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🥁 Is the XRP Ruling Good for Crypto?

Ex-Celsius CEO arrested, Binance lays off 1000 workers, and more!

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BEN Beats
July 15, 2023

Read time: 4 minutes

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🥁 Is the XRP Ruling Good for Crypto?

Yesterday U.S. judge Analisa Torres issued a pre-trial ruling in the SEC’s lawsuit against Ripple.

The judge ruled that the XRP token is not a security with regards to it being sold on public exchanges.

BUT…the judge ruled that XRP IS a security when it came to selling $728 million of XRP to institutional investors.

If this is confusing, welcome to securities laws! The Ripple vs. SEC case is going to trial to investigate further. The token itself XRP is ok, the trick seems to be who is being sold to and how.

Overall, this is positive for the crypto industry, and the market agrees, with XRP up 75% in less than 24 hours. Kraken, Binance.US and Coinbase have relisted XRP. Gemini is considering it.

With this ruling, it seems the other tokens in the SEC lawsuits against Binance and Coinbase case could ultimately be considered not securities too.

Meme Break 😌

🗞️ Trending News

  1. Binance Cut 1,000 Workers in Recent Weeks. Unfortunately the layoffs are continuing.

  2. Alex Mashinsky’s Bail Set at $40M, Travel Restricted. The former Celsius CEO was arrested yesterday for alleged wire fraud, commodities fraud, and securities price manipulation.

  3. Celsius Moves $65M in LINK, MATIC, AAVE, and Altcoins Following Court Permission to Sell Tokens. The bankrupt lender could start cashing out some $170m of smaller cryptocurrencies.

  4. Nexo in Court With a Co-Founder Over $12M in Missing Assets. Supposedly the $12m is held in a missing Ledger hardware wallet.

  5. Coinbase CEO Brian Armstrong Asks Twitter Followers if Their Bank of America Accounts Were Closed Because of Crypto Transactions. 1,200 people said yes!

  6. Argentina’s First Bitcoin Futures Contract Officially Goes Live. Great news for crypto investors in Argentina, and crypto adoption across Latin America.

  7. Telegram Merchants Gain Access to In-App Crypto Payments for First Time. Built on the TON blockchain, 2 million of 700+ million Telegram users use the Telegram’s Wallet services.

  8. Google Plays Nice With NFTs, Starbucks Puts Ex-MLB Star’s NFT Project on Deck. Google is allowing NFTs in games in its play store, let’s see if developers start adding NFTs to their games.

  9. SEGA Moves Away from Blockchain Games. The COO confirmed it, but they are still planning to let some of their characters be licensed as NFTs.

  10. BlackRock CEO Larry Fink Talks UP Crypto Demand From Gold Investors. He says “more and more” gold investors are asking about crypto. Wish we had an exact number.

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