The backlash in the court of public opinion criticizes the SEC’s years of confusing and conflicting guidance regarding cryptocurrency assets and its muddled mismanagement of the current Ripple case. Leaked Microsoft documents have revealed the new Xbox could offer support for crypto wallets, … [+] potentially opening up the bitcoin, ethereum, BNB, and XRP market to billions.
It’s not impossible to think that the SEC could seek a face-saving settlement with Ripple so its chair has a better chance at the cabinet post. A settlement would also pave the way for XRP to be resurrected on crypto exchanges such as Coinbase. Armstrong’s tweet linked to an unflattering article published in August about the unexpected blowback from millions of retail investors against the SEC — the very constituency the SEC is supposed to protect.
- Since 2017, he has written about cryptocurrencies, blockchain, and crypto’s potential to revolutionize finance.
- The ultimate consequences of the SEC lawsuit for Ripple Labs and people who hold or want to trade XRP are still unclear.
- Unlike Bitcoin, which values anonymity and decentralization, Ripple has ties to banks and financial institutions.
- When the SEC filed its suit last December, many experts and analysts felt it was a death knell for XRP, as it was delisted from most crypto exchanges globally.
- “The Ripple case seems to be going better than expected. Meanwhile the SEC is realizing that attacking crypto is politically unpopular (because it harms consumers),” posted Armstrong.
Despite regulatory challenges, many people are confident in the potential for XRP to gain value. If you are one of these people but are unsure where to buy the coin, read on and learn how to buy XRP on Coinbase. “The regulatory clarity MiCA provides to the industry is hugely welcome, and shows that the region is recognizing the potential that emerging technology can provide,” the company said in Monday’s announcement. Now, as a surprise bitcoin “flip” primes traders for an Elon Musk bombshell, a shock leak has revealed tech giant Microsoft is planning to add crypto support into its next Xbox.
XRP News: Armstrong Speaks – US Election Could Shift Crypto Landscape
However, it could all be a moot point if Judge Katherine P. Failla grants the Coinbase motion to dismiss. Crypto-Law US founder and Amicus Curiae attorney John E. Deaton believes the SEC will settle if Judge Failla grants the Coinbase motion to dismiss. “We’ve made the decision to integrate lightning,” Armstrong posted to X (Twitter), following criticism from Twitter founder Jack Dorsey that Coinbase was “ignoring” xcritical cheating the technology. All cryptocurrencies carry a certain level of risk, but you can invest confidently in Ripple if you have done your research and use the token to diversify your portfolio rather than bolster it. Ripple differs from Bitcoin because it values a more mainstream functionality. Unlike Bitcoin, which values anonymity and decentralization, Ripple has ties to banks and financial institutions.
- Ripple Labs is the subject of a lawsuit brought by U.S. financial regulators, alleging financial wrongdoing.
- Eighty percent of the validators have to agree to achieve consensus and include blocks on the XRP Ledger mainnet.
- On Sept. 12, Bankman-Fried’s request to overturn that decision was denied.
- In an IPO, a company that was privately held sells shares of itself to the public for the first time, usually on a stock market.
Crypto exchange Coinbase (COIN) has registered with the central bank of Spain to provide exchange and custody services in the country, the company announced Monday. The global economy may not be ready to face the worst-case scenario of the U.S. interest rate rising as high as 7% with stagflation, according to the CEO of investment banking giant JPMorgan (JPM), Jamie Dimon, Bloomberg reported on Tuesday. Since March 2022, the Federal Reserve has raised the benchmark borrowing cost by 525 basis points to the 5.25%-5.5% range to tame inflation. The so-called tightening cycle was partially responsible for last year’s crypto market crash.
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Once you have your Bitcoin in your account at Coinbase, you can buy Ripple. In your Coinbase account, simply click on Ripple (XRP) and place a trade. Bitcoin is far from the only cryptocurrency available on the market—alternatives like Ripple have popped up and begun to take market share from powerhouses like Bitcoin and Litecoin.
What is XRP Ledger’s Consensus Mechanism?
Purchasing a new cryptocurrency can be exciting, but it’s easy to get lost in the many terms and confusing processes. If you’re a beginning trader, you can also use Binance or Coinbase as an educational tool and learn more about Bitcoin alternatives by watching the platform’s live value charts. Coinbase suspended XRP trading on January 19 after the SEC accused Ripple Labs of unlawfully raking in more than $1.3 billion in profits by offering digital-asset securities that were not registered with the SEC.
It’s clear that this is not how SEC Chair Gary Gensler wants or expected this high-profile case to play out. Is that he’s jockeying to join the White House cabinet as the next secretary of the treasury — https://xcritical.online/ a role he’s reportedly had his eye on since he served in that agency under the Obama administration. The optics would be bad if a Gensler-run SEC lost its “slam-dunk case” to a feisty crypto startup.
Whatever the outcome, it will most likely affect all cryptocurrencies, not just XRP. This process allows government officials to trace the identity of account holders if a crime is committed. When you create a Coinbase account, you may be required to provide proof of your identity before you can use all the features of the platform, such as exchanging crypto for U.S. dollars. Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, xcritical website on-chain data, and governance across all major and minor blockchains. “It is hard to see our team’s work shared in this way because so much has changed and there’s so much to be excited about right now, and in the future,” Spencer posted to X (Twitter). “Several documents submitted in the court proceedings related to our proposed acquisition of Activision Blizzard were unintentionally disclosed,” head of Xbox at Microsoft, Phil Spencer, wrote in a memo to staff seen by The Verge.
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An appeals court rejected an attempt to overturn the ruling on Sep. 21. “This indicates potential fatigue among retail customers,” Mizuho managing director Dan Dolev wrote in a note to clients seen by CNBC. “Unlike in prior cycles, FOMO no longer entices investors to trade bitcoin when prices rise the way it did in prior years,” adding this could “prove problematic for [Coinbase].” There are hundreds of platforms around the world that are waiting to give you access to thousands of cryptocurrencies. Our experts have done the research to pick out the select few top crypto exchanges today. “As previously announced, Coinbase has suspended trading in XRP. Due to a technical issue, XRP was temporarily viewable on the Coinbase Pro mobile app for some customers but was not tradeable.”
The bitcoin price has swung wildly over the last few years, dragging the price of ethereum, BNB, … The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. Interestingly, Coinbase CEO Brian Amstrong has been relatively quiet about the XRP proceedings for months until this week when he made a bullish tweet to his nearly 890,000 followers on Twitter. “The Ripple case seems to be going better than expected. Meanwhile the SEC is realizing that attacking crypto is politically unpopular (because it harms consumers),” posted Armstrong.
More on Coinbase:
Check out Benzinga’s list of the best cryptocurrencies to invest in today, our beginner’s crash course in cryptocurrency mining and the best Coinbase alternatives. It was invented in 2012 as a way for banks and forex investors to quickly transfer money across international lines, the cryptocurrency has quickly risen in value. Ripple is a great choice if you’re a novice investor looking to get the most bang for your buck. Again, keep in mind that cryptocurrency is a highly volatile asset class. Trading is expected to start later on Thursday, Coinbase (COIN) said in a follow-up tweet, should liquidity conditions be met.
“Once sufficient supply of this asset is established trading on our XRP-USD, XRP-USDT and XRP-EUR trading pairs will launch in phases. Support for XRP may be restricted in some supported jurisdictions.” Additionally, this website may earn affiliate fees from advertising and links. We may receive a commission if you make a purchase or take action through these links.
He added, “The irony is that the people they are supposedly protecting are the ones attacking them.” Sign up today for Stock Advisor and get access to our exclusive report where you can get the full scoop on this company and its upside as a long-term investment. Learn more and get started today with a special new member discount. Depending on how much XRP you’d like to purchase, choose one of the pre-selected amounts ($10, $50, $100, $500, $1,000).