Crypto recovery firm proposes to hack Ripple’s former CTO’s $244 million Bitcoin hard drive
Cryptocurrency recovery company Unciphered has proposed unlocking an IronKey hard drive belonging to Ripple's former CTO Stefan Thomas, which contains 7,002 BTC (approximately $244 million at the time of publication). The former chief technology officer of Ripple forgot the information to access the drive, which is designed to erase its data after ten incorrect password attempts. Eight attempts have been completed so far, with two remaining chances.
Two Whales Transferred Nearly 500 Million XRP, of Which 26.5 Million XRP Was Transferred From Ripple Labs to Bitstamp
According to Whale Alert, in the past 24 hours, two whale addresses have transferred nearly 500 million XRP. The first wallet transferred 412,334,412 XRP tokens, worth about $213 million, while the second wallet transferred 26,500,000 XRP, or $13 million. XRP transfers are sequential, and the 26.5 million XRP in the second transaction was sent by Ripple Labs to the cryptocurrency exchange Bitstamp.
XRP Ledger Wallet Xumm: Samsung Mobile Operating System Update Has Impact on Wallet Security Data Storage
Xumm, the XRP Ledger wallet, has issued an official announcement stating that the Samsung operating system update released on October 12th has damaged the secure data storage of Xumm Wallet, causing the app to be unable to open again after the update, especially for Samsung Galaxy S21 users.
Lawyer’s opinion: SEC’s chance of winning in appeal against Ripple is 3%-14%
According to lawyer Bill Morgan's post on X platform, the chances of the US SEC winning the appeal against Ripple are very slim. Morgan believes that there are no obvious appealable errors except for the advantage that "Ripple does not meet at least two aspects of the Howey test in ODL sales". He also added that the possibility of the SEC successfully appealing against Ripple is very slim, about 3%. Morgan's prediction is based on another statistical data shared by famous lawyer Jeremy Hogan, who shared government data on the success rate of appeals in different types of lawsuits. The data shows that the SEC has a 14.2% chance of winning the appeal against Ripple. (Cointelegraph) Previously, Ripple announced that the US Securities and Exchange Commission (SEC) has dropped all charges against its CEO Brad Garlinghouse and Executive Chairman Chris Larsen. Previously, Ripple has had two successful cases, including a court ruling in July 2023 that "XRP itself is not a security" and a federal judge's decision in October to reject the SEC's appeal request.
XRP Lawyer Criticizes Lightning Network and Endorses 'Spend The Bits' Protocol
John Deaton, a legal expert and advocate for cryptocurrency, has criticized the Lightning Network and endorsed the 'Spend The Bits' protocol on the XRP Ledger as a superior alternative. Deaton, who is an angel investor and Chief Legal Officer for 'Spend the Bits', has previously praised the protocol as a faster and more secure way to spend Bitcoin than the Lightning Network.
SEC Drops Charges Against Ripple Labs Executives, XRP Surges by 7%
XRP saw a 7% surge in price after the SEC dropped its claims against Ripple Labs executives Brad Garlinghouse and Chris Larsen. The SEC had charged the two executives with violating US securities law for almost three years. However, the SEC submitted a letter to Judge Analisa Torres to dismiss the claim, stating that they did not have enough evidence to prove their case. XRP's price increase may also be due to positive developments in the cryptocurrency market as a whole, with other cryptocurrencies such as Solana also seeing price increases.
Bitcoin eyes $30K, XRP price jumps 6% after Ripple’s legal victory
Bitcoin keeps heading higher as BTC price strength flies in the face of a hawkish Fed, but concerns over a retracement are building.
Fox Reporter: Regarding other parts of the Ripple case, SEC Chairman will not "give up without a fight"
Eleanor Terrett, a journalist from Fox News, stated on X platform that sources close to the SEC revealed that although the lawsuit against Ripple CEO Brad Garlinghouse and co-founder Chris Larsen has been dismissed, all other parts of the case, including all quotations and sales categories of XRP as an investment plan, are still pending resolution. SEC Chairman Gary Gensler does not seem to be willing to "surrender without a fight."
The SEC’s Withdrawal of the Case Against Ripple Executives Is Not a Complete Victory, Ripple Still Needs to Pay the Fine
Encryption analyst Phyrex posted on X platform, stating: "First of all, it needs to be clear that this rejection was applied by the SEC with the consent of both parties, which means that the SEC rejected its own application... It is believed that this is a comprehensive victory for Ripple, but this is not the case. This is only the SEC giving up the prosecution of two executives, and fines still need to be imposed."
XRP Jumps as SEC Drops Charges Against Ripple's Top Leaders
XRP experienced its best daily percentage gain in three months after the SEC dropped securities-violations charges against Ripple's top leaders. The world's fifth-largest digital asset rose 6.5% to 52 cents before pulling back to 51 cents at press time. The SEC agreed to dismiss allegations against Ripple CEO Brad Garlinghouse and co-founder Chris Larsen, months after the Southern District of New York said Ripple's offer and sale of XRP on digital asset exchanges did not violate securities laws.
Ripple Chief Legal Officer: The US SEC’s Withdrawal of Charges Against Executives Is Not a Settlement, but a “Surrender”
October 20th, Ripple's Chief Legal Officer Stuart Alderoty posted on social media stating that "the U.S. Securities and Exchange Commission made a serious mistake when charging Brad & Chris individually. Now they have surrendered and dismissed all charges against our executives. This is not a settlement. This is the SEC's surrender."
Earlier today, the U.S. SEC dropped all charges against Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen.
SEC drops claims against Ripple executives in securities law lawsuit
The U.S. Securities and Exchange Commission has dropped claims against two executives of Ripple Labs in its lawsuit alleging the blockchain company violated U.S. securities law. The agency is dropping claims that Ripple Chief Executive Brad Garlinghouse and co-founder Chris Larsen aided and abetted sales of the cryptocurrency XRP which a judge has found amounted to unregistered sales of securities. The SEC accused Ripple of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP in its December 2020 lawsuit. U.S. District Judge Analisa Torres granted Ripple a partial win in the case in July, finding that sales of XRP on public exchanges were not unregistered securities offerings.
Deaton Reacts To SEC's Change of Mind Regarding Spot Bitcoin ETF
Lawyer John Deaton, a proponent of XRP, has commented on the recent change in the SEC's tone regarding spot Bitcoin ETFs, suggesting that Gary Gensler may have personal reasons for the shift. Deaton believes that while Gensler's perspective on Bitcoin may not have changed, the SEC's recent court loss and criticism from federal judges may have influenced the change in tone.
Roblox Denies Support for XRP Payments Despite False Claims on Social Media
Roblox has denied rumors that it will support XRP payments for in-game items, despite claims that spread on social media. The rumors began when payments processor BitPay tweeted that users could use Ripple's XRP token for Xsolla payments in supported games, including Roblox. However, BitPay later deleted the tweet, citing an error. Roblox representatives confirmed that the claims are false and that the only payment options available for in-game currency are credit card, debit card, gift card, PayPal, Venmo, Klarna, CVS Pharmacy payments, or a Paysafecard.
BitPay and Xsolla Partner to Integrate XRP Token for Gaming Payments
BitPay, a well-known cryptocurrency payment service provider, has teamed up with Xsolla, a global video game commerce company, to incorporate the XRP token. Xsolla now accepts XRP as a payment method for games such as Smitegame and Roblox, demonstrating the growing relevance of cryptocurrency in the gaming industry. BitPay will facilitate the integration of XRP, ensuring smooth connections with cryptocurrency wallets for users of the gaming platforms. This partnership began in 2014 when Xsolla started processing Bitcoin payments via BitPay and has since expanded to include various cryptocurrencies.
Ripple job posting hints at possible IPO
Ripple released a new job posting on October 16th for a "Senior Manager, Shareholder Communications" position in various locations within and outside of the United States. This job posting has led many cryptocurrency enthusiasts to view it as an official hint of the company's plans to go public.
The job posting outlines the position's requirement for direct communication with shareholders, a concept typically associated with public companies. The selected candidate will be responsible for developing communication and relationship management strategies for "existing and potential investors, existing shareholders, and financial analysts", and implementing them.
The job description emphasizes that the candidate must develop strategic plans specifically tailored to "mergers and acquisitions, investments, liquidity events, and other significant moments".
The responsibilities of the Senior Manager of Shareholder Communications include creating investor-centric materials such as "presentations, overviews, case studies, and analyses". These documents help inspire and educate potential investors about the company's prospects and performance, and are a necessary component of the initial public offering (IPO) preparation process. The position also includes maintaining the shareholder database and managing quarterly updates and other daily communications.
409,776,402 XRP transferred from Bitvavo to unknown wallet
According to Whale Alert monitoring data, at 16:05 today Beijing time, 409,776,402 XRP were transferred from Bitvavo to an unknown new wallet.
Ripple's XRP Transfers Spark Speculation About Company's Intentions and Connection to Crypto Exchanges
On October 17, the XRP crypto caught the attention of investors due to two large transfers totaling $52 million reported by Whale Alert. Ripple, the company behind XRP, made these transfers, sparking speculation about their intentions and connection to crypto exchanges. The first transfer of 75 million XRP, worth $36.9 million, was sent from Ripple to an unknown wallet, leading to speculation that the wallet may be connected to the company.
Ripple CLO: The United States needs a reasonable regulatory framework
Stuart Alderoty, Ripple's Chief Legal Officer (CLO), discussed cryptocurrency regulation in the United States. Alderoty stated that we need to stop prioritizing politics over sound policy in the United States and focus on the clear frameworks and licenses developed by Singapore, the UK, the EU, and Dubai.
Alderoty explained that countries and regions outside the United States have "reasonable" cryptocurrency regulations, citing Singapore, the UK, the EU, Dubai, Brazil, Australia, and Japan as examples. He emphasized that these countries have "reasonable regulatory frameworks that do not necessarily drive innovation, but instead say, hey, look, if you want to come into our country and develop this innovation, you can do it as long as you meet our strict regulatory regime."
In contrast, in the United States, we have lost our way because our politics and power are above sound policy. Certain institutions in the United States are fighting for technical control from a regulatory perspective, rather than focusing on the right policy outcomes.
