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CoinQuest
CoinQuest
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XRP Price Analysis: Potential Surge to All-Time High Amid Legal Proceedings📈💼🤯 As the cryptocurrency market continues to captivate investors and enthusiasts alike, XRP, the digital asset associated with Ripple Labs, stands out with its potential for a significant price surge in 2024. According to available data, XRP could see a resurgence to its all-time high of $0.6405 later this year. On Tuesday, February 20, XRP exhibited promising signs as its price slightly rose to $0.5741. This uptick coincides with ongoing legal proceedings involving Ripple Labs and the U.S. Securities and Exchange Commission (SEC). The SEC v. Ripple case has been a focal point in the cryptocurrency industry, with implications extending beyond regulatory compliance. Following the conclusion of the discovery phase in the SEC v. Ripple case, attention now turns to the remedies phase, scheduled to commence imminently. The outcome of this legal battle remains uncertain, with potential ramifications for Ripple Labs and the wider cryptocurrency market. Newly uncovered facts in the SEC's actions could sway the final decision and influence XRP's future trajectory. As of the latest update, XRP's price stands at $0.5741, with a target of reaching $0.60 in the near term. The price surge aligns with the progression of the SEC v. Ripple case into the "remedies" phase. During this crucial stage, the court may issue declaratory decisions, award damages, or impose penalties. While the price of XRP continues its ascent, potential obstacles lie ahead. Near the $0.6073 mark, representing the 78.6% Fibonacci retracement level from its 2024 peak, XRP price may encounter resistance. Technical indicators such as the Awesome Oscillator (AO) and Moving Average Convergence Divergence (MACD) signal positive momentum. However, market volatility remains a factor to consider. In the event of a price correction, XRP may find support around $0.5248 before attempting to reclaim its position and target the $0.6405 threshold. 🚀🔍 $XRP #TrendingTopic #Write2Earn #AmanSaiCommUNITY

5 days ago
Crypto Daily™
Crypto Daily™
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The infamous founder of the bankrupt Terraform Labs will soon be extradited to the United States upon the order of a Montenegran high court.  From Montenegro to the US The High Court in Podgorica, after thorough consideration of legal and political ramifications, has ruled to extradite Do Kwon to the United States instead of South Korea. This decision comes following an Appeals Court directive seeking clarity on Kwon's extradition fate amidst the backdrop of his arrest in Montenegro back in June 2023. The ruling on Kwon's extradition follows a reversal of the initial decision by the Appeals Court of Montenegro, which arrived just two weeks prior. Despite Kwon's legal defense appealing the ruling, citing procedural irregularities and breaches of extradition standards, the decision ultimately favors extradition to the United States. Political Dimensions Of Extradition A directive from the Appeals Court swayed the High Court's verdict. This directive demanded a conclusive decision regarding Do Kwon's extradition destination, whether South Korea or the United States. While Kwon's defense advocated for extradition to South Korea, referencing legal precedents and international agreements, Montenegro's Justice Minister Andrej Milović hinted at the decision's political undercurrents. Emphasizing the United States' significance as Montenegro's primary foreign policy partner, the decision underscores the intent to bolster legal frameworks for future extraditions between the two nations. TerraUSD Collapse and Legal Troubles The collapse of TerraUSD stands as one of the significant debacles in the digital asset sector, witnessing a staggering loss of $40 billion in 2022. This collapse thrust the firm's executives into the spotlight of legal scrutiny.  Kwon and his associate Han Chang-joon attempted to flee the charges by using counterfeit Costa Rican passports, resulting in their arrest at a Montenegran airport last year.  Further investigation revealed additional legal complexities with the discovery of Belgian travel documents during a police search. Despite claiming ignorance of the forgeries and attributing trust to a Singapore-based agency, Kwon's legal entanglements escalated. Facing Charges in the US With extradition proceedings underway, Kwon now faces a series of legal challenges in the United States, where a court ruling has already postponed his trial until March 2024.  The charges against him include serious offenses like wire fraud, commodities fraud, securities fraud, and conspiracy charges related to fraud and market manipulation. He faces similar charges in South Korea, highlighting the gravity and international scope of the allegations against him. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

3 days ago
The Cryptonomist
The Cryptonomist
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In a saga that has captured the attention of the global financial community, Do Kwon, co-founder of the Terra-Luna crypto ecosystem, finds himself at the center of a legal storm as he faces extradition to the United States.  According to local media reports, the High Court of Podgorica, in Montenegro, has decided to extradite Kwon to the United States, rejecting the extradition request from South Korea.  The decision comes following accusations of fraud and financial misconduct related to losses suffered by US investors linked to an algorithmic stablecoin. The co-founder of the Terra-Luna crypto system is in a real legal storm  At the end of last year, a court in Podgorica had initially approved Kwon’s extradition. His journey through the legal system began when he was arrested in Montenegro in March 2023 for attempting to use a counterfeit passport to leave the country.  Initially, Kwon had agreed to be extradited to South Korea. However, subsequent developments have led to a change in his legal trajectory. In June, a court in Montenegro sentenced Kwon to four months in prison after finding him guilty of document forgery in relation to the use of a counterfeit passport.  Despite the appeal to the court’s decision, Kwon’s efforts were unsuccessful and he was ultimately sentenced to serve a prison term. The extradition decision marks a significant development in Kwon’s legal issues.  With civil charges from the Securities and Exchange Commission (SEC), Kwon and Terraform Labs are accused of raising billions from investors through the offering and sale of a interconnected series of cryptocurrency securities, many of which allegedly were conducted in unregistered transactions. The imminent extradition comes after the delays of the jury trial for fraud charges, originally scheduled for January 29 but then postponed to the end of March.  The legal representative of Do Kwon cited difficulties in facilitating his client’s release from Montenegro as the reason for the postponement of the trial. The charges against Kwon and Terraform Labs highlight the complexities and challenges surrounding the regulation of cryptocurrency markets and digital assets. As the popularity and adoption of cryptocurrencies continue to grow, regulatory authorities around the world are grappling with how to effectively supervise these rapidly evolving financial instruments. According to Kwon, the extradition to the United States represents a crucial moment in his legal battle, with potential far-reaching implications both for himself and for the cryptocurrency sector in general. The outcome of the trial and any subsequent legal proceedings could shape the regulatory landscape surrounding digital assets and influence investors’ confidence in the sector. The intensification of controls in the crypto world In recent years, governments and regulatory bodies have increased scrutiny on cryptocurrency projects and their founders, especially regarding issues such as fraud, market manipulation, and compliance with securities laws.  The case of Do Kwon highlights the importance of supervision and enforcement of regulations to safeguard investors and maintain the integrity of financial markets. According to Terraform Labs, the legal proceedings involving its co-founder have undoubtedly cast a shadow on the company’s operations and reputation.  Terraform Labs, one of the leading players in the cryptocurrency sector, has been at the forefront of innovation in blockchain technology and decentralized finance. However, the accusations against Kwon and the company have raised doubts about compliance practices and risk management procedures. The outcome of Kwon’s extradition and the subsequent trial will be closely followed by industry operators, legal experts, and regulatory authorities.  Beyond the immediate implications for Terraform Labs and its co-founder, the case could set legal precedents and influence regulatory approaches to cryptocurrencies in the years to come. As the cryptocurrency market continues to evolve and mature, stakeholders must work collaboratively to address regulatory challenges and promote responsible innovation.  Reaching a balance between promoting innovation and protecting investors will be crucial in shaping the future of digital finance and ensuring its long-term sustainability. Conclusions In the case of Do Kwon, the journey from Montenegro to the United States marks a crucial chapter in a legal saga that has captured the attention of the global financial community.  With the eyes of the world focused on him, Kwon’s extradition and trial represent much more than the fate of a single individual: they symbolize the broader challenges and opportunities that the thriving cryptocurrency sector must face in an increasingly interconnected and regulated world. In conclusion, the extradition to the United States of Do Kwon, co-founder of Terraform Labs, represents a significant step in a legal saga that has reverberated throughout the global cryptocurrency community.  Between allegations of fraud and misconduct, Kwon’s journey from Montenegro to the United States highlights the complexities and challenges inherent in regulating the rapidly evolving landscape of digital assets. While governments and regulatory bodies are grappling with the regulation of cryptocurrencies, Kwon’s case serves as a reminder of the importance of strong surveillance and enforcement mechanisms to protect investors and maintain market integrity.  The outcome of Kwon’s trial and any subsequent legal proceedings will have far-reaching implications, shaping not only the future of Terraform Labs but also influencing regulatory approaches to cryptocurrencies worldwide. In the future, stakeholders will need to collaborate to find a balance between promoting innovation and safeguarding against fraudulent activities in the cryptocurrency space.  Facing regulatory challenges and promoting responsible innovation, the sector can continue to thrive and evolve in a way that is beneficial both for investors and for the broader financial ecosystem.

4 days ago
Coinpedia
Coinpedia
followers

The post Why XRP Is Down Today? Here’s Are The Possible Factors Pulling The Curtains Down! appeared first on Coinpedia Fintech News As the SEC vs. Ripple lawsuit enters a pivotal phase, both parties are diligently crafting remedies-related briefs. This signifies a notable progression in the legal proceedings, with looming deadlines shaping the direction of the case. Notably, March 13 marks a key milestone for the SEC’s filing, followed by April 12 for opposing motions, and April 29 for final remedies submissions. Hence by April 29th, the court is expected to determine penalties for Ripple’s alleged institutional sales of XRP, potentially offering closure to the protracted legal battle. However in a recent breakout, it went beyond Ripple vs SEC, the SEC is yet again entangled in another legal mess. Here’s what happened and its impact on XRP at a glance.  XRP slips below $0.55 amid ongoing SEC v. Ripple lawsuit developments. March 13 marks a pivotal deadline as court prepares to determine penalties. Meanwhile, LEJILEX crypto exchange and CFAT sue SEC, challenging digital asset sales classification. #Maleyatupdates — Maleyat Group (@MaleyatGroup) February 22, 2024 Legal Battle Intensifies: LEJILEX Exchange Challenges SEC  Surprisingly, the LEJILEX crypto exchange and the Crypto Freedom Alliance of Texas (CFAT) have taken legal action against the SEC. Their lawsuit seeks a declaration affirming that secondary-market sales of digital assets, including those envisioned by LEJILEX, do not constitute sales of securities. This groundbreaking lawsuit underscores the mounting tensions between regulators and the crypto industry, as stakeholders seek clarity on the regulatory landscape. So far, Ripple has set an example in the industry by fighting and winning over the SEC, and this case will bolster efforts to save crypto from SEC manipulation. XRP is Poised for Further Price Correction From a technical point of view, investors and experts pay close attention to how the price of XRP changes. Even though it fell below $0.55, the 6th largest coin is still in the race. Analysts say that if XRP goes down even more, it might test the 23.6% Fibonacci level at $0.5219. But signs like the Moving Average Convergence/Divergence (MACD) show that things are going in the right direction, and the Awesome Oscillator (AO) suggests that the asset’s price trend might be about to change. Looking ahead, market participants are closely monitoring XRP’s behavior, particularly its ability to bounce back to the support levels and attain its upward trajectory. If XRP manages to rebound it could see retesting the 78.6% Fibonacci retracement level at $0.6073.  On the other hand, a sustained drop below $0.5219 may pave the way for further correction, potentially leading to a decline to $0.50. However, optimism remains high that XRP could recover its losses upon surpassing this critical threshold.

4 days ago
COINCU
COINCU
followers

Key Points: Do Kwon extradition has been approved by the court with the United States as destination from Montenegro over the collapse of TerraUSD. The High Court of Podgorica rejected Kwon's appeal to be extradited to South Korea, highlighting the global significance of the case. Accoriding to reports, Terraform Labs founder Do Kwon extradition will be concluded with the United States as the destination following a decision by the High Court of Podgorica in Montenegro. Do Kwon Extradition Decision: U.S. Trial Over TerraUSD Collapse Kwon, detained since June 2023, encountered legal hurdles challenging his extradition to South Korea before the U.S. The rejection of this appeal by Kwon’s legal team emphasizes the high court's stance on Do Kwon extradition. The case, stemming from the collapse of the digital currency TerraUSD in May 2022, has drawn international attention due to its significant financial ramifications. The collapse saw losses of an estimated $40 billion, leading to charges by the U.S. Securities and Exchange Commission (SEC) against Terraform and Kwon for multibillion-dollar fraud. Terraform Labs Founder's Alleged Fraud Triggers International Attention Kwon's arrest in Montenegro came after months of speculation regarding his whereabouts following Terra's collapse. Initially sentenced to four months for using falsified travel documents, Do Kwon extradition proceedings have been ongoing during his custody. The SEC alleges that Terraform and Kwon misled investors regarding the stability of TerraUSD, which aimed to maintain a constant $1 price. TerraUSD's failure affected not only investors but also a Korean mobile payment app utilizing Terraform's blockchain for transactions. Despite previous attempts to extradite Kwon to South Korea, the latest development indicates his imminent extradition to the United States. This decision marks a significant turn in the legal saga surrounding TerraUSD's collapse and underscores the international ramifications of cryptocurrency-related fraud cases. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

4 days ago
Cryptopolitan
Cryptopolitan
followers

Amid ongoing legal battles between Ripple Labs and the US Securities and Exchange Commission (SEC), recent speculation regarding a potential settlement has been met with skepticism and outright dismissal by legal authorities closely monitoring the case. Speculation of settlement amid financial disclosure mandate Following a recent court ruling mandating Ripple to furnish comprehensive financial records related to its institutional sales of XRP for the years 2022 and 2023, there has been speculation about an impending settlement. However, legal experts within the XRP community have debunked these rumors, citing the confidential nature of settlement negotiations. Bill Morgan, a seasoned attorney, emphasized that settlement negotiations are confidential and subject to privilege, cautioning against reading into rumors until a settlement is formally announced. Similarly, another legal expert, Jesse Hynes, categorically dismissed the rumors as baseless, noting that leaks in such high-stakes legal matters are improbable. Marc Fagel, a retired securities lawyer, added a touch of sarcasm to the discussion, ridiculing the notion of leaks in settlement negotiations. He highlighted the confidentiality surrounding such discussions and stressed that leaks are highly unlikely. Ripple’s legal journey and market impact Since the lawsuit’s inception in December 2020, Ripple has faced significant legal challenges, with the SEC scrutinizing its institutional sales of XRP. Despite legal turbulence and its impact on XRP’s market performance, Ripple has secured notable victories in court, including the determination that XRP is not a security and the dismissal of the SEC’s case against Ripple executives Brad Garlinghouse and Chris Larsen. As the case progresses into the remedies phase, with crucial deadlines looming, the crypto community remains on edge. The outcomes of this legal battle could have far-reaching implications for Ripple, its related XRP sales, and the price of digital assets.

11 days ago
AZCoinNews
AZCoinNews
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The High Court in Podgorica has decided to extradite Do Kwon, the former CEO of Terraform Labs, to the United States, where he faces charges of securities fraud, commodities fraud, wire fraud, and conspiracy. The court rejected South Korea’s request to extradite the so-called ‘crypto king’, who is accused of orchestrating a multi-billion dollar crypto asset scam that crashed the TerraUSD and Luna tokens in May 2022. The court’s decision came after the Appellate Court ordered the High Court to choose between the two countries that sought Do Kwon’s extradition. The High Court had previously confirmed that the conditions for extradition were met, but left the final decision to the Minister of Justice, Andrej Milovic. However, the Appellate Court pointed out that the Minister of Justice only decides in regular extradition procedures, and that Do Kwon had agreed to be extradited in a shortened procedure to the countries that requested his extradition. Do Kwon Do Kwon’s lawyer, Goran Rodic, had argued that his client should be extradited to South Korea rather than the United States, based on legal reasons. He said that the European Convention on Extradition, the bilateral agreement with the US, and the Montenegrin Law on International Legal Assistance all indicated that Do Kwon should be extradited to South Korea, when such a decision was made. On the other hand, Minister of Justice Andrej Milovic, commenting on whether Do Kwon should be extradited to South Korea or the US, said that it was a political decision. “The US is our main foreign policy partner, we want to sign a bilateral extradition agreement as soon as possible, in order to create a legal framework for future extraditions,” he said at the time. Do Kwon and his associate, Han Chang-joon, were arrested on March 23, 2023, at Podgorica Airport, where they tried to fly to Dubai with fake passports of Costa Rica. During the search, the police also found travel documents of Belgium. During the court proceedings before the Basic Court in Podgorica for falsifying documents, the Koreans claimed that they had traveled the world with passports of Costa Rica and Belgium, which they had obtained through an agency in Singapore, and that they did not doubt their authenticity. Do Kwon also said that, a few days after they received the passports of Belgium, he and his associate saw that the names and dates of birth in the passports were wrong and that they did not use them for that reason. “We did not suspect that such a mistake could happen, so we did not check the passports during the handover. When we applied for a passport of Belgium, we also applied for passports of Grenada, that request was rejected, while our request for a passport of Costa Rica was approved, as a result of which we built a relationship of trust with this agency,” Do Kwon said. Han Chang-joon was extradited to South Korea 10 days ago. Source: https://azcoinnews.com/montenegro-to-extradite-crypto-king-do-kwon-to-the-us.html

4 days ago
Coinpedia
Coinpedia
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The post XRP Price Nears $0.60 as Ripple vs. SEC Lawsuit Enters Critical Phase appeared first on Coinpedia Fintech News As the legal showdown between Ripple vs SEC reaches a critical juncture, the crypto market braces for potential aftershocks. With the lawsuit advancing into the pivotal “remedies” phase, investors and stakeholders eagerly await developments that could shape the future trajectory of the case and influence broader regulatory dynamics. The latest update reveals Ripple’s XRP rose to $0.5741 today, moving closer to its $0.60 target amid growing anticipation of the SEC v. Ripple legal battle. However, the key financial and operational facts stay secret until February 20, 2024, as the litigation progresses. SEC v. Ripple Lawsuit Enters New Phase  Today, February 20th marks the crucial date in the Ripple vs SEC case, with Ripple poised to reveal its financial records and respond to the SEC’s interrogatories. The delay in remedies-related discovery, granted by Magistrate Judge Sarah Netburn, highlights the case’s complexity and the necessity for careful consideration before deciding. On top of that, Ripple’s compliance with the SEC’s demands for detailed financial statements and post-complaint XRP institutional sales contracts represents a significant development in the lawsuit. Ripple initially refused the demands however later agreed to adhere to the court’s order, signaling a willingness to cooperate with legal proceedings. Implications for the Crypto Industry As the case advances into the remedies phase today, both Ripple and the SEC are preparing for forthcoming legal briefs and proceedings in March and April. The court’s ruling on the appropriate penalties and remedies for Ripple’s alleged securities law violations carries far-reaching implications for the crypto industry and regulatory landscape. Blockchain researcher Collin Brown recently updated on the Ripple vs. SEC case, noting the extended deadline for remedies-related discovery has passed. However, he said that access to Ripple’s information awaits the SEC’s brief filing on March 13. Beyond February 20, key dates from March 13 through April 29 mark critical milestones in the lawsuit, with legal experts and stakeholders closely monitoring developments. However, the resolution of the lawsuit remains uncertain, with the potential for appeals and prolonged legal proceedings looming large. Current Market Sentiment’s Today XRP’s price rose 1.51% to $0.5688, with trading volume up by 76.67% to $1.33 billion. Over the past seven days, XRP has surged nearly 8% in price. Despite legal uncertainties, XRP has shown resilience, with increasing prices and trading volumes. Ripple’s call for compliance and transparency amid market volatility highlights its commitment to sailing the unregulated crypto waters. As stakeholders await updates, the Ripple vs. SEC case will shape cryptocurrency regulation, extending beyond the courtroom.

5 days ago
CoinFea
CoinFea
followers

Ashley Prosper, a prominent figure within the XRP community, recently provided valuable insights into the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). This case, which has captivated the attention of the cryptocurrency world, revolves around the SEC’s claim that Ripple engaged in the sale of unregistered securities through its distribution of XRP tokens. Prosper’s update sheds light on the critical phases of the lawsuit, particularly focusing on the discovery process related to remedies and the significant role Ripple’s financial records will play in the proceedings. According to Prosper, the discovery phase has been extended to February 20, a key date Ripple must comply with a court order to submit its financial details. These documents, crucial for the SEC’s argument for an injunction against Ripple’s future sales of XRP to institutions, are expected to be made public on March 13. This will occur when the SEC files its brief on the remedies, revealing Ripple’s audited financial statements for 2022 and 2023, along with information on institutional sales of XRP post-complaint. Anticipated timeline for case resolution The lawsuit’s timeline has been a subject of speculation within the cryptocurrency community. Prosper clarifies that a final judgment from Judge Analisa Torres will likely come later in the year, with the remedies schedule order indicating an April 29 deadline for the final remedies brief submission. A judgment could be expected between July and August, though delays could push the decision into the next year. Prosper also notes that an April resolution could only feasibly result from a settlement between Ripple and the SEC, a scenario that remains uncertain at this stage. Implications for Ripple and the cryptocurrency industry The Ripple vs. SEC lawsuit is more than a legal battle between two entities; it is a pivotal moment for the cryptocurrency industry at large. The outcome could set a precedent for how digital assets are regulated in the United States, making the case a bellwether for applying securities laws in the digital age. As the cryptocurrency community awaits the release of Ripple’s financial records and the final stages of the lawsuit, the implications for regulatory practices and the future of digital assets are significant. Prosper’s insights into the Ripple vs. SEC case provide a clearer picture of the expected timeline and the potential ramifications for Ripple, the XRP community, and the broader cryptocurrency market. As the legal proceedings advance, the industry looks on with keen interest, recognizing the case’s capacity to influence the regulatory landscape for years. The post Ripple lawsuit update: Key deadlines and insights revealed first appeared on Coinfea.

5 days ago
Cryptopolitan
Cryptopolitan
followers

In a significant update concerning the legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs, Ashley Prosper, a well-regarded member of the XRP community, has provided clarity on the expected timeline for the case’s progression and eventual resolution. Prosper’s insights come at a crucial juncture as stakeholders within the cryptocurrency sector closely monitor the developments of this landmark lawsuit. The case has seen numerous twists and turns and hinges on the SEC’s allegations that Ripple conducted unregistered securities offerings by selling XRP tokens. Prosper highlighted the current lawsuit phase, focusing on the remedies-related discovery process. According to Prosper, the deadline for this phase was extended to February 20, which also marks the date Ripple is mandated to submit its financial records in accordance with a court order. These records are anticipated to play a pivotal role in the proceedings, especially as the SEC seeks to establish the need for an injunction against Ripple’s future institutional sales of XRP. The documents in question, including Ripple’s audited financial statements for 2022 and 2023 and details of post-complaint institutional sales of XRP, are slated for public release on March 13, when the SEC files its remedies brief. Understanding the legal proceedings and implications The legal discourse surrounding the Ripple vs. SEC lawsuit extends beyond the immediate parties involved, touching on broader implications for the cryptocurrency industry. Ripple’s victories in certain aspects of the case, such as the rulings on XRP programmatic sales and the classification of the coin as a non-security, have been viewed as significant milestones. Conversely, the SEC has also seen success, notably in its motion to compel Ripple to produce its financial records concerning XRP institutional sales. Prosper’s analysis sheds light on the expected timeline for the lawsuit’s conclusion. Contrary to some speculations within the XRP community, the final judgment by Judge Analisa Torres is not anticipated until later in the year. Prosper cites the remedies schedule order, which sets April 29 as the deadline for the final submission of the remedies brief. Following this submission, a judgment is expected to be issued between July and August, although there remains the possibility of a delay until the following year. Prosper emphasizes that an April resolution would likely only occur through a settlement between Ripple and the SEC. A scenario that remains uncertain given the SEC’s apparent intent to leverage the case as a precedent for future regulatory actions against other crypto projects. The path forward for Ripple and the crypto industry The Ripple vs. SEC lawsuit has been closely watched by industry observers, as its outcome could have far-reaching implications for the regulatory landscape of cryptocurrencies in the United States. The case’s progression underscores the complexities of applying traditional securities laws to the rapidly evolving digital asset space. As the legal battle unfolds, the cryptocurrency community remains divided on the potential impact of the final judgment. The anticipation surrounding the disclosure of Ripple’s financial records and the subsequent steps in the legal process reflects the high stakes involved. With the SEC aiming to establish a precedent and Ripple defending its operational practices, the lawsuit serves as a litmus test for the future of cryptocurrency regulation. As the deadline for the remedies brief approaches, stakeholders are bracing for the next phase of this legal saga, which promises to shape the regulatory framework governing digital assets for years to come. In conclusion, the insights provided by Ashley Prosper offer a clearer understanding of the timeline and potential outcomes of the Ripple vs. SEC lawsuit. As the case progresses, its implications for Ripple, the XRP community, and the broader cryptocurrency industry remain a focal point of discussion and analysis.

5 days ago
奔跑财经-FinaceRun
奔跑财经-FinaceRun
followers

Ripple was granted an extension and filed an XRP sales contract in SEC legal action. Ripple has until February 20 to submit contracts to sell XRP to institutional buyers, hedge funds, and on-demand liquidity (ODL) customers, according to the latest developments in the court case between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). Ripple puts strategic focus on contract submissions amid SEC battle The request for an extension stems from Ripple's difficulty in obtaining and producing necessary documents in the three years prior to the current legal proceedings. They said additional time is needed to ensure the information they collect is correct and complete because of the complexity. It’s worth noting that Ripple’s request for an extension is specifically limited to the production of the contract. They did not ask for any other dates to be changed in the case. However, the deadline is approaching, so it remains to be seen whether the company has used its time wisely. Legal experts believe Ripple’s choice to focus solely on the contract filing date demonstrates the company’s commitment to addressing the SEC’s concerns.​ Once the contract is filed by February 20, the next important steps in the court battle will likely occur in March and April, when the parties will file legal briefs. The court will then carefully consider the arguments raised and decide what penalty should be imposed. #Ripple #SEC

7 days ago
CoinQuest
CoinQuest
followers

Despite whale profit-taking slowing down, XRP maintains its position above $0.56. 1. On Monday, XRP reached $0.5627, resulting in a weekly gain of over 6% for holders. 2. The discovery phase of the SEC v. Ripple case is set to conclude on February 20, marking a crucial milestone in the legal proceedings. 3. While ripple whales have been increasing their holdings, smaller investors have been selling off their XRP. 4. The next phase of the SEC action involves the formal exchange of material, with a deadline set for February 20. 5. The discovery process regarding remedies in the SEC v. Ripple case will officially end on February 20, following a request for an extension by the remittance business. 6. Institutional sales of XRP post-lawsuit filing have prompted Ripple to seek more time to gather information requested by the SEC. 7. February 20 signifies an important date for XRP holders awaiting further developments in the legal battle. 8. Settlement discussions, summary judgments, or a trial phase could ensue depending on the parties' agreement on their respective positions. 9. Data from Santiment indicates a steady increase in XRP holdings by significant wallet users, contrasting with the selling trend among small holders and retail investors. In conclusion, despite regulatory uncertainties and ongoing legal battles, XRP has shown resilience by maintaining its price above $0.56. With the discovery phase ending soon and institutional interest remaining strong, XRP's future looks promising despite the challenges it faces. $XRP #Write2Earn #TrendingTopic #AmanSaiCommUNITY #XRP🚀

7 days ago
Coinpedia
Coinpedia
followers

The post Ripple vs SEC: Attorney Reveals Key Details On The Next Important Date appeared first on Coinpedia Fintech News The SEC v Ripple Labs are preparing for a crucial judicial battle on February 20, 2024. All the eyes are on the case as this is the only thing that can turn the case upside down. Ripple is confident in its ability to negotiate the SEC’s tactics to extend the legal process for financial advantage, even though the SEC may be celebrating a previous success forcing it to release financial documents. Meanwhile, legal experts reveal some key details.  Filan Update Adds Weight to February 20th Hearing Renowned attorney James K. Filan chimed in on the importance of February 20th in the SEC vs Ripple legal battle. Ripple is expected to respond to the SEC’s inquiries on this date, marking a crucial milestone in the ongoing case.  Right now, the whole controversy revolves around the financial documents. In the remedies phase of the litigation, the court determines sanctions for Ripple’s alleged securities law violations, specifically its sales of XRP to institutional clients. The SEC filed a motion to require Ripple to provide its audited financial statements from 2022 to 2023 and contracts for sales after the lawsuit started to help the court decide. Plus, the SEC also asked for information on how much profit Ripple made from selling XRP to big investors after the lawsuit started. On this Ripple resisted at first, but Magistrate Sarah Netburn sided with the SEC. Now Ripple has to provide the requested records by February 20th. Impact on Ripple’s Future XRP Sale The upcoming release of Ripple’s financial records will greatly affect how the court decides what measures are best. In addition to fines, the threat of an injunction against Ripple’s future sales of XRP to big clients can also be affected. The SEC says these financial records are very important for determining if such an injunction is needed. If it is, Ripple might have to register with the SEC before selling XRP to institutional buyers in the U.S. What Next? Looking ahead, March 13th through April 29th marks the next significant phase in the lawsuit, during which parties will submit their respective briefs about remedies litigation. Following this period, the court will determine the appropriate penalty for Ripple’s alleged violations. Legal experts and Ripple CTO David Schwartz posit that resolution may occur this year, though the specter of appeals could prolong proceedings into 2025 or 2026. Potential Appeals and Conclusion Appeals are still possible since Ripple and the SEC can challenge disagreeing decisions. Ripple benefited from last year’s summary judgment, but the SEC still disputes sections of it. The court denied the SEC’s interlocutory appeal, complicating the judicial procedure. The district court may hear more appeals if the case ends this year. As February 20th approaches, the XRP community braces for the next chapter in this twisted lawsuit, which could impact Ripple, XRP, and digital asset regulation.

7 days ago
Cryptopolitan
Cryptopolitan
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The saga of FTX’s downfall takes a dramatic twist with a new lawsuit pointing fingers at Sullivan & Cromwell, the law firm at the helm of the cryptocurrency exchange’s bankruptcy proceedings. Accusations are flying thick and fast, with FTX creditors alleging the firm not only had its hands deep in the cookie jar but also actively participated in the concoction of FTX’s financial disaster. Unraveling the Web of Allegations A tidal wave of controversy surrounds Sullivan & Cromwell, a law firm with roots stretching back over a century, now caught in the eye of the FTX storm. The lawsuit unearths a narrative where greed and collusion allegedly flourished unchecked. Creditors claim the law firm was, according to them, an accomplice that benefited from the chaos. The connections between FTX and Sullivan & Cromwell were not casual or fleeting. Ryne Miller, a figure pivotal to this tale, transitioned from a partner at the law firm to FTX’s general counsel, weaving a network of business that funneled back to his former employer. This is a calculated play to ensure Sullivan & Cromwell remained deeply entangled with FTX, reaping financial rewards through various legal undertakings. The narrative further thickens with the mention of FTX’s CEO, Sam Bankman-Fried, and his cozy relationship with the law firm, to the extent of operating from their offices. This closeness between the corporate entities is highlighted as a testament to their intertwined operations, raising questions about the law firm’s ability to maintain a professional distance and objectivity. FTX’s Financial Entanglements and Legal Quagmires Beyond the personal connections, the lawsuit shines a light on the financial ties that bound FTX and Sullivan & Cromwell together. The law firm’s coffers swelled with millions of dollars in legal fees from FTX, a point of contention given the exchange’s tumultuous financial health. Such monetary benefits are scrutinized, with creditors pointing out the potential conflict of interest these earnings represent, especially as Sullivan & Cromwell takes charge of navigating FTX through bankruptcy. The legal entanglements do not end with accusations of cozy relationships and financial gains. The lawsuit also delves into the firm’s alleged complicity in FTX’s misleading practices, painting a picture of a legal guardian that instead of protecting, chose to partake in the spoils of deception.

7 days ago
Crypto Daily™
Crypto Daily™
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In today's cryptocurrency market, Bitcoin rebounded past the significant mark of $52,200. Despite this surge, its trading volume interestingly dipped by 10%, resting at $19.78 billion, while maintaining a towering market cap of $1.03 trillion. Ethereum, a major player in the altcoin domain, isn't far behind, registering a 3% increase to above $2,900 and boasting a market valuation of $349.7 billion. Ethereum's trading activity also saw a notable hike, with its volume gaining 28%, almost touching $24.6 billion. In the midst of these market movements, Ripple (XRP) recovered past $0.56. Yet, like Bitcoin, it experienced a 10% fall in trading volume, down to $819 million. Despite this, XRP holders saw nearly 8% weekly gains, hinting at an underlying resilience. As the calendar flips closer to February 20th, Ripple (XRP) is girding itself for a pivotal chapter in its courtroom saga with the SEC – this next act promises to peel back layers of the case during discovery related to remedies and could very well be packed with surprises. Amidst this landscape, ScapesMania (MANIA), although having concluded its presale stage, is generating buzz as its coming DEX listing approaches. This next step for MANIA isn't just another update; it's set to throw open the doors to an even wider audience. Ride The Wave of Innovation with ScapesMania The ScapesMania public sale wrapped up, becoming the talk of the crypto community. The project managed to secure over $6,125,000 at an unprecedented rate and there’s a strong probability that the token's value might increase exponentially in the future. The spotlight has shifted to the Token Generation Event (TGE) coming up on February 25 – March 09. The pool of tokens is smaller than it was before, the conditions are better than the market average, so the chance to maximize your potential returns is quickly diminishing. Letting it slip now would be a huge waste, especially since your chance to join is only a click away. Your Last Chance to Boost Potential Returns Post Listing The team behind ScapesMania, with years of expertise, has crafted a robust post-listing marketing strategy. Buyback, burn, staking, and all the perks for holders keep attracting new adopters while also ensuring a high level of community engagement. Through DAO governance, backers will be able to influence and benefit from a growing industry. Moreover, the token's utility is impressive. It's not another meme coin whose success relies heavily on trends and hype. ScapesMania ($MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. As a player in the multi-billion casual gaming industry, it leverages the market's growth potential. Post-debut, holders can anticipate greater liquidity and easier trading. A solid token management plan will further increase longer-term growth potential.  The community's excitement about the project is evident so far: the follower count has reached 60K+. Also, the growing interest from crypto whales with deposits of $20,000+ might expedite ScapesMania's transition from niche to mainstream. ScapesMania's smart contract has received approval from prominent security-ranking firms, ensuring peace of mind for holders. Additionally, the PancakeSwap listing is on the horizon, with CEX listings still in the works. ScapesMania is also notable for a great cliff vesting structure to prevent token dumping, making sure that supply and demand are well-matched for potential growth. Make sure you don't pass up the opportunity to leverage all discounts and potentially beat the market with the TGE fast approaching. Be quick if you want to be the first one in line for all the post-listing opportunities, which might be quite lucrative. >>> TGE ALERT – Keep Up With Latest News <<< Ripple (XRP) on the Edge: Lawsuit Outcome to Set Future Course The Ripple (XRP) market was abuzz with activity, especially in light of the recent developments in the SEC v. Ripple lawsuit. As the legal battle approached a critical juncture on February 20th, with the formal end of its remedies-related discovery phase, Ripple was granted an extension to compile post-complaint institutional sales data, which had a noticeable impact on XRP's market behavior. Source: TradingView Currently, Ripple (XRP) is trading between the key levels of support at $0.5209 and resistance at $0.5864. The market is closely watching these levels as they determine XRP's short-term price trajectory. Ripple (XRP) Technical Analysis From a technical perspective, Ripple's (XRP) Exponential Moving Averages (EMAs) - 10-day at $0.5587, 50-day at $0.5463, and 200-day at $0.5403 - suggest a cautiously optimistic trend, with the price hovering above all three EMAs. The Relative Strength Index (RSI) at 57.15 indicates a neither overbought nor oversold condition, providing room for movement in either direction. However, the Stochastic %K at 82.71 leans towards an overbought territory, hinting at potential price correction. The Average Directional Index (14) at 18.96 shows a lack of strong trend, and the MACD Level (12, 26) at 0.004 reinforces this indecisiveness. These technical indicators, combined with the uncertainty surrounding the lawsuit's outcome, make XRP's near-term price direction somewhat unpredictable. Ripple (XRP) Price Action – What’s Next? In the bullish scenario, Ripple's (XRP) resilience is underscored by the recent accumulation by large wallet holders, as reported by Santiment. Coupled with a decline in whale transactions and slowed profit-taking, this suggests a potentially bullish outlook. If buying pressure increases, bolstered by a favorable outcome in the legal proceedings or positive market sentiment, XRP could retest $0.5864 and possibly eye the next barriers at $0.6158 and even $0.6813. On the flip side, the bearish scenario takes into account the recent loss of momentum by the bulls over the weekend and the shedding of XRP holdings by small holders and retail investors. If bearish pressures persist and buying pressure fails to materialize, Ripple (XRP) could see a downturn, potentially retesting $0.5209 and even the lower support levels at $0.4847 and $0.4191, with the ongoing legal developments adding to the uncertainty. In both scenarios, the coming key date in the SEC lawsuit looms large, poised to significantly influence XRP's market trajectory. Bottomline The coming key date in the SEC lawsuit is set to be a decisive factor in shaping Ripple's (XRP) future market trajectory. Currently trading between pivotal support and resistance levels, XRP's price action reflects a cautiously optimistic trend, as indicated by its EMAs. However, the mixed signals from technical indicators such as the RSI and Stochastic, coupled with the uncertainty of the lawsuit's outcome, render Ripple's (XRP) near-term direction unpredictable. The market's response to the impending legal developments will determine whether XRP stays resilient or succumbs to bearish pressures. Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

6 days ago
Coinstages
Coinstages
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In a story that reads like a modern-day treasure hunt, James Howells, a computer engineer from Newport, has launched a legal battle against the Newport City Council over a hard drive containing a whopping digital fortune. The hard drive, which Howells accidentally threw away during a spring clean in 2013, holds 7,500 BTC that were worth £200 at the time, which is worth about £390 million today, because Bitcoin now trades at prices above $50,000. The dispute has escalated to a £1 billion lawsuit, as Howells seeks permission to search the landfill where he believes his fortune is buried. Howells’ plight began when he mistakenly disposed of the hard drive, only to realize later that it contained a substantial amount of Bitcoin. Despite his frantic search, the drive had already been taken to the local landfill by his ex-partner, sparking a years-long quest to recover his lost wealth. $1 Billion Lawsuit For The Search For the past ten years, Howells has been in talks with the council, offering a plan for an eco-friendly excavation using cutting-edge AI technology to locate the hard drive. He has even proposed sharing a portion of the recovered Bitcoins with the council. However, the council has consistently refused, citing environmental regulations and questioning Howells’ claim to the Bitcoins after their disposal. Howells has now planned to take his fight to the courts, arguing that the council’s refusal to allow him to search the location for the hard drive is an unreasonable interference with his property rights. He contends that his ex-partner discarded the drive without his permission, and he should be allowed to recover what is rightfully his. A Case with Far-Reaching Implications This legal tussle highlights the complex issues surrounding digital assets and their ownership. The case raises questions about whether ownership rights to discarded Bitcoin can be retained and whether local authorities must assist in the recovery of lost property within their domains. The crypto community is keeping a close eye on the outcome of this case, which could set a precedent for the recovery of lost digital assets. A win for Howells could mean a more straightforward process for others in similar predicaments. In contrast, a win for the council could underscore the importance of careful handling and disposal of digital assets. As the legal proceedings unfold, the fate of Howells’ BTC remains in limbo. This case not only underscores the perils associated with early Bitcoin investments but also delves into the legal intricacies of digital ownership in an age where the value of such assets can skyrocket overnight. The impending court decision is eagerly anticipated, with potential consequences for Howells and the broader landscape of cryptocurrency ownership. ⚠️Disclaimer This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader. #Bitcoin‬ #BTC‬

9 days ago
Crypto Daily™
Crypto Daily™
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With bitcoin looking as though it’s going to go even higher, altcoins are showing signs of following this move. Although riskier plays, the altcoins have the potential to drastically outperform. Will altcoins ride the $BTC wave? Bitcoin is potentially gearing up for an explosive move toward $65,000 as the huge inflows from the Spot Bitcoin ETFs continue at pace. Will the altcoins take a back seat as $BTC dominates the proceedings, or will they ride on this upcoming wave and surge towards even greater gains? Source: Coingecko/Trading View As can be seen from the Total3 chart (total market cap of all altcoins excluding $BTC and $ETH) a breakout has now occurred. It remains to be seen now if this will continue, or if a pull back will enable the price to retest the downward trend line. Source: Coingecko/Trading View Bitcoin dominance still high Bitcoin dominance is still high at just under 54%. The dominance chart shows that $BTC is fighting with the top of the resistance band that stretches between 52.3% to 54%.  If $BTC were to set off on a crazy run towards $65,000 it’s highly likely that the dominance would increase in bitcoin’s favour. That said, there are a handful of top altcoins that could buck this trend and still outperform the alpha cryptocurrency. Render (RNDR), Kaspa (KAS), and Injective Protocol (INJ) spring to mind. At time of going to press, $BTC is pressing toward $53,000. Some of the altcoins are also stirring into life. The next 60 days going into the halving are likely to be full of volatility. Trade safely. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

9 days ago
Coinscreed
Coinscreed
Ripple XRP Lawsuit: SEC Legal Battle May Extend to 2026
14 days ago
Coinpedia
Coinpedia
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The post Setback for XRP as SEC Motion Wins Court Nod; New Memecoin Has Potential to Outshine Dogecoin appeared first on Coinpedia Fintech News The cryptocurrency market is often marked by regulatory developments that impact the trajectory of various digital assets. Recent events have highlighted both challenges and opportunities in this dynamic landscape. While Ripple faces a setback with the SEC winning a court motion, Rebel Satoshi ($RBLZ) emerges as a potential contender poised to outshine established meme coins like Dogecoin.  Ripple’s Regulatory Setback Ripple, the company behind the XRP cryptocurrency, faced a significant setback as the SEC won a court motion in its ongoing legal battle. The motion, which pertains to the SEC’s allegations of unregistered securities offerings through XRP sales, underscores Ripple’s regulatory challenges. Despite Ripple’s efforts to defend its position, the court’s ruling in favour of the SEC signals a formidable obstacle in its path. The outcome of this legal battle has far-reaching implications for Ripple and the broader cryptocurrency industry. With the possibility of appeals and prolonged legal proceedings, uncertainty looms over Ripple’s future trajectory and the regulatory landscape governing digital assets. Rebel Satoshi’s Rise in the Meme Coin Arena Amidst regulatory challenges faced by established cryptocurrencies like XRP, Rebel Satoshi ($RBLZ) emerges as a promising contender in the meme coin space. With its innovative approach and strong community support, Rebel Satoshi has the potential to outshine popular meme coins like Dogecoin and carve a niche for itself in the crypto market. Rebel Satoshi’s presale has garnered significant attention, with over 123 million RBLZ tokens sold and close to $1.8 million raised. As the presale approaches the $2 million mark, investors are presented with a compelling investment opportunity. Built on the secure Ethereum network and audited by a top auditing firm, Rebel Satoshi offers a transparent and safe investment environment. This is why it is regarded as the best memecoin. The upcoming launch of Rebel Satoshi is highly anticipated, with discussions for tier 1 centralized exchange (CEX) listings underway to enhance liquidity and accessibility. Previous presale rounds witnessed overwhelming demand, highlighting investor confidence in Rebel Satoshi’s potential to disrupt the meme coin landscape. Final Thoughts In conclusion, Ripple’s regulatory setback underscores the challenges established cryptocurrencies face in navigating the evolving regulatory landscape. However, amidst these challenges, Rebel Satoshi emerges as a promising contender in the meme coin arena, offering investors an attractive investment opportunity. As investors evaluate which crypto to buy today for long-term gains, Rebel Satoshi frequently finds itself in the conversation. Its unique features and strong community support position it as one of the top crypto coins to watch in the coming months. As the cryptocurrency market evolves, opportunities like Rebel Satoshi’s presale present investors with promising long-term growth and innovation prospects in the digital asset space. For the latest updates and more information, be sure to visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram

10 days ago
CoinChapter
CoinChapter
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XRP Whales Can Cause a Major Market Dump Read CoinChapter.com on Google News NEW DELHI (CoinChapter.com) — XRP Q1/2024 price action has seen a notable journey on the charts, marked by a recent surge and a subsequent challenge against key resistance levels. As of Feb. 14, the price action suggests a delicate balance between bullish momentum and potential bearish retracement. XRP Q1/2024 Prediction Technically, XRP’s price has approached a resistance confluence zone, a critical juncture that typically leads to a strong price reaction. This zone comprises a descending trendline, a 200-day exponential moving average (200-day EMA; the red wave), and a previously established horizontal resistance around $0.55. XRP/USD daily price chart. Source: TradingView The RSI on the three-day chart is neutral. If the price retreats, the next support lies around the $0.35 level, suggesting a possible 25% decline from the current levels. Conversely, a breakout above the descending trendline could shift the target to $0.60, a level of historical significance that has acted as both support and resistance in the past. XRP whales have reportedly dumped their holdings since February, a sign of diminishing confidence in Ripple’s position. This sentiment reflects a broader trend within the XRP news community, where stakeholders appear to be positioning themselves ahead of the legal resolution. XRP whales holding over 100,000 native tokens. Source: Messari Market Dynamics and Future Predictions On the volume front, XRP has seen substantial activity, with a 24-hour trading volume crossing $700 million, reflecting heightened liquidity and market interest. Despite the recent dip below the $0.50 support level, XRP has been up by 45% since the beginning of the year, largely due to Ripple’s legal successes. As the market digests these developments, a return to $0.60 in the short term is within reach, with potential for further appreciation by year-end. In conclusion, while XRP’s near-term trajectory may face headwinds from technical resistance and an overbought RSI, the underlying market sentiment, driven by legal proceedings and whale activity, provides a weaker backdrop for its longer-term outlook. The post XRP Q1/2024 Prediction Sees 25% Decline appeared first on CoinChapter.

11 days ago

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