Ripple ... ????
With the effect of the Spark token distribution, Ripple pushed the limits of $ 0.75 in a short time, after a long time, it broke its silence and made its investors happy. But this joy was short lived. This week it took a heavy blow. The US Securities and Exchange Commission (SEC) filed a ripple lawsuit.
Ripple started pre-sale in 2013 and then launched. Although XRP, which had a total supply of $ 40 billion, reached the limit of $ 4, it fell to $ 0.25 as the cryptocurrency markets entered a downward trend.
Tough times have begun for Ripple. The US Securities and Exchange Commission (SEC) filed a lawsuit in 2013 for $ 1.3 billion in unrecorded digital securities offerings.
It was stated that lawsuit founders Brad Garlinghouse and Christian Larsen did not report the sale of personal Ripple savings of around $ 600 million. It is also emphasized that XRP is also the subject of business and market creation activities.
Ripple CEO Brad Garlinghouse is very responsive. The famous name, stating that the law is acted from the beginning to the end and that it is constantly updated, thinks that there will be no result from the case.
Ripple CEO Brad Garlinghouse comments;
“I think we have to stand up for all of crypto—and not let the SEC bully the entire industry,” said Garlinghouse, adding, “We’re going to be on the right side of history.”
Coinbase is in talks about making Ripple crazy. He will decide this in a short time. Coinbase is expected to make a delist.
The effects of the US Securities and Exchange Commission (SEC) lawsuit against Ripple continue. Some cryptocurrency exchanges off the list yesterday for XRP from their platform.
Also, crypto asset manager Bitwise liquidated the XRP position of the crypto index fund. Today, Jump Trading and Galaxy Digital companies, which have a significant impact on the market, have announced that they have stopped making XRP.
Crypto asset manager Bitwise has liquidated the XRP position of the crypto index fund. XRP held a 3.8% share in Bitwise's crypto index fund before liquidation.
In light of the lawsuit allegations, several crypto exchanges, including OSL, CrossTower, and Beaxy, stopped trading XRP.
Result
If the court convicts Ripple, the firm and its founders will be fined. Ripple will go into an unrecorded currency state and risk being removed from exchanges. Exchanges that did not take risks during the court process started to stop Ripple transactions. It seems certain that the court process will take a long time. This court process should be followed soon. Because the decisions of this court may affect the crypto money market. Also, what about the important projects that Ripple supports? Flare Network, Flare Finance…
As I always said, listen to everyone, decide for yourself ...
Take care until you meet again ...
