Ripple – Marketiva.mobi https://marketiva.mobi Your Bitcoin News Portal Tue, 20 Sep 2022 14:23:24 +0000 en-US hourly 1 https://wordpress.org/?v=6.0.2 https://marketiva.mobi/wp-content/uploads/2020/10/cropped-bitcoint-logo-1-32x32.jpg Ripple – Marketiva.mobi https://marketiva.mobi 32 32 Ripple Attacks SEC Citing Lack of ‘Investment contract’ Granting Investors Rights https://marketiva.mobi/2022/09/20/ripple-attacks-sec-citing-lack-of-investment-contract-granting-investors-rights/ https://marketiva.mobi/2022/09/20/ripple-attacks-sec-citing-lack-of-investment-contract-granting-investors-rights/#respond Tue, 20 Sep 2022 14:23:24 +0000 https://cryptopotato.com/?p=215393 Ripple has filed a motion seeking dismissal of the suit ahead of the trial in federal court in Manhattan. The blockchain firm contended that the crypto-asset at the center of the ongoing legal battle – XRP – cannot be considered a security.

In a recent filing over the weekend, Ripple argued that there was no “investment contract” that granted investors rights or required the issuer to act in their interests.

Ripple-SEC Nears The D-Day

As per the report, Ripple further alleged that the United States Securities and Exchange Commission’s (SEC) “untethered position” could deem the sale of all types of ordinary assets, including diamonds, gold, soybeans, cars, and art, into sales of securities. Ripple added that the agency was not granted such authority by Congress.

In the filing, the San Francisco-based firm mentioned that the SEC’s claim would fail and cited the lack of documents granting post-sale rights to recipients as against Ripple or imposed post-sale obligations on the firm to act for the benefit of those recipients.

In a statement, Ripple General Counsel Stuart Alderoty said,

“The filings show that the SEC is acting outside their legal limits. The SEC is not looking to apply the law – they are looking to remake the law in the hopes that it can impermissibly expand their jurisdiction.”

Call For Immediate Ruling

The SEC sued Ripple Labs, CEO Brad Garlinghouse, and Chairman Chris Larsen in December 2020. The agency alleged that all the above-mentioned entities connected to Ripple secured more than $1.3 billion by selling XRP in “unregistered securities” transactions.

The watchdog stayed firm in its stance and said that “Ripple funded its business by touting XRP’s profit potential, selling and distributing XRP to public investors while keeping a large amount of XRP for itself.”

The blockchain firm, on the other hand, has continued to maintain that the sales of the crypto-asset and trading did not satisfy the Howey Test, a US Supreme Court case for establishing if a transaction qualifies as a security.

Both Ripple Labs as well as the SEC have filed separate motions calling in the US District Court Southern District of New York to make an immediate ruling on whether the XRP sales violated the country’s securities laws.

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Ripple General Counsel Responds to SEC Chairman Gensler’s ‘Kennedy and Crypto’ Speech https://marketiva.mobi/2022/09/09/ripple-general-counsel-responds-to-sec-chairman-genslers-kennedy-and-crypto-speech/ https://marketiva.mobi/2022/09/09/ripple-general-counsel-responds-to-sec-chairman-genslers-kennedy-and-crypto-speech/#respond Fri, 09 Sep 2022 18:41:33 +0000 https://dailyhodl.com/?p=217043 The chairman of the U.S. Securities and Exchange Commission (SEC) is raising crypto eyebrows with a speech delivered before the non-profit learning organization Practicing Law Institute. In his “Kennedy and Crypto” speech, Gary Gensler hints that the SEC will use existing securities laws to regulate crypto despite anticipation and calls for regulatory frameworks specific to […]]]>

The chairman of the U.S. Securities and Exchange Commission (SEC) is raising crypto eyebrows with a speech delivered before the non-profit learning organization Practicing Law Institute.

In his “Kennedy and Crypto” speech, Gary Gensler hints that the SEC will use existing securities laws to regulate crypto despite anticipation and calls for regulatory frameworks specific to digital assets.

“Investors, issuers, and our overall economy have benefited from those securities laws and the SEC’s engagement for nearly 90 years. That oversight should not change just because the issuance and trading of certain securities is based on a new technology.”

Gensler also quotes the first SEC chairman, Joseph Kennedy, as he urges crypto and traditional finance companies to comply with securities laws.

“For those who are starting up in this space now – either from traditional finance or as crypto-native companies – work with us on compliance from the beginning. It’s far less costly to do so from the outset.

As Joseph Kennedy put it, ‘No honest business need fear the SEC.’”

In response, Ripple general counsel Stuart Alderoty commented that the SEC’s approach to regulating crypto assets is akin to political power grabbing.

“Make no mistake, this is a political power grab (it’s not the law and it’s not good policy) and it’s at your expense.”

He also used another quote from Kennedy to convey his views.

“Another famous quote from Joseph Kennedy: ‘I wanted power. I thought money would give me power and so I made money, only to discover that it was politics–not money–that really gave a man power.’” 

The SEC filed a suit against Ripple in 2020 over claims that the San Francisco-based company sold unregistered securities.  As the legal battle continues, pro-Ripple lawyer Jeremy Hogan says that the SEC should give clarity on which crypto assets should be counted as securities.

In an article written for the Wall Street Journal, former SEC chair Jay Clayton also says that the US should establish regulatory clarity in the crypto space.

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Ripple CEO Brad Garlinghouse Denies Explosive Claims, Kyle Roche Breaks Silence https://marketiva.mobi/2022/08/29/ripple-ceo-brad-garlinghouse-denies-explosive-claims-kyle-roche-breaks-silence/ https://marketiva.mobi/2022/08/29/ripple-ceo-brad-garlinghouse-denies-explosive-claims-kyle-roche-breaks-silence/#respond Mon, 29 Aug 2022 22:13:31 +0000 https://cryptopotato.com/?p=212040 After Ava Labs, Ripple’s Brad Garlinghouse denied allegations, while Kyle Roche claimed that the stint was a deliberate scheme to intoxicate and exploit him.

Crypto Leaks, which happens to be an online publication exposing corruption and fraud in the crypto ecosystem, made some astonishing claims about Ava Labs forming a secret pact with Kyle Roche, the founding partner of the law firm Roche Freedman. The same report even dragged Ripple CEO Brad Garlinghouse funded a law firm to target its rivals.

Roche was allegedly working with Boies Schiller Flexner, a NY-based firm that was representing the blockchain company in its lawsuit against the United States Securities and Exchange Commission (SEC). The report claimed that Roche approached Garlinghouse to invest in a law firm that would sue competitors. While Kyle said that the CEO agreed to his deal, the allegations were vehemently denied by the exec.

Garlinghouse took Twitter to clarify:

“Can’t comment on the validity of the slew of allegations in here, but I can unequivocally say that I have never met or spoken to (much less invested in) Kyle Roche.”

Exposing Ava Labs

Last week, Crypto Leaks claimed in a report that the core developer of the Avalanche blockchain – Ava Labs – came into a “secret” agreement in September 2019 with lawyer Kyle Roche. Under the pact, the firm granted Rocke 1% of the supply of AVAX tokens, in addition to a similar amount of equity, in exchange for targeting its rival in the crypto industry.

A series of covertly recorded videos, with no attribution, were posted by the platform that showed Roche detailing his relationship with Ava Labs’ top execs. While revealing that he was the first person after VC firm Andreesen Horowitz to receive Ava Labs’ equity, Roche said:

“We did a deal where I agreed to provide legal services in exchange for a certain percentage of the token supply.”

The pack was meant to steer the regulator’s attention away from Avalanche by bringing targetting other players. As per one of the videos publicly posted by Crypto Leaks, Roche was heard saying that he thinks “litigation is an underused tool by everyone.”

He also describes himself as Ava Labs’ in-house crypto expert even as his LinkedIn profile mentions no connection with the company or the Avalanche project. Roche also claims Ava Labs has not been embroiled in any legal disputes because he has made sure the SEC has “other magnets to go after.”

Kyle Roche’s Response

After the reports blew up, Roche posted a response to address what he claims to be “unsourced false statements and illegally obtained, highly edited video clips that are not presented with accurate context.”

Deeming the statements in the video false, the trial attorney said that the clips were obtained through deceptive means, including a deliberate scheme to intoxicate and then exploit him, using leading questions.

“We vigorously deny any allegations of impropriety. Our work with Ava Labs is focused on defense side cases typical of any large corporation. Ava Labs has had no input, control, or insight into any of our firm’s plaintiff-side class action cases and we have never filed a class action on their behalf or at their request.”

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Price analysis 8/26: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, MATIC https://marketiva.mobi/2022/08/26/price-analysis-8-26-btc-eth-bnb-xrp-ada-sol-doge-dot-shib-matic/ https://marketiva.mobi/2022/08/26/price-analysis-8-26-btc-eth-bnb-xrp-ada-sol-doge-dot-shib-matic/#respond Fri, 26 Aug 2022 22:17:31 +0000 https://www.btcethereum.com/blog/2022/08/26/price-analysis-8-26-btc-eth-bnb-xrp-ada-sol-doge-dot-shib-matic/ Bitcoin and altcoins followed stocks lower after hawkish statements from the Federal Reserve confirmed that the central bank remains serious about reducing inflation. Federal Reserve Chairman Jerome Powell warned that the central bank will continue to use the “tools forcefully” to bring down inflation, which is close to its highest level in 40 years. He […]]]>

price-analysis-8/26:-btc,-eth,-bnb,-xrp,-ada,-sol,-doge,-dot,-shib,-matic

Bitcoin and altcoins followed stocks lower after hawkish statements from the Federal Reserve confirmed that the central bank remains serious about reducing inflation.

Federal Reserve Chairman Jerome Powell warned that the central bank will continue to use the “tools forcefully” to bring down inflation, which is close to its highest level in 40 years. He cautioned that the restrictive policy may remain for some time and warned that it could “bring some pain to households and businesses.”

The United States equities markets reacted negatively to Powell’s comments with the Dow Jones Industrial Average dropping more than 600 points. The cryptocurrency markets also witnessed sharp selling with Bitcoin (BTC) and most altcoins threatening to break below their immediate support levels.

Daily cryptocurrency market performance. Source: Coin360

Along with a not-so-supportive macro environment, Bitcoin’s historical data for September also presents a negative picture. According to CoinGlass data, Bitcoin has witnessed an average decline of 6% in September and barring 2015 and 2016, the month has produced negative returns for investors between 2013 and 2021.

Could Bitcoin and major altcoins remain weak in the near term? Let’s study the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

Bitcoin’s shallow rebound off the support line of the ascending channel indicated that bulls are cautious at higher levels. The downsloping 20-day exponential moving average (EMA) ($22,249) and the relative strength index (RSI) in the negative territory, indicate that bears have the upper hand.

BTC/USDT daily chart. Source: TradingView

Strong selling has pulled the price below the ascending channel on Aug. 26. If bears sustain the price below $20,762, the selling could intensify and the BTC/USDT pair could drop to $18,900. This level may again act as a strong support but if it breaks, the decline could extend to the June 18 intraday low at $17,622.

This negative view will be invalidated in the near term if the price turns up from the current level and breaks above the 50-day simple moving average (SMA) ($22,414). Such a move will indicate that lower levels continue to attract buyers. The pair could then attempt a rally to the resistance line of the channel.

ETH/USDT

Buyers could not push Ether (ETH) above the 20-day EMA ($1,697) on Aug. 25, indicating that bears are defending this level with vigor.

ETH/USDT daily chart. Source: TradingView

The selling picked up momentum and the bears have pulled the price below the 50-day SMA ($1,588). A close below this support could sink the ETH/USDT pair to $1,500. If the price slips below this crucial support, the pair will complete a bearish head and shoulders pattern. The target objective of this setup is $1,050.

Contrary to this assumption, if the price rebounds off the $1,500 support, the bulls will again attempt to clear the overhead hurdle at $1,700. If they succeed, it will suggest that the pair could rise toward the overhead resistance at $2,000.

BNB/USDT

The bulls pushed BNB above the 20-day EMA ($300) on Aug. 25 but the long wick on the candlestick suggests that bears are selling at higher levels.

BNB/USDT daily chart. Source: TradingView

The price has turned down on Aug. 26 and the bears are attempting to sink the price below the immediate support at $275. If they succeed, the BNB/USDT pair could complete a bearish head and shoulders pattern. That could result in a decline to $240 and then to the pattern target at $212.

Conversely, if the price turns up and breaks above $308, it could catch the aggressive bears off guard. The pair could then rally to the overhead resistance of $338. If bulls clear this hurdle, the pair will complete a bullish inverse head and shoulders pattern.

XRP/USDT

The bulls pushed Ripple (XRP) above the moving averages on Aug. 26 but the long wick on the candlestick suggests strong selling at higher levels.

XRP/USDT daily chart. Source: TradingView

The price turned down sharply and the bears are attempting to sink the XRP/USDT pair below the immediate support at $0.33. If they succeed, the next stop could be the critical support at $0.30. A break and close below this level could indicate the resumption of the downtrend.

Alternatively, if the price rebounds off $0.30, it will suggest that bulls continue to buy at this level. That could increase the possibility that the pair may remain stuck between $0.30 and $0.39 for some more time.

ADA/USDT

Cardano’s (ADA) recovery turned down sharply from the 20-day EMA ($0.49) on Aug. 26, suggesting that the higher levels continue to attract strong selling by the bears.

ADA/USDT daily chart. Source: TradingView

The price could reach the immediate support at $0.43 and if that level also gives way, the next stop could be the crucial level at $0.40. The bulls successfully defended this support on two previous occasions; hence, the level may again attract buying.

If the price rebounds off the current level or $0.40, the bulls will again try to clear the overhead hurdle at the moving averages. If they manage to do that, the ADA/USDT pair could rally to the downtrend line where the bears may mount a strong defense.

SOL/USDT

Solana (SOL) has been gradually declining toward the strong support at $32, which suggests a lack of demand at higher levels.

SOL/USDT daily chart. Source: TradingView

The 20-day EMA ($38) is sloping down and the RSI is in the negative territory, indicating advantage to bears. If the $32 support collapses, the SOL/USDT pair could drop to the vital support at $26. This is an important level to keep an eye on because a break below it could signal the resumption of the downtrend.

Contrary to this assumption, if the price rebounds off the support at $32, it will suggest that bulls are buying the dips to this level. The buyers will have to push the price above the 50-day SMA ($39) to indicate that the range-bound action between $32 and $48 may continue for a few more days.

DOGE/USDT

Dogecoin (DOGE) marginally rose above the 20-day EMA ($0.07) on Aug. 25 but the bulls could not sustain the higher levels. This suggests that bears are defending the level aggressively.

DOGE/USDT daily chart. Source: TradingView

Strong selling on Aug. 26 pulled the price below the trendline of the ascending triangle pattern. If the price sustains below the triangle, it will invalidate the bullish setup. The DOGE/USDT pair could then decline to $0.06 and later to $0.05.

Alternatively, if the price rebounds off the current level, the buyers will again attempt to clear the overhead hurdle at the 20-day EMA. If they succeed, the pair could rally to $0.08 and thereafter to $0.09.

Related: XRP price pumps and dumps amid mysterious $51M whale transfers — What’s next?

DOT/USDT

The bulls could not push Polkadot (DOT) above the 50-day SMA ($7.82) in the past few days, indicating that bears continue to sell on minor rallies.

DOT/USDT daily chart. Source: TradingView

The downsloping 20-day EMA ($7.93) and the RSI in the negative territory indicate that bears have a slight edge. The negative momentum could pick up if bears sink the price below the strong support at $7. If that happens, the DOT/USDT pair could decline to the crucial support at $6.

Alternatively, if the price turns up from the current level or $7 and rises above the moving averages, the pair could attempt a rally to $9.17 and then to the overhead resistance at $10.

SHIB/USDT

Shiba Inu’s (SHIB) volatility picked up and the bulls pushed the price above the overhead resistance at $0.000014 on 25 August. However, the long wick on the day’s candlestick suggests that bears continue to sell on rallies.

SHIB/USDT daily chart. Source: TradingView

The sellers are currently attempting to sustain the price below the 20-day EMA ($0.000013). If they succeed, the SHIB/USDT pair could drop to the next support at $0.000012. This is an important level for the bulls to defend because if it cracks, the decline could extend to $0.000010.

To invalidate this negative view, the buyers will have to push and sustain the price above $0.000014. If they manage to do that, the pair could rally to the stiff overhead resistance at $0.000018.

MATIC/USDT

Polygon’s (MATIC) rebound off the strong support at $0.75 is facing resistance near the 20-day EMA ($0.85). This suggests that the sentiment remains negative and bears are selling on rallies.

MATIC/USDT daily chart. Source: TradingView

The sellers will make an attempt to sink the price below the strong support at $0.75. If they succeed, the MATIC/USDT pair could decline to $0.63. The bulls may mount a strong defense at this level but if the support cracks, the next stop could be $0.52.

This negative view could be invalidated in the near term if the price turns up from the current level and breaks above the 20-day EMA. If that happens, the pair could attempt a rally to the stiff overhead resistance of $1.05.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

The post Price analysis 8/26: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, MATIC appeared first on BTC Ethereum Crypto Currency Blog.

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Kaiko Report Shows Latam Harnessing Crypto Mostly for ‘Real World’ Use Cases https://marketiva.mobi/2022/08/19/kaiko-report-shows-latam-harnessing-crypto-mostly-for-real-world-use-cases/ https://marketiva.mobi/2022/08/19/kaiko-report-shows-latam-harnessing-crypto-mostly-for-real-world-use-cases/#respond Fri, 19 Aug 2022 08:30:14 +0000 https://news.bitcoin.com/?p=542586 The latest data debrief issued by Kaiko, a provider of digital assets market data, has found that while there is retail movement in Latam regarding crypto assets, most liquidity is directed to “real world” use cases. Among these activities are remittances, stablecoin-based yield generating investment options, and also payments, with Bitso and Mercado Bitcoin being […]]]>

kaiko latam

The latest data debrief issued by Kaiko, a provider of digital assets market data, has found that while there is retail movement in Latam regarding crypto assets, most liquidity is directed to “real world” use cases. Among these activities are remittances, stablecoin-based yield generating investment options, and also payments, with Bitso and Mercado Bitcoin being the leaders in volumes traded in the area.

Latam Focuses on Crypto Differently, According to Kaiko

Much has been said about the uses that Latam countries are giving to crypto assets, many mentioning these are a lifeline in the fight against inflation and devaluation. A new data report issued by Kaiko, a cryptocurrency asset market data provider, has found that a significant part of the volumes moved in the area correspond to real-world applications of crypto, rather than just in retail trading.

Most of the volumes traded are concentrated in just two exchanges. Mexico-based Bitso, and Brazil-based Mercado Bitcoin. Bitso comes first, processing trading volumes of $20 million to $30 million consistently, and peaking at $60 million in one session in June. On the other hand, Mercado Bitcoin processes fewer crypto trades as the exchange is limited to Brazil, with its platform scoring up to $4 million in trading volume daily in the examined period.


Trading Trends and Particularities

Kaiko determined that different from other regions, Latam presents a set of particularities that focus on the use cases mentioned earlier. Bitso, one of the crypto unicorns in the region, bases its activity on the remittance sector, mostly. This is one of the reasons behind the fact that 60% of the volumes traded in the exchange involve XRP.

The exchange established a partnership with Ripple in 2020 to send almost instant remittances between Mexico and the U.S., using Ripple’s on-demand liquidity and several banking partners. This has made Bitso one of the biggest crypto remittance agents in the region, processing more than $1 billion in these operations by June. However, the exchange aims to enter more countries in the area.

Recently, the company expanded to Colombia and announced the launch of its remittance services in the country, using Circle’s USDC as part of this solution. In the same way, Bitso launched stablecoin yield-generating accounts, as part of its strategy to entice customers from countries like Argentina, which is currently battling high levels of inflation and devaluation.

Mercado Bitcoin also recently announced intentions of expanding its services to Mexico, to strengthen its offerings in the region.

What do you think about the information presented in Kaiko’s Latam report? Tell us in the comments section below.

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Vitalik Buterin and Ripple’s CTO Engage in Twitter Spat Over XRP https://marketiva.mobi/2022/08/18/vitalik-buterin-and-ripples-cto-engage-in-twitter-spat-over-xrp/ https://marketiva.mobi/2022/08/18/vitalik-buterin-and-ripples-cto-engage-in-twitter-spat-over-xrp/#respond Thu, 18 Aug 2022 19:44:59 +0000 https://cryptopotato.com/?p=210281 While Ripple execs claim that the company has been unfairly treated by the SEC, Ethereum frontman Vitalik Buterin hasn’t been exactly silent either. In a fresh jibe, the latter accused the former of throwing Ethereum under the bus as “China-controlled.”

The latest feud also started with a discussion of new regulatory changes in Canada with Ontario-based crypto exchanges – Bitbuy and Newton – imposing a 30,000 CAD annual “buy limit” for “restricted coins” for their users to “protect consumers” amid tightened regulations, except for altcoins – Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).

This is when Buterin stepped in and praised the Ethereum community for pushing against regulations that privilege Ether over other legitimate crypto-assets. When Bankless.eth founder, David Hoffman, responded by saying that he wouldn’t have said anything if Ontario exchanges had restricted XRP, Buterin then sneered back, saying,

“XRP already lost their right to protection when they tried to throw us under the bus as “China-controlled imo.”

Ethereum-Ripple Feud

Buterin lambasted Ripple for labeling Bitcoin and Ethereum as controlled by China back in 2020. The founder then said that the blockchain company, currently embroiled in a fight with the SEC, had sunk to “new levels of strangeness.”

Needless to say, the latest anti-XRP comment by Buterin has garnered significant traction that even David Schwartz didn’t hold back. Once again, the Ripple CTO reaffirmed his company’s stance of Bitcoin and Ethereum being securities while comparing miners of the two networks with shareholders of eBay.

“The goverment should punish projects that disagree with our narrative” seems pretty on brand for ETH. Also, I do think it’s perfectly fair to analogize miners in PoW systems to stockholders in companies. Just as eBay’s stockholders earn from the residual friction between buyers and sellers that eBay does not remove, so do miners in ETH and BTC.”

Schwartz then proceeded to ask Buterin if the debate should be settled by the market or the government.

Ripple Lawsuit

With no regulatory clarity in sight, the status of crypto-assets has been a bone of contention for years. The ongoing US Securities and Exchange Commission (SEC) vs. Ripple case is expected to provide a much-needed breakthrough for the industry.

The regulatory agency alleged that Ripple conducted illegal security offering through sales of XRP. However, the company claimed several victories in its continuing legal battle while the SEC has been at the receiving end of significant mockery. This may potentially indicate that a verdict may be nearer.

The post Vitalik Buterin and Ripple’s CTO Engage in Twitter Spat Over XRP appeared first on CryptoPotato.

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Celsius Approved to Sell Mined Bitcoin, Customer That Lost 50,000 USDC Insists Her Regulated Stablecoins Should Be Treated Differently https://marketiva.mobi/2022/08/17/celsius-approved-to-sell-mined-bitcoin-customer-that-lost-50000-usdc-insists-her-regulated-stablecoins-should-be-treated-differently/ https://marketiva.mobi/2022/08/17/celsius-approved-to-sell-mined-bitcoin-customer-that-lost-50000-usdc-insists-her-regulated-stablecoins-should-be-treated-differently/#respond Wed, 17 Aug 2022 19:30:44 +0000 https://news.bitcoin.com/?p=542837 On August 16, the crypto lender Celsius Network has been approved by a bankruptcy court judge to sell bitcoin the company previously mined to continue funding specific operations. The following day, the company’s attorney detailed that Celsius has been offered cash injections, but the lawyer did not disclose who offered the funds and how much […]]]>

Celsius Approved to Sell Mined Bitcoin, Customer That Lost 50,000 USDC Insists Her Regulated Stablecoins Should Be Treated Differently

On August 16, the crypto lender Celsius Network has been approved by a bankruptcy court judge to sell bitcoin the company previously mined to continue funding specific operations. The following day, the company’s attorney detailed that Celsius has been offered cash injections, but the lawyer did not disclose who offered the funds and how much was presented.

Celsius Approved to Sell Mined Bitcoin, Lawyer Says Firm Approached With Cash Offers, Company’s Mining Operation Has 58,000 Mining Rigs Deployed

A Southern District of New York court order signed by judge Martin Glenn on Wednesday and filed by courtroom deputy Deanna Anderson explains that Celsius has been granted the opportunity to sell bitcoin the company’s mining operation previously mined. In addition to offering crypto lending services, Celsius operated a bitcoin mining operation.

A court document from the company’s lawyer Joshua Sussberg explains that the crypto lending firm’s mining operations mined $8.7 million worth of bitcoin last month. The document notes that bitcoin sales occurred before the petition date on July 13, 2022, and Sussberg’s letter said Celsius had “approximately 58,000 [mining] rigs deployed.”

Sussberg has also told the court that Celsius has received cash-injection offers but did not mention the interested parties or the amount of funds offered. The news follows Ripple Labs saying the company was interested in learning about Celsius and the crypto lender’s assets. Ripple’s statement stemmed from when the company was asked why it wanted to comment on Celsius’s bankruptcy court filings.

Celsius Customer Alleges That Centre Consitorium’s Built-in Safety Measures Should Have Prevented Her From Losing 50,000 USDC

Additionally, a myriad of letters addressed to the Southern District of New York judge Martin Glenn continues to flood the court’s filings. One customer, the retired Carol Becht explained in her letter that she held 50,000 usd coin (USDC) on the Celsius platform. After doing some research about USDC’s backing and how Centre issues the stablecoin, Carol Becht said she could not fathom how her USDC just evaporated. The Celsius customer insisted that the stablecoin USDC should be treated differently because Centre and Circle Financial are regulated and licensed.

“I do not understand how Celsius USDC can just disappear given safety measures built into USDC by Centre, unless Celsius falsified information,” the Celsius customer wrote to judge Glenn. “I do not believe USDC should be treated the same as crypto holdings in Celsius given the above statements,” the letter to the New York judge concludes.

What do you think about the judge giving Celsius the approval to sell mined bitcoin? What do you think about the customer who lost 50,000 USDC? Let us know what you think about this subject in the comments section below.

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Ripple, SBI Remit Join Hands to Enable Real-Time Payments Between Japan and Thailand   https://marketiva.mobi/2022/08/16/ripple-sbi-remit-join-hands-to-enable-real-time-payments-between-japan-and-thailand/ https://marketiva.mobi/2022/08/16/ripple-sbi-remit-join-hands-to-enable-real-time-payments-between-japan-and-thailand/#respond Tue, 16 Aug 2022 23:51:47 +0000 https://cryptopotato.com/?p=209909 Japan’s SBI Remit will use RippleNet Technology to enable instant money transfers between Japan and Thailand.

The new partnership also brings Thailand’s Siam Commercial Bank (SCB) on board, Ripple said in a PR on Tuesday.

Japan-Thai Remittance Service

As part of the arrangement, both SBI Remit and SCB will use Ripple’s enterprise blockchain solution RippleNet to process real-time remittance services. Right now, Thai recipients use local agents to retrieve cash sent by their relatives in Japan.

“This makes it possible for 47,000 Thai nationals living in Japan to send money home faster. SBI Remit’s customers can use ATMs to instantly send money in JPY to a recipient’s SCB savings account in Thailand and receive funds in THB within seconds,” Ripple said in its PR.

Progressive Regulation in APAC

Announcing the news of the new partnership on Twitter, Ripple underlined progressive crypto regulation and business innovations in Asia-Pacific as significant contributors to the growth of the company in this market.

“It is our duty to continuously search for superior technological solutions to deliver ever improving remittance services for our customers. With the steady rise of remittance flows, we see Ripple helping us open up new revenue potential for our business and a better overall experience for our customers,” Nobuo Ando, Representative Director at SBI Remit, said on the development. 

report published by Ripple a few days ago said 76% of financial institutions and 71% of businesses will start using blockchain and cryptocurrencies by 2025. 

Ripple Forging New Partnerships

Last month, Ripple and Singapore-based Fintech FOMO Pay announced a partnership that paved the way for the latter to use Ripple’s On Demand Liquidity (ODL) technology to provide low-cost and real-time cross-border payments to its customers in US dollars (USD) and euros (EUR). FOMO Pay is among the top digital payment processing companies in Southeast Asia. 

Early last month, Ripple launched CBDC Innovate, a hackathon with $197,000 in prize money, aimed at encouraging technologies for CBDC interoperability and financial inclusion. As part of the contest, developers were asked to build applications that run on XRP Ledger (XRPL), Ripple’s open-source blockchain. 

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Price analysis 8/12: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX https://marketiva.mobi/2022/08/12/price-analysis-8-12-btc-eth-bnb-xrp-ada-sol-doge-dot-matic-avax/ https://marketiva.mobi/2022/08/12/price-analysis-8-12-btc-eth-bnb-xrp-ada-sol-doge-dot-matic-avax/#respond Fri, 12 Aug 2022 22:17:34 +0000 http://www.btcethereum.com/blog/2022/08/12/price-analysis-8-12-btc-eth-bnb-xrp-ada-sol-doge-dot-matic-avax/ Bitcoin and many altcoins are carving out bottoming patterns as sentiment across the crypto and equities markets continues to improve. Bitcoin (BTC) could not overcome the barrier at $25,000 on Aug. 11 even though it had two catalysts in the form of a “favorable” Consumer Price Index print and news that BlackRock — the world’s […]]]>

price-analysis-8/12:-btc,-eth,-bnb,-xrp,-ada,-sol,-doge,-dot,-matic,-avax

Bitcoin and many altcoins are carving out bottoming patterns as sentiment across the crypto and equities markets continues to improve.

Bitcoin (BTC) could not overcome the barrier at $25,000 on Aug. 11 even though it had two catalysts in the form of a “favorable” Consumer Price Index print and news that BlackRock — the world’s largest asset manager, overseeing over $10 trillion in total assets — had launched a spot Bitcoin investment product. 

In comparison, Ether (ETH) has managed to hold on to its recent gains on news that the Goerli testnet had successfully activated proof-of-stake, clearing the path for Ethereum’s mainnet transition planned for Sept. 15 or 16. Data from Santiment shows that Ether whale transactions have increased along with possible whale accumulation.

Daily cryptocurrency market performance. Source: Coin360

However, analysts remain divided about the prospects of the current recovery. While some believe that Bitcoin’s rally could rise above $28,000, others are not so bullish and they expect the price to turn down and resume the downtrend.

Could buyers clear the overhead hurdle in Bitcoin and select altcoins? Let’s study the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

Bitcoin nudged above the overhead resistance at $24,668 on Aug. 11 but the bulls could not sustain the higher levels. This indicates that bears have not yet given up and are selling on rallies.

BTC/USDT daily chart. Source: TradingView

The price remains squeezed between the 20-day exponential moving average (EMA) ($23,151) and $24,668. Usually, a tight range trading is followed by a range expansion but it is difficult to predict the direction of the breakout with certainty.

In this case, the 20-day EMA is gradually sloping up and the relative strength index (RSI) is in the positive territory, indicating the path of least resistance is to the upside.

If buyers thrust and sustain the price above $25,000, the bullish momentum could pick up and the pair could rally to $28,000 and then to $32,000.

This positive view could invalidate in the near term if the price turns down and breaks below the 20-day EMA. The pair could then decline to the 50-day simple moving average (SMA) ($21,845).

ETH/USDT

Ether attempted to rise above $2,000 on Aug. 11 but the long wick on the day’s candlestick suggests that bears are defending the level with vigor.

ETH/USDT daily chart. Source: TradingView

However, a positive sign is that the bulls have not ceded ground to the bears. This suggests that traders are not hurrying to book profits as they anticipate the up-move to continue.

The upsloping moving averages and the RSI near the overbought territory indicate advantage to buyers. If bulls drive the price above $2,000, the ETH/USDT pair could rally to the downtrend line.

Alternatively, if the price turns down sharply from the current level, the bears will try to sink the pair to the breakout level of $1,700. The bulls are expected to buy the dip to this support.

BNB/USDT

BNB has been facing stiff resistance at the overhead resistance zone between $338 to $350. Although bears have repeatedly thwarted attempts by the bulls to clear this hurdle, the buyers have not given up much ground. This indicates that the bulls are not rushing to the exit as they expect a move higher.

BNB/USDT daily chart. Source: TradingView

A tight consolidation near the overhead resistance increases the likelihood of a break above it. If that happens, the BNB/USDT pair could attempt a rally to $380 and then to $414.

The important support to watch out for on the downside is the 20-day EMA ($300). If bears sink the price below this level, the pair could decline to $275 and then to the 50-day SMA ($261). A break below this support could tilt the advantage in favor of the bears.

XRP/USDT

Ripple (XRP) remains stuck between the overhead resistance at $0.39 and the 20-day EMA ($0.37). The bears attempted to resolve this uncertainty in their favor on Aug. 9 and 10 but the bulls purchased the dip and pushed the price back above the 20-day EMA.

XRP/USDT daily chart. Source: TradingView

The buyers tried to push the price above $0.39 on Aug. 11 but the bears held their ground. This indicates that $0.39 and the 50-day SMA ($0.35) are the critical levels to watch out for in the short term.

If buyers clear the overhead hurdle, the XRP/USDT pair could rally to $0.48 and later to $0.54. On the contrary, if the price slips below the 50-day SMA, the pair could slide toward the crucial support at $0.30.

ADA/USDT

Buyers attempted to push Cardano (ADA) above the overhead resistance at $0.55 on Aug. 11 but the bears held the level successfully. The price could now drop to the 20-day EMA ($0.51).

ADA/USDT daily chart. Source: TradingView

The tight range trading between the 20-day EMA and $0.55 is unlikely to continue for long. If buyers drive the price above $0.55, the ADA/USDT pair could rally to $0.63 and then to the stiff overhead resistance at $0.70.

Contrary to this assumption, if the price turns down and breaks below the 20-day EMA, the bears will attempt to challenge the support at $0.45. If the support holds, the pair may extend the consolidation between $0.45 and $0.55 for some more time.

SOL/USDT

Solana (SOL) bounced off the 50-day SMA ($39) on Aug. 10, indicating that bulls continue to buy at lower levels. The bulls attempted to push the price to the overhead resistance at $48 but the bears stalled the recovery at $45.32 on Aug. 11.

SOL/USDT daily chart. Source: TradingView

The SOL/USDT pair could continue to trade inside the ascending triangle formation for some more time. The bears will have to sink the price below the support line to invalidate this bullish setup.

Alternatively, the bulls will have to push and sustain the price above $48 to complete the bullish pattern. If that happens, the pair could rally to $60 and then make a move to the pattern target at $71.

DOGE/USDT

Dogecoin (DOGE) once again turned down from the overhead resistance at $0.08 on Aug. 11, indicating that bears continue to defend the level aggressively.

DOGE/USDT daily chart. Source: TradingView

The bears will attempt to sink the price below the moving averages and challenge the trendline of the ascending triangle pattern. A break and close below this support will invalidate the bullish setup, opening the doors for a possible retest of $0.06.

Contrary to this assumption, if the price rebounds off the moving averages, it will suggest that bulls continue to buy at lower levels. The bulls will have to push the price above $0.08 to complete the ascending triangle pattern. If that happens, the DOGE/USDT pair may rally to $0.10.

Related: 3 cryptocurrencies that stand to outperform ETH price thanks to Ethereum’s Merge

DOT/USDT

Polkadot (DOT) has been witnessing a close battle between the bulls and the bears near the breakout level of $9. The bears are attempting to pull the price back below $9 while the bulls are trying to flip the level into support.

DOT/USDT daily chart. Source: TradingView

The rising 20-day EMA ($8.47) and the RSI in the positive territory, indicating advantage to buyers. If the price rises from the current level and breaks above $9.65, the DOT/USDT pair could rally to $10.80 and later to $12.

Alternatively, if the price breaks below the strong support zone of $9 and the 20-day EMA, it will suggest that the recent breakout may have been a bull trap. The pair could then decline to the 50-day SMA ($7.62).

MATIC/USDT

Polygon (MATIC) has been trading in a tight range between the 20-day EMA ($0.88) and $0.96 for the past few days, indicating indecision among buyers and sellers.

MATIC/USDT daily chart. Source: TradingView

If this uncertainty resolves to the upside, the MATIC/USDT pair could rally to the stiff overhead resistance at $1.02. The bulls will have to overcome this barrier to signal the start of the next leg of the up-move to $1.26 and later to $1.50.

Contrary to this assumption, if the price turns down and breaks below the 20-day EMA, the short-term advantage could tilt in favor of the bears. The pair could then decline to the strong support at $0.75.

AVAX/USDT

Avalanche (AVAX) has been trading above the breakout level of $26.38 for the past few days which suggests that bulls are in no hurry to surrender their advantage.

AVAX/USDT daily chart. Source: TradingView

The gradually rising 20-day EMA ($25.6) and the RSI near the overbought zone indicate advantage to buyers. If bulls propel the price above $31, the AVAX/USDT pair could pick up momentum and rally to $33 and later to the pattern target of $39.05.

This positive view could invalidate in the near term if the price turns down and breaks below the 20-day EMA. If that happens, the pair could decline to the 50-day SMA ($21.91) and then to the support line.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

The post Price analysis 8/12: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX appeared first on BTC Ethereum Crypto Currency Blog.

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Ripple Keeps Pumping Funds Into MoneyGram https://marketiva.mobi/2020/10/30/ripple-keeps-pumping-funds-into-moneygram/ https://marketiva.mobi/2020/10/30/ripple-keeps-pumping-funds-into-moneygram/#respond Fri, 30 Oct 2020 07:56:29 +0000 https://www.coindesk.com/index.php?p=539589 All in, Ripple has funded the money sender to the tune of over $52 million for providing liquidity to one of its payments products.

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