Over the last several days, the value of Ripple (XRP), which is the seventh-largest cryptocurrency in the world, has been trending downward.At the time of this writing, one unit is worth $0.3428, which represents a decrease of 2.73% over the course of the previous 24 hours and 8.5% over the course of the previous week.The current price behavior of the token, in conjunction with Jim Cramer’s recent remarks on XRP, has prompted investors to have an unfavorable opinion against the cryptocurrency.Cramer encouraged investors to liquidate their cryptocurrency holdings and get out of the market while there is still time to do so.The billionaire is of the opinion that XRP might fall dramatically in 2023 and reach a low of $0.But crypto whales don’t appear to care about the price movement or Cramer’s remarks or even rumors that Ripple may lose its lawsuit against the SEC.Based on the information provided by WhaleAlert, cryptocurrency whales have recently purchased about 138 million XRP tokens which is around $52.1 million.
As the amicus curiae submit a fresh request, the Ripple case is drawing closer to the pronouncement of Summary Judgement.
An amicus curiae, also known as a “friend of the court,” is a person or organization who is not a party to a legal issue but is authorized to help the court by offering pertinent information, knowledge, or insight.This assistance might take the form of submitting a brief or testifying in court.In a startling turn of events, crypto lawyer James K.Filan tweeted that Nicole Tatz, an attorney representing Ripple Labs Inc.
CEO Bradley Garlinghouse, has sought to withdraw as their counsel in the ongoing case.Since she no longer wishes to be associated with the law firm, she has said that other lawyers at the United States law firm Cleary Gottlieb Steen & Hamilton LLP will continue to be a counsel of record for Bradley Garlinghouse in this lawsuit.However, this will not affect things in any way.The case will proceed in the same manner as it has.The SEC and Ripple have both submitted their last briefs, asking the court to rule in their favor and grant them summary judgment.Although, before appealing the decision, the SEC may first seek to have it reconsidered as a summary judgment.
To the announcement of Tatz’s departure as Ripple’s counsel, the cryptocurrency community on Twitter has reacted in different ways.There are many who don’t care about her decision or her reasons for doing so, pointing out that individuals often leave their jobs.Also, it’s not like it would change the result of the case anyhow.
In contrast, others are concerned, assuming that this spells trouble for Ripple.But I really doubt it.The legal firm seems to be the only motivation for Tatz’s departure, rather than Ripple itself.
As a result, it will have no bearing on the outcome of the lawsuit.In spite of the SEC’s efforts, we remain optimistic that Ripple will ultimately prevail.Was this writing helpful? No Yes Elena R Elena is an expert in technical analysis and risk management in cryptocurrency market.She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
The native currency of the Tron network, TRX, is one of the few cryptocurrencies in the current altcoin market to experience a price hike.As of this writing, TRX has gained 0.2% on a daily basis, with a 6.1% increase seen on a monthly timeframe.A recent development might have something to do with this, as it pertained to the TRX environment.According to a tweet, the ecosystem has reportedly passed Binance’s BSC to become the No.2 cryptocurrency in terms of total value locked.Despite this progress, the price of TRX was rejected at $0.055175, causing a fall to its current market price of $0.053740.The entire locked value of Tron has recently breached $4.30 billion, surpassing BSC by approximately $260 million.
#TRON surpasses #BSC to become the 2nd largest chain by Total Value Locked on-chain! @justinsuntron seems to be one of the only people that’s doing well considering the fall of all the heroes of 2021 #TRX #TVL pic.twitter.com/L1I1L50yHE — Intuit Φ (@Intuit_Trading) December 17, 2022 Tron (TRX) Price Gets Rejected DeFiLlama statistics reveals that TRX has dropped to third place since the tweet went public.While BSC has increased its TVL by 30% during the past two days, Tron’s TVL has decreased by 0.68% since December 17, the data shows.This was reflected in the price, as TRX was rejected at $0.055175 on December 18.In addition, Tron’s USDD stablecoin has lately lost its peg.Fears were raised amongst TRX advocates that the network could fail in the same tragic way that Terra did, as a result.Meanwhile, the coin’s developers and founder Justin Sun developed TCNH, a stablecoin pegged to the offshore Chinese yuan, to compensate.It used offshore Chinese yuan to circumvent the cryptocurrency restrictions.
Nonetheless, if the Chinese government ever takes note of this growth, the absolutely top-down nation could make adjustments.the crypto may be safe from the Chinese government, though, because Justin Sun is playing it safe by sticking with the Chinese currency.Offshore Chinese Yuan-Pegged #TCNH is now accessible to all #TRONICS! #TRON is excited to collaborate with @tusdio to continue decentralizing finance! 🚀 Read more below by @decryptmedia ⬇️ https://t.co/7D8noTSBIk — TRON DAO (@trondao) December 17, 2022 TRX total market cap at $4.9 billion | Chart: TradingView.com What Is The Impact On TRX? Meanwhile, TRX is somewhat correlated with ETH.The token itself has moved upward in the past weeks, making it one of the outliers in the altcoin market that did not depreciate when ETH was struggling.However, the token may be destined for further hammering.On December 16 it dropped a staggering 6.5 percent.The U.S.
Federal Reserve hiked interest rates on this date.With more anticipated interest rate hikes, the coming days or weeks could be more difficult.Nonetheless, if this momentum continues, the Tron ecosystem will endure additional pain, as is already the case.
Investors and traders can short TRX as downward price movements are more likely than bullish price increases.However, the debut of TNCH will certainly attract Chinese crypto enthusiasts who were previously prohibited by regulation.Crypto news Bankrupt Crypto Firm Voyager Announces Agreement With Binance US To Acquire Its Assets As Binance makes itself at the top of the headline in the crypto market by raising concerns regarding its proof-of-reserves audit, the crypto giant now attracts fresh attention after signing a deal with a popular crypto firm to acquire its assets.Recently, Voyager Digital Ltd grabbed the best deal from the crypto exchange giant Binance US for selling off its assets after a review of a strategic bidding session with the main motive of maximizing the value returned to the platform’s users and other creditors on a specific time frame.
Binance US To Acquire Voyager’s Assets With $1 Billion Valuation This year has been rough and tough for the entire crypto space after FTX’s bankruptcy filing and recent controversies made on Binance’s audit reports.Voyager Digital, which sits on the top of the crypto space with a robust user base of 3.5 million and $5.9 billion worth of assets, has collapsed to the ground after filing its chapter 11 bankruptcy on 6 July.However, the crypto firm once tried to sell its assets to FTX’s owner SBF for $1.42 billion in September, but the deal went in vain after FTX drastically collapsed in November.However, Binance US now paves a clear road to return locked funds of Voyager’s users as the crypto giant won the highest bid of $1.022 billion for acquiring Voyager’s assets.Binance made the agreement clear as it was composed of the current situation and market value of Voyager Digital with an additional consideration of $20 million of incremental value.Voyager declared that the company’s claims against Three Arrows Capital remain in the state of bankruptcy, and any further recovery on the shares will be returned to the creditors.Binance Shapes Up Voyager Amid Bankruptcy In compliance with the court’s documents, the primary motive of Binance US is to return the funds of users and investors of Voyager Digital.Moreover, Binance US will make a good faith deposit of $10 million to reimburse Voyager’s expenses with a maximum expenditure of $15 million.
The deal may close with a one-month extension from 18 April 2023.The next hearing is scheduled on 5 January 2023, where Voyager will gain bankruptcy court approval to execute the asset purchase with Binance US completely.Additionally, it has been made clear that Binance will work closely with Voyager to complete each transaction to comply with the Chapter 11 plan.The timeline and return of locked assets to customers will be made public, and it can be viewed by visiting the Voyager case website https://cases.stretto.com/Voyager.
Voyager officially stated, “Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause Voyager’s actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements.” Binance has widely dominated the crypto industry as it controls over half of the global crypto trading volume.However, the crypto exchange has caught the eye of several US regulatory bodies, including the U.S.Justice Department, in a possible money-laundering case and severe violations in the crypto market.Despite being the messiah amid several firms’ collapse and bankruptcy, Binance has seen a sharp drop in its users’ confidence in storing crypto funds on the platform as it witnesses a massive surge in withdrawals over the last few days with its raising concerns about audit reports.
However, Binance seems to provide clear reports to the crypto community, and it may soon wipe out customers’ concerns by barring the platform from becoming another FTX.Was this writing helpful? No Yes Savannah Fortis I am versatile journalist covering tech, blockchain and the DeFi industry.Besides that, I am a passionate street photographer.Crypto news David Gokhshtein Says that Ripple Vs SEC Lawsuit Decision is Just 2-Months Away! David Gokhshtein, the founder of Gokhshtein Media, tweeted yesterday that the legal decision in the Ripple vs SEC case may be announced in two months, or at the start of 2023.It’s been about 24 months since the case began; another 3-4 months won’t hurt, right? Earlier this year, he stated that if Ripple wins, it will help the crypto giant and the XRP coin, as well as the entire crypto sector, to go ballistic.Gokhshtein had earlier stated that the high-profile case would conclude by December 15.He based his theory on something Charles Hoskinson had said in a recent YouTube session: ‘ask me anything.’ After this, reports circulated online that the settlement date could be December 15.Many XRP users began calling Hoskinson a liar.
As a result, the founder of IOG and Cardano stated this week that he does not want to be involved in any debates about the Ripple case or XRP.Both parties involved in the action, Ripple and the SEC, filed all relevant documents in early December, and the litigation is expected to go on a few months longer.Ripple CEO Brad Garlinghouse anticipates the issue to be resolved in the first half of 2023.In December 2020, the SEC filed a lawsuit against Ripple for conducting $1.3 billion in securities offerings.The company is charged with breaching Sections 5(a) and 5(c) of the Securities Act of 1933.If the SEC wins the case, XRP will be treated as a security rather than a currency in the United States.This could start a chain reaction that leads to the reclassification of similar cryptocurrencies as securities.Was this writing helpful? No Yes Delma Wilson Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency.
In her spare time, she loves to blog, play badminton and watch out ted talks.She likes pets and shares her free time with NGO.
Back to top button Top posts (Nasdaq: GREE)3 hours ago Bitcoin Miner Greenidge Enters Non-Binding Debt Restructuring Deal With NYDIG The bitcoin mining operation Greenidge Generation Holdings Inc.has executed a restructuring deal with NYDIG, according to an announcement published…
ada6 hours ago Cardano (ADA) Falls Below Critical Point, Why There Is More Pain To Come Cardano (ADA) remains one of the hardest-hit cryptocurrencies even before the bear market was officially in full bloom.The digital…Analysis6 hours ago Biggest Movers: LTC Snaps Extended Bear Run, As LINK Hits 4-Day High Litecoin snapped a recent bear run on Tuesday, as cryptocurrency prices moved marginally higher.
The token was up by nearly…
Exchanges7 hours ago Gemini suffers 2 downtimes in 7 days Gemini suffers 2 downtimes in 7 days Oluwapelumi Adejumo · 4 mins ago · 1 min read Gemini said it…Bankruptcy7 hours ago BlockFi confirms move to allow BlockFi Wallet users access to funds BlockFi confirms move to allow BlockFi Wallet users access to funds Liam ‘Akiba’ Wright · 21 mins ago · 2…
Crypto law7 hours ago Incoming House Financial Services Committee chair reintroduces bill on crypto The bill will make it easier to bring products to market without being subjected to “burdensome regulation.” Rep.McHenry penned…Bitcoin8 hours ago Bitcoin: Decoding if BTC’s position offers a buying opportunity for traders Bitcoin dumped into a potential bounce region The coin remained undervalued but on-chain data showed no confirmation to begin buying…Binance8 hours ago Boris Johnson’s brother leaves his role as Binance advisor, details inside Jo Johnson resigned from his role at Binance’s UK advisory board.
UK has remained a volatile space for the exchange…Altcoins9 hours ago Can BNB bulls clear this major obstacle to hit $257.4? Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s…Bitcoin9 hours ago Bitcoin Poised To Resume Its Inclination To Outperform, Says Bloomberg Senior Analyst After the Bank of Japan (BOJ) announced a surprising turnaround in its monetary policy today, the Bitcoin price managed to…
Wrapped11 hours ago CryptoSlate Daily wMarket Update: Dogecoin down as Musk reconsiders Twitter CEO position CryptoSlate Daily wMarket Update: Dogecoin down as Musk reconsiders Twitter CEO position Samuel Wan · 2 hours ago · 2…Altcoins11 hours ago Can the Terra Rebel update give LUNC investors a reason to rejoice Terra Rebel reduced the total number of active members.Though development activity rose, social dominance fell.On 19 December, Twitter…AMAs11 hours ago Hoskinson: Musk ‘had no idea on what he was doing’ with Twitter Hoskinson: Musk ‘had no idea on what he was doing’ with Twitter Samuel Wan · 5 hours ago · 2…
Babangida Ibrahim11 hours ago Report: Nigerian Lawmakers Set To Pass Law That Diminishes Central Bank Influence On Crypto Nigeria is expected to designate cryptocurrency as capital for investment if the country’s House of Representatives votes to approve a…Bitcoin11 hours ago QuadrigaCX funds transfer: Is there a dead CEO on the block Five wallets moved over a million dollars’ worth of Bitcoin from QuadrigaCX Theorists believed that the exchange’s so-called dead CEO…Altcoins12 hours ago Here is what Shiba Inu traders can expect after the recent liquidity hunt Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s…Connecticut12 hours ago Today’s Connecticut Mortgage Rates: What To Know Before Making A Connecticut Home Purchase We want to help you make more informed decisions.Some links on this page — clearly marked — may take…
Exchanges12 hours ago FTX seeks to recoup SBF’s donations to US politicians FTX seeks to recoup SBF’s donations to US politicians Christian Nwobodo · 6 hours ago · 1 min read As…Trending – 10 BTC5 days ago Another Mysterious Person Signs A 2009 BTC Address, Message Shared By Martin Shkreli Mentions Convicted Felon Paul Le Roux – Altcoins7 days ago Chiliz [CHZ] investors can profit from these levels if November BTC’s reaction… – 1Inch7 days ago Why 1INCH should be among the top cryptos in your watchlist this week – Bitcoin7 days ago Bitcoin [BTC] bounces above 50-day MA, but what should LTH expect? – 165 years in prison7 days ago FTX Co-Founder Indicted By Federal Grand Jury In Manhattan, Bahamian Magistrate Denies SBF’s Bail – Albany Place4 days ago Bahamas Corrections Commissioner Says FTX Co-Founder Bankman-Fried Is In ‘Good Spirits’ In The Prison Sick Bay – Altcoins7 days ago What are the odds of Chainlink [LINK] crossing its near-term high this week? – @halfin Twitter account4 days ago Hal Finney’s Wife Fran Activates Her Husband’s Twitter Account To Protect It From ‘Being Purged’ By Elon Musk []https://news.btcminingvolt.io/uncategorized/another-mysterious-person-signs-a-2009-btc-address-message-shared-by-martin-shkreli-mentions-convicted-felon-paul-le-roux/ []https://news.btcminingvolt.io/news/chiliz-chz-investors-can-profit-from-these-levels-if-november-btcs-reaction/ []https://news.btcminingvolt.io/news/why-1inch-should-be-among-the-top-cryptos-in-your-watchlist-this-week/ []https://news.btcminingvolt.io/news/bitcoin-btc-bounces-above-50-day-ma-but-what-should-lth-expect/ []https://news.btcminingvolt.io/uncategorized/ftx-co-founder-indicted-by-federal-grand-jury-in-manhattan-bahamian-magistrate-denies-sbfs-bail/ []https://news.btcminingvolt.io/uncategorized/bahamas-corrections-commissioner-says-ftx-co-founder-bankman-fried-is-in-good-spirits-in-the-prison-sick-bay/ []https://news.btcminingvolt.io/news/what-are-the-odds-of-chainlink-link-crossing-its-near-term-high-this-week/ []https://news.btcminingvolt.io/uncategorized/hal-finneys-wife-fran-activates-her-husbands-twitter-account-to-protect-it-from-being-purged-by-elon-musk/.
