California Judge Tosses Class Action Claims Against Ripple but Greenlights One Individual Case To Move To Trial

June 22, 2024 The Daily Hodl

A California judge has dismissed a set of class-action claims against Ripple related to the sale of XRP, though she did send an individual case to trial. Bradley Sostack, a former XRP investor, launched a class-action lawsuit back in 2018, claiming Ripple illegally sold XRP as an unregistered security and violated advertising laws in California. District […]

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Crypto Fear & Greed Index Jumps Back into Greed Territory

Ripple Clarifies XRP Is Not a Security After New Court Ruling

June 21, 2024 Bitcoin.com

bitcoin.com

Ripple’s chief legal officer has clarified that a California district judge has dismissed all allegations that Ripple violated federal securities laws. He stressed that District Judge Analisa Torres’ ruling regarding the non-security status of XRP “stands undisturbed.” New York’s ‘Ruling That XRP Is Not a Security Stands Undisturbed’ Following the ruling by the U.S. District […]

Crypto Fear & Greed Index Jumps Back into Greed Territory

Crypto Biz: US dollar exposure via digital assets takes off

June 21, 2024 Coin Telegraph

bitcoin etf

This week’s Crypto Biz explores Hashdex filing for a combined spot Bitcoin and Ether ETF, Coinbase’s pre-launch market, Ripple’s challenges with regulators in the U.S., and more stablecoins delisting in Europe.

More crypto firms are seeking to capitalize on the demand for United States dollar-denominated digital assets. Tether, the company behind the Tether (USDT) stablecoin, recently announced its synthetic dollar backed by gold and pegged to the U.S. dollar.

The move comes just a few days after Assymetry released its synthetic dollar, afUSD, with an elastic supply based on market conditions.

New tokens mimicking the U.S. dollar have risen since the launch of Ethena’s synthetic dollar, USDe. The protocol, launched in February 2024, has amassed over $3.4 billion in total locked assets over four months, according to DefiLlama.

Crypto Fear & Greed Index Jumps Back into Greed Territory

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 […]

Crypto Fear & Greed Index Jumps Back into Greed Territory

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.

Crypto Fear & Greed Index Jumps Back into Greed Territory

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.

Crypto Fear & Greed Index Jumps Back into Greed Territory

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:

Crypto Fear & Greed Index Jumps Back into Greed Territory

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 […]

Crypto Fear & Greed Index Jumps Back into Greed Territory

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 […]

Crypto Fear & Greed Index Jumps Back into Greed Territory

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.

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