Ripple XRP Ledger Co-Creator Stops The Selling Spree, Bullish Trend Nearby?
Since December 2020, Ripple hasn’t rested from negative anticipations of a crash. Instead, the crypto that seemed promising from inception started plummeting when the United States Securities and Exchange Commission (SEC) sued it. The accusation was that the company raised more than $1.3 billion illegitimately. As a result, SEC held the co-founder Christian Larsen and Bradley Garlinghouse, the CEO, accountable for the illegal gains. The court case has already lasted for more than one year. But, surprisingly, on April 14, Ripple CEO Brad Garlinghouse stated that the fight had gone....
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The SEC’s lawsuit against Ripple may be bearish for a few altcoins but could be bullish for Bitcoin. The current crypto bull run has been spearheaded by Bitcoin (BTC). As the United States Securities and Exchange Commission has previously hinted that Bitcoin is not a security, the regulator’s current lawsuit against Ripple is unlikely to stop the institutional inflow of money into Bitcoin. However, a few altcoins that may be at risk of facing a similar fate as Ripple could face selling pressure. Due to a change in sentiment, retail investors may sell some of their altcoin holdings and....
Ripple Labs Inc. is selling 4 million of its shares in Moneygram, or about a third of its total shareholding in the company. The decision seems in part to be motivated by the surging Moneygram share price and Ripple’s desire to cash out after buying the shares at a premium of $4.10 in 2019. At close on Nov. 27, shares of Moneygram were down 4.8% at $7.42 on the Nasdaq Stock Exchange. However, the stock has soared 260% year-to-date, rising from $2.06 on Jan. 2. Ripple will earn nearly $30 million if it sold its 4 million Moneygram shares at current market prices – an almost 50%....
Moneygram has announced that it has suspended using Ripple’s platform due to the lawsuit against Ripple Labs and its executives by the U.S. Securities and Exchange Commission (SEC). Last year, the company earned $50.2 million from Ripple for using the platform. Moneygram Stops Using Ripple’s Platform Moneygram International announced Monday that it has suspended trading on Ripple’s platform. The announcement came as part of the company’s earnings report for the fourth quarter and full year 2020. For the year 2020, Moneygram recorded total revenue of $1,217 million;....
A Ripple executive said the company believes that tokenization can transform the creator economy and create new business models. In September 2021, enterprise blockchain and crypto solutions company Ripple launched the Ripple Creator Fund, a $250 million initiative committed to providing creators with the financial, creative and technical support needed to create nonfungible tokens (NFTs) and other tokenization projects on the XRP Ledger.On Oct. 18, Ripple disclosed the second wave of creators to receive funding for their NFT projects through Ripple’s Creator Fund. This round of funding....
XRP has always been subject to claims of centralization by Ripple. The payment company, however, has always rejected this claim, citing the open-source and decentralized nature of the XRP Ledger. Recent court documents have provided clarity on the confusion to clear doubts about XRP’s centralization. Who Owns The XRP Ledger? A federal judge in the […]