Ripple Wins Partial Summary Judgment in Securities Lawsuit

June 21, 2024 Bitcoin.com

bitcoin.com

The U.S. District Court for the Northern District of California has issued an order granting in part and denying in part the motion for summary judgment in a lawsuit concerning allegations of securities law violations against Ripple Labs, XRP II, and Ripple CEO Brad Garlinghouse. Court Ruling on Ripple’s Securities Lawsuit The U.S. District Court […]

New Altcoin Season Now in Sight, According to Crypto Strategist – Here’s Why

Ripple faces securities suit in California over CEO’s ‘misleading statement’

June 21, 2024 Coin Telegraph

Brad Garlinghouse

Judge Phyllis Hamilton found XRP could be a security when sold to retail and gave the go-ahead to a lawsuit over statements from Ripple CEO Brad Garlinghouse.

A United States federal court judge has greenlit a civil securities lawsuit against Ripple Labs, denying its summary judgment bid in a suit alleging its CEO broke California securities laws.

California District Court Judge Phyllis Hamilton’s June 20 order means a jury will decide if Ripple boss Brad Garlinghouse made “misleading statements” in a 2017 interview, the order has thrown out four allegations around Ripple’s “failure to register XRP as a security.”

In the 2017 interview on Canada’s BNN Bloomberg, Garlinghouse said he was “very, very long” on XRP (XRP) — but the suit alleges that was false as he “sold millions of XRP” throughout that year.

New Altcoin Season Now in Sight, According to Crypto Strategist – Here’s Why

Price analysis 6/19: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, SHIB, AVAX

June 19, 2024 Coin Telegraph

Avalanche

Bitcoin is struggling to bounce off $64,500, increasing the possibility of a deeper correction to $60,000.

Bitcoin (BTC) has been trading inside a large range between $56,552 and $73,777 for several days. It is difficult to predict the direction of the breakout with certainty, because trading inside the range can be random and volatile. Hence, it is better to wait for the price to break out before establishing large bets.

Traders are becoming cautious in the short term due to the uncertainty. According to Farside Investors data, Bitcoin exchange-traded funds have witnessed outflows for the past four days. Additionally, CoinShares’ “Weekly Asset Fund Flows” report showed outflows of $600 million from digital asset investment products, the largest since March 22.

However, Cointelegraph’s analysis of Deribit derivatives data shows that Bitcoin whales and market makers are not panicking and “remained optimistic during the dip.” Several analysts have also maintained a bullish view during Bitcoin’s drop below $65,000.

New Altcoin Season Now in Sight, According to Crypto Strategist – Here’s Why

XRP price could break out as open interest increases

June 19, 2024 Coin Telegraph

Coin Telegraph

Despite a potential breakout, XRP’s price remains tied to developments regarding the lawsuit between the SEC and Ripple.

Investors are increasingly betting on the XRP token’s price breakout. Could XRP be poised to see more upside momentum?

More traders are betting on XRP (XRP) price to rise, as reflected by the jump in open interest (OI), according to market analysis by verified CryptoQuant author Woominkyu.

He wrote in a June 18 research report:

New Altcoin Season Now in Sight, According to Crypto Strategist – Here’s Why

Ripple Working With 10 Governments Globally, CEO Reveals in Rediscovered Interview

June 19, 2024 Bitcoin.com

bitcoin.com

In a resurfaced video clip, Ripple CEO Brad Garlinghouse stated that his crypto firm is collaborating with around 10 governments globally on central bank digital currencies (CBDCs). “A central bank digital currency is a stablecoin. It’s just issued by the government,” the executive described. Ripple CEO on Working With Governments Worldwide A video clip surfaced […]

New Altcoin Season Now in Sight, According to Crypto Strategist – Here’s Why

Ripple CEO: Pro-Crypto Stance Will Win Votes in Upcoming Elections

June 18, 2024 Bitcoin.com

Bitcoin

Ripple CEO Brad Garlinghouse expressed his view on the political landscape in the U.S. regarding cryptocurrency regulation on social media platform X on Monday. “You’ll hear this a lot more in the next few months in the U.S. — candidates will only gain votes for being pro-crypto, and absolutely lose them for being anti-crypto. There’s […]

New Altcoin Season Now in Sight, According to Crypto Strategist – Here’s Why

SEC Rejects Ripple’s $10,000,000 Settlement Proposal, Says the Figure Would Not Satisfy Civil Penalty Statutes

June 18, 2024 The Daily Hodl

SEC Rejects Ripple’s ,000,000 Settlement Proposal, Says the Figure Would Not Satisfy Civil Penalty Statutes

Daily Hodl

The U.S. Securities and Exchange Commission (SEC) has clapped back against Ripple’s latest bid to reduce the severity of its fines. In a legal filing last week, the San Francisco payments company pointed to the SEC’s recent $4.47 billion settlement with Terraform Labs as a demonstration of the “unreasonableness” of the civil penalty brought by […]

The post SEC Rejects Ripple’s $10,000,000 Settlement Proposal, Says the Figure Would Not Satisfy Civil Penalty Statutes appeared first on The Daily Hodl.

New Altcoin Season Now in Sight, According to Crypto Strategist – Here’s Why

‘No clear catalyst’ for bloodbath as top altcoins fall double digits

June 18, 2024 Coin Telegraph

10xResearch

Crypto market analysts suggest the altcoin stumble may be tied to a recent spate of spot Bitcoin ETF outflows.

Crypto markets tumbled into a sea of red on Monday as some altcoins bled more than 10%, with an industry analyst telling Cointelegraph that there’s “no clear catalyst” to explain why.

The crypto market cap has fallen to $2.46 trillion, down 3.5% over the last 24 hours. Shiba Inu (SHIB) and Avalanche (AVAX) have been the hardest hit altcoins among the top 20 by market cap on June 17, falling 12.7% and 10.6% during the day, CoinGecko data shows.

Uniswap (UNI) and Dogecoin (DOGE) also saw a double-digit drop, while Solana’s (SOL) dipped 9.4%. Ripple’s XRP (XRP) was the only non-stablecoin not in the red, though it only saw a minor 0.1% increase.

New Altcoin Season Now in Sight, According to Crypto Strategist – Here’s Why

Terraform Labs to shut down after $4.5B SEC settlement: Law Decoded

June 17, 2024 Coin Telegraph

Terraform Labs to shut down after .5B SEC settlement: Law Decoded

Australia

Terraform Labs plans to sell key projects within the Terra ecosystem and give the community control of the Terra blockchain.

Terraform Labs has agreed to pay the United States Securities and Exchange Commission (SEC) roughly $4.47 billion as part of its settlement with the securities regulator. The duo settled after a jury found Terraform Labs and its co-founder liable for the Terra ecosystem collapse, which erased $40 billion in investor assets.

Chris Amani, CEO of Terraform Labs, has announced that the firm will cease operations following the settlement. The company plans to sell key projects within the Terra ecosystem and give the community control of the Terra blockchain.

In other news, lawyers for blockchain payments company Ripple have asked a court to consider an “appropriate” civil penalty in its case with the SEC following a settlement between the regulator and Terraform Labs. The SEC has requested that Ripple pay roughly $2 billion in disgorgement, prejudgement interest and civil penalties. Ripple has argued it should pay no more than a $10 million penalty.

New Altcoin Season Now in Sight, According to Crypto Strategist – Here’s Why

Price analysis 6/17: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADA

June 17, 2024 Coin Telegraph

ada

Bitcoin is facing intense selling pressure, but charts suggest strong support at $64,500 and again at $60,000.

The S&P 500 Index (SPX) has been trading near its all-time high, but Bitcoin (BTC) has gradually given up ground in the past few days. This suggests that supply exceeds demand in Bitcoin. According to Farside Investors data, spot Bitcoin exchange-traded funds have seen outflows for four of the five days since June 10.

However, analysts point out that long-term investors have not panicked and continue buying. Market intelligence firm Santiment shows that the number of wallets with 10 BTC or more has hit 16.6 million, the highest level since June 2022.

Although Bitcoin looks weak in the near term, it remains stuck inside a range and is likely to witness buying at the support. The longer the time spent in a range, the greater the force needed for the price to break out from it.

Ripple

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