Confusion with XRP - what is it all about?
Hi. Recently, the price of XRP has soared ... unfortunately deep south. While browsing the internet, I came across information that the SEC had filed a lawsuit against Ripple and its founders. What is it actually about? Why was there such a storm on the web and the price reacted with such a big drop? Thanks for the hints
Hi. Recently, the price of XRP has soared ... unfortunately deep south. While browsing the internet, I came across information that the SEC had filed a lawsuit against Ripple and its founders. What is it actually about? Why was there such a storm on the web and the price reacted with such a big drop? Thanks for the hints
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The US Investor Protection and Regulatory Agency (SEC) has found that Ripple Labs has issued unregistered securities for Ripple (XRP) tokens. XRP founders Chris Larsen and Brad Garlinghouse sold nearly $1.5 billion worth of assets. The sale of billions of XRP tokens began in 2013. However, they have not been officially registered with the Securities and Exchange Commission (SEC).
In addition, Larsen and Garlinghouse sold coins to increase their private capital. The wealth of top managers increased by $ 600 million. At the same time, Ripple Labs also spent several billion XRP tokens on employee salaries, market creation, and other expenses. The SEC wants to solve the problem in this way: a court order, the confiscation of illegal proceeds and the imposition of multimillion-dollar fines on the company.
Multiple exchanges and platforms offering the sale of Xrp tokens, including Crypto.com, Coinbase and OKCoin, Binance US announced the suspension of XRP token trading. Hence such a sharp drop in the token's valuation and investors' panic.
The US Investor Protection and Regulatory Agency (SEC) has found that Ripple Labs has issued unregistered securities for Ripple (XRP) tokens. XRP founders Chris Larsen and Brad Garlinghouse sold nearly $1.5 billion worth of assets. The sale of billions of XRP tokens began in 2013. However, they have not been officially registered with the Securities and Exchange Commission (SEC).
In addition, Larsen and Garlinghouse sold coins to increase their private capital. The wealth of top managers increased by $ 600 million. At the same time, Ripple Labs also spent several billion XRP tokens on employee salaries, market creation, and other expenses. The SEC wants to solve the problem in this way: a court order, the confiscation of illegal proceeds and the imposition of multimillion-dollar fines on the company.
Multiple exchanges and platforms offering the sale of Xrp tokens, including Crypto.com, Coinbase and OKCoin, Binance US announced the suspension of XRP token trading. Hence such a sharp drop in the token's valuation and investors' panic.
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