Tag: 770M

Ripple faces slim odds of $770M disgorgement

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Attorney John Deaton, representing XRP holders, has made a persuasive case in the Ripple vs. SEC legal saga, suggesting that the anticipated $770 million disgorgement for Ripple is improbable. He grounds his prediction on various influential factors that could sway the court’s judgment. Deaton underscores the significance of the Supreme Court’s Morrison ruling, which effectively limits the SEC’s jurisdiction to sales within the United States. This gains relevance as Ripple’s XRP sales in the United Kingdom, Japan, Switzerland, and other areas face scrutiny. Additionally, the legal standing of XRP in…

Epic Battle Unfolds Over $770M Disgorgement Demand

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In a recent interview with CNBC, Brad Garlinghouse addressed the ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC) over the classification of XRP.  Garlinghouse highlighted three consecutive wins for Ripple in the legal proceedings, emphasizing that the first judgment on July 13 clearly stated that XRP is not a security. He also mentioned denying the court’s interlocutory appeal and dismissing allegations against Ripple co-founder Chris Larsen and himself. Ripple CEO Brad Garlinghouse Criticizes SEC’s Regulatory Approach In the interview, Garlinghouse criticized the SEC’s approach to…

Tesla to Spend Over $770M on Texas Plant Expansion for Battery Cells and Manufacturing

EV maker Tesla has applied with the state of Texas regarding the expansion of its Austin-based gigafactory to accommodate more operations.  Tesla (NASDAQ: TSLA) plans to spend more than $770 million on the expansion of its factory in Austin, Texas. January filings with the Texas Department of Licensing and Registration disclose the massive fund outlay. Per reports, Tesla plans to spend on constructing facilities geared towards testing battery cells and manufacturing. In addition, the prominent electric vehicle maker also intends to situate a drive unit manufacturing base, and a die…

BNB Chain Burns Over $770M Worth of BNB Tokens

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Polkadot unveils $770M development fund ahead of parachain auctions

Polkadot (DOT) founder Gavin Wood has unveiled a $777 million development fund ahead of the network’s parachain lease auctions. Wood tweeted on Oct. 17 that Polkadot’s treasury has allocated more than 18.9 million DOT (worth roughly $777 million at the time of writing) to a development fund that will be disbursed through community governance. Wood gave broad suggestions as to how the funds might be spent, stating the capital will be mobilized to realize the community’s vision for “building, improving, educating” Polkadot’s ecosystem, in addition to “anything else that the…