Tag: Ripple

Ripple acquires Swiss blockchain custody firm Metaco for $250M

On May 17, Ripple, creator of the namesake payments network and XRP token, announced it had acquired Swiss digital asset custodian and tokenization provider Metaco for $250 million. With the acquisition, Ripple says it will expand its enterprise offering to custody, issue, and settle tokenized assets. The firm’s developers wrote:  “Metaco will dramatically accelerate its growth trajectory through access to Ripple’s established base of hundreds of customers, capital to address new demand, and resources to continue delivering on its commitment to banking and institutional clients.” Ripple estimates the institutional crypto custody…

Court victory for Ripple as judge denies SEC motion to seal Hinman docs

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A motion from the United States securities regulator to seal the controversial Hinman documents has been denied — a move that has been seen as a win for the Ripple and crypto community. Judge Analisa Torres for the U.S. District Court ruled that the documents are “judicial documents” subject to a strong presumption of public access.  Excerpt from Judge Torres’ ruling. Source: USDC “The Hinman Speech Documents “would reasonably have the tendency to influence [the Court’s] ruling on a motion,” she added.  Judge Torres also said the court is rejecting…

SEC Can’t Seal Docs Tied to Hinman’s Ether Speech, Judge in Ripple Suit Rules

“As Judge Netburn found in her order dated January 13, 2022, the Hinman Speech Documents are not protected by the deliberative process privilege because they do not relate to an agency position, decision, or policy,” Torres wrote. “Therefore, sealing these documents would not be related to preserving ‘openness and candor’ within the agency, nor would such an interest be substantial enough to outweigh the strong presumption of public access.” Source

Ripple Gains Recognition As Blockchain Leader by Dubai Government Media

The Dubai government’s official media has praised the blockchain company Ripple as a leader. The recent spotlighting is coming shortly after the firm launches its new business office in the country. Dubai Government’s Media Office Spotlights Ripple The official media Twitter page of the Dubai government spotlighted the blockchain company behind the crypto asset XRP. The tweet recognized the firm as a prominent player and a master in enterprise blockchain and crypto solutions. The government’s media office praised while responding to the expansion move into the country. It further highlighted…

Ripple CEO Says Company Spends $200 Million Fighting SEC Lawsuit Over XRP, Ruling Could Come in 3 Months – Regulation Bitcoin News

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Ripple CEO Brad Garlinghouse has revealed that his company is spending $200 million defending itself against the SEC in its lawsuit over xrp. The executive expects a decision on the lawsuit in three to six months. “If we win the lawsuit, it’ll be clear what xrp is, but the rest of the industry is still going to be unclear. And the whole crypto industry needs regulatory clarity in the U.S. to really thrive,” said the Ripple boss. Ripple’s CEO Shares New Info on SEC Lawsuit Over XRP The CEO of…

Ripple to expand to Dubai, Says CEO Brad Garlinghouse

Ripple is opening an office in the heart of Dubai International Financial Centre (DIFC) and acquiring Swell Global 2023. Ripple, one of the most popular cryptocurrency firms, has announced its expansion in other countries. The company is all set to expand to Dubai, according to Chief Executive Officer Brad Garlinghouse. Garlinghouse also disclosed the development at the Dubai Fintech Summit that is happening today and talked passionately about the customer base in the Middle East. According to him, the regulatory operations have made the country a good choice for setting…

Ripple CEO Brad Garlinghouse Reveals Legal Cost of Fighting SEC at Dubai Fintech Summit

Garlinghouse expects the Judge to issue a summary ruling on the SEC vs Ripple case before the end of this year. The SEC vs Ripple Labs lawsuit is slated to be one of the largest legal fights for blockchain and cryptocurrency development in the United States for the next decades. Already, hundreds of projects on Ethereum using the ERC-20 standard, and other Layer One blockchains that undertook initial coin offerings (ICO) in the United States are eagerly waiting for the final ruling by Manhattan District Judge Analisa Torres. From the…

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…