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SEC v. Ripple: Why the SEC Is Bent on Protecting Its Internal Documents

Mark Brennan
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SEC v. Ripple: Why the SEC Is Bent on Protecting Its Internal Documents

The cryptocurrency community has watched with anxiety the lawsuit between popular blockchain company Ripple and the United Securities and Exchange Commission (SEC). 



Since the blockchain company and two of its executives, Brad Garlinghouse and Chris Larsen, were charged by the SEC for conducting unregistered securities offerings in December 2020, several developments have surfaced over this time. 

SEC’s Abnormal Behavior in Protecting Its Internal Documents

For the majority of the lawsuit, the SEC has worked relentlessly to protect several of its internal documents from being used as a basis of influence of the Judge’s decision. 

SEC’s internal documents like Hinman’s 2018 speech and the Estabrook Notes, are considered vital toward putting an end to the more than one year lawsuit. 

However, the Securities and Exchange Commission has filed different motions to protect these “relevant” documents from being used, with the agency reiterating that they are protected by the Deliberative Privilege Process (DPP). 

The SEC argues that the documents represent individual opinions, and thus cannot be used as public guidance. 

Last week, the SEC also took advantage of a January 2022 DPP ruling, requesting that it need to redact documents from meetings between the agency and other third parties, a request that Ripple is yet to respond to. 

The SEC’s quest to protect some of its internal documents like Hinman and Estabrook has raised suspicions in the cryptocurrency community, with many people believing that the move is beyond the reasons the agency gave. 

Attorney Jeremy Hogan, a partner at the Hogan & Hogan law firm stated in a recent video stated that the SEC’s behavior toward protecting these internal documents is abnormal. 

SEC Staff Concludes XRP Is Not A Security

The documents, especially Hinman’s 2018 speech, according to Ripple, analyzed the company’s native cryptocurrency XRP and concluded that the coin is not a security but a currency. 

Interestingly, the SEC countered Ripple’s claims, stating that the information is personal and cannot be used as public guidance. 

Ripple Not Relenting

With the SEC bent on protecting these internal documents at all costs, Ripple is also planning to use a different approach to put an end to the lawsuit. 

Recall that Ripple had a major victory over the SEC when the court denied the latter’s motion to prevent the blockchain company from using the Fair Notice Defense. 

Following the win, Ripple can argue that it did not get any prior warning from the SEC that its cryptocurrency offering is a security. 

Ripple is also pushing forward to move over to a summary judgment to enable the court to have its say on the matter. 

Meanwhile, the SEC is not relenting, using different delay tactics to keep the lawsuit in the discovery phase.  

 

Shiba Inu Gaining Momentum As Shib Market Cap Is Now More Than GameStop, Domino’s Pizza, And GoDaddy

Zabi
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Shiba Inu Gaining Momentum As Shib Market Cap Is Now More Than GameStop, Domino’s Pizza, And GoDaddy

Shiba Inu (SHIB) Market Cap is Now More Than Texas Based Games and Entertainment Company GameStop (GME), and It’s Not a Joke.



Shiba Inu (SHIB), the most popular dog-themed cryptocurrency market worth, is now way more than Texas-based games and entertainment company GameStop (GME).

Shiba Inu (SHIB) is undoubtedly the most popular cryptocurrency in the world right now. This can be proved from one of the facts that the current market cap of SHIB stands at $14,411,622,474 (14.41B) and this is way more compared to the market capitalization of one of the famous US games and entertainment retail companies, GameStop, which at the moment is standing at $11.21B.

shiba inu marketcap

gamestop marketcap

Not only GameStop but Shiba Inu is now more valuable than most of the reputable companies trading on NYSE, including Robinhood Markets ($10.35B), Zynga (10.29B), Domino’s Pizza ($14.2B), GoDaddy ($14.1B), Discovery ($13.7B), News Corporation ($13.3B) among many others.

robinhood marketcap

dominio pizza

As per data provided by CoinMarketCap, Shiba Inu (SHIB) is currently ranked as the 15th biggest cryptocurrency in the world. The same dog-themed currency was brought into life by an anonymous creator named “Ryoshi” in August 2020.

In its early stages, SHIB was recognized as a joke by 99% of the people. But as time passed, SHIB proved those 99% people wrong and emerged as one of the successful experiments in decentralization as it showed jaw-dropping 46 million percent gains in 2021.

Following these extraordinary gains in less than a year, one strong community came into existence and started backing the Shiba Inu ecosystem. This community is now widely known as the “SHIB Army.”

With the help of this Army, SHIB now manages to get itself out of joke status and begins to undergo some severe developments in its ecosystem, i.e., from real-world use cases to community-led burning initiatives.

Every day, new businesses are adopting Shiba Inu as a payment method or the exchanges continuously adding support for SHIB on their platform for trading or staking purposes.

Shiba Inu is reported to be listed on 100+ exchanges, including major ones such as Coinbase, Crypto.com, Binance, Kucoin, Huobi Global, Kraken, and many others. More than 600 businesses worldwide are now accepting SHIB as a form of payment method.

Because of the dedicated community, Shiba Inu (SHIB) also manages to step into some real-life product lines like it has made the deep-rooted partnership with Welly’s, which turns out to be the first-ever SHIB-themed restaurant currently based in Italy. Later, SHIB entered the fashion industry by partnering with famous clothing brand John Richmond. John Richmond is an English fashion designer based in Italy.

Shiba Inu is also reported to be working on its first multiple card collectible game with PlaySide Studios, an Australian company under the supervision of William David Volk, former VP at Activision.

Besides all this, SHIB is also working on its metaverse (Codename: Shiberse) and has plans to bring its blockchain named “Shibarium” in the near future, aiming to diminish the gas fees issue. Higher gas fees believe to be one of the biggest hindrances in crypto adoption right now, and the community might see SHIB’s official stable cryptocurrency, “SHI,” coming soon, which is reported to be pegged at $0.01, unlike other stable coins.

All the above facts are some food for thought for those who still take Shiba Inu (SHIB) as a joke and no more than a meme coin.

Tether (USDT) Prints Over $1 Billion in Fours Days Pushing Bitcoin, Ethereum, And Crypto Market Up

Mark Brennan
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Tether (USDT) Prints Over $1 Billion in Fours Days Pushing Bitcoin, Ethereum, And Crypto Market Up

Tether (USDT) Prints Over $1 Billion in Fours Days, Suggesting Increased Traders’ Appetite.



Traders’ confidence has continued to grow recently across major cryptocurrency exchanges, as the number of user activities has skyrocketed on these platforms. 

With the level of buying and selling on cryptocurrency exchanges surging among crypto traders, the popular stable coin Tether (USDT) has been on a roller coaster in recent times. 

Tether Embarks on a USDT Minting Spree

The popular stablecoin issuer has been on a minting spree for the USDT coin to match the growing appetite of cryptocurrency enthusiasts, who have sought to convert the gains in their cryptocurrency holdings recorded so far to stablecoins to avoid suffering another significant loss for the year. 

Stablecoin printer reports that since the beginning of this month, Tether has been minting large volumes of USDT to match cryptocurrency traders’ conversion demands, with over $1.1 billion minted between March 24, 2022, and March 29, 2022. 

tether prints 1b in four days

Overall, Tether has minted above $1.8B USDT in March.

 

USDT Market Capitalization Surges

The increased activity for the stablecoin also led to a boost in the coin’s market capitalization. USDT, which had a valuation of $80.99 billion on March 25, 2022, has gained $430 million in less than three days, putting its total valuation at around $81.42 billion.

With the current market capitalization of USDT pegged around $81.42 billion, it implies that there are around 81.4 billion USDT coins in circulation since one unit of the stablecoin is pegged at $1. 

The market cap is of Tether jumps more than $1 Billion from March 26th to 27th, according to coinmarketcap.

tether marketcap chart
Seven days tether market cap chart

Interestingly, Tether’s current market capitalization comfortably puts the cryptocurrency in the third position in the global crypto rankings, according to CoinMarketCap data. 

USDT is leading the fourth cryptocurrency in the ranking, Binance Coin (BNB), with a difference of over $10 billion. The next stablecoin USD Coin in the ranking is trailing tether by nearly $30 billion.  

Crypto Market Valuation Increases 

The ratio of Tether stablecoins on exchanges is also rising. This increasing printing of Tether and growing exchange supply indicate a rising level of buying power accumulating on exchanges.

The result shows that the total cryptocurrency market has been up by 4.8% in the last 24 hours, with all eyes fixed on Bitcoin (BTC). 

BTC, which was trading around $44,000 yesterday, added $3,000, a move that pushed its price above $47,000 in the early hours of today. 

At the time of writing, Bitcoin is changing hands at $46,912. while Ethereum is trading above $3300, up 5.18%, BNB at $433 up 3.85%, XRP at $0.86, up 3.22%, ADA at $1.18 up 3.32%, SOL, LUNA and AVAX are all up 5% in 24 hours.

2.60 Billion Shiba Inu Burnt In 7 Days Helping Shib To Gain 15% On Weekly basis, 297M Shib Burned In 24 Hours

Zabi
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0
2.60 Billion Shiba Inu Burnt In 7 Days Helping Shib To Gain 15% On Weekly basis, 297M Shib Burned In 24 Hours

2.60 Billion Shiba Inu (SHIB) Tokens Burnt Within The Last 7 Days and 297.70 Million During Last 24 Hours.



As Shiba Inu (SHIB) token gains some serious burning momentum, summer starts well for the coin.

A whopping total of 2,604,802,620 (2.60B) SHIB tokens have been taken out of circulation forever within the last seven days and 297,703,474 (297.70M) in the past 24 hours.

Shibburn.com recently reported 191 transactions towards the dead wallet during the last week, through which 2,604,802,620 (2.60B) dog-themed token has been burned by community-led burning initiatives.

Record BURN Event of the Week:

The biggest Burn Event of the week was from ShibaBurn, a new token aiming to burn SHIB while using 5% of its tax fees collected from its holders. The event was covered live on Mathew G. Perry’s official Youtube Channel named “Let it Burn” and had set a new record as they have been able to burn 1 billion SHIB in just a single transaction.

Past 24 Hour Burn:

Besides this, seven transactions have been tracked by the SHIB burn tracking service within the last 24 hours. These seven transactions were responsible for burning 297,703,474 (297.70M) SHIB tokens. Six transactions destroyed 7.7M shib, while the biggest burn in 24 hours was 290M tokens taken out of circulation with one transaction.

As per data provided by Shibburn.com, a total of 410,308,350,345,615 (410.30T) Shiba Inu has been taken out of circulation forever from the initial supply of 1 quadrillion tokens. Whereas 39,657,610,091,180 (39.65B) of SHIB has been staked by holders on ShibaSwap. In this way, the current circulating supply of SHIB comes out to be 550,034,039,563,204 (550.03T) tokens.

Burn Impact on SHIB Price:

Shiba Inu token prices experienced a surge of 15.07% over the week as the burning of Shiba Inu tokens has started gaining momentum. At the time of writing, Shiba Inu’s price is trading at $0.00002629, up over 6% for the day, as per data provided by CoinMarketCap (CMC). The 24-hour trading volume for the most popular dog-themed cryptocurrency also surged 109.11% to $1,104,265,059 ($1.10B) compared to the previous trading day.

Solana (SOL) Overthrows Terra (LUNA) to Become 8th Largest Cryptocurrency

Lele Jima
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Solana (SOL) Overthrows Terra (LUNA) to Become 8th Largest Cryptocurrency

Solana (SOL) Overthrows Terra (LUNA).



Solana (SOL) has reclaimed its eighth spot in the global cryptocurrency rankings after overtaking Terra (LUNA) earlier today. 

The cryptocurrency has recorded a sensational rally in the last 24 hours, seeing it surge above 20.5% in the past day. 

At the time of writing, Solana is the eighth-largest cryptocurrency with a market capitalization of 34.8 billion, while Terra is now the ninth-largest coin in the global crypto ranking with a market valuation of $34.1 billion. 

A unit of SOL is currently changing hands around $108.36 across major and minor exchanges. 

It is worth noting that Solana was ranked behind Terra throughout this month and seems to be sitting behind the cryptocurrency, which gained massive adoption toward the end of last month. 

What’s Fueling Solana Rally

Several reports were instrumental in Solana’s massive rally. Last week, Solana was in the news for positive reasons after Grayscale Investments announced the launch of a smart contract platform fund for selected cryptos, including SOL with a lucrative ROI. 

At the same time, CoinShares, alongside cryptocurrency exchange FTX, collaborated to launch a physically-settled exchange-traded product (ETP) for Solana, a move that pushed its price above 5% moments after the announcement was made. 

The team behind Solana was clearly in no mood for relaxation when they announced a partnership with the creators of the popular video game PUBG: Battlegrounds, in a bid to develop and market more blockchain games. 

Why You Should Try Copy Trading in Crypto

Mark Brennan
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Why You Should Try Copy Trading in Crypto

If you’re looking to invest in cryptocurrency, there are many different options to choose from, including mining, staking, trading, and ICO investing. The one that most people ignore, however, is the best way to get into cryptocurrency trading—namely by copying the trades of successful investors who are already doing it with brokerages offering cryptoassets like eToro. Tip: you can check out this eToro wiki site from Wikitoro if you’re interested to know more about this brokerage.

So, are you interested to explore copy trading? Here’s why this strategy works so well and how you can start using it today:

What is Copy Trading?

Copy trading is a way to mimic an experienced trader’s moves—without actually having to learn how to trade. Traders offer their services on crypto copy-trading platforms, which match investors with traders whose strategies they want to follow. Once an investor copies a trader, his or her crypto assets are automatically traded according to that trader’s strategy. Many professionals who have made it big in crypto share their strategies and allow others to copy them for a fee. Copying these individuals can be a great way to potentially make lots of money over time (see Copying Profits). However, just like any other investment, it also carries risk; your portfolio may not necessarily grow as fast as you want if you choose an unwise leader. Be sure to do your research before choosing a professional trader!

How to Start Copy Trading

If you want to copy trade, start by registering an account on a crypto trading platform. When it comes to choosing a  platform, there are a lot of factors to consider: security and ease-of-use come first, but also how many cryptocurrencies you can trade with and how low (or high) your trading fees are. There’s no perfect answer here; each has their own benefits, so take your time researching what works best for you. Let’s say that you have your cryptocurrency exchange of choice, it’s time to set up your profile page. Each site is different, so be sure to follow their individual process, but most will require: enter basic information like name, email address etc., input link to a social media profile like Facebook or LinkedIn and even upload photos of yourself or a government issued ID. Next—and sometimes using an outside tool—generate 2-factor authentication codes for verification.

The Best Copy Trade Platforms

Copy trading allows you to replicate investments made by another person or group, without having to do all of your own research and work. If you want to replicate someone else’s success, copy trading is a great way to get started. There’s a lot of platforms available today but the best ones that are worth checking out are those that already have been in the business for years such as eToro, Pionex and Shrimpy. Most of these brands offer a demo account so you can test their platforms first before you decide to continue with their service.

Other Options to Earn Money from Crypto

There are a variety of options available to crypto investors who want to earn money from their investment. These include long-term hodling strategies, short-term trading (day or swing trading), arbitrage, and even copy trading. It’s important to understand what these all mean before taking any steps into the cryptocurrency markets; investing in cryptocurrency isn’t for everyone, after all.

The first step is deciding on a type of cryptocurrency to invest in; there’s no single best coin, but rather coins that have different use cases that appeal to different people.

When you think about copy trading, it sounds like an easy thing to do: find some people doing well in an industry, invest their money as they have, rinse and repeat until your account has grown over time. Unfortunately, it doesn’t always work out quite so simply (and hey—we can hardly blame those looking to make more money). In order to be successful when engaging in any form of copy trading (in crypto), there are several crucial steps you need to take into consideration. Although copy trading has made a name for itself as a way to minimize risk and make money, it’s still important to practice caution when using these services. While exchanges do their best to ensure security and correct pricing, you should never risk more than you can afford to lose. And always remember that while copy trading can save you money, it doesn’t protect you from buying at an inopportune time. Regardless of what happens with your investments, taking profit is sometimes an even more pressing concern.

Algorand Records Sensational Feats in Several Aspects, Settling Over 11M transactions in 7 days With Zero Downtime in 3 Years

Lele Jima
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0
Algorand Records Sensational Feats in Several Aspects, Settling Over 11M transactions in 7 days With Zero Downtime in 3 Years

Algorand Records Sensational Feats in Several Aspects.



Popular cryptocurrency project Algorand (ALGO) has been recording significant milestones in its recent performance. 

Algorand has transformed from an insignificant network into one capable of rivaling other popular blockchain projects like Ethereum, Solana, and Cardano. 

Recent stats have shown that Algorand is right on track to usurp these popular networks, as the team behind the project has been consistent in releasing important upgrades that have been instrumental in enhancing its performance. 

Algorand Tremendous Performance:

According to data on Algorand’s mainnet development portal, the network has completed a whopping 11.44 million transactions in the last seven days, representing an average of 1.63 million transactions daily. 

Algorand has been able to achieve this feat because of its ability to complete at least 19 transactions per second, which places the network as one of the fastest in the cryptocurrency industry. 

In recent years, the network’s outstanding performance has attracted numerous developers and crypto projects to choose the blockchain as a suitable platform to build.  

At the time of writing, there are over 11,000 developers currently building on Algorand, who have consistently shown confidence in the network because it is cost-effective, fast, and always available. 

Over the past three years, Algorand has not suffered any downtime, prompting both developers and investors to adopt the cryptocurrency. 

As reported, cryptocurrency-friendly city Miami acknowledged Algorand blockchain as a suitable platform to build an air quality monitoring network.  

Algorand’s sensational growth has also been acknowledged by investors, who have continued to adopt the network’s native cryptocurrency dubbed ALGO. 

The growing adoption of the ALGO coin is expressed by the total number of unique addresses, excluding exchanges, that have been created on the network. 

At press time, a total of 23.67 million addresses have been created on Algorand, with over 1.1 million active addresses recorded in the last 30 days.  

All-in-One Multi-Chain Decentralized Exchange EverSwap Adds Support For Shiba Inu

Zabi
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All-in-One Multi-Chain Decentralized Exchange EverSwap Adds Support For Shiba Inu

EverSwap, an All-in-One multi-chain decentralized exchange declared that they have officially listed Shiba Inu (SHIB) token against Ethereum.



Trading for SHIB/ETH pair becomes live soon after the announcement.

EverSwap is powered by EverRise (RISE) token, a multi-chain, collateralized cryptocurrency that powers the EverRise dApp ecosystem.

Both EverSwap and RISE tokens are a product of EverRise – a blockchain technology company that is on a mission to provide investors and developers with the maximum level of security along with access to the widest possible market. Following this mission, the company is continuously working on developing various tools and dApps.

According to the official website of EverRise, the EverRise ecosystem currently has developed 8 dApps and is in work. The list includes: EverOwn, EverBridge, EverSwap, EverStake, EverMigrate, EverSale, EverLock, and EverWallet.

Since RISE’s inception in June 2021, EverSwap is supposed to be the 5th dApp released in the EverRise ecosystem.

EverSwap currently works with PancakeSwap on Binance Smart Chain (BSC), QuickSwap on Polygon (MATIC), and UniSwap with Ethereum (ETH), and has the plans to expand to even more decentralized exchanges as they launch on more blockchains.

EverSwap also provides users with an innovative Native Coin Swap (NCS) functionality. This functionality enables users to swap any token that is listed at PancakeSwap (BSC), QuickSwap (Polygon), and UniSwap (Ethereum) between ETH (ERC-20), BNB (BEP-20), and MATIC (Polygon) in one easy step at block speed without the necessity for a centralized alternate.

New: Ripple (XRP) Requests More Time to Respond to SEC’s Proposed Redaction of Key Documents

Mark Brennan
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0
New: Ripple (XRP) Requests More Time to Respond to SEC’s Proposed Redaction of Key Documents

Ripple (XRP) Requests More Time to Respond to SEC’s Proposed Redaction of Key Documents.



Following the Securities and Exchange Commission’s request to redact certain portions of some meetings’ notes between the agency and third parties, Defendant, Ripple, has filed a motion seeking an extension of time to respond to the SEC’s proposed redaction. 

The blockchain company and Individual Defendants, Chris Larsen and Brad Garlinghouse, filed the motion yesterday, stating that it has received the SEC’s consent for an extension to the deadline to respond to the SEC’s request.

Ripple requested that the securities agency provide notes with the requested materials redacted to enable the blockchain company to access and determine whether there is a need for a redaction. 

The SEC agreed to provide the requested documents early next week following its request. Once the Defendants have received the documents, the parties have agreed that Ripple will be required to file a response to the SEC’s redaction request within three business working days, which is subject to the Court’s approval. 

It is worth noting that March 28, 2022, was set as the deadline for Ripple to file a response to the Securities and Exchange Commission’s letter. 

However, should the Court grant Ripple’s request, the company’s response could be filed by Friday next week. 

SEC Requests Redaction to Few Documents

Recall that on March 24, 2022, the SEC took advantage of January 13, 2022, Deliberative Process Privilege (DPP) ruling to request a redaction to some portions of selected meetings’ notes with third parties. 

The SEC noted that some portions of the documents it plans to edit are notes conveying the author’s personal opinion and deliberations among staff at the agency during the meetings. 

As reported earlier, some of the proposed redactions include Michael Seaman’s minutes of an April 2018 meeting, Valerie Szczepanik’s documents taken in a February 2014 meeting, and Jonathan Ingram’s notes of an April 2018 meeting.  

ETH Whale Just Bought 271 Billion Shiba Inu Worth $6.5M, Overall This Week Whales Accumulated 523 Billion Shib

Zabi
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0
ETH Whale Just Bought 271 Billion Shiba Inu Worth $6.5M, Overall This Week Whales Accumulated 523 Billion Shib

Three Ethereum Whales Accumulate 523.0 billion Shiba Inu (SHIB), worth 12.67 Million USD within This Week.



Ethereum whales continue to accumulate Shiba Inu (SHIB) aggressively amid the increase in SHIB use cases and the burning of tokens in play.

Since March 21st, in five days, three top Ethereum whale wallets have accumulated a whopping total of 523,398,811,224 (523.0B) SHIB tokens, worth $12,672,934 (12.67M).

As per WhaleStats data, the latest purchase was by the 207th biggest Ethereum whale that made one massive transaction and accumulated 271,370,420,630 (271.37B) Shiba Inu tokens for ,542,740 (6.54M). Looking deep into the whales’ wallet, we found that this mysterious whale portfolio mainly comprises stable coins such as USD Coin (USDC) and Tether (USDT), indicating that she may further continue accumulating different coins.

This week was one of the biggest in whales accumulation. On March 21st, the 4th biggest well-known ETH whale, “Tsunade,” was reported to gobble up 51,440,208,121 (51.44B) SHIB tokens in one significant transaction, for $1,185,696 ($1.18M) USD.

On March 24th, the 168th biggest whale of Ethereum recorded purchase of 200,588,182,473 (200B) Shiba Inu tokens, valued at $4,944,498 ($4.9M) in a single transaction.

Ethereum whales love to accumulate Shiba Inu because this most popular dog-themed cryptocurrency is undergoing many developments right now – especially it is experiencing an aggressive real-world use case with the help of new partnerships building up almost daily. Alongside use cases, there is some serious burning momentum building. The SHIB burn portal is being tested for its release, which will help every platform with a burning foundation and opportunity, except for Shiba Inu Games.

Shiba Inu x NOWPayments x Sorbillo x John Richmond x Welly:

Recently, Shiba Inu (SHIB) and LEASH were officially accepted as payment method via NOWPayments on all worldwide stores for Sorbillo, John Richmond, and the future Welly locations.

The news comes after NOWPayments added a new optional BURN feature for SHIB and LEASH. By using this feature, merchants will be able to burn a portion of the profits they receive in Shib or LEASH.

Latest SHIB Burning Record:

ShibaBurn, a new token, set a new record and took the SHIB burning to the next level. Through the scheduled Live Burn Event on March 22nd, the ShibaBurn-token had taken out 1 billion (1.0B) Shiba Inu tokens from circulation forever in just a single transaction.

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