Ripple

A document by Ripple employees revealed that the company intends to keep 25 billion XRP (or 25% of the total supply) to fund operations “and hopefully turn a profit.” The rest, or 75 billion XRP, will be distributed to the market to incentivize participants such as market makers, consumers and gateways to utilize the XRP Ledger and ecosystem dApps. A document authored in November 2014, which the XRP community recently dug up, reveals that Ripple only ever intended to keep…

Ripple faces a fresh civil securities lawsuit after Judge Phyllis Hamilton announced her approval and dismissed four allegations around the failure to register XRP as a security.  According to the allegation, Ripple’s boss Brad Garlinghouse made a statement in 2017 that allegedly misled people to invest in XRP.  The conclusion of Ripple’s (XRP) legal showdown hangs in the balance as Judge Phyllis Hamilton of the U.S. District Court for the Northern District of California approves a fresh civil securities lawsuit…

Ripple’s CEO calls for U.S. to lead in blockchain despite regulatory challenges. SEC may not appeal recent partial ruling in Ripple’s favor, suggesting case resolution. Despite continuing governmental obstacles and a fresh lawsuit against the company, Ripple CEO Brad Garlinghouse restated his goal for the United States to lead the world in blockchain and cryptocurrencies. Jack The Rippler, a well-known Ripple enthusiast, posted an excerpt from Garlinghouse’s CNBC interview. Garlinghouse voiced worries in the interview about the resistance the U.S.…

The SEC uses Ripple’s lawsuit ruling as supplemental authority in the Binance case. Judge Hamilton’s objective ruling on XRP’s third Howey test prong sparks debate. In its continuous legal dispute with Binance, the U.S. Securities and Exchange Commission (SEC) has now added a new twist by taking advantage of a recent decision from the Ripple class action lawsuit. Following a legal opinion from a California district court judge, which differs greatly from a Southern District of New York (SDNY) judge’s…

On June 20, Ripple Labs Inc. secured a significant win in the federal class action with Judge Phyllis J. Hamilton granting summary judgment to dismiss both federal and state class claims that XRP was sold as an unregistered security. Despite the dismissal of the class action claims, the court left the question of whether XRP is a security to be decided by a jury, based on the Howey test’s criteria. On June 20, Ripple Labs Inc. achieved a significant victory…

Ripple Labs has tapped a procedure win regarding a Class Action lawsuit it is facing in California. The case centers around the classification of XRP as a security, a suit that may form a crucial precedence. American technology company, Ripple Labs Inc. has been granted procedural victory in its ongoing case with the US Securities and Exchange Commission (SEC). The next phase of the case will be sorted at a jury trial, where clarity on XRP’s security status will be…

Ripple Labs transferred 250 million XRP, worth $122.50 million, to an unknown wallet, sparking speculation. The transaction and subsequent transfers have clouded the motive behind them, adding to market speculation amidst a bearish trend. Today, June 21, Ripple Labs transferred a significant amount of XRP, affecting the token’s market dynamics. 250 million XRP were transferred from Ripple to an unidentified wallet. This transaction has sparked a flurry of speculation regarding the future price swings of XRP. Big XRP Transfer by…

The Ripple vs SEC lawsuit appears to be approaching a potential resolution as reports suggest the SEC may not appeal Judge Analisa Torres’ recent partial judgment favoring Ripple Labs. This strategic move by the SEC aims to prevent further escalation of the case in higher courts, signaling a significant shift in legal strategy. The latest development in the market suggests that the long-going Ripple vs SEC lawsuit might be nearing its end soon. One recent report suggests that the U.S.…

The post Ripple Wins Big in Class Action Suit, But XRP Security Decision Still Pending appeared first on Coinpedia Fintech News The war between Ripple and the SEC just got hotter! In a recent development, the U.S. District Court for the Northern District of California dismissed several major claims in a class action lawsuit against Ripple, providing a procedural victory for the company.  Judge Phyllis Hamilton granted Ripple’s motion for summary judgment on federal class claims for unregistered and state…