¶ 21. The founders did not sell any XRP before the launch of the XRP Ledger, and Ripple never owned the 20 billion XRP retained by the three founders. SEC 56.1 Resp. ¶¶ 20, 22. Since its founding, Ripple’s mission has been to realize an “Internet of Value” b...
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However, as of now, and this is based on the case’s latest developments, it seems that Ripple is in a better position to win the case. The SEC has yet to present a clear argument as to why XRP should be classified as a security, while Ripple has provided a number of compelling rea...
D-California Rep. Brad Sherman, the Chair of a Congressional subcommittee focused on the Securities and Exchange Commission’s (SEC) enforcement division, has recently taken to Twitter to dispel any confusion surrounding his previous comments on Ripple’s XRP cryptocurrency. In a tweet, the Congress...
Unlike securities, the market value of XRP has not been correlated with Ripple’s activities. Instead, the price of XRP is correlated to the movement of other virtual currencies. As you all know, we have always tried to over-communicate, be as transparent as possible, and explain how we th...
Is This The End For Ripple And XRP? The impact of theSEC legal actionon XRP is already considerable. The coin price has been in free fall since yesterday and approaching the levels of late November. At the time of writing, XRP is down 30% in the past 24 hours, from $0.50 to $0.34...
Regarding the specific impact on the ongoing legal battle between Ripple and the SEC, Deaton noted that “the documents themselves don’t impact the judge’s underlying analysis of whether XRP was offered/sold by Ripple as an investment contract, or XRP’s status in the secondar...
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In some cases, SEC enforcement actions have led to a decline or increase in crypto prices. For example, in January 2018, after the SEC charged Ripple Labs with selling unregistered securities, the price ofXRP, Ripple’s native token, sharply dropped.32But it doubled in price in November 202...
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