Ripple (XRPUSD)

[MindlessSelf]

Any developments on cred bankruptcy? Was Uphold able to recoup any xrp for its members?

[WolfOfGrnStreet]

Corruption

[GreedyAgorist]

Guess we have to wait to be flipped by Solana… then maybe XRP can be the little engine that could.

Just two billion ahead in market cap now. Only a matter of time. That’s thanks to what…? Airdrops and ETF anticipation. It’s called having something to look forward to. We need something to look forward to. Coinbase can only go public once, and they already did that. : - /

[Bizdevguy]

FASB has officially adopted Fair Value Accounting for #Bitcoin  for fiscal years beginning after Dec 15, 2024. This upgrade to accounting standards will facilitate the adoption of $BTC as a treasury reserve asset by corporations worldwide. fasb.org/page/getarticl…

[delerious1]

4 more months seems like a long way away but not when we consider it's been 3 years since the charges

[delerious1]

Important Ripple (XRP) Update Four Months Before the SEC Trial
Author: Dimitar Dzhondzhorov Last Updated Dec 13, 2023 @ 09:16
Ripple moved its global headquarters to a new address in San Francisco.



Ripple’s New San Francisco HQ: Ripple opens new global headquarters in San Francisco, showcasing commitment to stay in the US amid its SEC legal battle.
Legal Dispute with SEC: Ripple’s ongoing legal dispute with the SEC involves allegations of selling over $1.3 billion in unregistered XRP securities, with significant developments favoring Ripple in 2023.
Impactful Upcoming Trial: A decisive trial in April will determine the outcome of Ripple’s conflict with the SEC, potentially influencing the broader cryptocurrency sector.

Ripple’s New Home
Ripple has been frequently making the headlines throughout the ongoing year thanks to the numerous developments surrounding the blockchain enterprise and its winning court streak against the United States Securities and Exchange Commission (SEC).

Most recently, the company announced the opening of new global headquarters in San Francisco, hinting that it has no intention to leave American soil. The building with the modern office was built in 1927 and recently underwent a remarkable makeover. Back in 2019, it was acquired by two real estate giants – Invesco Real Estate and TMG Partners – for $125 million.

David Schwartz – Ripple’s Chief Technology Officer – shed more detail on the matter, unveiling photos of the new workspace on X (Twitter). Numerous users congratulated the firm for its move, wishing it success in the future.

It remains unclear whether Ripple would continue running some operations at its former office at 315 Montgomery Street, San Francisco.


The Approaching Ripple/SEC Trial
It is worth mentioning that Ripple’s decision to move to new global headquarters comes approximately four months before its grand trial with the US SEC.

The legal battle between the entities started in December 2020 when the regulator sued the blockchain company for allegedly selling more than $1.3 billion worth of XRP as unregistered securities.

The clash was heating in the following years, with a peak occurring in mid-July 2023 when US Federal Judge Analisa Torres ruled that Ripple’s XRP sales from years ago did not constitute an offer of investment contracts.

The magistrates later dismissed the SEC’s wish to appeal the decision and cleared CEO – Brad Garlinghouse – and Executive Chairman – Chris Larsen – of all charges brought by the watchdog.

The trial in April next year is supposed to determine the outcome of the lengthy conflict. A decisive Ripple victory could positively resonate across the entire cryptocurrency sector, whereas an opposite ruling could have a negative impact.

[qualityincolor]

https://cryptopotato.com/important-ripple-xrp-update-four-months-before-the-sec-trial/

[Vulcanized Crawler]

A US Congressional Bill HR 8950 is set for vote January 2024 that will cement cryptocurrencies as commodities and not securities.

All crypto on the blockchain will be regulated as a commodity by the CFTC - this will be signed into US law in early a January when the H.R.8950 - Digital Commodities Consumer Protection Act of 2022 - goes for final vote and presidential signature.



The SEC will get jurisdiction on Securities backed by crypto assets like the Spot ETFs.

Bullrunners.com

[BottomBounce]

$XRP starts fall after bitcoin blackswan on radar

[delerious1]

So what is the latest with XRP and their fight with the SEC....where do things sit at the moment?
❓️Last I saw it looked like things were going Ripple's way

[weedtrader420]

WOO HOOOOOOOOOOO XRP💫🚀 $5 TARGET price

[weedtrader420]

XRP💫⚖️🏋️🫲😮‍💨👍🦨🌳 great news

[W3Research]

XRPUSD and Shiba Inu Coin More News on Jamie "Demon" Dimon. Cheers!

Hundreds of billions of dollars worth of fines have been paid by the four biggest banks in the US as JPMorgan’s chief executive sounds off against digital assets, saying they are for criminals.

According to corporate misconduct data aggregator Violation Tracker, the big four banks of the US – Bank of America, Wells Fargo, Citigroup, and JPMorgan – have paid a staggering $181 billion worth of fines since the year 2000.

The data unveils that Bank of America has paid total of 324 fines worth $87.2 billion since the start of the millennium while Wells Fargo has been fined 261 times for a total of $27.5 billion.

Violation Tracker also reveals that Citigroup was found to be in violation 181 times, paying $26.9 billion worth of fines while JPMorgan has been hit with a total of 272 fines worth $39.3 billion.

The Violation Tracker covers a range of civil and criminal banking offenses including foreign bribery, money laundering, corporate tax evasion, securities violations, accounting fraud, price-fixing, employment discrimination and more.

The new numbers come as JPMorgan CEO Jamie Dimon tells Congress during a recent meeting that crypto assets are tools for bad actors that he would shut down if he could.

As stated by Dimon, per CNBC,

“I’ve always been deeply opposed to crypto. Bitcoin, etc. You pointed out the only true use case for it is criminals – drug traffickers, money laundering, tax avoidance, and that is a use case because it is somewhat anonymous, not fully, and because you can move money instantaneously.

And because it doesn’t go all these systems [that] have built up over many years – know your customer (KYC), sanctions, OFAC (Office of Foreign Asset Control) – they can bypass all of that. If I was the government, I’d close it down.”

Dimon did not provide evidence for his claims that crypto assets are widely used for criminal activity.

Last year, the crypto research firm Chainalysis determined that while 5% of the global gross domestic product is laundered every year in fiat currency, just 0.05% of all crypto transactions involve money laundering.

End Of Line.

[W3Research]

XRPUSD and Shiba Inu Coin More Great Support from Congress! Cheers!

Don't let the SEC, Jamie "Demon" Dimon, Elizabeth "Pocahontas" Warren steal your wealth, enslave you and force you to accept the Biblical Mark Of The Beast with their evil, vile and wicked USA CBDC!

A U.S. lawmaker has slammed the Securities and Exchange Commission (SEC) for having a deliberate policy preference to provide less clarity to the crypto market. “The SEC is not adhering to the law. That’s why it keeps losing in court,” said Congressman Tom Emmer as he questioned SEC Chair Gary Gensler’s personal agenda.

‘SEC Has a Deliberate Policy Preference to Provide Less Clarity to the Marketplace’

House Majority Whip Tom Emmer (R-MN) slammed the U.S. Securities and Exchange Commission (SEC)’s approach to the regulation of the crypto industry on Tuesday at a hearing of the House Subcommittee on Digital Assets, Financial Technology and Inclusion titled “Fostering Financial Innovation: How Agencies Can Leverage Technology to Shape the Future of Financial Services.”

The lawmaker posted on social media platform X after the hearing:

If it wasn’t obvious before, it’s certainly obvious now: The SEC has a deliberate policy preference to provide LESS clarity to the marketplace instead of more clarity. Complete disservice to our great capital markets.

Among the witnesses who testified in the congressional hearing was Valerie A. Szczepanik, director of the SEC’s Strategic Hub for Innovation and Financial Technology (Finhub).

Referencing a speech titled “Digital Asset Transactions: When Howey Met Gary” given by William Hinman in June 2018 when he was the director of the Division of Corporation Finance at the SEC, Emmer explained that in this speech, Hinman discussed “how tokens can morph from securities to non-securities and he stated that ether is not a security.”

Citing Szczepanik’s review of Hinman’s draft speech, the congressman quoted her as saying at the time that providing “less detail in a speech is better because the concept of a token morphing from a security to a non-security was a new concept and would generate a lot of discussions.” Emmer emphasized:

You thought the SEC should give less clarity to the market rather than more … When the industry complains about a lack of clarity, I see this as a deliberate policy reference. Does the current SEC chair share that view?

Szczepanik declined to comment on the current chair’s view.

Congressman Emmer proceeded to ask Szczepanik whether Finhub has “issued any guidance since Chair Gensler took office to clarify how security laws apply to crypto.” After the Finhub director failed to provide an answer, Emmer said: “I take the answer is no, because it is no. It seems to be rulemaking through enforcement actions.”

Concerning Hinman’s speech stating that ether is not security, Emmer asked Szczepanik: “Is that your view today?” However, she declined to answer, stating that she couldn’t comment on a particular asset. The congressman concluded:

The SEC is not adhering to the law. That’s why it keeps losing in court. Does the chairman of the SEC tell you to adopt positions to further a specific goal, his own personal goal rather than allegiance to the law?

End Of Line.

[Bizdevguy]

JUST IN: The Depository Trust & Clearing Corporation (DTCC) has just listed Fidelity's spot Bitcoin ETF is now with the ticker $FBTC.

[delerious1]

"The bill will now go to the House for a vote. If passed, it must also pass in the Senate before returning for final congressional and presidential approval."

https://cointelegraph.com/news/blockchain-promoting-bill-passes-us-house-committee

[delerious1]

The way the House works I hope they get on it soon

[qualityincolor]

Was just reading about this. Bullish, big time bullish!!

[Hole shot King]

Boom is on the way

🚨 BREAKING:

US PASSES BILL TO PROMOTE MASS BLOCKCHAIN ADOPTION!

GUYS WE ARE ON THE VERGE OF A WHOLE NEW ERA OF PAYMENTS 💥 #XRP https://t.co/C4vc4cT1WL pic.twitter.com/hD6yCt0XGM

— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) December 7, 2023

[3antar]

He is probably loading...

[KC01905]

Supply is a huge factor. Uuugggeee.

[W3Research]

$XRPUSD and Shiba Inu Coin This person is a true Threat To Democracy!

JP Morgan CEO Jamie Dimon Says Feds Should 'Close Down' Bitcoin.

JP Morgan CEO has again slammed crypto and Bitcoin, saying he'd "close it down" if he were in charge of making laws.

By Mat Di Salvo

Dec 6, 2023

JP Morgan Chase CEO Jamie Dimon has again slammed crypto—today saying that he’d “close it down” if he were the U.S. government.

“The true use case for it [crypto] is criminals, drug traffickers, money laundering, tax avoidance,” Dimon told lawmakers during a Senate Banking Committee hearing Wednesday.

“If I was the government, I’d close it down,” he added. “I’ve always been opposed to crypto, Bitcoin, etcetera.”

Dimon’s comments came after Elizabeth Warren (D-Mass.) asked the billionaire bank boss why “terrorists, drug traffickers and rogue nations” like crypto.

He went on to add that you can move money “almost instantaneously” with digital assets and that it was “somewhat anonymous.”

Dimon’s latest comments are not the first time he’s criticized Bitcoin and other cryptocurrencies: he famously called Bitcoin a “fraud” back in 2017, and criticized his own daughter because she bought a bit of the biggest cryptocurrency by market cap.

The chief of the world’s biggest bank also once questioned whether Bitcoin would really have its supply capped at 21 million coins, saying: “Maybe it’s gonna get to 21 million and Satoshi’s picture is gonna come up and laugh at you all.”

Despite criticizing Bitcoin and decentralized cryptocurrencies, Dimon has praised its underlying technology and his bank has used blockchain for projects such as its JPM Coin, a digital coin that runs on a permissioned blockchain (a distributed ledger that is not publicly accessible like Ethereum or Bitcoin.)

The crypto industry’s X (formerly Twitter) users were quick to point this out—especially highlighting the amount of times JP Morgan and other banks have been fined by regulators for breaking rules.

Crypto advocates often push back at the notion that Bitcoin or other digital assets are disproportionately used by criminals, highlighting the fact that Bitcoin, in particular, operates on a transparent ledger and transactions can very easily be tracked.

Some government officials in the past, notably former CIA Director Michael Morell, have suggested that Bitcoin is actually a “boon” for law enforcement, considering how transparent it really is.

End Of Line.

[delerious1]

Elon Musk Confirms ‘Progress’ On Wild X Crypto Rumors—Triggering A Dogecoin Price Surge To Rival Bitcoin, Ethereum And XRP
Billy Bambrough
Senior Contributor

Dec 6, 2023,09:15am EST
BitcoinBTC 0.0% and cryptocurrencies are suddenly soaring as the market braces for a Wall Street earthquake that could cause price chaos.



The bitcoin price has rocketed to $45,000 per bitcoin this week, more than doubling through 2023, and boosting the price of ethereum, XPR and even the likes of dogecoin as traders bet a new bull run could have already begun.

Now, TeslaTSLA +1.6% billionaire Elon Musk has said he's making "progress" in adding payments to his social media platform X that could include bitcoin and crypto—something that will set X up for a showdown with growing crypto giant PayPal.





Bitcoin's historical halving that's expected to cause crypto price chaos is just around the corner! Sign up now for the free CryptoCodex—A daily newsletter for traders, investors and the crypto-curious that will keep you ahead of the market

MORE FROM FORBES
Bitcoin's 'Worst Kept Secret' Is About To Have A 'Huge' Price Impact
By Billy Bambrough
Elon Musk, Tesla, X, Twitter, bitcoin, bitcoin price, ethereum, ethereum price, XRP, XRP price, dogecoin, dogecoin price, image
Tesla billionaire Elon Musk has flirted with the idea of adding crypto to his social media company .


X, rebranded from Twitter by Musk earlier this year, has been acquiring money transmitter licenses across the U.S., a process that has to be done state-by-state.

"Progress," Musk posted to X, responding to an X fan account that posted a link to a report by The Street claiming X has been granted 10 licenses to move money between U.S. states and calling it a "move toward crypto payments."

In October, a leaked "all-hands" virtual meeting at X revealed Musk's plans to grow X's financial services arm, with prominent voices in the bitcoin and crypto space calling the plan something that could spur a "critical mass" of crypto adoption.

Musk, who has previously said he wants to turn X into an "updated version" of PayPal, has helped the price of bitcoin and other major cryptocurrencies, including the meme-based dogecoin, surge over the last few years as he teases crypto integration and adoption.

The dogecoin price, a bitcoin-inspired cryptocurrency that Musk was once jokingly named the "CEO" of, has surged almost 20% over the last 24 hours, following the price of bitcoin, ethereum and XRP higher ahead of a widely expected Wall Street bombshell.

PayPal has this year leaned into bitcoin and crypto, launching its own dollar-pegged stablecoin cryptocurrency after rolling out support for bitcoin, ethereum, litecoin and bitcoin cash in late 2020. PayPal's original support for bitcoin and crypto helped kick off the 2021 bitcoin price bull run that catapulted bitcoin to almost $70,000.




Elon Musk, Tesla, X, Twitter, bitcoin, bitcoin price, ethereum, ethereum price, XRP, XRP price, dogecoin, dogecoin price, chart
The dogecoin price has held onto many of the massive gains it made in 2021 despite crashing back ... [+]FORBES DIGITAL ASSETS
In August, Musk issued a stringent denial that X will launch a cryptocurrency of its own to rival bitcoin, ethereum, XRP or dogecoin, sparking speculation the platform could integrate existing cryptocurrencies.

Musk has said he personally holds bitcoin, ethereum and dogecoin while his electric car company Tesla holds almost $300 million worth of bitcoin and accepts the meme-based bitcoin rival dogecoin as payment for merchandise.

Before buying Twitter last year for an eye-watering $44 billion, Musk considered creating "a new social-media platform based on the blockchain" that "could have a payment system using dogecoin, the semi-serious cryptocurrency whose development he had been quietly funding," Musk biographer Walter Isaacson wrote in an excerpt of his new book, titled simply Elon Musk, published in the Wall Street Journal.

[Vulcanized Crawler]

getting a lil rise outta this explosive mama

[Weed farmer]

15-50$ top here coming sooooon

[WolfOfGrnStreet]

Now you see the truth. As long as a government official has their tiny dick in the equation the xrp doesn’t move. You make America Great Again. I betcha XRP moves exponentially!

[Brokemillwright]

Hmmmmm still stand true! Cute the violin music

[WolfOfGrnStreet]

Nailed it. But Joe Biden is the President. We shall see

[Gifton]

How is it possible for every other coin to move, except XRP n XLM... Who's holding these 2 down, n why?

[qualityincolor]

Once bitcoin ETF's are approved.. I'm betting gains from that catalyst will pour over into XRP... long and strong folks

[dshade]

The lunc moves are popping up and volume continues

[GOLFTEES]

LOOKING GOOD

[qualityincolor]

Keep going 💪

[delerious1]

🚀Crypto going nuts tonight, not sure what's driving it....Bitcoin hitting new highs XRP doing okay too

[W3Research]

$XRPUSD and Shiba Inu Coin More Great Legal News! Cheers!

Deaton Reacts as Court Threatens to Sanction SEC For Lying

Popular legal expert John Deaton sheds light on how courts have continued to call out the Securities and Exchange Commission for lying. 

XRP holders’ attorney John Deaton has taken to the X platform to react to a federal judge threatening to sanction the SEC’s lawyers involved in the case against crypto project Debt Box. 

Court Threatens Sanction Against SEC Lawyers

On November 30, Judge Robert Shelby warned SEC lawyers in the Debt Box lawsuit that he may sanction them for convincing a court to freeze the company’s assets under false and misleading pretenses. 

In an attempt to secure a temporary restraining order, the SEC claimed that Debt Box was closing its accounts and moving its funds out of the United States. 

However, the SEC refused to mention that Debt Box’s accounts were being closed by banks. The regulator also failed to note that the funds were moved to a credit union and not out of the United States. Following the SEC’s claim, a federal court froze the company’s bank accounts in August. 

With Debt Box proving that the SEC lied to obtain the temporary restraining order, the judge dissolved the order. 

Commenting on the development, Judge Shelby pointed out that the SEC’s misrepresentation caused Debt Box irreparable harm and undermined the integrity of the case’s proceedings. Hence, the court threatened to sanction the SEC’s lawyers in the case. 

Courts Call Out SEC For Lying  

Reacting, Attorney Deaton said the SEC has been called out for lying by every court that has dealt with it in the past three years. Per Deaton, anyone surprised that a federal judge threatened to sanction the SEC for lying has not been attentive in the past three years

End Of Line.

[Vulcanized Crawler]

it was all due to nixon's payback

[GOLFTEES]

LOOKING GOOD

[WolfOfGrnStreet]

Flip the switch already. BIDEN, obama and the bushes fucked this dollar up. Cheers

[Alpha611]

It's a win win for security and this is why I still like the price.
Being that I strongly believe they not only disagree with the courts.
But are also HEAVELY INVESTED into XRP it's self. JMHO.

[Alpha611]

Still like her for the price. But the more they pump this bitch!
The happier I am I left her. GL

[W3Research]

$XRPUSD and Shiba Inu Coin More Huge Legal News! Cheers!

Judge scolds SEC for apparent deception in crypto case, threatens to sanction agency.

The SEC is suing crypto firm DEBT Box for allegedly defrauding investors out of nearly $50 million.

BY 

LEO SCHWARTZ 

 AND  

JEFF JOHN ROBERTS

December 01, 2023 4:47 PM EST

SEC Chair Gary Gensler has engaged in an aggressive campaign of enforcement actions against crypto firms. Tom Williams—Getty Images

A federal judge has rebuked the Securities and Exchange Commission over its treatment of a crypto firm, expressing concern the agency had made “materially false and misleading representations” in order to freeze millions of dollars in assets belonging to the project.

The case, filed in Utah federal court, concerns a firm called Digital Licensing Inc., or DEBT Box. In its complaint, filed this summer, the SEC alleged the project had defrauded investors out of nearly $50 million by selling unregistered securities called “node licenses.”

As part of the initial process, the SEC successfully obtained a temporary restraining order and asset seizure through a so-called ex parte application—meaning the crypto firm was not informed of the proceedings and was not able to challenge them in court at the time.

These types of one-sided proceedings are uncommon and typically take place when a government agency fears that notifying the defendant will result in their destroying evidence or whisking assets overseas. Meanwhile, a temporary restraining order requires a party to show a high likelihood of “irreparable harm”—a high bar to clear.

?

In his Thursday order, U.S. District Judge Robert Shelby explained he had agreed to grant the SEC’s request because the agency’s lawyer, Michael Welsh, had said the crypto company was actively closing bank accounts—including 33 in the last 48 hours—as part of a bid to move the firm to Abu Dhabi and beyond the reach of U.S. regulators.

This turned out to be untrue, however. In his order, Shelby argued that some of the SEC’s arguments were “entirely without merit and misstate the record.” He wrote that subsequent legal proceedings revealed that no bank accounts had been closed during the 48-hour window and that the company had already transferred much of its operations months before. He also found that it was banks, not the company, that had closed certain accounts and that one alleged overseas transfer of $720,000 the SEC had used to justify the ex parte seizure had actually been a domestic transfer.

Shelby wrote that he was “troubled” by the SEC attorney’s misrepresentation of the account closures because there was another attorney on-screen, as well as two investigative staffers off-screen, who did not clarify or correct the attorney’s statement, nor was it addressed in later filings.

The judge also argued that the SEC has accused the crypto company of blocking investigators from viewing its social media sites, saying the agency had not shown any evidence to suggest the firm had even known about any investigation.

Given all this, Shelby concluded that the SEC had possibly deceived the court in its description of the facts used to justify the earlier orders.

“The court is concerned the Commission made materially false and misleading representations that violated Rule 11(b) and undermined the integrity of the proceedings,” wrote Shelby, citing a federal court rule that says written facts submitted to a judge must be supported by evidence.

SEC faces sanctions

The document issued by Shelby came in the form of a “show cause order”—a request that in this case demands the SEC provide reasons why the Utah court should not punish the agency for its behavior. While such orders are not uncommon, they are typically directed at private parties and very rarely at government agencies.

The order on Thursday concludes with a list of questions asking the SEC to respond to specific examples of apparent falsehoods, including the agency’s claims made about the closed bank accounts and the social media blocking.

While the tone of Shelby’s order is restrained, the judge appears to have been angered by the fact that the SEC submitted the apparent misstatements in an ex parte context and for a temporary restraining order—legal processes that courts are mostly reluctant to grant as they deprive defendants of due process. In his filing, the judge states that he is “concerned” the SEC “undermined the integrity of the proceedings.”

The federal rule cited by Shelby doesn’t provide specific sanctions for given violations but rather proposes a range of measures from a financial penalty to a directive that “suffices to deter repetition of the conduct.”

End Of Line.

[Vulcanized Crawler]

yt is pumping the crappola outta xrp...
i like xrp, but, with all the big pumping going on makes me suspicious to the max. sec n' xrp may finalize all n' everything today. hope so. im not fond of government unelected hasbeens screwing up what creative minds and establishment criminals have wrought. survival of the fit ...aint that the way? i's got more an bigger guns aimed at you than you at me. as the judge said to both sides in the case ...'' may the best lawyer win''.

[ap17]

Correct, and youtube has new clickbaits uploaded hourly touting 4 figure and up prices for XRP. If I had 1/2 cent for each youtube, I'd be rich.

[Alpha611]

This token has more predictions & news then it's actual movements! lol

[ap17]

Almost as bad as that .48 short...........ALMOST.
Better listen to Hibbs more often.

[Brokemillwright]

But but but...... Moonboyies posted 🚀🚀🚀🚀🚀. Guess they spent on their money and couldn't afford da fuel

[dshade]

Adding all the X's

[ap17]

Exactly, and he's been wrong WAY more than right on multiple crypto boards. Mostly acting as a "Short Schill"

[qualityincolor]

I'm LONG... i've stated it from the beginning, so updating you with declines is completely irrelevant. I've been in since .26 cents and plan to never sell. I will borrow against my crypto to buy other assets. Flip, short, buy, swing, do whatever, doesn't matter to me. You pointed out, no one is right all the time, but so far, I've been right about my approach being long. ✌️

[Brokemillwright]

I've never claimed to be right every time. Nobody can call every top or bottom, market will do what it'll do. It has hit it's head on rejection and is rolling over. Wasn't this headed to to moon? Can't the same be said for the pumpers being constantly wrong and being mods on the boards deleting messages in a last ditch effort to try controlling sentiment lol. Those big soft rolls with HURT longs. Keep us updated with your declines please