal and state class action claims, but under California law, refused to make summary judgments on individual claims.
Ripple CEO: The United States should become the financial center of blockchain technology
Ripple CEO Brad Garlinghouse still believes that the United States should be the global leader in blockchain and cryptocurrency, despite ongoing regulatory challenges and new lawsuits against the company. Ripple supporter JackTheRippler shared excerpts from Garlinghouse's CNBC interview on X platform. In the interview, he expressed regret for the US government's resistance to the cryptocurrency industry, stating that the industry is "falling behind" in Washington and is forced to be defensive. Garlinghouse attributed some of the challenges facing the US cryptocurrency industry to a lack of understanding among policymakers, while suggesting that some government officials may be intentionally opposing the industry.
Ripple clarifies XRP is not a security after court ruling
Ripple's Chief Legal Officer clarified that a California judge has dismissed all charges against Ripple for violating federal securities laws. He emphasized that Judge Analisa Torres' ruling on XRP's non-security status is "unaffected". On Friday, the US Northern District Court of California made summary judgments dismissing federal and state class-action claims against Ripple on the grounds of resting and lack of interrelatedness. This effectively eliminates the class-action claims against Ripple Labs.
Ripple Donates $25 Million to Crypto Super PAC Fairshake
Ripple has donated $25 million to the cryptocurrency super PAC Fairshake, bringing the total donations for the PAC to nearly $100 million before the November election.
Why is XRP price up today?
Key factors driving XRP's price upward today are hopes of spot XRP exchange-traded funds in the U.S. and increased accumulation by whales.
Ripple CEO: ETH and XRP are not securities, Gary Gensler is an "immoral person"
According to FOX journalist Eleanor Terrett on X platform, Ripple CEO Brad Garlinghouse said that ETH is not a security, and XRP is also not a security. The US SEC has made a "serious mistake" in this regard, and Gary Gensler is an "immoral person".
500 Million XRP Unlocked from Escrow in Unknown Wallet
Whale Alert monitoring shows that around 10:15 Beijing time, 500 million XRP (worth $248,531,377) was unlocked from an unknown wallet.
It is reported that Ripple plans to hold a settlement meeting with the US SEC next week
Ripple unexpectedly unlocked 800 million XRP (worth nearly $500 million) on the X platform earlier this month. It is expected to hold a settlement meeting with the US Securities and Exchange Commission next week. Ashley Prosper, a member of the XRP community, analyzed that the legal dispute between the US Securities and Exchange Commission and Ripple may end in a settlement. The main reasons include: the Second Circuit Court of Appeals rejected the SEC's request to revoke its seizure of illegal gains. It is worth noting that if the buyer did not suffer economic losses, the SEC has no right to recover the stolen money from the seller. In addition, it is unclear which institutional investor suffered economic losses from buying XRP from Ripple.
Ripple CTO rejects proposal to donate 30 billion XRP to XRPL Foundation
Panos Mekras, co-founder of Anodos Finance, suggested that Ripple donate about 30 billion XRP to XRPLF. He hopes that XRPLF will supervise the use of XRP through funding, marketing, and educational activities. In response, Ripple's Chief Technology Officer, David Schwartz, stated that executing this proposal is not feasible. Schwartz emphasized that simply transferring XRP to another entity and expecting responsible use is unrealistic.
Ripple announces two technological advancements in XRPL, involving EVM and AMM
Ripple has announced two major technological advancements for XRP Ledger (XRPL) through its development arm RippleX. These developments involve the release of a new version of Ethereum Virtual Machine (EVM) sidechain in the development network and an update to XRPL's Automated Market Maker (AMM) functionality. These two enhanced features are crucial for Ripple's strategy to enhance XRPL's cross-border payment and decentralized finance (DeFi) capabilities.
SEC will submit public version of opening brief on relief measures in Ripple lawsuit next week
According to a tweet from former US federal prosecutor and lawyer James K. Filan, the US SEC submitted its opening defense brief on remedies in the lawsuit against Ripple. The above-mentioned brief and supporting documents from the SEC were submitted in sealed form. Once the necessary revisions are completed, they will be made public. Specifically, the SEC and Ripple Labs will hold a meeting on March 25 to discuss necessary revisions. After the relevant revisions are made, the SEC will submit a revised public version of the remedial measures brief by March 26 or earlier. It is worth mentioning that this move is in line with the sealed requests made by both parties this week. When Ripple submits its opposition next month, the two sides will undergo a similar process. On April 22, Ripple will submit its opposition to the SEC's remedial measures brief in sealed form. The two sides will meet on April 23 to discuss necessary revisions and will submit a revised version of the opposition on April 24. In addition, the SEC will also submit a response to Ripple's opposition in the same manner. According to the joint sealing proposal, their response will be submitted in sealed form on May 6, and the two sides will meet on May 7 to discuss revisions and submit an edited version on May 8. (The Crypto Basic)
A total of 800 million XRP were locked to Ripple custody addresses this morning, worth approximately $476 million.
According to Whale Alert monitoring, a total of 800 million XRP were locked in three transfer transactions to Ripple's custody address this morning, with a value of approximately 476 million US dollars.
400 million XRP transferred from Ripple custodian wallet to Ripple address
According to Whale Alert monitoring, at 11:26:31 Beijing time, 400 million XRP ($217,409,122) was transferred from a Ripple hosted wallet to a Ripple wallet address.
Market Analysts Speculate Ripple's XRP Could Evolve Into a Gold-Backed Stablecoin
Market analysts are speculating that Ripple's XRP could potentially become a gold-backed stablecoin, which would differ from traditional USD-pegged stablecoins. Black Swan Capitalist Founder Versan Aljarrah believes that XRP could play a vital role in the development of a gold-backed stablecoin, as institutions like the World Bank and International Monetary Fund have been urging for such a development. Aljarrah cited research conducted by Black Swan Capitalist's financial analyst Vandell and Miles Franklin CEO Andy Schectman, which concluded that XRP is the "key" to a gold-backed stablecoin. However, former Ripple director Sean McBride believes that XRP is more likely to be classified as a payments stablecoin, rather than a traditional stablecoin.
Ripple plans to acquire digital asset platform Standard Custody
Ripple will acquire Standard Custody, a subsidiary of PolySign, and the transaction is awaiting regulatory approval. Ripple President Monica Long said that Standard Custody will enhance Ripple's regulatory toolset through its trust license in the United States.
Federal Judge Grants Ripple's Request for Extension of Time in SEC Lawsuit Discovery Requirements
A federal judge has granted Ripple's request to delay the deadline for remedies-related discovery by a week, which includes providing detailed financial statements and information on post-complaint XRP institutional sales. Ripple has agreed to comply with the order and all SEC requirements, but claims that providing three years of contracts for the sale of XRP is burdensome and will take time. The SEC and Ripple will prepare for legal briefs for proceedings in March and April, with the court deciding on which remedies to impose later. XRP's price has jumped 2% in the past 24 hours, currently trading at $0.52, while the trading volume has decreased by 5% in the last 24 hours.
Ripple lawyers seek to extend deadline for submitting materials to U.S. SEC by one week
According to CoinGape, Ripple's lawyers have written to US judge Sarah Netburn requesting a one-week extension to the deadline for submitting materials, from February 12 to February 20. Although Ripple fully complied with the order, providing financial statements for 2022-2023, institutional sales contracts after the lawsuit, and inquiries about post-lawsuit XRP institutional sales revenue, the company still believes the request is "overly burdensome."
Ripple lawyers seek to delay some discovery deadlines, saying requirements are "too onerous"
On February 7th, Judge Sarah Netburn approved the motion from the US SEC, requiring Ripple to provide financial statements for 2022-2023 and the XRP institutional sales contract after the complaint. Ripple's lawyers have submitted a new motion to Judge Torres. According to the latest court documents, although Ripple fully complied with the order to submit financial statements for 2022-2023, the institutional sales contract after the complaint, and inquiries about institutional sales revenue after the complaint, the company still believes that the request is "overly burdensome" and therefore requests to extend the deadline for remedial discovery evidence from February 12, 2024 to February 20, 2024. The company provided further evidence previously provided to the court, claiming the right to seek an extension of any discovery deadline.
