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Ripple CLO Compares SEC to Kafka's 'The Trial' as XRP Case Saga Continues. In the ongoing legal saga between Ripple and the SEC, the crypto company's chief legal officer, Stuart Alderoty, drew a striking parallel between the regulator's handling of the case and Franz Kafka's renowned novel, "The Trial." Alderoty's comparison underscores. Ripple's contention that it has been unfairly treated by the regulatory body throughout the investigation and Wells Notice process. Some argue that this case is emblematic of a broader trend, with other cryptocurrency firms, such as Robinhood or Coinbase, experiencing similar challenges in navigating the SEC's inconsistent feedback. Ripple v. SEC v. XRP. As of now, the SEC continues to pursue remedies against the San Francisco-based blockchain company, amounting to nearly $2 billion for selling XRP to institutional investors. In response to the SEC's motion for judgment and remedies, Ripple has filed to seal certain documents, citing concerns that their disclosure could cause significant harm to its business interests. The requested redactions include highly confidential information regarding earnings, revenues, expenses and discounts at which XRP was sold to institutions. While Ripple acknowledges the relevance of its discounts to institutional buyers, it refuses to disclose specific financial and pricing terms. Moreover, Ripple seeks to protect the identities of nonparty financial institutions, customers and employees, arguing that disclosure could be detrimental to their legitimate privacy interests and potentially damage business partnerships. Despite the SEC's request for over $2 billion in fines and penalties, Ripple contends that any civil penalty should not exceed $10 million.

Ripple CLO Compares SEC to Kafka's 'The Trial' as XRP Case Saga Continues.

In the ongoing legal saga between Ripple and the SEC, the crypto company's chief legal officer, Stuart Alderoty, drew a striking parallel between the regulator's handling of the case and Franz Kafka's renowned novel, "The Trial."

Alderoty's comparison underscores.

Ripple's contention that it has been unfairly treated by the regulatory body throughout the investigation and Wells Notice process. Some argue that this case is emblematic of a broader trend, with other cryptocurrency firms, such as Robinhood or Coinbase, experiencing similar challenges in navigating the SEC's inconsistent feedback.

Ripple v. SEC v. XRP.

As of now, the SEC continues to pursue remedies against the San Francisco-based blockchain company, amounting to nearly $2 billion for selling XRP to institutional investors.

In response to the SEC's motion for judgment and remedies, Ripple has filed to seal certain documents, citing concerns that their disclosure could cause significant harm to its business interests.

The requested redactions include highly confidential information regarding

earnings, revenues, expenses and

discounts at which XRP was sold to

institutions. While Ripple acknowledges the relevance of its discounts to institutional

buyers, it refuses to disclose specific

financial and pricing terms.

Moreover, Ripple seeks to protect the identities of nonparty financial institutions, customers and employees, arguing that disclosure could be detrimental to their legitimate privacy interests and potentially damage business partnerships. Despite the SEC's request for over $2 billion in fines and penalties, Ripple contends that any civil penalty should not exceed $10 million.

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Bitcoin (BTC) Whales Almost Disappear From Network, Here's Reason Why. As the most recent data provided by Santiment suggests, Bitcoin whales are currently distancing themselves from the market, with their activity plummeting towards 2024's lows. Unfortunately, it could be an indicator of an upcoming surge of selling pressure if BTC stays relatively neutral. While Bitcoin's 100 + BTC whale wallets continue to hold a high level of coins, totaling 11.79 million BTC, whale activity has dropped to its lowest level of 2024. There are currently 15,907 wallets holding at least 100 coins. Whenever the metric rises, we see a surge of renewed demand among whales, which should directly affect the performance of Bitcoin. Interestingly, the drop in whale activity could also be seen as a positive sign for the market. With fewer whales actively trading, the market might experience less volatility. When whales make large transactions, they can significantly impact the market, causing sudden price swings. Reduced activity among these large holders can lead to a more stable and predictable market environment, but it's not why people trade and hold cryptocurrencies. Additionally, the lower whale activity might indicate that these large holders are content with their current positions and are not looking to liquidate their holdings. This could suggest a long-term bullish sentiment, as whales often have a better understanding of market dynamics and trends. Their decision to hold rather than sell might reflect their confidence in Bitcoin's future price growth. While the recent decline in Bitcoin whale activity to the lowest level of 2024 might initially seem concerning, it also offers some positive implications. Reduced market volatility and the potential for long- term holding among whales can provide a more stable environment for smaller investors.
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Ethereum (ETH) Finally Breaks Crucial $3,000 Resistance, What Comes Next? After one very long ride, Ethereum (ETH) has finally breached the psychologically important $3,000 price mark. While this calls for celebration, investors are advised to exercise caution as headwinds lie ahead. Ethereum market headwind not cleared. Despite its strong correlation with Bitcoin, Ethereum's price outlook in this current bull cycle has been somewhat disappointing. While Bitcoin soared to its all-time high (ATH) and set a new one above $73,000, Ethereum traded above 40% below its ATH. The $3,000 price level has been a major bane for Ethereum over the past month. From at least April 17, Ethereum has made at least six attempts to surpass the $3,000 resistance but was always rejected at each point. At the time of writing, the coin is changing hands for $3,051.63; however, it is down by 1.27% in the past 24 hours. From a low of $2,925.09, Ethereum outwitted the bears to attain its current level, a point that might not hold now. The general market optimism surrounding Ethereum is bearish, with the trading volume down 11.92% to $13,653,971,007. On thin ice. Ethereum is passing through a major litmus test that might either make or mar its valuation moving forward. While it remains unclear what triggered the shoot-up in the price, the drawdown is explainable. This is because the United States Securities and Exchange Commission (SEC) plans to designate Ethereum as a security. This is projected as the basis for which the regulator might deny several applications for spot Ethereum ETFs. The industry is currently divided on the likely disposition of the U.S. SEC regarding this offering; however, experts' general consensus is that the approval odds are reasonably down. If the SEC says no to an Ethereum ETF, it might trigger a ripple effect in a price slump overall.
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Altlayer coin overview. Will she have a good future or not? AltLayer is an open and decentralized protocol for rollups. AltLayer brings together a novel idea of Restaked Rollups which takes rollups (spun from any rollup stack such as OP Stack, Arbitrum Orbit, Polygon CDK, ZK Stack, etc.) and provides them with enhanced security, decentralization, interoperability and crypto-economic fast finality by leveraging restaking mechanism. ALT is AltLayer's native utility token and is used in the following functions: Economic bond: ALT token will be used alongside restaked assets to provide economic stake. This stake can be slashed if a malicious behavior is detected. Governance: ALT token holders can vote on governance decisions. Protocol Incentivization: Operators in the AltLayer ecosystem can earn ALT tokens as rewards for their services. Protocol Fees: Network participants will need to pay for intra-network services in ALT tokens. AltLayer’s core offering of restaked rollups consists of three key products: VITAL: An Actively Validated Service (AVS), where operators verify blocks and the corresponding states committed by the rollup sequencer and raise fraud proof challenges if necessary. MACH: A protocol to provide faster finality to rollups by allowing operators to restake Ethereum-based assets to back any claims on the rollup state. SQUAD: Offer decentralized sequencing with economic backing. Decentralized sequencing eliminates short-term liveness concerns, bad MEV, rent extractions and other issues associated with rollups that operate with a single sequencer. Today's currency rate. Altlayer price : $0.2982 The price of Altlayer (ALT) today is around US$0.2982, with a 24-hour trading volume of around $42.74 million. Total supply : 10,000,000,000 ALT. Market cap : $328,302,066 ALT. #ALTrestaking
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