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Ripple CEO Urges US Democrats to Regulate Crypto, Criticizes “Counter-Revolutionary” SEC Chairman
Ripple CEO Brad Garlinghouse has emphasized the need for real action in cryptocurrency regulation following a key roundtable discussion.
The discussion, hosted by US Senator Ro Khanna, brought together prominent figures such as Mark Cuban, Coinbase chief legal officer Paul Grewal and Circle chief strategy officer Dante Disparte, and senior officials such as Anita Dunn, a senior adviser to President Joe Biden, along with SEC Chairman Gary Gensler, whose regulatory policies have been controversial.
Garlinghouse praised Senator Khanna for his participation but criticized the Democratic Party for allegedly "abetting" the SEC Chairman's policies. The Ripple CEO believes that the Democratic Party is hindering American innovation in the cryptocurrency sector, calling Gensler a “counter-revolutionary” with policies that prevent progress. Despite the criticism, industry leaders showed cautious optimism following the discussion. Kristin Smith from the Blockchain Association noted positive progress in the cryptocurrency discussion in Washington, highlighting the industry's growing importance to voters and its maturing influence.
Since entering the 2024 election year, cryptocurrency regulation has become a divisive issue. Former President Donald Trump has expressed support for the industry, and the US Republican Party has pursued a favorable stance towards cryptocurrencies.#Write2Win #binance #Xrp🔥🔥

The development of a Polkadot-Cardano bridge is exciting for the community
Polkadot community members are debating the feasibility of a bridge interconnecting the network with Cardano.
Felix, a representative from the Unifires ecosystem, shared on the Polkadot Forum that efforts are underway to develop a Cardano-Polkadot light client and NFT swap bridge. He mentioned that the proposal has been submitted to Cardano and plans to submit a similar proposal to Polkadot's decentralized governing body, OpenGov.
He said the proposal would help fund a project that would bring huge benefits to both ecosystems. Blockchain bridges allow users to transfer assets between networks, solving interoperability challenges associated with the broader cryptocurrency industry.
Both networks, founded by Ethereum co-founders Gavin Wood and Charles Hoskinson, have seen significant technical development and user growth since their inception. This latest interoperability effort is expected to enhance the utility of both blockchains, especially with upcoming major upgrades set to transform their ecosystems.
Initial community reaction to the proposal was generally supportive, with Polkadot Chief Ambassador Tommi Enenkel, commonly known as Alice and Bob, offering his views on how the bridge could be built .
“For the Polkadot->Cardano direction, I believe the simplest approach would be to verify the Beefy proof of contract on Cardano L1.”
#Write2Win #binance #ADA2024

XRP recently reached a major milestone in the decentralized finance (DeFi) market. According to XRPscan, the total amount of XRP pooled in the XRPL Automated Market Maker (AMM) has surpassed 10 million XRP. This important milestone highlights the growing adoption and usage of XRP in DeFi.
AMM is a type of decentralized trading mechanism that uses a liquidity pool to algorithmically price assets instead of creating incentives on pre-set specifications. Liquidity pools allow holders to earn a portion of transaction fees by providing their tokens as liquidity.
In the case of the XRP Ledger, the built-in central limit order book (CLOB) handles all XRPL transactions for fungible tokens.
CLOB is a system that organizes trading orders from buyers and sellers in a trading platform, where trading orders are organized and publicly displayed for all market participants to view and view. execute their trading orders.
CLOB has been an integral part of XRPL since its inception and offers the benefits of reduced trust assumptions and centralized liquidity provision, as opposed to losses within contracts. smart copper.
In addition to the existing CLOB, an AMM was elected to the protocol in Q1 2024, as stipulated by the XLS-30 standard.
The growth in the amount of XRP locked in the AMM pool to 10 million XRP reflects strong interaction with XRPL's infrastructure.
As the total amount of XRP pooled in the XRPL AMM increases, it could attract even more participants to the XRP Ledger.#Xrp🔥🔥 #Write2Win #binance

Ripple's XRP Likely to Leap to $10 After 7 Years of Huge Accumulation
Despite market volatility and Ripple's ongoing legal battle with the US Securities and Exchange Commission (SEC), XRP appears poised for a significant turnaround. Analysts predict prices will skyrocket after nearly a decade of accumulation. #Xrp🔥🔥
On May 13, analyst U-Copy tweeted that XRP is approaching the final stages of forming a triangle pattern. This shows that the 7-year accumulation period from 2018 to 2024 is coming to an end. According to U-Copy, this accumulation phase will likely reveal XRP's true potential in the 2024 bull cycle.
Notably, following the historical trend, after completing the 2013-2017 accumulation period, XRP spiked from around 0.005 to $2.50, corresponding to a whopping increase of nearly 500,000%. This time U-Copy predicts a similar trajectory and emphasizes that the current accumulation phase is longer than the previous one. The analyst further predicts that XRP price will increase significantly until the end of the year.
“Seven-year accumulation from 2018-2024 will begin to show the true color of XRP in the 2024 bull cycle. Target price unknown but could see a big breakout in this bull cycle until December ”.
#btc reduced to #XRP’ passing by .. you know what to do 🫡🫡🚀

Ripple will be the next Amazon and Facebook regardless of poor XRP performance
Ripple will be a billion dollar startup
Ripple's future prospects and its ability to become a billion-dollar company. The United States will consider Ripple as a “unicorn company” similar to e-commerce and technology giants such as Amazon, Apple, Facebook, Microsoft.
Ripple is on a growth trajectory similar to leading companies that have contributed to the growing US economy. The prediction, based on the stablecoin plan for cryptocurrency payments, highlights how members of the US Treasury Department acknowledge the importance of stablecoins in the national economy.
A recent Wall Street Journal article highlighted how crypto could prevent a potential debt crisis in the United States. Treasury members are discussing how stablecoins could help the United States maintain global dominance, highlighting the potential for these digital assets to address the “massive debt burden the United States currently faces.” bear".
In early April, Ripple announced its intention to launch a USD-pegged stablecoin, competing with established stablecoin giants such as Tether (USDT) and Circle (USDC). The development is in line with the cryptocurrency payments company's plans to expand its digital payments footprint while strengthening its position in the U.S. financial market.
#Write2Win #binance #Xrp🔥🔥

6️⃣ reasons why the US SEC will not appeal Judge Analisa Torres's ruling in the Ripple case #XRP/USDT🔥🔥:
The US Securities and Exchange Commission (SEC) may choose not to appeal the summary judgment from Judge Analisa Torres in favor of Ripple Labs, signaling a change in strategy aimed at avoiding setting a potentially unfair precedent. benefits in higher courts. This possibility has come to light as the crypto community awaits the court's remediation phase ruling expected in late summer 2024, which then opens the door to an SEC appeal.
There are several key factors that explain why the SEC was able to avoid an appeal in this infamous case:
1️⃣. Avoid unfavorable precedents

2️⃣. Inconsistency in judicial interpretation

3️⃣. Strategic risk management

4️⃣. Maintain regulatory flexibility

5️⃣. Wider implications for the cryptocurrency industry

6️⃣. Consider long-term strategy

#Xrp🔥🔥

Investors are betting on a price breakout in XRP (XRP). Can XRP continue its rise?
Traders are increasingly betting on XRP's price increase
According to market analysis by analyst Woominkyu from CryptoQuant, more and more traders are betting on the price increase of XRP (XRP), reflected in the increase in open interest (OI).
He wrote in a June 18 research report:
“As open interest increases along with the price, investors tend to open more positions in the expectation that XRP price will continue to rise. This increased interest shows there is more trading activity going on with XRP.”
However, the author also warns that this could lead to sharp price fluctuations. He wrote:
“This may reflect investor expectations, but it could also bring major fluctuations in the market, so caution is needed.”
XRP price has been in a downtrend since the beginning of the year, down more than 19.92% year-to-date (YTD), trading at $0.493 at the time of writing.
XRP open interest began increasing on June 11, and expectations of a breakout may be related to developments in Ripple's lawsuit with the United States Securities and Exchange Commission (SEC).
On June 13, Ripple requested a fine of “no more than $10 million” — much lower than the $876.3 million civil penalty proposed by the regulator — citing the SEC settlement with Terraform Labs .
“Such a low penalty would defeat the purpose of the civil penalty provisions,” the SEC argued in a June 14 letter to Judge Torres.

Will XRP price increase strongly again?
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Xrp 🚀

Ripple requested a lower penalty than the SEC's $2 billion request, citing the Terraform case
Ripple Labs' lawyers are looking to take advantage of the Court's recent rulings against Terraform to reduce the fine in their case with the U.S. Securities and Exchange Commission (SEC).

Ripple, which has been in a lengthy legal battle with the SEC over the past few years, called the agency's proposed financial penalties unreasonable in a “notice of additional jurisdiction” posted on Thursday. Year. The firm compared the SEC's proposed $2 billion fine for the sale of XRP to institutional investors to the fines against Terraform Labs. Ripple has argued that their fine should be around $10 million.

Terraform agreed to pay $4.47 billion in fines on Wednesday and then on Thursday, a judge signed off on the deal.

“The civil penalties sought by the SEC in the Terraform case demonstrate the unreasonableness of the civil penalties sought by the SEC in this case,” Ripple lawyers said. “As Ripple's objection explains, in similar (and even more serious) cases, the SEC has agreed to civil penalties ranging from 0.6% to 1.8% of revenue of the defendant. Terraform fits that model.”
Ripple also cited an April jury verdict that Terraform Labs and co-founder Do Kwon committed civil fraud.

“Here, by contrast, the SEC seeks a civil penalty far beyond that scope, even though there was no allegation of fraud in this case and the Institutional Investors did not suffer major losses,” the attorneys said. know. “

More RWA Opportunities for XRP Ledger's DeFi Ecosystem: Gold and Silver Tokenization in Q3
Meld Gold, a company operating in the field of physical assets and blockchain technology, has announced a partnership with Ripple to issue two new stablecoins on the XRP Ledger, backed by Gold and Silver respectively. Each token will represent 1g of precious metals held by leading custodial providers MKS Pamp and Imperial Vaults.
Meld Gold said it will offer fungible Gold and Silver assets on XRPL in the third quarter of 2024. As of now, the company maintains the same digital assets on Algorand (ALGO ), another programmable L1.
Michael Cotton, Meld Gold CEO, emphasized the importance of this release for the entire ecosystem of tokenized protocols on XRPL and the entire Web3 sector.
According to Ripple president Monica Long, the company is seeing increasing demand for RWA solutions from B2B (Business-to-Business) customers.
Long added that Ripple is exploring various opportunities to tokenize on XRP.
Meld Gold representatives emphasized that the integration with XRPL will help grow the XRPL DeFi ecosystem, providing the largest-cap and most adopted onchain assets in the world.
By enhancing essential liquidity, new and existing users can take advantage of XRPL's native features, including DEX, AMM, payment system as well as upcoming crypto market and EVM.
Ripple CTO David Schwartz pointed to the tokenized goods sector as a strong catalyst for RWA adoption across the XRP Ledger and dApp ecosystem
#Xrp🔥🔥

BRICS is developing its own payment system: Digital currencies other than Bitcoin are "causing fever" on forums with the expectation of being "chosen"
A news site specializing in cryptocurrency said that XRP is attracting attention on forums as optimists believe that it can become the BRICS' choice in international payments.
As part of their de-dollarization efforts, BRICS countries are promoting plans to launch a common currency to develop an independent payment system.#Xrp🔥🔥
Previously, the Central Bank of Russia talked about a cross-border money transfer project. However, a series of difficulties and challenges in developing a common legal currency of the bloc makes cryptocurrency advocates expect that an electronic currency will be used.
According to cryptocurrency site Coingape, Ripple is considered a bright candidate. Supporters believe that this currency is considered a "great" choice to develop a cross-continental payment system for the bloc.
According to its supporters, XRP is famous for its fast transaction speeds and low costs. Therefore, this seems to be a viable system in case BRICS is considering to "revolutionize" international payment goals.
If this becomes a reality, the price of XRP will skyrocket. Cryptonairz founder and CEO Robert Doyle said the XRP coin could reach the $10,000 mark if widely used by BRICS countries. In addition, many opinions believe that member countries of the bloc will receive many benefits from choosing XRP as an alternative currency to USD.

#Binance's #RippleXRP?

US SEC reduces Ripple fine from $2 billion to $102.6 million The US Securities and Exchange Commission (SEC) has reduced the proposed fine for Ripple from $2 billion to $102.6 million , according to a legal document dated June 14, 2024, shared by defense attorney James Filan.

Ripple argued that the SEC has agreed to fines ranging from 0.6% to 1.8% of defendants' revenue in previous cases. The company has proposed to pay $10 million to resolve the dispute. In its new filing, the SEC said the Ripple comparison is flawed and inapplicable. The SEC also explained that Terraform Labs was fined at a lower rate due to the company's bankruptcy and agreed to several relief measures, including the burning of all remaining tokens. According to the SEC, Ripple has not agreed to any such terms.

“Ripple was remiss in not mentioning that the defendant was in bankruptcy – indicating financial insolvency or inability to meet its financial obligations – not only suspending operations but also ceasing operations. permanently, burning all crypto assets, agreeing to return a significant amount of money to investors, and removing two board members in charge at the time of the breach.

The SEC considered all of these factors in agreeing to the settlement and repeatedly cited them as relevant evidence for the court to approve the settlement under applicable law. In fact, Ripple does not agree to any of the elements.”
#Xrp🔥🔥