Attorney Deaton Highlights Excerpt of Judge Torres' Ruling That Could Affect Ripple's Lawsuit Against SEC
Attorney John E. Deaton has drawn attention to a section of Judge Analisa Torres' latest ruling that could harm Ripple's chances of winning its lawsuit against the SEC. XRP supporters are celebrating Judge Torres' decision to deny the SEC's motion to seal the draft of William Hinman's 2018 speech, and XRP Productions has created a Twitter space to discuss the ruling. However, Deaton has expressed concern that a portion of the ruling could negatively impact Ripple's case, specifically related to financial data and the Howey analysis. The court is making progress towards issuing a summary judgment for the lawsuit, with Ripple expecting it to come before the end of the year.
Ripple's Alleged Payment to Coinbase for XRP Listing Reignites Speculation
Allegations that Ripple paid Coinbase to have XRP listed on its platform first surfaced in April 2018 and were reignited following a recent ruling in the Ripple vs. SEC case. ScamDetective, an anonymous on-chain scam detector, asked for information on how much Ripple paid Coinbase, but Ripple's CTO, David Schwartz, has refused to provide further details. Some believe Schwartz's response implies there is undisclosed information regarding XRP's listing on Coinbase. Bloomberg first reported the allegations in 2018, claiming Ripple offered $100 million to Coinbase for the exchange to list XRP, but Miguel Vias, Ripple's former Head of XRP Markets, debunked the claims in 2019. However, the allegations resurfaced following Judge Torres' recent rulings in the SEC case.
Ripple Secures Another Win as Judge Denies SEC's Motion to Seal Hinman Speech Documents
Ripple Labs has secured another win in its legal battle against the US Securities and Exchange Commission (SEC). The court denied the SEC's motion to seal the Hinman speech documents, which the agency claimed reflected non-public deliberations by its officials. However, the court overruled the SEC's objections and found that the documents did not fall under the deliberative process or attorney-client privileges as claimed by the SEC. This is a developing story and more updates are expected. Additionally, a list of crypto presale projects and Telegram channels for 2023 has been updated.
SBI Japan Looks to Ripple to Boost Its Web3 Business Growth
Japanese company SBI Group is focusing on expanding its Web3 business and attracting institutional clients to benefit from its crypto-centric services. Despite a decline in revenue from its crypto-related business, SBI is committed to enhancing its presence in the Web3 sector to increase revenue and customer base. The company plans to pioneer new business domains that introduce innovative technologies domestically and internationally while transcending traditional financial boundaries. SBI is leveraging Ripple's offerings, including its On-Demand Liquidity product, to drive business growth and strengthen its Web3-related activities.
Ripple Secures Major Win Against SEC as Hinman Docs to be Made Public Soon
Ripple has won a major victory against the SEC as Judge Analisa Torres ruled that documents related to William Hinman should be made public. Ripple CEO Brad Garlinghouse confirmed that the company's lawyers are working to release the emails. The SEC had argued that the documents should be sealed to preserve "openness and candor," but Judge Torres disagreed and emphasized that the documents could potentially influence the court's decision-making process. The documents are considered judicial documents and should generally be available to the public, regardless of whether they are used as evidence or not.
Judge rules SEC cannot seal "Hinman Speech documents" in Ripple case
A judge has ruled that the US Securities and Exchange Commission cannot seal certain documents related to a 2018 speech by former agency director Bill Hinman in its case against Ripple. The SEC had wanted to seal the "Hinman Speech documents" which contain "nonpublic deliberations" among SEC officials in connection with the speech. The SEC argued that the documents should be sealed due to their lack of relevance to the summary judgment motions and because their disclosure "would be highly prejudicial to the SEC". However, the judge disagreed and stated that the documents are judicial documents subject to a strong presumption of public access. Some of Ripple's documents, including audited financial statements and forecasts, will remain sealed.
Judge Denies SEC's Motion to Seal Hinman Documents in Ripple Lawsuit
In the ongoing legal battle between Ripple and the SEC, the court has denied the SEC's motion to keep the Hinman documents sealed. These documents contain details of a former SEC official who stated that Ether was not a security and are a critical part of Ripple's defense. District Judge Analisa Torres upheld the previous ruling by Judge Netburn, ruling that the SEC cannot seal the documents as they are relevant to the judicial process. The order allows for redactions of personal information but denies redactions related to XRP, causing a 4% surge in its price.
US Judge Rules Against SEC Motion to Seal Controversial Hinman Documents, Seen as Win for Ripple and Crypto Community
The motion to seal the Hinman documents by the US securities regulator has been denied by Judge Analisa Torres for the US District Court. This ruling is seen as a victory for the Ripple and crypto community, as the documents are now subject to a strong presumption of public access. Judge Torres rejected the SEC's argument that sealing the documents was necessary to preserve "openness and candor" within the agency. The price of Ripple's XRP spiked by 2.6% on the news and is currently trading at $0.43. This is a developing story, and more information will be added as it becomes available.
Coinbase's relisting of XRP could affect pending litigation if Ripple loses SEC lawsuit, says attorney Jeremy Hogan
Lawyer Jeremy Hogan has warned that Coinbase could face negative consequences in its pending litigation if it relists XRP before the SEC vs. Ripple lawsuit is resolved. Hogan believes that if Ripple loses the lawsuit, Coinbase would be put on the back foot. Coinbase delisted XRP after the SEC charged Ripple with violating securities laws. The SEC has responded to Coinbase's writ of mandamus, stating that it is not in a hurry to establish rules for crypto and will continue to use enforcement actions instead of rulemaking.
SBI Japan Looks to Strengthen Web3 Business to Attract Institutional Clients and Expand Crypto Offerings with Ripple
SBI Japan, a leading financial firm and Ripple partner in Japan, is aiming to strengthen its Web3 business to attract more institutional clients through crypto-related offerings and comprehensive Web3 services.
Nodes on XRP Ledger Can Choose To Accept or Decline Amendments Voted Into Effect by Validators, Says Ripple CTO David Schwartz
David Schwartz, the CTO of Ripple, has emphasized the level of decentralization on the XRP Ledger (XRPL) in terms of governance voting. He explained that nodes on the XRPL can choose to accept or decline amendments voted into effect by validators, particularly regarding the escrowed XRP owned by Ripple.
Speculations arise over Ripple's development of blockchain ecosystem in South Korea
Speculations have arisen in the XRP community about Ripple's development of a blockchain ecosystem in South Korea. This follows the circulation of documents linking Ripple to a blockchain policy paper in the country, which highlights a proposed framework for GBC Korea's GMAP platform to help retail investors engage in mergers and acquisitions. While some are excited about the potential development, others are taking the assertion with a pinch of salt. It is unclear if Ripple plans to extend its reach into South Korea or provide blockchain-based payment solutions to GBC Korea, as neither company has made any official statement on the matter.
XRP Consolidates Above 200-Day Moving Average, Risks of Bullish Breakout Rising Amid Ongoing Legal Battle with SEC
XRP, the cryptocurrency behind the XRP Ledger, is currently consolidating above its 200-Day Moving Average but has been in a downtrend since mid-April, leading to negative price predictions. If XRP does not break out of this downtrend, it may retest the 200-Day Moving Average and potentially even fall below it, leading to a retest of March lows. The conclusion of the legal battle between the US Securities and Exchange Commission and Ripple could be a potential catalyst for an XRP surge, but it may take a few years and further fiat currency debasement for XRP to post significant gains. Investors may want to consider diversifying their crypto holdings by investing in presales of projects with a great vision for delivering revolutionary crypto applications/platforms. Cryptonews has compiled a list of the 15 best crypto presales of 2023, according to their project evaluation, to assist investors in identifying such projects. Please note that the Industry Talk section contains insights from crypto industry players and is not part of Cryptonews.com's editorial content.
Indie Game Developer Equilibrium Games Launches Free-to-Play Open Beta for Blights Wrath, with Optional NFTs on XRP Blockchain
Equilibrium Games, an indie game developer and publisher, has launched a free-to-play open beta of their first game, Blights Wrath, a PC action RPG inspired by popular titles like Elden Ring, Dark Souls, and Diablo 2. While the game still has some bugs and glitches, Equilibrium's founder, Daniel Gutmann, is passionate about game development and hopes to bring back the focus on gameplay. Blights Wrath will sell optional cosmetic NFTs on the XRP blockchain and allow gamers to earn Equilibrium's EQ token by completing daily quests. Equilibrium Games is already working on their next project, World of Equilibrium, a hardcore MMORPG.
XRP Technical Indicators Suggest Possible Reversal in Price Amid SEC Lawsuit and Regulatory Uncertainty
The amount of XRP held in Ripple wallets has dropped below 50% of the outstanding supply, according to the Q3 XRP Markets Report. Despite the ongoing SEC lawsuit against Ripple, the XRP community remains strong. Technical analysis shows a bearish trend for XRP, but there is potential for an upside trend if it breaks above the resistance level of $0.46. Various XRP price predictions suggest that the cryptocurrency could reach a maximum price of $21.63 in 2032, but forecasts are subject to change due to XRP's high volatility and the ongoing lawsuit.
Ripple (XRP) Price Holds Key Support: Bullish or Bearish?
Ripple's XRP has maintained a price level of around $0.43 with a net change of less than 1% over the past week. Despite the uncertain market sentiment, long-term XRP investors have stopped selling, which could lead to a bullish price prediction in the coming days. On-chain data shows that XRP could soon enter a prolonged price rally due to an uptrend in network traction and renewed confidence among long-term XRP holders. The increase in daily active addresses on the XRP network and the rise in mean coin age across the Ripple network suggest that the bullish XRP price prediction will be validated if stakeholders continue to increase network activity and investors HODL longer.
Ripple Could Burn All XRP Tokens in Escrow, Says Former Developer Advocate Matt Hamilton
Former Principal Developer Advocate at Ripple, Matt Hamilton, has suggested that Ripple could burn all of the XRP tokens currently stored in its escrow wallets if it chooses to do so. Hamilton explained that Ripple could disable the master key for the accounts that are programmed to receive the escrowed tokens when they are released, rendering them inaccessible to anyone, including Ripple.
Ripple's Chief Legal Officer Exposes SEC's Unlawful Legal Practices in ongoing Legal Battle
The legal dispute between Ripple Labs and the US Securities and Exchange Commission (SEC) is still awaiting a ruling from Judge Analisa Torres. Ripple CEO Brad Garlinghouse recently stated that a ruling would likely come in “two to six months” rather than the first half of 2023. Despite this, Ripple’s Chief Legal Officer Stuart Alderoty continues to criticize the SEC and expose its unlawful legal practices.
Attorney Morgan explains how the SEC plans to prove XRP is a security
Lawyer Bill Morgan has speculated on how the US Securities and Exchange Commission (SEC) plans to prove that XRP is a security. Morgan believes that the SEC wants to expand the Howey test to cover cryptocurrencies by taking an extensive view of common enterprise, which has made it difficult for anyone to pinpoint the common enterprise in the SEC vs. Ripple case.
Cryptocurrency Market Faces Bearish Pressure with Signs of Potential Recovery
The cryptocurrency market has been dominated by bearish momentum, with most cryptocurrencies trading around support levels. Bitcoin and major altcoins have experienced a decline, but there are signs of a potential recovery. Ethereum has seen a significant drop, with the possibility of further decline. XRP has been the most affected by bearish pressure, and the market could show signs of recovery if buying pressure increases next week. However, Bitcoin is facing pressure due to the relief rally in the U.S. dollar index, and the bears are firmly in control for now. Despite this, some coins may potentially recover in the near future, although the overall outlook for the crypto market remains bearish.
