bitstamp
Large Exchanges Relist XRP Following Ripple Victory Over SEC
Published
10 months agoon
By
adminIn a significant turn of events, large cryptocurrency exchanges Coinbase, Kraken, Bitstamp, and Gemini announced their decision to relist XRP after a significant legal victory for Ripple against the Securities and Exchange Commission (SEC).
This momentous decision comes as a result of the exchanges reevaluating their previous delisting of XRP, showcasing a renewed confidence in the token’s regulatory standing. This was brought about by the recent landmark court ruling by Judge Analisa Torres.
Coinbase, Kraken, And Bitstamp Reinstate XRP Trading
Coinbase, a leading cryptocurrency exchange, wasted no time in announcing the resumption of XRP trading following the court ruling. Brian Armstrong, the CEO of Coinbase, expressed the exchange’s decision in a tweet, stating:
“Coinbase will re-enable trading for XRP (XRP) on the XRP network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset remain available on @Coinbase & @CoinbaseExch.“
The reinstatement of the digital asset on Coinbase’s platform marks a significant shift in their position after delisting the token in January 2021. Kraken, another prominent exchange, also confirmed its plans to reinstate trading for the cryptocurrency, as Marco Santori, Kraken’ Legal Officer tweeted stated:
“1/ This morning, the Federal Court for the Southern District of New York ruled that XRP is not a security. As such, just a few minutes ago, Kraken re-enabled trading in XRP for US users.”
Bitstamp, an early adopter of XRP, joined the bandwagon, emphasizing its role as a leading liquidity venue for the asset globally as it confirms the return of the token on its exchange for US users.
Token holding majority of gains from Thursday | Source: XRPUSD on TradingView.com
Ripple’s Legal Battle And Market Impact
The court ruling stems from the SEC’s lawsuit against Ripple, which accused the company of conducting an unregistered securities offering through the sale and distribution of XRP.
Ripple chose to fight the lawsuit, investing substantial resources into the legal proceedings. The outcome of this case carries significant weight for the cryptocurrency industry, as it determines the regulatory oversight faced by digital asset firms.
Although Judge Torres’ recent summary judgment concluded that while Ripple’s initial sale of XRP to institutional investors could be classified as a securities offering, the subsequent trading of the tokens on crypto exchanges did not fall under the same classification.
This ruling provides a level of clarity regarding the regulatory status of the token and sets a precedent for similar cases involving other cryptocurrencies.
The market responded with enthusiasm to the court ruling as XRP experienced a surge in value, rising by over 75% compared to its price at the beginning of Thursday. Coinbase’s share prices also witnessed a significant jump of more than 24% following the ruling.
Featured image from iStock, chart from TradingView.com
Source link
You may like
Insight Into The Timing And Factors
Bitcoin About To ‘Blow Higher’ Despite This Week’s Pullback, According to Glassnode Co-Founders – Here’s Why
Azuro and Chiliz Working Together to Boost Adoption of Onchain Sport Prediction Markets – Blockchain News, Opinion, TV and Jobs
Robinhood Bleeds 164 Million Dogecoin
AIGOLD Goes Live, Introducing the First Gold Backed Crypto Project – Blockchain News, Opinion, TV and Jobs
Analyst Benjamin Cowen Warns Ethereum ‘Still Facing Headwinds,’ Says ETH Will Only Go Up if Bitcoin Does This
bitstamp
Bitstamp Makes Highly Anticipated XRP Announcement, But Does It Live Up To The Hype?
Published
10 months agoon
August 4, 2023By
adminOn Wednesday, August, 2, crypto exchange Bitstamp made a cryptic tweet teasing a new announcement and development for XRP. The exchange kept its promise and made the announcement. However, did it live up to the expectations and hype?
The Big Announcement
Popular digital asset exchange platform Bitstamp has recently unveiled its highly anticipated XRP announcement. The new feature allows users to stake their XRP holdings and earn long-term 2% APY in rewards. This offering is part of the platform’s creative Bitstamp Earn Lending Program, which offers users a reliable and secure means to lend their XRP holdings and earn rewards in return.
Bistamp’s lending service stands out because of its numerous benefits that provide participants with confidence in the whole lending procedure. Bitstamp will also not convert or lend users’ assets without explicit consent and instructions. To partake in XRP staking, users of the platform can easily navigate to the Earn Lending column on Bitstamp. While on the section, they will be offered an option to stake their XRP and earn the mouth-watering 2% APY rewards.
To bolster trust and entrench transparency, Bitstamp has partnered with Tesseract, a renowned firm that is specialized in exclusive lending to trusted borrowers. Tesseract will conduct thorough credit and risk evaluations on all prospective borrowers, thereby augmenting the general safety and reliability of the lending service.
Bitstamp will also render monthly performance reports to enhance transparency. The reports will cover key metrics, such as the risk profile of borrowers, portfolio concentration, and collateral levels.
XRP price shakes off Bistamp announcement | Source: XRPUSD on Tradingview.com
Members of XRP React
The recent announcement has sparked a wave of expectations and reactions within the XRP community. The announcement of the 2% APY on XRP lending has been met with disappointment as community members expected a more groundbreaking revelation.
Community members had previously speculated on the nature of the announcement, with some XRP proponents speculating that Bitstamp may consider a full integration with the XRP Ledger (XRPL) decentralized exchange (DEX).
Popular XRP community members like Dig Perspective emphasized that while the 2% APY looks good, the community expected something more remarkable.
No offense @Bitstamp. 2% is great but we were looking for a bit more,if you have it to share? https://t.co/0iinJWFYi6
— Digital PerspectivesPermaBull🪝 (@DigPerspectives) August 3, 2023
Whichever way it goes, it remains to be seen if Bitstamp will live up to its promises.
XRP’s price is currently trading at $0.66, representing a 0.65% and 7.17% decline on the daily and weekly charts, respectively.
Featured image from iStock, chart from Tradingview.com
Source link
Insight Into The Timing And Factors
Bitcoin About To ‘Blow Higher’ Despite This Week’s Pullback, According to Glassnode Co-Founders – Here’s Why
Azuro and Chiliz Working Together to Boost Adoption of Onchain Sport Prediction Markets – Blockchain News, Opinion, TV and Jobs
Robinhood Bleeds 164 Million Dogecoin
AIGOLD Goes Live, Introducing the First Gold Backed Crypto Project – Blockchain News, Opinion, TV and Jobs
Analyst Benjamin Cowen Warns Ethereum ‘Still Facing Headwinds,’ Says ETH Will Only Go Up if Bitcoin Does This
Tron Price Prediction: TRX Outperforms Bitcoin, Can It Hit $0.132?
Ethereum-Based Altcoin Leads Real-World Assets Sector in Development Activity, According to Santiment
Here’s Why This Analyst Is Predicting A Rise To $360
Hackers With $182,000,000 Stolen From Poloniex Starts Moving Funds to Tornado Cash
Cardano Faces Make-Or-Break Price Level For Bullish Revival
A Premier Crypto Exchange Tailored for Seasoned Traders – Blockchain News, Opinion, TV and Jobs
Crypto Whale Withdraws $75.8 Million in USDC From Coinbase To Invest In Ethereum’s Biggest Presale – Blockchain News, Opinion, TV and Jobs
CFTC Chair Says ‘Another Cycle of Enforcement Actions’ Coming As Crypto Enters New Phase of Asset Appreciation
Spectral Labs Joins Hugging Face’s ESP Program to advance the Onchain x Open-Source AI Community – Blockchain News, Opinion, TV and Jobs
Bitcoin Dropped Below 2017 All-Time-High but Could Sellers be Getting Exhausted? – Blockchain News, Opinion, TV and Jobs
What does the Coinbase Premium Gap Tell us about Investor Activity? – Blockchain News, Opinion, TV and Jobs
BNM DAO Token Airdrop
NFT Sector Keeps Developing – Number of Unique Ethereum NFT Traders Surged 276% in 2022 – Blockchain News, Opinion, TV and Jobs
New Minting Services
Block News Media Live Stream
A String of 200 ‘Sleeping Bitcoins’ From 2010 Worth $4.27 Million Moved on Friday
SEC’s Chairman Gensler Takes Aggressive Stance on Tokens – Blockchain News, Opinion, TV and Jobs
Friends or Enemies? – Blockchain News, Opinion, TV and Jobs
Enjoy frictionless crypto purchases with Apple Pay and Google Pay | by Jim | @blockchain | Jun, 2022
Block News Media Live Stream
How Web3 can prevent Hollywood strikes
Block News Media Live Stream
XRP Explodes With 1,300% Surge In Trading Volume As crypto Exchanges Jump On Board
Block News Media Live Stream
Trending
- Altcoins2 years ago
Bitcoin Dropped Below 2017 All-Time-High but Could Sellers be Getting Exhausted? – Blockchain News, Opinion, TV and Jobs
- Binance2 years ago
What does the Coinbase Premium Gap Tell us about Investor Activity? – Blockchain News, Opinion, TV and Jobs
- Uncategorized2 years ago
BNM DAO Token Airdrop
- BTC1 year ago
NFT Sector Keeps Developing – Number of Unique Ethereum NFT Traders Surged 276% in 2022 – Blockchain News, Opinion, TV and Jobs
- Uncategorized3 years ago
New Minting Services
- Video2 years ago
Block News Media Live Stream
- Bitcoin miners2 years ago
A String of 200 ‘Sleeping Bitcoins’ From 2010 Worth $4.27 Million Moved on Friday
- Bitcoin1 year ago
SEC’s Chairman Gensler Takes Aggressive Stance on Tokens – Blockchain News, Opinion, TV and Jobs