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#ripple vs. #SEC Lawsuit Over? Is Settlement Expected on April 16th?
Crypto enthusiast Ashley Prosper initiated a comprehensive discussion on Twitter, delving into the ongoing legal clash between Ripple Labs & the Securities and Exchange Commission (SEC).
She underscored a pivotal opinion from the 2nd Circuit Court, asserting that the SEC cannot mandate disgorgement without evidence of financial losses to investors. This stance directly impacts the SEC's case against Ripple, where no clear investor harm has been demonstrated.
Prosper highlighted an unexpected settlement conference following the SEC's failure to substantiate investor losses in their remedies & judgment brief. This conference, lasting longer than anticipated, occurred without Ripple responding to the SEC's brief beforehand.
In her roundup, Prosper outlined various SEC actions impacting the wider crypto sphere, including Ethereum investigations and a Wells notice sent to #UniSwap .
She also noted significant Ripple developments, such as their #stablecoin plans announcement and the unscheduled release of escrow funds, alongside legislative advancements in stablecoin regulation.
Separately, crypto expert Mr. Huber expressed concern that despite seemingly positive news, XRP experienced a 70% decline against other #cryptocurrencies . He cautioned that a settlement during a bullish market might negatively affect retail investors, suggesting that not all "good news" is advantageous.
Recently, Ripple's Chief Legal Officer Stuart Alderoty referenced the SEC's setback in the Aron Govil case, where the 2nd Circuit dismissed the SEC's appeal. Alderoty interpreted this decision as affirming that disgorgement claims without financial loss lack validity—a promising sign for Ripple.
Echoing this sentiment, lawyer Bill Morgan highlighted the potential benefits for Ripple if institutional investors are found not to have suffered financial harm in the Govil case. However, Morgan emphasized the uncertainty of the outcome pending further responses from Ripple to the SEC's allegations.
Source - coinpedia.org
Crypto enthusiast Ashley Prosper initiated a comprehensive discussion on Twitter, delving into the ongoing legal clash between Ripple Labs & the Securities and Exchange Commission (SEC).
She underscored a pivotal opinion from the 2nd Circuit Court, asserting that the SEC cannot mandate disgorgement without evidence of financial losses to investors. This stance directly impacts the SEC's case against Ripple, where no clear investor harm has been demonstrated.
Prosper highlighted an unexpected settlement conference following the SEC's failure to substantiate investor losses in their remedies & judgment brief. This conference, lasting longer than anticipated, occurred without Ripple responding to the SEC's brief beforehand.
In her roundup, Prosper outlined various SEC actions impacting the wider crypto sphere, including Ethereum investigations and a Wells notice sent to #UniSwap .
She also noted significant Ripple developments, such as their #stablecoin plans announcement and the unscheduled release of escrow funds, alongside legislative advancements in stablecoin regulation.
Separately, crypto expert Mr. Huber expressed concern that despite seemingly positive news, XRP experienced a 70% decline against other #cryptocurrencies . He cautioned that a settlement during a bullish market might negatively affect retail investors, suggesting that not all "good news" is advantageous.
Recently, Ripple's Chief Legal Officer Stuart Alderoty referenced the SEC's setback in the Aron Govil case, where the 2nd Circuit dismissed the SEC's appeal. Alderoty interpreted this decision as affirming that disgorgement claims without financial loss lack validity—a promising sign for Ripple.
Echoing this sentiment, lawyer Bill Morgan highlighted the potential benefits for Ripple if institutional investors are found not to have suffered financial harm in the Govil case. However, Morgan emphasized the uncertainty of the outcome pending further responses from Ripple to the SEC's allegations.
Source - coinpedia.org
#bitcoinhalving
Victory For Do Kwon? Montenegro’s Latest Ruling Reverses Extradition To South Korea
Montenegro finds itself in a legal tug-of-war between the United States and South Korea over the extradition of crypto entrepreneur #DoKwon . Initially, a Montenegrin appeals court rejected extradition to the US but favored #SouthKorea . However, Montenegro’s Supreme Court overturned these decisions, reigniting US efforts to prosecute Kwon for fraud related to the collapse of TerraUSD #stablecoin . Meanwhile, recent developments in the US saw Kwon and his company, Terraform Labs, found liable for defrauding investors. Terraform Labs plans to challenge the verdict, citing lack of evidence and disputing SEC's authority in the matter. Kwon's extradition fate now rests with Montenegro's justice minister. Terraform Labs' Luna token, now named Luna Classic ($LUNC ), is trading at $0.0001378, facing a downward trend with marginal fluctuations.
#BinanceLaunchpool
Victory For Do Kwon? Montenegro’s Latest Ruling Reverses Extradition To South Korea
Montenegro finds itself in a legal tug-of-war between the United States and South Korea over the extradition of crypto entrepreneur #DoKwon . Initially, a Montenegrin appeals court rejected extradition to the US but favored #SouthKorea . However, Montenegro’s Supreme Court overturned these decisions, reigniting US efforts to prosecute Kwon for fraud related to the collapse of TerraUSD #stablecoin . Meanwhile, recent developments in the US saw Kwon and his company, Terraform Labs, found liable for defrauding investors. Terraform Labs plans to challenge the verdict, citing lack of evidence and disputing SEC's authority in the matter. Kwon's extradition fate now rests with Montenegro's justice minister. Terraform Labs' Luna token, now named Luna Classic ($LUNC ), is trading at $0.0001378, facing a downward trend with marginal fluctuations.
#BinanceLaunchpool
🔥🔥🔥 #Dogecoin Founder’s New $DOGE , $BTC , $ETH Tweet Stirs #CryptoCommunity
Billy Markus, the creator of Dogecoin, took to social media platform X (formerly Twitter) to offer his perspective on the recent downturn in both crypto and stock markets.
Sharing a screenshot of his investment portfolio, Markus, known as "Shibetoshi Nakamoto" on X, commented on the market turmoil, sparking a flurry of responses from his followers.
In the screenshot, Markus's assets, including S&P 500, Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE), are seen experiencing significant declines. Bitcoin, for instance, dropped by 5.88%, while Ethereum fell by $135, and Dogecoin dipped to $0.190. This decline mirrors the broader trend seen in the S&P 500 index, indicating a renewed correlation between #cryptocurrency assets and traditional markets.
Markus's tweet accompanying the screenshot reflects a mix of surprise, frustration, and a hint of anger at the prevailing market conditions.
In response to the market downturn, many of Markus's followers attributed the decline to ongoing inflationary pressures. Some expressed skepticism about major cryptocurrencies and advocated for lesser-known coins with lower market capitalization.
Earlier, Markus made headlines by suggesting that Bitcoin should be transformed into a #stablecoin pegged at $69,420, citing its meme value as the primary reason for choosing that particular number.
As the crypto community eagerly awaits the next halving event, which is just nine days away, Bitcoin continues to experience fluctuations in its price.
Source - u.today
#BinanceSquareTalks
Billy Markus, the creator of Dogecoin, took to social media platform X (formerly Twitter) to offer his perspective on the recent downturn in both crypto and stock markets.
Sharing a screenshot of his investment portfolio, Markus, known as "Shibetoshi Nakamoto" on X, commented on the market turmoil, sparking a flurry of responses from his followers.
In the screenshot, Markus's assets, including S&P 500, Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE), are seen experiencing significant declines. Bitcoin, for instance, dropped by 5.88%, while Ethereum fell by $135, and Dogecoin dipped to $0.190. This decline mirrors the broader trend seen in the S&P 500 index, indicating a renewed correlation between #cryptocurrency assets and traditional markets.
Markus's tweet accompanying the screenshot reflects a mix of surprise, frustration, and a hint of anger at the prevailing market conditions.
In response to the market downturn, many of Markus's followers attributed the decline to ongoing inflationary pressures. Some expressed skepticism about major cryptocurrencies and advocated for lesser-known coins with lower market capitalization.
Earlier, Markus made headlines by suggesting that Bitcoin should be transformed into a #stablecoin pegged at $69,420, citing its meme value as the primary reason for choosing that particular number.
As the crypto community eagerly awaits the next halving event, which is just nine days away, Bitcoin continues to experience fluctuations in its price.
Source - u.today
#BinanceSquareTalks
Why was Do Kwon found guilty?
Terraform Labs and Do Kwon were found guilty of misleading #investors about the UST #stablecoin and falsely claiming Chai's use of their technology. The SEC highlighted the significant investor losses due to Terra's deception and urged crypto firms to prioritize compliance. Gurbir Grewal emphasized the need for investor protection and adherence to laws.
The SEC's enforcement director stated that Terraform Labs and #kwon deceived investors about the stability of Terra USD, resulting in substantial losses. Terraform Labs expressed disappointment with the verdict and questioned the SEC's legal authority to bring the case, considering their options. The jury's decision establishes civil liability for #DoKwon , who also faces separate criminal charges in the US and South Korea.
#Nonfarm
Terraform Labs and Do Kwon were found guilty of misleading #investors about the UST #stablecoin and falsely claiming Chai's use of their technology. The SEC highlighted the significant investor losses due to Terra's deception and urged crypto firms to prioritize compliance. Gurbir Grewal emphasized the need for investor protection and adherence to laws.
The SEC's enforcement director stated that Terraform Labs and #kwon deceived investors about the stability of Terra USD, resulting in substantial losses. Terraform Labs expressed disappointment with the verdict and questioned the SEC's legal authority to bring the case, considering their options. The jury's decision establishes civil liability for #DoKwon , who also faces separate criminal charges in the US and South Korea.
#Nonfarm
Ripple Announces Launch of USD-Pegged Stablecoin to Enter the $150 Billion Market
Ripple, a prominent player in the digital currency space, is set to make a significant entry into the stablecoin market with the launch of a new stablecoin pegged to the U.S. dollar. This move places Ripple in direct competition with industry giants like Tether and Circle in a market valued at approximately $150 billion.
Stability and Transparency at the Core
The newly announced stablecoin aims to maintain a one-to-one value with the U.S. dollar through a diversified reserve of U.S. dollar assets. These assets include deposits, government bonds, and cash equivalents, all of which will be held by Ripple as reserves to back the stablecoin's value.
In a commitment to transparency, Ripple has announced plans to release monthly attestation reports regarding its reserves. However, the company has yet to disclose the auditing firm that will be responsible for these reports.
Global Expansion Plans
Initially, Ripple's stablecoin will be available in the United States, with plans to broaden its reach to other regions. The company is considering the introduction of localized stablecoin versions for the European and Asian markets, signaling a global ambition for its digital currency.
Ripple's Response to Market Stability Concerns
The decision to launch a stablecoin comes amid stability concerns surrounding existing market leaders, Tether's USDT and Circle's USDC. Ripple CEO Brad Garlinghouse, in an interview with CNBC, highlighted the stability issues that have affected USDT and USDC, particularly in the wake of significant cryptocurrency market events.
Notably, USDT saw its value drop below the $1 mark following the collapse of terraUSD in 2022. A similar fate befell USDC in 2023 after the failure of Silicon Valley Bank, affecting its stability.
Regulatory Compliance as a Differentiator
Ripple aims to set itself apart in the stablecoin market through its emphasis on regulatory compliance and licensure. The company boasts regulatory approvals in multiple jurisdictions, including New York, Ireland, and Singapore. Garlinghouse emphasized the importance of Ripple's regulated status, especially in light of the regulatory uncertainties faced by current stablecoin market leaders.
Conclusion
Ripple's foray into the stablecoin market represents a strategic move to leverage its regulatory compliance and commitment to transparency and stability. By addressing the concerns that have plagued other stablecoins, Ripple positions itself as a strong contender in the evolving digital currency landscape. The company's plans for global expansion and the introduction of localized stablecoins further underscore its ambitious vision for the future of digital payments.
$XRP
#Ripple #stablecoin
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Stability and Transparency at the Core
The newly announced stablecoin aims to maintain a one-to-one value with the U.S. dollar through a diversified reserve of U.S. dollar assets. These assets include deposits, government bonds, and cash equivalents, all of which will be held by Ripple as reserves to back the stablecoin's value.
In a commitment to transparency, Ripple has announced plans to release monthly attestation reports regarding its reserves. However, the company has yet to disclose the auditing firm that will be responsible for these reports.
Global Expansion Plans
Initially, Ripple's stablecoin will be available in the United States, with plans to broaden its reach to other regions. The company is considering the introduction of localized stablecoin versions for the European and Asian markets, signaling a global ambition for its digital currency.
Ripple's Response to Market Stability Concerns
The decision to launch a stablecoin comes amid stability concerns surrounding existing market leaders, Tether's USDT and Circle's USDC. Ripple CEO Brad Garlinghouse, in an interview with CNBC, highlighted the stability issues that have affected USDT and USDC, particularly in the wake of significant cryptocurrency market events.
Notably, USDT saw its value drop below the $1 mark following the collapse of terraUSD in 2022. A similar fate befell USDC in 2023 after the failure of Silicon Valley Bank, affecting its stability.
Regulatory Compliance as a Differentiator
Ripple aims to set itself apart in the stablecoin market through its emphasis on regulatory compliance and licensure. The company boasts regulatory approvals in multiple jurisdictions, including New York, Ireland, and Singapore. Garlinghouse emphasized the importance of Ripple's regulated status, especially in light of the regulatory uncertainties faced by current stablecoin market leaders.
Conclusion
Ripple's foray into the stablecoin market represents a strategic move to leverage its regulatory compliance and commitment to transparency and stability. By addressing the concerns that have plagued other stablecoins, Ripple positions itself as a strong contender in the evolving digital currency landscape. The company's plans for global expansion and the introduction of localized stablecoins further underscore its ambitious vision for the future of digital payments.
$XRP
#Ripple #stablecoin
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Intriguing developments in the crypto sphere! 🚀
Ripple's venture into stablecoins, backed by the USD, marks a significant move in the industry. With a projected market exceeding USD 2 trillion by 2028, the competition with USDC and USDT is poised to redefine crypto dynamics.
Let's watch as this innovation unfolds. 💥
DYOR and like for more! 👍
#Ripple #stablecoin #innovation #crypto2024
$XRP $USDC
Ripple's venture into stablecoins, backed by the USD, marks a significant move in the industry. With a projected market exceeding USD 2 trillion by 2028, the competition with USDC and USDT is poised to redefine crypto dynamics.
Let's watch as this innovation unfolds. 💥
DYOR and like for more! 👍
#Ripple #stablecoin #innovation #crypto2024
$XRP $USDC
JUST IN: Ripple ( $XRP ) is stepping into the stablecoin arena, aiming to launch a USD-backed coin.
@Ripple’s chief technology officer, @JoelKatz, shared exclusive insights on this move.
#Ripple #XRP/USDT🔥🔥: #stablecoin #HotTrends #XRP/BTC
@Ripple’s chief technology officer, @JoelKatz, shared exclusive insights on this move.
#Ripple #XRP/USDT🔥🔥: #stablecoin #HotTrends #XRP/BTC
🔥🔥🔥 #tether achieves #soc 2 security compliance, sets annual audit goal
Tether, the provider of the #USDT #stablecoin , has successfully completed the SOC2 audit, showcasing its robust measures to safeguard customer data.
The SOC2 Audit Type 1 evaluates a company's capability to manage customer data across five key trust service principles: security, availability, processing integrity, confidentiality, and privacy.
Through this audit, Tether has demonstrated its ability to maintain a secure network, promptly address issues, ensure accurate and timely data processing, restrict access to authorized personnel, and responsibly handle personal information.
The completion of the SOC2 Type 1 Audit underscores Tether's commitment to stringent security measures and regulatory compliance.
Despite recent regulatory scrutiny, including OKX's delisting of USDT trading pairs in the EU and criticism from Coinbase and Circle executives, Tether has been steadfast in its compliance efforts. Last month, the network blocked $1.4 million USDT associated with tech scams in the United States.
Achieving SOC2 compliance affirms Tether's effective IT controls for safeguarding systems and data, with a commitment to undergo this audit annually.
Source - crypto.news
#BinanceSquareTalks
Tether, the provider of the #USDT #stablecoin , has successfully completed the SOC2 audit, showcasing its robust measures to safeguard customer data.
The SOC2 Audit Type 1 evaluates a company's capability to manage customer data across five key trust service principles: security, availability, processing integrity, confidentiality, and privacy.
Through this audit, Tether has demonstrated its ability to maintain a secure network, promptly address issues, ensure accurate and timely data processing, restrict access to authorized personnel, and responsibly handle personal information.
The completion of the SOC2 Type 1 Audit underscores Tether's commitment to stringent security measures and regulatory compliance.
Despite recent regulatory scrutiny, including OKX's delisting of USDT trading pairs in the EU and criticism from Coinbase and Circle executives, Tether has been steadfast in its compliance efforts. Last month, the network blocked $1.4 million USDT associated with tech scams in the United States.
Achieving SOC2 compliance affirms Tether's effective IT controls for safeguarding systems and data, with a commitment to undergo this audit annually.
Source - crypto.news
#BinanceSquareTalks
BUSD(Binance USD)is #stablecoin pegged to US $ & issued by Binance
10 benefits of BUSD
Stability
Fast Transactions
Low transaction fees
Access to global markets
Easy to use
Widely accepted
Security
Transparency
Regulatory compliance
Hedge against market volatility
#BinanceFeed
10 benefits of BUSD
Stability
Fast Transactions
Low transaction fees
Access to global markets
Easy to use
Widely accepted
Security
Transparency
Regulatory compliance
Hedge against market volatility
#BinanceFeed
Real World Assets (RWA) have been proposed to the #Aave community by the decentralized lending protocol #Centrifuge who intends to use them as security for the native #stablecoin GHO. An official proposal will be made as soon as the GHO coordinator is prepared.
#crypto2023
#crypto2023
JUST IN: 🇦🇺 National Australia Bank launches #stablecoin fully backed by Australian dollars.
#crypto2023
#crypto2023
So...
Exchange and #stablecoin FUD everywhere, media are calling #crypto dead, people are losing hope and lots of them sold everything and quit.
Social activity at 0, people argue in public.
Yes, this is the real #bearmarket . The bottom is close, or is it in already?🙏🏻
Exchange and #stablecoin FUD everywhere, media are calling #crypto dead, people are losing hope and lots of them sold everything and quit.
Social activity at 0, people argue in public.
Yes, this is the real #bearmarket . The bottom is close, or is it in already?🙏🏻
The New York Department of #FinancialFuture Services is ordering Paxos to stop issuing #Binance BUSD- the 3rd largest #stablecoin . #BNB #BUSD
After much anticipation from the #Cardano community, the network developers have finally launched the ecosystem’s overcollateralized #stablecoin called ‘#Djed .’
The stablecoin launch comes after its successful security audit and development testing for over a year
#crypto2023
The stablecoin launch comes after its successful security audit and development testing for over a year
#crypto2023
▪️Stablecoins are not going away and we will see magnificent changes in crypto industry.
#crypto #crypto2023 #Stablecoins #stablecoin
#crypto #crypto2023 #Stablecoins #stablecoin
El salvador’s Volcano Energy has recently announced its $1 billion in commitments to construct a brand new 241-megawatt (MW) #bitcoin mine. Specifically, the new mine will be located in the Metapan region. As a #stablecoin issuer, #Tether has been listed among the investors, according to Coindesk.
The new facility is set to be powered by 169 MW of solar #energy, with wind energy powering another 72 MW. Additionally, the press release noted that the energy will bring more than 1.3 exahash/second (EH/s) of computing #power.
The new facility is set to be powered by 169 MW of solar #energy, with wind energy powering another 72 MW. Additionally, the press release noted that the energy will bring more than 1.3 exahash/second (EH/s) of computing #power.
Fed Chairman Jerome Powell Claims That Two Further Interest Rate Increases This Year Are Appropriate
In his statement at the semi-annual monetary policy hearing of the US House Financial Services Committee, Federal Reserve Chair Jerome Powell said that two further rate increases this year would be reasonable.
Powell said that policymakers anticipate higher interest rates to restrain price pressures and slow US growth. After the FED agreed to stop raising interest rates this month, Powell made the announcement.
Additionally, the Federal Reserve has opted to keep interest rates in the 5% to 5.25% level they are currently at. The Federal Reserve made this decision as the first reprieve in the series of interest rate increases it started in March 2022 to address the country's inflation rate.
In response to questions from legislators about the Fed's plans, Powell said that it could be prudent to keep raising rates in the near future. Powell explained how he understood inflation and how FED officials were aware of the difficulties brought on by excessive inflation. He said that they are steadfastly dedicated to getting inflation back down to the target of 2%.
Powell also discussed cryptocurrencies and stablecoins during his speech. He said that as an asset class, cryptocurrencies "seem to have staying power." Powell also said that stablecoins are viewed as a sort of currency.
#BTC #cryptocurrency #stablecoin
Powell said that policymakers anticipate higher interest rates to restrain price pressures and slow US growth. After the FED agreed to stop raising interest rates this month, Powell made the announcement.
Additionally, the Federal Reserve has opted to keep interest rates in the 5% to 5.25% level they are currently at. The Federal Reserve made this decision as the first reprieve in the series of interest rate increases it started in March 2022 to address the country's inflation rate.
In response to questions from legislators about the Fed's plans, Powell said that it could be prudent to keep raising rates in the near future. Powell explained how he understood inflation and how FED officials were aware of the difficulties brought on by excessive inflation. He said that they are steadfastly dedicated to getting inflation back down to the target of 2%.
Powell also discussed cryptocurrencies and stablecoins during his speech. He said that as an asset class, cryptocurrencies "seem to have staying power." Powell also said that stablecoins are viewed as a sort of currency.
#BTC #cryptocurrency #stablecoin
Luke announced on Twitter that the deployment script for Curve’s native #stablecoin crvUSD is now available on GitHub.
#crypto2023 #dyor
#crypto2023 #dyor
