Tag: Ripple

Ripple Stirs Debate By Shuffling $260 Million In XRP: Why?

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Ripple Labs has once again become the focus of much scrutiny and debate within the XRP community. Recent data points to a series of high-volume XRP transactions totaling 506 million tokens, valued at approximately $260 million, carried out over the span of 19 days. What makes these transactions especially noteworthy is not just their sheer volume but also the repetitive nature and targeted destinations. Ripple Transaction Breakdown Between the end of August and mid-September, a total of 15 significant XRP transactions were initiated by two Ripple-controlled addresses. These transfers were…

Ripple CTO Explains Companyโ€™s Stance On Debunking Outrageous XRP Price Predictions

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Over the last few months, there have been a number of XRP price predictions that have taken the crypto market by surprise. While some of these have looked to be attainable, others have carried price ranges that seem impossible for the current vantage point. A s a result of community members questioning what Ripple can do about these predictions, Ripple CTO David Schwartz has come forward to explain why the company is not debunking the predictions. Ripple CTO Says Itโ€™s Hard An X (formerly Twitter) user drew the attention of…

Ripple Explains Why It Fast-Tracked Fortress Trust Acquisition

A multimillion-dollar security incident involving a Fortress third-party vendor took place in the hours leading to the takeover by Ripple. Ripple has shared the reason behind its accelerated acquisition of Fortress Trust which took place on September 8. According to the financial technology company, the deal was already on the table, albeit without any urgency to it. However, a multimillion-dollar security incident involving a Fortress third-party vendor took place in the hours leading to the takeover by Ripple. That was what necessitated the need to speed up things as it…

This Latest Move Suggests SEC Lawsuit Against Ripple Is Pushing The Crypto Firm Outside The US

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Ripple may be in the process of leaving the United States market for good as the prominent crypto firm has stated that it will be acquiring the majority of its employee candidates from countries outside the US.ย  Ripple Will Recruit A Workforce Overseas US-based cryptocurrency solutions provider, Ripple has enacted plans to conduct its hiring processes outside US borders. The cryptocurrency firm has stated that over 80% of its workforce will be recruited from countries outside the US that encourage crypto adoption and innovation. The decision to hire the majority…

Ripple says security incident accelerated its acquisition of Fortress Trust

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The takeover of Fortress Trust by financial technology company Ripple on Sept. 8 involved more than just an acquisition deal. The transaction was accelerated by a security incident hours earlier involving a Fortress third-party analytics vendor, Ripple confirmed to Cointelegraph.ย  According to a representative from Ripple, discussions between the companies intensified last week after cloud tools of a third-party analytics vendor were compromised. In an interview with Fortune, Fortress CEO Scott Purcell said the company lost $12 million to $15 million in the incident. A majority of the funds were…

Ripple CEO Brad Garlinghouse Says 80% of the Staff He Will be Hiring Will Be Outside of the US

โ€œYou see markets like we have here in Singapore, certainly even what we’re seeing in Hong Kong, the U.K., Dubai, where the governments are partnering with the industry, and you’re seeing leadership, providing clear rules and you’re seeing growth, Garlinghouse said. “And frankly, that’s why ripple is hiring there, 80% of our hiring this year will be outside the United States.โ€ Source

Ripple Says Ongoing SEC Lawsuit Presents Global Expansion Opportunities

Top voices in the crypto industry have continued to criticize the US government and its approach toward regulation. American crypto firm Ripple has said that its ongoing lawsuit with the US Securities and Exchange Commission (SEC) may be a blessing in disguise. The firmโ€™s president, Monica Long revealed this in a recent tell-it-all interview with CNBC. Recall that the SEC first came after Ripple in 2020, accusing the firm of violating federal securities laws. At the time, the regulator said Ripple sold $1.3 billion of its native cryptocurrency XRP, even…

Ripple CEO calls US one of the worst regions for crypto startups

Ripple CEO Brad Garlinghouse says that the United States is one of the worst regions for crypto companies as his company has been struggling with the countryโ€™s SEC. Garlinghouse discouraged crypto startups and investors from launching in the US at a Token 2049 panel in Singapore.ย  Brad Garlinghouse, the CEO of Ripple, calls the ๐Ÿ‡บ๐Ÿ‡ธU.S. the worst nation for startups to launch. Garlinghouse says the U.S. should consider implementing #crypto policies from Singapore, the ๐Ÿ‡ฌ๐Ÿ‡งU.K., the ๐Ÿ‡ฆ๐Ÿ‡ชUAE and ๐Ÿ‡จ๐Ÿ‡ญSwitzerland. โ€” DeFi UnCut (@DefiUncut) September 13, 2023 Moreover, he added that…

US โ€˜the only countryโ€™s crypto startups should avoid, says Ripple CEO

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The United States is one of โ€” if not the worst โ€” place to launch a cryptocurrency startup in the world right now, according to Ripple CEO Brad Garlinghouse, whose firm is in a legal battle with the U.S. securities regulator. โ€œThe only country I would not encourage you to start a company right now is in the U.S.,โ€ Garlinghouse said on a Sept. 12 panel at Token 2049 in Singapore. The Ripple boss wants the U.S. to take note from the likes of Singapore, the United Kingdom, the United…

Ripple is staring down an opportunity to fix its closed system

In July, a United States judge ruled that Ripple Labsโ€™ XRP (XRP) token was not a security when sold to the public on secondary markets. While the Securities and Exchange Commission will contest the decision, the broader cryptocurrency community has embraced it, as crypto trades on exchanges might sidestep the securities transaction label. Despite the ruling, the crypto market continues to suffer from broader uncertainty. Ripple has long been entrenched in this battle, but this legal victory might serve as a partial emancipation, allowing the company to relight its former…