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RIPPLE IPO ON THE HORIZON? SBI CEO URGES ACTION AS XRP LAWSUIT HEATS UP
XRP surged above $1.20 over the weekend, marking an 87% weekly gain and hitting a three-year high. The rally gained momentum after 18 U.S. states sued the SEC and its chairman, Gary Gensler, accusing the agency of overreaching in its regulation of the crypto industry. This significant development reignited discussions around Ripple’s potential Initial Public Offering (IPO).
With Trump’s win, many speculations are doing the rounds like the Ripple vs SEC case dismissal, IPO, and Stablecoin launch. Since the regulatory matters are at ease, there are chances that Ripple may come with an IPO soon to maximize the current bull run.
SBI CEO Pushes for Ripple’s IPO
Yoshitaka Kitao, CEO of SBI Holdings, has urged Ripple to start preparing for an IPO “as soon as possible” once its legal battle with the SEC concludes. Ripple has been entangled in a prolonged lawsuit with the SEC, which recently filed an appeal in October. However, many analysts speculate that the SEC’s internal shake-ups could lead to the appeal being dropped, clearing Ripple’s path for a public offering.
Brad Garlinghouse’s Take on IPO Plans
Ripple CEO Brad Garlinghouse has reiterated that while an IPO is not currently a “high priority,” he hasn’t ruled it out entirely. In 2022, he mentioned that Ripple would consider going public after resolving the SEC lawsuit. Though Ripple’s financial stability reduces the immediate need for an IPO, Garlinghouse had earlier envisioned the company going public within a year, a timeline disrupted by ongoing legal challenges.
Ripple Co-Founder Transfers XRP
Amid XRP’s price rally, Ripple co-founder Arthur Britto moved 80 million XRP tokens, with 10 million heading to Binance. This movement has sparked speculation within the community about Ripple’s potential plans, including whether the company is inching closer to an IPO.
Ripple’s Future at a Crossroads
While the IPO discussion gains traction, Ripple remains in a “wait-and-see” mode. The company’s past plans for an IPO were derailed by the SEC lawsuit, but recent legal and market developments may bring the idea back into focus. With regulatory hurdles potentially easing, Ripple’s IPO could mark a historic shift in its trajectory, offering investors a new avenue to engage with the blockchain leader.
In the meanwhile, XRP surged by 25% today, nearing the local resistance level of $1.0739. If buyers maintain momentum, a breakout could push the price to $1.10 and potentially to the $1.15-$1.20 range next week. However, if the weekly candle closes far from this resistance, a correction to the $0.90-$0.95 zone may occur. At press time, XRP trades at $1.0522.
@ Newshounds News™
Source: Coinpedia
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CRYPTO.COM EXPANDS OFFERINGS WITH ACQUISITION IN AUSTRALIA
Crypto.com has announced its acquisition of Fintek Securities Pty Ltd., a brokerage firm with an Australian Financial Services Licence regulated by the Australian Securities and Investments Commission.
This move allows Crypto.com to broaden its financial product offerings, including derivatives, securities, foreign exchange, and managed investment schemes, to eligible users.
CEO Kris Marszalek highlighted the acquisition as a key step in the company’s mission to create a comprehensive financial services platform that simplifies user experiences and maximizes rewards.
This acquisition marks the second by Crypto.com to enhance traditional brokerage capabilities within its family of companies, following its earlier acquisition of SEC-registered broker-dealer Watchdog Capital, LLC, aimed at expanding its U.S. offerings.
@ Newshounds News™
Source: Bitcoin News
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SEC CHAIR GARY GENSLER’S BEHAVIOR CANNOT BE CHALKED OFF AS ‘GOOD FAITH MISTAKES,’ SAYS TYLER WINKLEVOSS
Winklevoss believes that Gary Gensler should never be allowed to hold any position of influence to prevent future misuse of government power.
The actions of the U.S. Securities and Exchange Commission (SEC) chair Gary Gensler cannot be “explained away” as “good faith mistakes,” former Olympic rower and crypto exchange Gemini co-founder Tyler Winklevoss wrote in a post on X on Saturday. He added:
“It [Gensler’s actions] was entirely thought out, intentional, and purposeful to fulfill his personal, political agenda at any cost.”
Gensler carried out his actions regardless of consequences, Winklevoss said, calling Gensler “evil.” Gensler did not care if his actions meant “nuking an industry, tens of thousands of jobs, people’s livelihoods, billions of invested capital, and more.”
Winklevoss further stated that Gensler has caused irrevocable damage to the crypto industry and the country, which no “amount of apology can undo.”
Venting his frustration, Winklevoss wrote:
“Americans have had enough of their tax dollars going towards a government that is supposed to protect them, but instead is wielded against them by politicians looking to advance their careers.”
Winklevoss believes that Gensler should not be allowed to hold any position at “any institution, big or small.” He added that Gensler “should never again have a position of influence, power, or consequence.”
In fact, Winklevoss said that any institution, whether a company or university, that hires or works with Gensler after his stint at the SEC “is betraying the crypto industry and should be boycotted aggressively.”
According to Winklevoss, stopping Gensler from gaining any power again is the “only way” to prevent misuse of government power in the future. Winklevoss has long been a vocal critic of the SEC and Gensler, who he believes uses the ‘regulation through enforcement’ doctrine.
Winklevoss is far from being the only one accusing the SEC of abusing its powers. Earlier this week, 18 U.S. states, filed a lawsuit against the SEC and Gensler, alleging “gross government overreach.”
Republican President-elect Donald Trump promised to fire Gensler on his first day back at the White House during his election campaign. The Winklevoss brothers donated the maximum allowed amount per individual to Trump’s campaign.
The SEC is an independent agency, which means the President does not have the authority to fire Gensler. However, Gensler’s term ends in July 2025.
Trump transition team officials are preparing a short list of key financial agency heads they will present to the president-elect soon, Reuters reported earlier this month citing people familiar with the matter. So far, there are three contenders for the list: Dan Gallagher, former SEC commissioner and current chief legal and compliance officer at Robinhood; Paul Atkins, former SEC commissioner and CEO of consultancy firm Patomak Global Partners; and Robert Stebbins, a partner at law firm Willkie Farr & Gallagher who served as SEC general counsel during Trump’s first presidency.
While nothing is set in stone yet, Gallagher is the frontrunner, according to the report.
@ Newshounds News™
Source: CryptoSlate
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🌱ORIGINAL DESCRIPTIONS #CONSTITUTION #SOVEREIGNTY | Youtube
Mason gives us some history on our Constitution and who we are. A very important message.
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble
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