The president of payments firm Ripple says the company is aiming to be the number one digital aset infrastructure provider for financial services. In a new company blog post, Ripple president Monica Long says the firm is looking at more opportunities to move the traditional finance (TradFi) world over to more modern financial tools. Long […]
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Digital investment products are witnessing solid buying, but it may take a stronger trigger to propel Bitcoin to a new all-time high.
The S&P 500 Index (SPX) plunged about 2% last week, but the weakness in the equity markets could not dampen the enthusiasm of the cryptocurrency traders. Bitcoin (BTC) made a strong comeback, rising roughly 12% for the week.
According to CoinShares da, digital asset investment products witnessed strong inflows of $1.35 billion last week, taking the total inflows in the past three weeks to $3.2 billion. Bitcoin’s strength also resulted in outflows of $1.9 million from short-Bitcoin exchange-traded products.
Even after the recent rally, Bitcoin remains stuck inside a sideways price action. As the price nears the resistance, the bears are likely to pose a strong challenge. However, analysts are optimistic about Bitcoin hitting a new all-time high.
The XRP Ledger (XRPL) has witnessed a surge in address activity this week, coinciding with a price pump for the crypto asset. The crypto analytics firm Santiment notes that the XRPL has recently seen a substantial amount of both new addresses created and total addresses interacting on the network, with both metrics hitting their highest […]
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Ripple CEO Brad Garlinghouse has criticized the politicization of cryptocurrency in the U.S., stressing the necessity of a bipartisan approach and clear regulatory guidelines. He condemned the partisan divide in crypto innovation, particularly addressing Senator Elizabeth Warren’s characterization of cryptocurrencies as tools for illicit activities. Garlinghouse called for bipartisan cooperation to fully realize crypto’s benefits. […]
Strong inflows into spot Bitcoin ETFs suggest that the sentiment has turned positive, and traders are buying aggressively.
Bitcoin (BTC) has been conquering overhead resistance levels one by one, signaling that the bulls are gaining confidence. Farside Investors data shows $422 million in inflows into the United States-based spot Bitcoin exchange-traded funds (ETFs) on July 16.
BlackRock’s iShares Bitcoin Trust (IBIT) once again crossed $20 billion in assets under management after its latest purchase of 4,004 Bitcoin. The fund had earlier surpassed $20 billion in AUM in late May. Looking at the massive inflows, ETF Store president Nate Geraci said in a post on X that it is not only the retail investors; even advisers and institutional investors have been buying.
Bitcoin’s recent rise has improved sentiment, and analysts are speculating how soon a new all-time high could be achieved. While anything is possible in the markets, the current up move is expected to face solid selling between $70,000 and the all-time high near $74,000. Expect markets to remain volatile in the near term as some of the creditors of the defunct Mt. Gox exchange sell their repayments.
Ripple has exited its positions in the crypto exchange Bitstamp, the money transfer firm MoneyGram and the cross-border payments company Tranglo, according to data from Crunchbase.
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Top crypto firms in the US are reportedly sending delegations to the Republican National Convention in Milwaukee this week.
The post Executives From Coinbase, Ripple and Another Crypto Firm Now Making Their Case to Republican Power Brokers: Report appeared first on The Daily Hodl.
Ripple has the back of one its strongest supporters in his attempt to unseat powerful Senate crypto foe Elizabeth Warren.
Ripple has donated $1 million to the super political action committee (PAC) Commonwealth Unity Fund to support John Deaton's campaign in the Massachusetts Republican senatorial primary on Nov. 5. Deaton is challenging incumbent Democratic US Senator Elizabeth Warren, who is an ardent crypto opponent.
Deaton is a lawyer best known to the crypto community for his support of Ripple Labs. His law practice concentrates on victims of mesothelioma and asbestos-related diseases. He also owns the website CryptoLaw.
Deaton spearheaded the so-called XRP Army of tokenholders who volunteered to serve as third-party volunteer defendants in the Securities and Exchange Commission’s (SEC) suit against Ripple. He has also submitted numerous amicus curiae letters in high-profile SEC cases against crypto firms.
Ripple’s chief executive and chief legal officer have reflected on the crypto firm’s win against the U.S. Securities and Exchange Commission (SEC) regarding XRP as the anniversary of the court ruling approached. The CEO described the ruling as a milestone for both Ripple and the cryptocurrency industry. “The court’s ruling that XRP is not a […]
While challenges remain, Ripple’s victory has set a precedent that could shape the future of the cryptocurrency industry for years to come.
July 13, 2023, saw a landmark ruling in the United States Securities and Exchange Commission’s (SEC) case against Ripple Labs. The ruling determined that the XRP token is not a security when sold on public exchanges. The decision had implications for the cryptocurrency market and the regulatory landscape in the US.
The ruling was a significant victory for the blockchain-based digital payment network and set a precedent for classifying cryptocurrencies. The SEC initially filed a lawsuit against Ripple in December 2020, alleging that the company had conducted an unregistered securities offering by selling XRP (XRP) tokens.
However, Ripple argued that XRP should be considered a currency rather than a security, and after a lengthy legal battle, the court partially sided with Ripple. However, the decision was not entirely in the industry’s favor because Ripple was found to have broken the securities laws when it offered XRP to hedge funds and other institutional buyers.
