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THERE might be a new problem with xrp valuation in the future says crypto analysts
Crypto Experts Point Out Weaknesses of SEC’s Case Against #XRP XRP, Question Motives
In a recent development, John Deaton, the Founder of CryptolawUS, and prominent lawyer representing XRP holders, along with Nietzbux, a renowned crypto enthusiast, have stirred discussions regarding the SEC’s allegations against Ripple. They’ve put forth compelling arguments suggesting that the SEC’s case may be on shaky ground, and how they were “out-lawyered” by ripple
Questionable SEC Arguments Nietzbux argues that Ripple’s brief shows that most Howey Test requirements—criteria used to determine if an asset is a security—were not met. This is significant cause all Howey Test requirements must be satisfied for an asset to be classified as a security.
John Deaton, Pro-XRP lawyer & founder of CryptolawUS,submitted an amicus brief that effectively picked apart the SEC’s argument, revealing their reliance on outdated and speculative evidence.
Deaton pointed out several weak links in the SEC’s evidentiary chain. For example, the SEC based some cases on a 2014 tweet by Chris Larsen, Ripple’s co-founder, but failed to provide evidence that any of the six named XRP holders in the motion to intervene were even on Twitter in 2014.
and it just keeps coming…
Moreover, Deaton underscored that the SEC used a 2014 brochure aimed at 100 potential investors as evidence yet failed to prove that these investors relied on the brochure when purchasing XRP. “The SEC’s strongest piece of evidence was that Ripple’s website listed where people could acquire XRP,” Deaton says. However, his amicus brief nullified this claim by mentioning that CNBC and other non-Ripple entities also provided such information.
The SEC’s Intentions are Questionable In a compelling conclusion, Deaton questioned the real motives behind the SEC’s case, stating it was “dead in the water from the start.” He hints that the case might not have been filed to uphold securit #XRP #BTC #ETH
Two visions of Sam Bankman-Fried, the disgraced crypto king, clashed in a New York courtroom on Wednesday in the opening arguments of his blockbuster trial for fraud. SBF, as he is known, "had wealth and power", but it was all "built on lies", prosecutor Thane Rehn said in his opening remarks.
For the prosecution, the former crypto darling committed "massive fraud" by stealing money from the accounts of customers of his FTX exchange platform and using them for his own account, Rehn added. The 31-year-old was charged with seven counts of fraud, embezzlement and criminal conspiracy and if convicted, he could face more than 100 years in prison.
In November 2022, his cryptocurrency exchange platform imploded, unable to cope with massive withdrawal requests from customers, panicked to learn that some of FTX's funds had been committed to risky operations by Alameda, Bankman-Fried's personal hedge fund.
Sam didn't defraud anyone," countered Mark Cohen, one of the defendant's lawyers. "There was no theft."
His lawyer acknowledged that FTX funds had been used by Alameda, but assured that it was simply a matter of investing the money, not embezzling it. On several occasions, he evoked "good faith" to describe his client's behavior when he was at the helm of FTX. FTX was a start-up and Bankman Fried had to take "hundreds of decisions a day. As a result, some things got overlooked," Cohen said. As expected, the Bankman-Fried defense team pointed the finger at Caroline Ellison, his former girlfriend, who he had placed at the head of Alameda.
For the prosecution, however, Bankman-Fried acts "as if he was no longer in charge of Alameda… when this is false… Ellison was merely a front." Ellison pleaded guilty in December to seven charges and agreed to cooperate with the Manhattan federal prosecutor. Prosecutor Rehn indicated on Wednesday that she would testify at the trial and recount how "she and the defendant stole money from FTX customers". DOEs he deserve it
FG will allow Nigerians trade freely’ — stakeholders hopeful about removal of crypto restrictions latest news for nigerian foreign exchange individuals and citizens #BTC finance Act, the government placed a 10 percent tax on gains on the disposal of digital assets, including cryptocurrencies. #cryptonews #crypto2023
During his presidential manifesto in 2022, Tinubu said if elected as president, he would reform the government’s policies around the usage of blockchain and cryptocurrency to create a more efficient and business-friendly regulatory framework.
Speaking to TheCable on the sideline of the Technext Coinference 3.0 held in Lagos on Monday, Chris Ani, the founder of Daba — a digital currency school — said he expects that by 2024, the government will allow Nigerians to trade cryptocurrency freely without restriction.
Ani said crypto is not illegal in Nigeria, but there is no legal status from the government to allow people to trade freely without fear.
Stakeholders in the blockchain industry have expressed optimism that President Bola Tinubu will lift the restriction placed on cryptocurrency trading by the Central Bank of Nigeria (CBN).
The CBN, under Godwin Emefiele, its former governor, banned cryptocurrency transactions between banks and crypto exchanges in February 2021.
Following the policy, six banks — First City Monument Bank (FCMB), Wema Bank, Stanbic IBTC, Access Bank, United Bank for Africa (UBA), and Fidelity Bank — were fined N1.31 billion for enabling crypto trading.
In May, the federal government approved the national blockchain policy to ensure the adoption of the technology in various sectors such as banking, education, security and commerce.
THE REAL QUESTION IS WHAT IS IN IT FOR THE FEDERAL GOVERNMENT OF NIGERIA????? ans( THE government would get 10 percent of all proceeds so if you make 100 dollars 10 dollars is theirs and you keep 90 dollars. DOES it seem fair leave answer in comment section.
HAVE you ever wondered why TRADING bots have become more popular than ever in 2023 & NO ITS NOT TO MAKE EVERYONE PROFITABLE CAUSE PEOPLE HAVE to lose for you to make money. TRADING bots also give room for liquidation in forex and crypto industry when there is not enough capital for liquidation trading bot is there and be careful of the result you see most trading bot owners get money from your liquidation as they charge maintenance bot fee also