Results For: ripple
Ripple Opposes SEC’s $2B Fine Request, Argues for $10M Penalty
Ripple has filed its opposition to the Securities and Exchange Commission’s (SEC) Motion for Remedies and Entry of Final Judgment in the ongoing legal battle over the sale of XRP tokens. The move comes after the SEC proposed that Ripple should pay nearly $2 billion in fines for selling XRP to institutional investors. However, Ripple …...
Ripple Unveils Plans to Launch USD-Pegged Stablecoin on XRP Ledger
Ripple, the enterprise-focused blockchain service, has announced its intention to introduce a new stablecoin pegged to the U.S. dollar later this year. The stablecoin will initially be deployed on the XRP Ledger and the Ethereum blockchain. Key points: Ripple anticipates a clear demand for stablecoins that offer trust, stability, and utility as the stablecoin market …...
SEC Reportedly to Seek $2 Billion in Fines from Ripple, Says CEO
The U.S. Securities and Exchange Commission (SEC) will reportedly seek $2 billion in fines and penalties from Ripple Labs, according to Stuart Alderoty, the company’s chief legal officer. In a tweet on X, Alderoty stated that Ripple will respond to the SEC’s proposal next month. Alderoty also accused the regulator of making false and misleading …...
Ripple Expands US Presence With Purchase of NY Crypto Trust Firm
Ripple has struck a deal to purchase New York trust company Standard Custody & Trust. Through the acquisition, the payment platform secured a limited purpose trust charter to expand the regulatory services it can offer clients in the US. The acquisition represents Ripple’s latest move to expand its capabilities domestically, despite legal clashes with the …...
Ripple Gearing Up for US Market Entry Despite SEC Lawsuit
Blockchain payments company Ripple has hinted at an upcoming push into the US market that could dramatically expand adoption of its transaction solutions. The announcements come even as a legal battle with securities regulators continues to play out. Key developments stoking anticipation of Ripple’s US expansion: Read more: Solana Restarts After 5 Hours Of Outage, …...
SEC Wins Financial Data Access Against Ripple in Ongoing XRP Lawsuit
The Securities and Exchange Commission has bagged a win against Ripple Labs this week, gaining access to confidential corporate information as both sides prepare for the remedies phase of their landmark cryptocurrency case. Key lawsuit updates: According to court documents, Judge Sarah Netburn sided with the SEC in requesting various disclosures from Ripple. The requested …...
Binance Freezes $4.2M of Ripple Hack Proceeds, Aids Investigation
Cryptocurrency exchange Binance has helped secure over $4.2 million worth of XRP tied to the recent hack of Ripple co-founder Chris Larsen’s personal crypto accounts. The exchange also stated they are supporting law enforcement’s ongoing investigation. Highlights: On February 1st, word spread that Chris Larsen, a Ripple executive, had several private XRP wallets compromised, resulting …...
Ripple Co-Founder’s Personal XRP Accounts Hacked for Over $112 Million
Several personal XRP accounts belonging to Ripple co-founder Chris Larsen were hacked recently, resulting in the theft of around $112 million worth of the cryptocurrency. Key details on the Ripple hack: Read more: Vitalik Buterin Reflects On Evolution Of Crypto And His Changing Role Official Ripple account remains unaffected While Ripple’s official account was not …...
Ripple Plans $285M Equity Repurchase, Valued at $11 Billion
According to Reuters, blockchain payments provider Ripple announced intentions this week to repurchase $285 million worth of employee and investor equity. The company decided to make a move as it looks like the lawsuit filed by U.S. regulators is starting to calm down after many years of uncertainty. Key Details: The tender offer arrives on …...
Gensler’s Crypto Comments Draw Backlash from Ripple CEO
Securities and Exchange Commission (SEC) Chairman Gary Gensler sparked controversy this week over his video about the crypto industry. Gensler claimed in the video that widespread noncompliance in the crypto realm is undermining market integrity and confidence. The SEC chair’s comment provoked backlash from leading crypto figures, who accused Gensler of hypocrisy and failing to …...
