For a while, it seemed like Ripple may not even survive. The firm was flush enough (thank you programmatic sales, bay-bee), but no one knew what would result from what is still, arguably, the most significant regulatory action taken against a crypto company to date. Firms like Telegram and EOS were sued, they settled and were given “slaps on the wrist” (relative to amount of money involved). Source
The latest price moves in bitcoin (BTC) and crypto markets in context for Oct. 20, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Original
The regulator had included them as defendants in securities violation case, and the agency now says it’s just pursuing Ripple for damages. Source
Further, in a novel interpretation that has ruffled some feathers, the SEC said thus far the “major questions” doctrine has only applied to strike down “novel regulatory forays,” and most significantly, novel regulatory forays into areas of major “economic and political significance.” Coinbase, the SEC said, “does not have the vast economic or political significance.” Source
The Ripple Initial Public Offering (IPO) rumors continue to wax stronger as many expect that the event will push the XRP price upward. Back then, it was mostly just rumors and speculation, but the XRP community has gotten their hands on a Ripple job listing that suggests there might be some truth to the IPO rumors. Ripple Is Looking For A Shareholder Communications Manager In a listing that was shared by multiple influencers in the XRP community, Ripple looks to be on the hunt for a Shareholder Communications Senior Manager.…
Central bank digital currencies have nearly limitless opportunity but ultimately, mainstream adoption hinges upon usability, Ripple Vice President James Wallis writes. Source
Fintech payments company Ripple released a new job posting on Oct. 16 for a shareholder communications senior manager across multiple locations in and outside the United States. The job posting prompted many crypto enthusiasts to label it as an official hint about the company’s plans to go public. The job posting outlines that the role will require direct communication with shareholders — a concept generally associated with publicly traded companies. The chosen candidate would be responsible for developing and implementing communication and relationship management strategies for “existing and prospective investors, current…
Financial giants including BlackRock and Fidelity are looking to launch a bitcoin investment vehicle for people who do or cannot hold bitcoin directly. Original
Ripple chief technology officer David Schwartz has countered the Cardano founder’s comments about possible motives behind the United States regulators’ determination that Ether (ETH) is not a security. Cardano founder Charles Hoskinson addressed the much-debated ETHgate theory in an AMA session on Oct. 8, arguing that the government’s actions were not about corruption. ETHgate is a conspiracy theory alleging that Ethereum received a free pass from U.S. regulators, particularly the U.S. Securities and Exchange Commission (SEC), which has been reiterating its stance that ETH isn’t a security for years. Despite…
Ripple usually returns a substantial part of its unlocked XRP tokens following every monthly release of 1 billion tokens from its escrow system. Justifying this move, pro-XRP legal expert Bill Morgan explained why Ripple does this rather than leaving these tokens in circulation. Why Ripple Returns Some XRP Tokens To Escrow In a tweet shared on his X (formerly Twitter) platform, Morgan suggested that Ripple’s decision not to sell most of the XRP released each month is one of the steps the firm takes to “support XRP’s price.” Morgan is…