The XRP price has come under strong selling pressure amid the news of alleged hack. Ripple co-founder has confirmed investigation with law enforcement agencies.
As the court hearing progresses, the fate of Coinbase remains uncertain. If Judge Failla denies Coinbase’s motion for dismissal, the case will proceed to discovery.
Ripple first hinted at the possibility of going public in 2022. At the time, Garlinghouse said the company would make the move after it concluded its ongoing court battle with the SEC.
Garlinghouse noted that at some point, the SEC will need to appoint a new chief to serve the American people better.
Paolo Ardoino explained that the attacker anticipated Bitfinex’s system would be improperly configured to process partial payments.
The legal battle between the SEC and Ripple stems from the SEC’s allegation that Ripple engaged in unregistered securities sales, specifically through institutional sales of XRP.
The $11.3 billion valuation tender offer by Ripple permits investors to sell up to 6% of their stake, with $500 million allocated for the buyback, covering stock unit conversions and tax obligations.
A Reddit user has reported that Google is unwilling to take down a video advertisement that appears to be an attempted scam targeting cryptocurrency users.
XRP has shown little or no action of late but its luck may just be about to change, according to popular crypto analyst JD.
Although Bitcoin has outperformed XRP in 2023, there is the chance that XRP could follow in Bitcoin’s footsteps for a December bull run.
Industry watchers see the development advancing not only Ripple’s XRP token but also benefiting the wider crypto sector by adopting trusted financial industry models for security and cooperation.
The anticipation surrounding a possible settlement revolves around the expectation that once a deal is inked, it will take away the gloom that still clouds Ripple Labs’ operations and finally set the firm and XRP on a path to truly thrive.
Metaco CEO Adrien Treccani agrees that adopting Ripple and Metaco’s solutions increases the chances of adopting XRPL as a protocol.
Despite the legal victories of Ripple, the court recently issued an order concerning the remedies phase of the lawsuit.
The deceptive video, featuring a voice closely resembling Garlinghouse’s, falsely presents an XRP giveaway, asking them to transfer a minimum of 1000 XRP.