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.
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.
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.
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 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.
