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XRP Lawsuit: John Deaton Demystifies Key Facts On Wednesday, the SEC decided to appeal the ruling in the case, adding a new layer of complexity to the saga. However, John E. Deaton, renowned XRP holder’s lawyer has stated that this move could potentially backfire and have unintended consequences for the SEC’s regulatory efforts. advertisement Deaton highlighted in a recent tweet that the SEC’s recent motion is only a pre-motion letter submitted to Judge Analisa Torres, seeking permission to file a more detailed motion on the Court’s ruling. The objective of this process seems to be requesting permission to make an early appeal to the higher court (2nd Circuit Court of Appeals) before the underlying case is fully resolved.  Everyone needs to understand what this is and isn’t! This is ONLY A PRE-MOTION LETTER. It’s asking the judge permission to file a formal motion asking for her to allow the SEC to then ask the 2nd Ci...

XRP’s Regulatory Status Under Spotlight Uphold, an industry player known for its discerning approach, notably refrained from delisting or suspending trading of XRP , underlining its perspective on XRP ’s classification as a non-security. The live discussion aims to shed light on the nuances of this determination, inviting participants to gain insights into Uphold’s proactive stance. advertisement This comes after, Judge Analisa Torres of the U.S. District Court for the Southern District of New York gave an important lesson from her decision was that XRP does not automatically satisfy the Howey conditions of an investment contract since it is a digital token, indicating that the court does not consider XRP to be a security unless it is sold to institutional investors. Judge Jed S. Rakoff issued an important decision on July 31, 2023, in the relatively related matter of SEC v. Terraform Labs that went against Judge Torres’ strategy in the ...

advertisement XRP Comes Out As Winner Ethereum’s utility numbers by the end of July were reminiscent of those in May when its price dominance against Bitcoin was more significant. This could be an indicator of Ethereum’s robust network utility playing a part in its market resilience. Santiment report also revealed that in contrast, Ripple’s XRP emerged as one of the biggest winners of the month, posting a 42% return. The positive performance was largely attributed to the landmark ruling in the SEC lawsuit, which established that XRP is not a security. This unexpected verdict sparked significant buying activity, elevating XRP even as other crypto assets witnessed declining market caps. Other digital assets that saw gains in July included Stellar, Maker, and XinFin. On the negative side, Santiment’s statistics showed a worrisomely low amount of whale transactions, implying that important stakeholders are not interested in purchasing the...

XRP made notable strides in the crypto market, leading to substantial gains. Within the last 24 hours, open interest on futures contracts linked to XRP exceeded $1.1 billion. This achievement marked another milestone, surpassing the $1 billion mark set the previous week and establishing a new record high for the year. Open interest is the number of unsettled futures contracts. This has experienced a 21% increase since earlier this week. Among these positions, the largest share of about $459 million is held on the crypto exchange Binance. Bybit was next in line at $304 million and Bitget followed suit with $263 million. Source A higher open interest indicates a surge in investments or bets on various assets. This signifies the influx of new funds into the financial market. Typically, this suggested an expectation for the current trend to persist. In parallel, the price of XRP experienced an astonishing surge of 67.42% in the past few days. At press time, the altcoin was trad...

2022 proved to be a challenging period for the crypto industry. The entire market suffered under the reigns of the bear. Despite the market’s credible recovery this year, the bears had remained dominant in the market. However, the series of events that have transpired over the last couple of months, and especially this week, has got many believing that the bear market might be coming to an end. Here are reasons why bears have exited the crypto market XRP’s Win For a considerable period, Ripple diligently engaged in a legal dispute with the Securities and Exchange Commission [SEC]. The regulatory classification of XRP as a cryptocurrency was questioned and efforts were made to categorize it as a security. However, a significant shift occurred when Judge Analisa Torres ruled that XRP does not qualify as a security. This victory weakens the SEC’s ability to label all tokens as securities. This is because they were unable to succeed with the one that appeared most...

The Standard Proposal – Potential Implications The Evernode Standard Proposal dubbed `EVS-01d` is the first of its kind and was proposed by independent XRPL and HotPocket developer Wo Jake. The essential idea behind the proposal is to introduce a Node Party Line (NPL) Brokerage system to HotPocket instances. advertisement #Evernode: I've published the first Evernode Standard proposal, `EVS-01d`, which introduces an NPL Brokerage system to HotPocket instances. 😊 This standard may likely act as a foundational building block on the Evernode ecosystem, so take a look! pic.twitter.com/SucE1ebB9Q — Wo Jake 🪝 (@woj4ke) July 6, 2023 Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best Crypto Exchange Affiliate Programs...