Few have heard of Ronald Wayne, who was the third founder of Apple along with Jobs and Wozniak, and owned 10% of the company.
In 1976, Ronald Wayne sold his share in Apple for $800 due to financial problems. Today, with a market capitalization of $3.47 trillion, it would be worth $347 billion.
Bitcoin and Ethereum are experiencing significant drops, with Bitcoin hitting its lowest point since February. Similarly, Ethereum has fallen quite a bit.
As someone deeply rooted in blockchain, I've seen these scenarios play out before. Recent transactions involving wallets linked to Mt. Gox and a sizable movement of $75 million in Bitcoin by the German government have undoubtedly rattled investors. Additionally, macroeconomic conditions and the looming uncertainty of U.S. elections are contributing to the current bearish sentiment.
🎓Will the markets keep falling? That's not the right question. Keeping yourself informed and adaptable is key; staying panicked and trying to predict the future is not a good idea. Seasoned crypto enthusiasts understand these cycles as natural fluctuations in the market's rhythm, reminding us of its inherent volatility and resilience.
The market is red. BTC dropped to $53,500 (currently trading around $54,300), ETH $2,800. In the last 24 hours, positions worth about $680 million have been liquidated. Around 235,000 traders have faced liquidations.
→Santiment — the crypto market is experiencing a historic level of fear
→Fear and Greed Index: 29 (fear) 👀
💸Now is a good chance to buy cryptocurrency at a discount if you haven't done so yet.
▶️Here's a guide on how to do it in 6 minutes: https://youtu.be/YSaGovqDppc
Since June 19, the governments of Germany, the USA, and Mt. Gox have transferred a total of 17,788 BTC (~ $1.08 billion).
In particular, Germany has been gradually transferring bitcoins every day since July 1.
👀 Currently: The German government has – 41,226 BTC (~ $2.28 billion) The USA government has – 213,297 BTC (~ $11.72 billion) Mt. Gox has – 141,687 BTC (~ $7.78 billion)
The reason for the shake-up is clear, but panic always prevails in such moments. ✊
Ripple Vs SEC: Judge Amy Berman Jackson Upholds Ripple XRP Ruling in Binance Vs. SEC Case
The post Ripple vs SEC: Judge Amy Berman Jackson Upholds Ripple XRP Ruling in Binance vs. SEC Case appeared first on Coinpedia Fintech News
In a win for crypto, Judge Amy Berman Jackson has upheld Judge Torres’ landmark decision regarding Ripple’s XRP. A moment everyone was waiting for. The recent ruling in the Binance vs. SEC lawsuit supports Judge Torres’ doctrine that XRP itself is not a security and that programmatic and secondary sales of XRP do not meet the criteria for investment contracts under the Howey Test.
In a positive change, District Judge Amy Berman Jackson praised Judge Torres’ decision from the Ripple case, specifically regarding the non-securities status of XRP’s programmatic and secondary sales. This agreement is a major victory for Ripple and the broader crypto sector.
Impact on Ongoing Cases
Judge Jackson’s decision sets a precedent for high-profile U.S. crypto litigation including Coinbase, Kraken, and Consensys. The verdict supports the claim that secondary sales of cryptocurrencies like Binance’s BNB are not securities, which could affect these cases.
The Judge also agrees with the Second Circuit Court’s ruling that crypto asset secondary transactions are not securities. This precedent helps crypto businesses fight SEC regulation.
Legal Insight
Pro-XRP lawyer Bill Morgan has praised the ruling as a positive development for XRP holders and the crypto community. The decision also clarifies that the SEC’s potential appeal against Judge Torres’ summary judgment could lead to further escalation to the Second Circuit Court.
Morgan explains that in the SEC vs. Binance case, Judge Amy Berman Jackson rejected the SEC’s argument that a crypto token itself is always an investment contract. She found the Ripple and Telegram cases’ views on this issue to be “clarifying and persuasive.” He emphasizes that Judge Torres’ decision on XRP not being a security is now seen as a legal example in court.
Eleanor Terrett says that Coinbase, Kraken, and ConsenSys will use the recent Binance ruling to strengthen their legal cases, and the SEC can no longer claim that the Ripple ruling was an isolated decision.
XRP Price Snapshot
XRP has risen since Judge Jackson’s judgment. XRP gained more than 1% from a 24-hour low of $0.470 to $0.475 and aims to recapture $0.50. However, the trading volume dropped 3% yesterday, with derivatives traders buying heavily. Coinglass shows XRP futures open interest rose 0.62% due to large buying on OKX and BitMEX.
It’s Not Over Yet…
Although Ripple has scored legal victories, the SEC might still win on whether XRP is a security. The SEC could appeal if the ruling favors Ripple, and a new administration or SEC Chair might shift the regulatory stance on XRP. Moreover, after receiving the latest briefs, lawyers like Fred Rispoli expect Judge Torres to rule on remedies and injunctions within 60–90 days. This timeline may avoid expert witness rulings.
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