Crypto Evening Briefing: Crypto Startups Raise Approx $52 Million in the Past Week
Last week, crypto startups raised approximately $52 million, with Fedi raising $17 million and zkLink raising $10 million.
Ripple CEO Reveals $200 Million Spent Defending SEC Case
Ripple CEO Brad Garlinghouse revealed that the company has spent $200 million defending itself against the lawsuit brought by the SEC. He expressed regret about the US falling behind in crypto regulation compared to the UAE and Europe. Garlinghouse advised entrepreneurs not to start in the US due to politics being put ahead of policy. The situation is ongoing, and more information will be added as it becomes available.
LimeWire Integrates XRP as a Payment Method
Blockchain-based content sharing platform LimeWire has integrated XRP as a payment method for its ongoing Initial Coin Offering (ICO) event of its proprietary LimeWire token (LMWR). This allows XRP investors to participate in the public sale event using their XRP tokens, with XRP set to list on four major exchanges on May 16. LimeWire had to integrate XRP after the XRP community generated more than the required 300 retweets for the payment method's inclusion in less than two hours. The minimum purchase for the token is set at 418 XRP, and the sale is expected to end in the next three days.
Coinbase Is Transitioning From Crypto Exchange to Crypto-Enabled Banking Services, Says Former Ripple Exec
In Q1 2023, Coinbase's revenue on deposits via interest income, blockchain rewards, and custodial fees made up the majority of its revenues.
Analyst Says $10 or $27 in the Grab for XRP with its Current Bullish Position
And this recent prediction from Egrag, a cryptocurrency analytics firm, is suggesting that the price of XRP could reach $10 or $27 by the end of 2025.
Crypto Evening Briefing: Bitcoin Miners Reap Profits As Mining Difficulty Hits 3-Month Low
Bitcoin miners have received a boost in profits after the scheduled difficulty level adjustment resulted in a positive balance, which is the first time since February that the difficulty has decreased.
Ripple Board Member Hints Coinbase’s Next Move
Coinbase, the largest cryptocurrency exchange in the United States, has won the first legal round against the Securities and Exchange Commission (SEC) to achieve regulatory clarity around digital asset trading. Amid this win, Coinbase has announced the launch of an international exchange offering Bitcoin and Ethereum perpetual futures. Asheesh Birla, a board member at Ripple, has hinted that Coinbase is transitioning from a crypto exchange to a crypto-enabled banking service, with a mission to build a more fair, efficient, accessible, and transparent financial system for digital assets. Coinbase has also stated its dedication to partnering with high bar regulators across US and non-US jurisdictions to update the financial system.
Ripple CEO Issues a Message to XRP Supporters
Ripple CEO Brad Garlinghouse expressed gratitude for the support of the XRP community amid the ongoing legal battle with the Securities Exchange Commission (SEC). Garlinghouse made the remark following his participation in the XRP Las Vegas 2023 event, a two-day conference exclusively dedicated to members of the XRP community. The community's support has not gone unnoticed by Ripple's leadership, and Garlinghouse anticipates the legal matter to be concluded in the first half of 2023. Recent developments, including the SEC's case against Ripple being weakened, could have implications for the outcome of the legal case and the broader regulatory framework for cryptocurrencies. XRP continues to trade in tandem with the general market, with the token trading at $0.46 at press time.
Deaton and Former SEC Lawyer Clash Over Ripple XRP Sales
Legal experts are engaging in a heated debate regarding Ripple's XRP sales, which the United States SEC charged Ripple and two of its execs with selling unregistered securities in the form of XRP in December 2020. Pro-XRP lawyer John Deaton engaged former SEC attorney Marc Fagel in a debate over the charges filed by the securities regulator, and Fagel noted that the SEC has a better summary judgment argument than Ripple. However, Deaton has a problem with the way the SEC laid out its argument, which is capable of implicating secondary market transactions. Deaton asserts that the SEC's argument is far-fetched, traveling through space and time into the future and capturing all possible future sales, and they cannot categorically state that the law backs the SEC's argument in the Ripple or protects investors. The development comes days after Australian-based lawyer Bill Morgan urged XRP holders to engage Fagel politely.
Coinbase Chief Legal Officer Reacts to XRP Relisting Concerns
Coinbase's Chief Legal Officer, Paul Grewal, has stated that the exchange would only consider relisting XRP if the cryptocurrency meets certain conditions. Grewal emphasized that Coinbase would conduct a thorough assessment of XRP, even if the judge presiding over the Ripple-SEC lawsuit classifies it as a non-security. He added that Coinbase is eager to hear Judge Analisa Torres' final verdict and will weigh the court's determination before making any decision about relisting XRP. Coinbase delisted and ceased trading for XRP in 2021 following the SEC's lawsuit against Ripple, claiming that XRP is an unregistered security. The XRP community has been calling for the relisting of the cryptocurrency, but Coinbase cites regulatory issues as the reason for not supporting it.
Ripple CEO Praises XRP Army in Fight Against SEC
Ripple CEO made this known following a meeting with some XRP community members at the XRP Las Vegas 2023 event.
XRP Lawyer Confident Of Public Interest Consideration By Judge Analisa Torres
John Deaton, the attorney representing XRP token holders in the SEC lawsuit, expressed confidence that the community support will work in favor of Judge Torres’ decision. He made the comment in context of speculation on Coinbase listing XRP and Ripple’s XRPL using the token.
Ripple Could Gain A New Ally Against The SEC, BitBoy
Crypto influencer Ben Amstrong, alias Bitboy, has dropped a hint regarding the ongoing XRP lawsuit. The influencer asserted that Ripple and XRP could get a new ally in the ongoing SEC lawsuit.
Pro-XRP Lawyer Castigates The SEC’s Argument Saying It’s Unfounded And Absurd
Prominent lawyer and supporter of XRP, the cryptocurrency created by Ripple, has criticized the U.S. Securities and Exchange Commission's (SEC) case against Ripple and its executives.
BitBoy Mentions Potential Key Ally to XRP Against SEC
Coinbase could become a key ally for Ripple and XRP in their ongoing legal battle with the US SEC, according to BitBoy, a prominent crypto influencer. This comes after the Chief Legal Officers of Ripple and Coinbase, Paul Grewal and Stuart Alderoty, respectively, recently had a meeting. While the details of the meeting are unknown, it has led to speculation of an alliance between the two companies. Notably, Coinbase recently filed a lawsuit against the SEC, seeking regulatory clarity for the crypto industry. This move has elicited excitement within the XRP community, with many believing an alliance with Coinbase would be beneficial for both companies.
Pro-XRP Attorney Shares Information That Could Be Bullish For Ripple
Attorney Jeremy Hogan took to Twitter to share a previous ruling by Judge Analisa Torres in another case involving a crypto mining company Rio Tinto and the SEC. In the cutout of the ruling posted by Hogan, it shows that the judge previously ruled that there was no liability on the part of Rio Tinto when “the sole basis for such claims is alleged misrepresentations or omissions,” something that is also present in the Ripple case.
Coinbase And Ripple CLOs Meet, Will XRP Listing Follow?
A new tweet by Coinbase Chief Legal Officer (CLO) Paul Grewal has sparked interest and speculations in the crypto community. The CLO expressed his appreciation to Ripple’s General Counsel, Stuart Alderoty, for their meeting, stating they needed to meet more often.
Q1 2023 XRP Markets Report
Ripple publishes the quarterly XRP Markets Report to voluntarily provide transparency and regular updates on the company’s views on the state of crypto markets, including its quarterly XRP sales, relevant XRP Ledger and XRP-related announcements, and commentary on market developments over the previous quarter.
Coinbase Top Official Responds to XRP Relisting in Latest Interview
In a recent interview, Coinbase's Chief Legal Officer, Paul Grewal, responded to questions about the company's decision to relist XRP on its platform. Grewal stated that the decision to relist XRP was based on a number of factors, including the resolution of the SEC's lawsuit against Ripple, which had accused the company of selling XRP as an unregistered security. Grewal also noted that Coinbase had conducted its own analysis of XRP and had concluded that it was not a security. The relisting of XRP on Coinbase is seen as a significant development for the cryptocurrency, which has been embroiled in regulatory uncertainty over the past year.
Coinbase Legal Head Meets Ripple Chief Legal Officer; Will Coinbase Relist XRP?
The Chief Legal Officers of Coinbase and Ripple, Paul Grewal and Stuart Alderoty respectively, recently met for an offsite meeting amid the ongoing regulatory battle for clear regulations from the US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). The meeting between the two companies comes as they both seek regulatory approval from the SEC. Coinbase has gone international as it awaits clear rules, while Ripple Labs and its executives await a summary judgment in the long-running lawsuit with the SEC. (coingape)
