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XRP NEWS: WHO IS THE SEC PROTECTING IN THE RIPPLE LAWSUIT?
In a recent interview, James Murphy, known as Metalawman, discussed the ongoing lawsuit involving the SEC and Ripple. He answered an important question: who exactly is the SEC defending in this case?
On The Good Morning Crypto Show, he was questioned whether the SEC is claiming to protect regular retail investors by targeting Ripple or if they are actually looking out for the institutional investors who got in early and profited significantly since 2014.
The SEC’s True Motives: Protecting Whom?
Murphy pointed out that while the SEC’s mission is to protect investors and promote orderly financial markets, the reality is different.
The agency isn’t acting on behalf of retail XRP holders or the institutions that bought XRP at a discount. In fact, none of the institutions have ever sued Ripple for alleged securities violations because their investments have been profitable.
The legal expert argued that the SEC’s lawsuit should never have been initiated. He explained that the SEC has limited resources and should focus on cases with clear violations.
In the crypto space, where scams and fraudulent schemes abound, the SEC chose to pursue a case with no real damages or losses involved.
He also compared this situation to the case against Coinbase, a publicly traded company with transparent financial reporting, suggesting that the SEC is not helping anyone with these actions.
Murphy concluded that, without any losses suffered by victims, it would be impossible to return any funds, which raises questions about the validity of the case itself.
The Ripple Effect: Implications for XRP Holders
The legal battle between Ripple and the SEC continues, with both sides preparing for appeals. The SEC plans to challenge the district court’s findings, while Ripple intends to file a cross-appeal regarding the SEC’s claims. Despite ongoing regulatory challenges, XRP’s price has remained stable at around 54 cents.
@ Newshounds News™
Source: CoinPedia
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STRIPE BUYS STABLECOIN PLATFORM BRIDGE IN RECORD-BREAKING $1.1B DEAL: REPORT
The deal highlights Stripe’s growing focus on crypto, following its recent integration of USDC and partnership with Coinbase’s Base network.
Fintech giant Stripe has finalized a deal to acquire stablecoin platform Bridge for $1.1 billion.
This purchase marks the largest acquisition in the crypto industry to date.
Record $1.1 Billion Deal
TechCrunch founder Michael Arrington revealed the news in a post on X, stating, “This deal is done. $1.1b.”
Bridge, co-founded by Sean Yu and Zach Abrams, provides software tools enabling businesses to accept payments in stablecoins. The platform allows companies to create, store, send, and receive such assets.
Zach Abrams previously served as Head of Consumer at Coinbase and founded the peer-to-peer payments company Evenly, which was later acquired by Square. Before co-founding Bridge, Sean Yu held key engineering roles at major companies such as Coinbase, Square, DoorDash, and Airbnb.
Earlier this year, the startup received $58 million in funding from prominent investors, including Sequoia, Haun Ventures, Ribbit, and Index Ventures. According to Forbes, this included a $40 million Series A funding round that valued the company at $200 million. It means that Stripe’s $1.1 billion acquisition is a major bump from Bridge’s previous worth.
Launched in August, the firm said in a statement that its mission is to address the financial challenges posed by local currencies in an interconnected global economy. Bridge aims to overcome these obstacles by leveraging stablecoins, which offer faster, more affordable, and accessible payment solutions.
Stripe’s Growing Crypto Focus
Stripe, a payment processing platform that enables businesses to accept credit, debit, and other online payments, has been aggressively expanding its presence in the cryptocurrency space.
Just six months ago, the co-founder John Collison announced that the company would start supporting global stablecoin payments. This materialized when it integrated Circle’s USD Coin (USDC) into its payment interface two weeks ago.
In June, the payment processing firm also partnered with Coinbase. This introduced three new features, including the integration of the exchange’s Base Layer 2 network into its crypto payment products.
Stripe has also integrated USDC on Base into its fiat-to-crypto onramp, allowing faster conversion of fiat funds to crypto for its U.S. customers. Coinbase also agreed to include Stripe as a payment option for customers buying digital assets through its Coinbase Wallet.
In March 2024, the company reported passing $1 trillion in total payment volume for the year, with businesses using the platform accounting for roughly 1% of global GDP.
@ Newshounds News™
Source: CryptoPotato
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🌱 OKIE EXPLAINS 13303 AND WAS THERE. THIS IS YOUR HISTORY ALSO ON DINAR. | Youtube
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Source: Seeds of Wisdom Team RV Currency Facts
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🌱 FUNDRAISER FOR OKIE DETAILS BELOW | Youtube
We are sending Okie a care package with some good food. If you would like to donate, he appreciated it before and will again. He has only asked for prayers. Thank you for your kindness. Thank You for Your Kindness! Okie Donation Link and info
https://www.seedsofwisdomteam.com/#ok…
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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