Ripple Inc. Tells Court SEC Did Not Warn Market Actors about XRP’s Security Status

2021-2-23 20:05

In the Ripple-SEC pretrial held on Monday, Matthew Solomon of Cleary Gottlieb advocates, defending CEO of Ripple, Brad Garlinghouse, against a lawsuit with the U.S Securities Exchange Commission (SEC), stated the plaintiff did not warn any major market actors, including exchanges that XRP constituted a security in talks held in 2019 and previous talks.

Having confirmed both parties are not planning for any settlements soon, the SEC vs. Ripple case swiftly moved to pretrial where the defendants’ lawyers made some discoveries to the court. According to Solomon, the SEC, despite dealing with ‘ultra-sophisticated market actors including exchanges’ as late as 2019, did not tell them that XRP is a security.

This provides a strong foundation for the defendants, Brad and former CEO Chris Larsen, who has been accused of selling close to $600 million worth of XRP. SEC’s charge on the case is diminishing by the day, and they won’t be able to prove XRP is a security, Solomon further said,

“And, again, as this case moves forward, these facts will come to light, and it will be clear that SEC cannot establish and will not establish that XRP is a security.”

Brad’s and Larsen’s legal team also moved a motion to dismiss the case claiming their clients had no idea that XRP was a security or investment contract. In a joint letter with the SEC last week, Solomon and Paul Weiss’s Martin Flumenbaum, representing Larsen, confirmed they had filed a motion to dismiss the case against their clients.

XRP/USD XRPUSD 0.4641 -$0.11 -23.10% Volume 14.66 b Change -$0.11 Open$0.4641 Circulating 45.4 b Market Cap 21.07 b baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=XRP&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~XRP~USD"); The post Ripple Inc. Tells Court SEC Did Not Warn Market Actors about XRP’s Security Status first appeared on BitcoinExchangeGuide.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

SherLOCK Security (LOCK) íà Currencies.ru

$ 0.1387 (+1.71%)
Îáúåì 24H $13
Èçìåíåèÿ 24h: 10.06 %, 7d: -33.06 %
Cåãîäíÿ L: $0.1387 - H: $0.1387
Êàïèòàëèçàöèÿ $0 Rank 3458
Äîñòóïíî / Âñåãî 0 LOCK / 4.969m LOCK

security xrp ripple actors crypto sec market

Èñòî÷íèê: bitcoinexchangeguide.com

security xrp → Ðåçóëüòàòîâ: 126


XRP is not a security, claims Ripple’s Brad Garlinghouse

Financial regulators have been highly involved with cryptocurrencies, further defying the latter’s nature of being decentralized assets. While these regulators have been in the news a lot lately owing to Facebook’s Libra, agencies such as the SEC have also garnered a lot of attention owing to its ruling on whether certain cryptos constitute a security […] The post XRP is not a security, claims Ripple’s Brad Garlinghouse appeared first on AMBCrypto.

2019-10-30 09:30


XRP and Cross-Border Payments – Which 19 Companies Are Involved with Ripple?

Ripple’s popularity has largely been for its instantaneous cross-border payments, which has earned it accolades from traditional financial institutions and even in the media. Even though there has been controversy over whether Ripple’s XRP token should be considered a security, Ripple has been focusing on the onboarding of new companies with their payment processing benefits. […]

2019-3-10 17:16


Ripple Earns Coinbase Listing, At Last. Does it Prove XRP is Not a Security?

For years, supporters of the Ripple blockchain network and its native cryptocurrency XRP have anticipated the listing of the asset on Coinbase, the largest digital asset exchange in the U. S. Many investors have believed that the integration of XRP by Coinbase could be considered as a confirmation of regulatory clearance on the nature of the digital asset as a nonsecurity.

2019-2-26 16:20


Ôîòî:

Ripple Upgrades XRP Ledger Version to 1.2.0 With New Features and Improved Security

Ripple remains focused on evolving as a company with a better product every day and does not let statements from competitors such as SWIFT and JP Morgan distract them from their goal. In an announcement posted on its official website on 13 February 2019, Ripple, the company behind the popular XRP token and other blockchain-based […] The post Ripple Upgrades XRP Ledger Version to 1.

2019-2-16 03:04


Newly launched Bitcoin/XRP/Ethereum/Litecoin/Bitcoin Cash-trading exchange already has serious security vulnerabilities

DX.Exchange, a crypto-based asset trading platform has lately been making positive noise in the news cycle due to its January 7th launch. The exchange has been marketed as the platform that will bridge the gap between cryptocurrencies and real-world stocks, as investors can purchase tokenized versions of Apple, Facebook and Apple stocks, as well as […] The post Newly launched Bitcoin/XRP/Ethereum/Litecoin/Bitcoin Cash-trading exchange already has serious security vulnerabilities appeared first on CaptainAltcoin.

2019-1-11 08:21


The Ripple Effect Debate Around XRP Being Considered a Security or Not Continues with the SEC

Ripple is a very popular and recognized company in the cryptocurrency industry. It has been in the market for several years and it has expanded all over the world. The XRP virtual currency has also reached the second position in the market surpassing Ethereum (ETH) and showed to be very resilient compared to others. However, […]

2018-12-18 07:15


Crypto winter is here: Believers snatching cheap BTC, XRP shivers at the mention of the word security, ETH is pestered by TRX and BCH and LTC are still bewildered to be alive

It gets dark earlier and it slowly gets colder. Crypto winter is here! What are the current prices of crypto currencies? The Bitcoin price is still declining Bitcoin: The dive continues. At the time of writing, the value of Bitcoin fluctuates around the $3400 mark.

2018-12-8 23:33


“Ripple attorneys will have their hands full explaining the statements of Ripple executives,” claims Larry Cermak

“Ripple attorneys will have their hands full explaining the statements of Ripple executives,” claims Larry Cermak Larry Cermak, economy/law analyst and author at theblockcrypto. com, launched an interesting Twitter thread today regarding Ripple, XRP, and the currency’s status as a security.

2018-12-7 02:15


äàëüøå åùå 77 íîâîñòåé →

Ïàðòíåðû Currencies.ru

Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

Ripple and CEO Brad Garlinghouse’s Top 5 Crypto Wins of 2022

It's been a challenging year for many in crypto, but for Ripple Labs and chief executive Brad Garlinghouse, 2022 has brought a number of successes. The post Ripple and CEO Brad Garlinghouse’s Top 5 Crypto Wins of 2022 appeared first on BeInCrypto.

Ripple Active Addresses Skyrocket by 190%, How Will XRP Price React?

XRP price reversed the minor gains charted on Monday, falling by 0.12% as the week began, but some key on-chain signals pointed towards volatility building in the XRP market.  The post Ripple Active Addresses Skyrocket by 190%, How Will XRP Price React? appeared first on BeInCrypto.