Tag: Ripple

Here’s The Total Number Of XRP That Ripple Currently Holds

Ripple Labs Inc., the company behind the XRP token, has released its Q2 XRP Markets report. As part of the report, the company shared its XRP holdings as of March 31, 2023, and June 30, 2023.  Ripple’s XRP Holdings Ripple revealed that its XRP holdings fall into two categories; wallet-held XRPs and ones in escrow lockups (Ripple releases one billion XRP monthly as part of its monthly token unlock). As of March 31, 2023 (representing the first quarter of the year), Ripple held  5,506,585,918 XRP and a further 42,800,000,013 XRP…

Ripple CEO slams SEC over use of XRP report in lawsuit

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Ripple CEO Brad Garlinhouse on August 2, expressed his disapproval of the United States Securities and Exchange Commission (SEC) for utilizing Ripple’s quarterly XRP Markets Report, designed to enhance transparency in the cryptocurrency industry, as evidence against the company in the ongoing lawsuit.  Garlinghouse stated that the company initiated the reports with the intention of voluntarily offering updates on their XRP holdings. However, the CEO said, these reports were later “used against” the company in the SEC lawsuit. Garlinghouse reiterated the company’s commitment to transparency but hinted that future reports…

Bank of England releases new paper on Ripple use cases

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Bank of England (BoE) has released a new paper that explores the use of Ripple’s Interledger Protocol for synchronized settlement of payments. The new step taken by the Bank of England shows the increasing interest of central banks in blockchain technology. The paper is titled “Ripple: Exploring the Synchronized Settlement of Payments using the Interledger Protocol.” The BOE believes that Ripple protocol could significantly impact the cross-border payments industry by allowing synchronized settlement across multiple…

Federal judge dismisses Ripple ruling in Terra case

New York federal judge granted permission to the SEC to proceed with its case against Terraform Labs Pte and its founder, Do Kwon. Judge Rakoff’s decision involved rejecting the differentiation drawn in the Ripple case regarding public and institutional sales being the determining factor if the asset would be labeled as a security. Ripple ruling challenged Following the July 13 Ripple ruling, which was celebrated as a triumph for the cryptocurrency sector, numerous digital assets experienced a surge in value of over 70%. However, US District Judge Jed Rakoff’s recent decision,…

Judge rejects motion to dismiss Terraform case, disagrees with Ripple decision

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A United States Securities and Exchange Commission (SEC) lawsuit against Terraform Labs is set to go ahead after a U.S. judge overseeing the case denied the firm’s motion to dismiss on July 31.  In handing down the order, the judge also rejected a decision from another judge who ruled that Ripple did not violate securities laws based on their manner of sale. The SEC first filed a suit against Terraform Labs and its founder Do Kwon on Feb 16, alleging it was once “orchestrating a multi-billion dollar crypto asset securities fraud.” In…

SEC Chair Gary Gensler Blasts Crypto Exchanges, Avoids Issue of Appeal in Landmark Ripple Ruling

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U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler is once again sounding the alarm on crypto exchanges, saying that the platforms are not working in the best interests of their users.  In a new Bloomberg interview, Gensler says that companies issuing crypto tokens are not being 100% honest with their investors.   The SEC chair zeroes in on crypto exchanges, saying that the centralized platforms are operating in an unacceptable manner by taking advantage of their users. “A lot of investors should be aware, it’s not only a highly speculative…

Ripple Report Foresees Blockchain Saving Financial Institutions $10 Billion By 2030

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Blockchain technology is continually reshaping the financial industry, offering promising transformations in transaction processing. Its potential is immense, as outlined in a recent report by digital payment network Ripple in collaboration with the United States Faster Payments Council (FPC). The report presents a robust case for blockchain’s role in expediting payment systems and the ensuing cost savings. But is the financial sector ready to embrace this emerging technology on a large scale? Financial Institutions To Embrace Faster Payment Systems With Blockchain The survey, which received inputs from 300 finance professionals…

Blockchain will save financial institutions $10B by 2030: Ripple

Blockchain has the potential to save financial institutions approximately $10 billion in cross-border payment costs by the year 2030, according to a recent report. Published by digital payment network Ripple, in collaboration with the US Faster Payments Council (FPC) on July 29, the report surveyed 300 payment leaders across the world, from various sectors, such as fintech, banking, and retail, across 45 different countries. Results show that global payments leaders are dissatisfied with legacy rails for cross-border payments. Learn why 97% believe #blockchain and #crypto will transform the way money…