Tag: Ripple

Defending against SEC to cost Ripple $200M, CEO Brad Garlinghouse says

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Ripple has spent $200 million defending the case brought against it by the United States Securities Exchange Commission (SEC), according to CEO Brad Garlinghouse.  Garlinghouse dropped the figure during a fireside chat at the Dubai Fintech Summit on May 8. He stated that the U.S. is stuck compared with the regulatory progress of the United Arab Emirates virtual asset regulatory authority and the recent Markets in Crypto-Assets (MICA) bill in the European Union. He went on to share that by the time the case is decided, Ripple will have spent…

Ripple sells $336m in XRP tokens during Q1

According to the latest XRP Markets Report, Ripple, a blockchain company developing global payment products, sold over $361 million of XRP tokens in Q1.  $361 million is a significant increase from the previous quarter, which saw sales of $226.31 million.  These numbers were made available in Ripple’s regular XRP Markets Report release, which occurs every quarter to provide transparency and updates on the company’s perspective regarding the state of the cryptocurrency markets.  The report covers Ripple’s quarterly XRP sales, XRP Ledger updates, and relevant XRP-related news, along with commentary on…

Ripple Wants to Help 3.7B People through Multiple Partnerships in Over 80 Countries

Ripple explained its current effort is to achieve carbon net zero by or before 2030. Payment protocol Ripple has announced multiple partnerships targeted at helping billions of people. The company plans to support 3.7 billion people globally who are either unbanked or underbanked. According to Ripple, the collaborations include innovative fintech, non-governmental organizations (NGOs), universities, foundations, and social entrepreneurs. Some are the World Economic Forum, Energy Web, XRP Ledger Foundation, Watershed, Rippleworks, Care International, Institute for Business & Social Impact, Bill & Melinda Gates Foundation, etc. The payment protocol added that…

Ripple Sees Growth Potential in Europe’s Progressive Cryptocurrency Regulation

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Ripple (XRP), a blockchain-based payments platform, has expressed excitement about its continued growth in the European Union (EU) due to the bloc’s progressive approach to cryptocurrency regulation. This contrasts with the United States, where the focus remains on enforcement instead of clarity. According to a Twitter post by Susan Friedman, who is a policymaker in the house of Ripple, the EU has taken a big leap forward in providing a sensible and progressive regulatory framework for the crypto industry, and Ripple intends to take advantage of this positive environment to…

Ripple launches liquidity hub for businesses to bridge the crypto liquidity gap

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Fintech firm Ripple has launched its liquidity solution for businesses to bridge the gap between crypto and fiat. Ripple liquidity hub was launched on April 13 after a successful pilot last year. The service operates as a stand-alone solution in addition to Ripple’s popular cross-border payments service called on-demand liquidity (ODL). This makes it a global liquidity network offering its partners access to payout rails worldwide. The liquidity hub has been developed from an enterprise point of view to offer digital assets from various market makers, including crypto exchanges and over-the-counter…

Despite Using Euro, Montenegro to Develop Own Digital Currency With Ripple – Finance Bitcoin News

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Montenegro intends to create and issue its own digital currency with help from U.S.-based crypto company Ripple. The Southeast European nation, which adopted the euro unilaterally, is moving to realize the plan despite the eurozone developing a digital version of the common currency. Monetary Authority of Montenegro to Cooperate With Ripple on ‘National Stablecoin’ Project The Central Bank of Montenegro (CBCG) has signed an agreement with blockchain solutions provider Ripple under which the two sides will collaborate to produce a strategy and pilot program to launch the country’s central bank…

SEC argues recent court case weakens Ripple Labs’ ‘fair notice’ defense

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A recent court judgment further weakens a key defense made by technology firm Ripple Labs in its ongoing legal battle with the United States Securities and Exchange Commission (SEC), the regulator has claimed to a federal judge. In an April 11 letter to U.S. District Judge Analisa Torres, who is overseeing the SEC and Ripple Labs case, the SEC highlighted the judge’s opinion in a separate enforcement action it won against investment advisory firm Commonwealth Equity Services. In that case, it was deemed that a longstanding court precedent provides sufficient…

XRP price rally stalls as SEC vs. Ripple ruling drags on — 25% drop ahead?

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XRP (XRP) rose 2.1% to $0.52 on April 11, extending its daily gains from $0.50 alongside a broader cryptocurrency market rally as traders pinned hopes on easing inflation data into April 12. XRP price: lackluster volumes raise risk of 25% correction XRP’s upside move brought it closer to breaking out of its prevailing bull pennant range with a price target of $0.65. XRP/USD daily candle price chart. Source: Tradingview However, lackluster volumes accompanying XRP’s gains hinted at a potential price correction in the future. That could mean a short-term pullback toward…

Ripple to Work with Central Bank of Montenegro to Launch Its CBDC Project

Ripple said that the CBDC project will involve several stages such as identifying the practical application of the CBDC, simulating its circulation, as well as its use under controlled conditions. In an interesting development on Tuesday, April 11, blockchain startup Ripple joined hands with the Central Bank of Montenegro (CBCG) to build a pilot program for the launch of the country’s central bank digital currency (CBDC). So far, Montenegro has been using the Euro as its currency ever since its introduction in 2022. As part of their partnership, Ripple will…