Home Blog Page 2432

1.63 Billion Shiba Inu Burned Last Week, 175 Million IN 24 Hours, While Another 1 Billion Shib Burn Upcoming

Zabi
-
0
1.63 Billion Shiba Inu Burned Last Week, 175 Million IN 24 Hours, While Another 1 Billion Shib Burn Upcoming

Shiba Inu (SHIB) Achieves Major Burning Milestone; Over 1.63 Billion SHIB Tokens went Out of Circulation Forever in Past Week.



This was the record week for Shiba Inu (SHIB) in terms of Burning. 1.63B tokens have been successfully taken out of circulation forever within the last seven days by the Shiba Inu Community.

Community-led burning initiatives achieved a significant milestone last week as Shibburn’s recent data revealed that more than 1.63 Billion SHIB tokens had been destroyed within the previous seven days. To be precise, 1,633,542,121 SHIB tokens have been reported as “Burned” with 55 transactions last week.

Three community-led burning initiatives, including non-related and unofficial Shiba tokens ETH SHIBA and 1CENT, prove the driving force in achieving a massive milestone. The third community-led burning initiative name is SHIB Super Store, formerly (Accomplished_Key), a developer of Brick Buster and Candy Trips, games available to play on Google Play Store.

On the first day of the past week, i.e., Monday, March 14, 2022, the two non-related and unofficial Shiba Inu tokens ETH SHIB and 1CENT acclaimed that they have completed their first SHIB BURN EVENT by sending 400,068,259 (400M) and 327,564,569 (327M) SHIB tokens respectively to the dead wallet.

These tokens claim that they will use 1% of all buy-side transaction fees to burn SHIB. However, readers should note that both these tokens have no official relation with Shiba Inu (SHIB) and are just two weeks old, taking advantage of the already popular SHIB coin.

Following this enormous burn of over 727 million SHIB tokens in just two transactions, another individual community-led burning initiative named SHIB Super Store organized SHIB Burn Event on March 17. They successfully sent 595,232,837 (595M) SHIB tokens worth $13,118 to the Null address.

SHIB Super Store uses different methods to burn SHIB. Their primary source of revenue to burn SHIB tokens are two games named Bricks Buster and Candy Trips available to play on Google Play Store. Anyone can burn SHIB while playing these games on their mobile phones and contribute to SHIB Burn.

Last 24 Hour Burns:

According to shib burn, In the past 24 hours, there have been a total of 175,109,831 (175M) SHIB tokens burned and 87 transactions.

Upcoming 1 Billion Token Burn:

This ongoing week will be another massive success as another non-related Shiba Inu token named “Shiba Burn” will organize a Burn Party event on 22nd March 2022. The token claims that they’re going to burn a whopping 1 billion tokens in just a single transaction during this party.

 

At the time of writing, the Shiba Inu token is trading at the price of $0.00002274, down over 4% for the day with a 24-hour trading volume of $1,105,717,915.

Crypto Mining Made Easy For Everyone

Albert Brown
-
0
Crypto Mining Made Easy For Everyone

Crypto mining has been developed as a way to mine cryptocurrency by using rented cloud computing power without having the need to install or directly run any related software or hardware.


People can remotely participate in cryptocurrency mining by opening an account and paying a minimal cost. Thus, cloud mining firms have made mining more accessible and profitable for a larger group of people.

Traditionally, mining can be a tedious process that can be expensive and time-consuming for an individual, it is also a difficult area to break into for a novice or beginner without the correct how-know. Cloud mining firms that provide a server that is already set up make the process of cloud mining very easy and open to anyone who wants to become a miner.

Minedollars is one such platform and it has launched a new campaign that rewards all users with a sign-up bonus of $10 that can be withdrawn immediately. The cloud mining platform also offers a referral program where you get a 3% commission for referring friends and family.

What is Minedollars?

Minedollars is a cloud mining platform that was created in 2020 and allows anyone to start crypto mining without the need for any technical skill or knowledge. The company has data centers in different parts of the world, including Asia, Europe, and America. The mining farms’ location is in regions with cheap electricity costs and allows Minedollars to offer low cloud mining fees.

Users on Minedollars earn profits daily and can start with a minimum deposit of $100. The average profitability starts from 121% and can go up to 156% depending upon the type of miners.

Mining using Minedollars

The mining process is made easy using Minedollars, users just need to create an account and verify their identity. After this, they are ready to start renting a miner and make an investment.

Once this is done, users can earn a passive income on their investment and also monitor the statistics, they can also withdraw their earnings. The entire registration process is quick and users can rent a miner and start earning almost instantly. Users can also control their miners easily with their mobile phones or desktops.

The $100 investment offers a reward of $6 within a contract period of 3 days. Minedollars offers other mining plans with different periods and rewards.Investing $420 offers a reward of $64 within a contract period of 7 days while Investing $1200 comes with a bonus of $380 within 14 days. At the end of the contract period, you can immediately withdraw your capital and profit or increase the capital for long-term investments. Minedollars offers full guarantee of principal and interests for each investment.

Security regulations

Minedollars follows FCA (Financial Conduct Authority) regulation and also operates under CySEC (Cyprus Securities and Exchange Commission) and ASIC (Australian Securities and Investments Commission). The FCA regulates financial services, firms, and markets for the fair treatment of consumers.

In conclusion, Minedollars is the perfect crypto mining platform for crypto enthusiasts that want to increase their earning opportunities. It offers full guarantee for all investments and has a team of qualified analysts and experts working daily to ensure consistent customer rewards. 

For more information check out their website:http://minedollars.com.

FamDAO, the Multi-Chain Family Solution, Announces Funding Plans by Leading Partners

Albert Brown
-
0
FamDAO, the Multi-Chain Family Solution, Announces Funding Plans by Leading Partners

What are DAOs: A look into the History, and the Evolution of Money.


From time memorial, the way to make money was ‘work-to-earn’. However, the future of making money will be X-to-earn, as we can see from Axie Infinity’s Play-to-Earn (AXS), Learn-to-Earn, and Create-to-Earn (NFTs) models. These can be coordinated by decentralized autonomous organizations (DAOs) that allow communities to vote and to grow consensus for new activities outside the context of corporate systems.

What is Vote-to-Earn?

By voting in a DAO, voters can send their collective decisions to coordinate the different functions of the earning opportunities. FamDAO token holders of a specific range-bounded amount are able to formulate proposals and to submit them for voting, including voting for financial frameworks that allow the FAMILY treasury to produce investment returns to the FamDAO members.

The Future of Work – Envisioned by FamDAO

FamDAO has been preparing a series of feature deployments throughout the month of March in preparation for the official launch in the near future.

Earlier this week, FamDAO released its tokenomics and platform development roadmap to much fanfare. FamDAO is an innovative decentralized reserve currency protocol based on the $FAM token. Each $FAM token is backed by a basket of assets (eg. USDT) in the FAMILY treasury, giving it an intrinsic value that it cannot fall below. As a community-driven DAO that introduces unique economic and game-theoretic dynamics into the market through staking and bonding, FamDAO plays a critical role for creating a sustainable reserve currency while optimizing for short and long term wealth creation for holders of the $FAM token.

This milestone is a major progression for the FamDAO as it prepares for its public launch. 

Huge Goals for FamDAO – Building a Currency System with the Support from Partners

FamDAO’s goal is to build a policy-controlled currency system. Moreover, FamDAO is already in talks with several notable capital groups, such as, AngelOne, ANFS Foundation, BTX Capital, Polygon Network, Winkrypto, BTX, Ceras Ventures, and numerous others in their funding round. 

James Tsui from ANFS Foundation said, “ANFS is proud to be supporting FamDAO in their Web3.0 mission to make an altruistic DAO that is robust and meaningful. Their project development in building a metaverse ecosystem and refreshing community rewards by attributing liquidity to staking pools, are game-changing for the industry.” 

FamDAO and Beyond

Since its conceptualisation in late 2021, FamDAO has grown exponentially by building a strong and active community and launching their social networks and official website. FamDAO Members are eagerly awaiting the release of the $FAM Token. The funds raised will go towards accelerating FamDAO’s growth by:

  1. Expanding FamDAO’s blockchain and protocol coverage
  2. Building more products and features for FamDAO Community
  3. Scaling its infrastructure to a seamless and low latency platform – critical to trading functions
  4. Building and growing an innovative community through incentive programs

“We are grateful to have generated such strong interest in our DAO project, with partners sharing strong networks across the cryptocurrency and traditional finance ecosystems. This has truly encouraged us to push through and execute our vision to help users as a FAMILY,” said a FamDAO spokesperson.

Find out more about FamDAO:

Website: https://fam-dao.club/

Twitter: https://twitter.com/FAM_DAO

Telegram: https://t.me/famdao

How Many Bitcoins Are There and How Many Are Left to Mine?

Andrew MacGill
-
0
How Many Bitcoins Are There and How Many Are Left to Mine?

Table of Contents:

  • How Many Bitcoins Are There and How Many Are Left to Mine?
    • Bitcoin Mining
    • How Many Bitcoins Are There In Circulation?
    • How Many Bitcoins Are Left to Mine?
    • When Will the Last Bitcoin be Minted?
    • What Happens Next When Bitcoin Hits Its Capped Number?
    • Conclusion

How Many Bitcoins Are There and How Many Are Left to Mine?

The birth of Bitcoin is traceable to Satoshi Nakamoto who launched the crypto project in 2009. While his identity remains unknown, he played a major role in the development of Bitcoin. 

During the early days of Bitcoin, most financial analysts didn’t see it as a potential investment that could yield massive returns on investment. However, after the launch of Bitcoin, other crypto projects, like Ethereum, Ripple, and many other cryptocurrencies, began to emerge.

Digital currencies experienced a rapid surge over the years. Tesla’s press release about buying $1.5 billion worth of Bitcoin in February 2021 fueled mass interest in cryptocurrency. Further institutional interest propelled Bitcoin to an all-time high of $68,52 on November 5, 2021.

Bitcoin has a limited supply, unlike fiat currencies like the U.S dollar that can be printed at will by banks. 

So how many Bitcoins are there in the world and how many are left to mine? Here’s what you need to know.

Bitcoin Mining

There are three ways in which one can get bitcoin.

  • Buying bitcoin from an exchange
  • Accepting crypto as payment for goods and services 
  • Mining

Among these three, mining is perhaps the most interesting way to get Bitcoin.

Bitcoin mining involves validating transactions on a network and adding it to a blockchain ledger. It also refers to using computers to solve complex cryptographic puzzles and to verify blocks of transactions on the blockchain ledger.

Once a miner successfully solves the hash puzzle, a new block is created and validated in the Bitcoin network. The architecture of Bitcoin is such that a new block evolves every 10 minutes.

Many miners are trying to solve the hash puzzle, but the first miner to successfully solve it receives Bitcoin as a reward. This process increases the number of Bitcoin in circulation.

Although Bitcoin mining is a profitable business, the amount of profit made is dependent on the amount of input invested into it. To mine bitcoin, you would need a network base, electricity, and mining system. The cost of these inputs shouldn’t be more than the price of the bitcoin mined to maximize profits. 

You might be thinking about what will happen to Bitcoin mining after discovering the last block since its supply is finite, right? 

Well, keep reading to find out.

How Many Bitcoins Are There In Circulation?

Satoshi Nakamoto, the inventor of Bitcoin, capped the number of bitcoin at 21 million. What this means is that the totality of bitcoin in circulation will not exceed 21 million.

With about 900 bitcoins mined daily, the amount released by each block reduces by 50% every four years. As of December 2021, there were 18.899 million in circulation. The limited supply of bitcoin makes it scarce, and it also controls possible inflation that may occur due to the limited supply of the cryptocurrency.

According to experts, the economy of bitcoin will change when it hits its capped number. Beyond the rewards for creating blocks, miners receive incentives from transaction fees. But there might be a reduction in the mining rewards, and trading activities might take a new leaf. 

The transaction fee to validate a transaction varies according to the network congestion and the size of the transaction. Most miners tend to prioritize transactions by the highest transaction fee. 

For example, miners might have to rely less on the rewards from block discovery and rely more on transaction fees to earn revenue. So once there is no more bitcoin to mine, the transaction fee should be enough for the miner to continue running the network.

The entire cryptocurrency ecosystem might also experience a new shift and spark interest from more participants different from the current retail traders.   

However, it is difficult to predict the effect of bitcoin when it reaches its capped supply considering that cryptocurrency is still at its development stage. 

How Many Bitcoins Are Left to Mine?

Currently, there are about 2.134 million Bitcoins that are not yet in circulation. These unminted bitcoins which are not in circulation are in a pool and serve as rewards to miners for validating transactions in the network.  

The Bitcoin source code outlines the reward distribution process to miners for creating new blocks.

Since the creation of the Genesis block by Satoshi Nakamoto in January 2009, the rewards for creating a new block started at 50 Bitcoins. In 2012, the reward was fractionalized by 50%, and miners got 12.5 bitcoins per block. In May 2020, the value went down to 6.25 per new block. 

It is worth noting that the block rewards for bitcoin miners will be “halved” every four years until Bitcoin reaches its capped supply. 

When Will the Last Bitcoin be Minted? 

Most miners believe that the last mining of Bitcoin will be in 2140 and there might be no coins left to reward miners when Bitcoin hits its planned cap of 21 million.

But according to Andreas Antonopoulos, author of Mastering Bitcoin, the 21 million caps is an asymptotic cap. Simply put, Bitcoin can get close to this number but it might not hit the exact figures because blockchain rewards by design are expressed in the smallest-closest integer.

Probably, the total supply when Bitcoin hits its capped value will be around 20,999,999.9769 satoshis. 

You might be thinking, what if Bitcoin does not reach the planned cap? No one knows for sure what the consequences will be but, it could leave open the functionality of the cryptocurrency network beyond 2140.

What Happens Next When Bitcoin Hits Its Capped Number?

The year 2140 is still a long way for us to see Bitcoin hit the threshold of 21 million caps. The total units of bitcoins in circulation are a fraction away from the 18.5 million that is currently in circulation. This is because most owners have lost the private keys to their holdings.

Many Bitcoin coin owners threw their holding positions during the early days when the price was low.

There is, however, no accurate prediction of what will happen when all the 21million bitcoins are in circulation. Speculations reveal that miners won’t have any coins to generate and they will eventually stop receiving block rewards. 

Further development of the Lightning network may result in Blockchain restricting itself to confirming significant Bitcoin transactions on its network. By then, the value of Bitcoin as a store value might be clearly defined.  

But none of these predictions are imprinted in a stone. The rapid increase in the development and acceptance of digital currency makes it difficult for anyone to predict accurately the future of Bitcoin. 

The only way to have more than the proposed number of bitcoin is by amending the planned cap, thereby creating more supply of bitcoin.

But who knows? Cryptocurrency protocol might change to accommodate more than 21 million Bitcoin or, it might even fall short of reaching the planned cap.

Conclusion 

Looking at the aims and objectives of cryptocurrency, it is almost certain that bitcoin will serve many generations to come. Between now and when bitcoin reaches its supply market cap is a long time for any wise investor to take advantage of. 

Bitcoin has transformed the lives of so many and will continue to do so, as most investors are more than willing to maximize profit from the industry. You can either mine or trade bitcoin. Whichever method of getting bitcoin you choose, ensure you make use of the right platforms.

Four Top Ethereum Whales Gobble Up 900,310 ApeCoin (APE) Worth Over 12.43 Million USD within 24 Hours

Zabi
-
0
Four Top Ethereum Whales Gobble Up 900,310 ApeCoin (APE) Worth Over 12.43 Million USD within 24 Hours

Top Ethereum Whales are enjoying the wild ride of newly launched ApeCoin (APE), the red-hot cryptocurrency recently launched by Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) non-fungible token collection.



Two days before the ApeCoin (APE) has been launched and is made available for everyone to trade on several leading crypto exchanges like Binance, Coinbase, FTX, Huobi, OKX, and Kraken.

Following the launch, APE manages to become the trending topic across all social platforms, exchanges, and cryptocurrency price data tracking websites. As a ripple effect, the 24-hours trading volume for the coin seems to rise drastically, even APE makes its way to the list of top traded cryptocurrencies during the last 24 hours.

APE is currently the 4th most traded cryptocurrency during the last 24-hours with a trading volume of $8,071,434,446 USD, following Tether (USDT), Bitcoin (BTC), and Ethereum (ETH).

This all becomes possible after Top Ethereum whales become active and began accumulating the new native cryptocurrency of the APE ecosystem aggressively.

As per WhaleStats data, in recent hours, top ETH whales have made 4 massive transactions to accumulate ApeCoin (APE).

The most recent APE transaction was made by the 20th biggest whale of ETH. He acquired 300,000 APE for ,206,000 (.20M) USD only in one transaction.

Before this, a mysterious ETH whale ranked as the 10th biggest whale of Ethereum on WhaleStats, was reported to gobble up the same amount of APE as that acquired by the 20th biggest whale of ETH i.e., 300,000 APE for ,206,000 (4.20M) USD in a single transaction.

Just before this massive accumulation, another whale named “Gimli” – the 8th biggest whale of Ethereum was reported to acquire 84,090 and 216,220 APE coins in two different transactions.

The first transaction was valued at ,178,952 (1.17M) USD and the other transaction was valued at ,841,135 (2.84M) USD.

So far, four of these top Ethereum whales have accumulated a total of 900,310 ApeCoin, worth 12,432,087 ($12.43M) during the past 24 hours.

At the time of writing, the ApeCoin is trading at the price of $13.51 USD, up over 17% for the day with a 24-hour trading volume of $8,058,225,817 (8.05B) USD, as per data provided by CoinMarketCap (CMC).

Dogecoin (DOGE) Is 12X More Valuable Than The Russian Ruble

Mark Brennan
-
0
Dogecoin (DOGE) Is 12X More Valuable Than The Russian Ruble

Widespread sanctions on Russia are currently taking a huge toll on the nation’s economy, as the value of the country’s official currency, the Ruble, has slumped significantly. 

Following the significant slump of the Russian Ruble, popular memecoin Dogecoin (DOGE) is nearly 13 times more valuable than the fiat currency. 

As of press time a unit of DOGE is worth $0.12, while one ruble is valued around $0.0093. 

This is not the first time that the Russian Ruble has been overtaken by a crypto-related asset. Last month, Bitcoin overtook the ruble to become the 14th largest currency in the world after the former recorded a market capitalization of $779.66 billion. 

Since President Vladimir Putin declared a full-scale Russian invasion of Ukraine, the move has come under heavy scrutiny, leading to heavy sanctions from various countries, including the United States. 

The sanctions have had a major impact on Russia’s economy, with many believing the country could adopt cryptocurrencies to evade these stringent measures. 

Contrary to these beliefs, Brad Garlinghouse, Ripple CEO and founder noted that the country cannot seek solace in cryptos to evade sanctions because cryptocurrency transactions are more transparent than they were years back. 

Meanwhile, Dogecoin has been down 83.7% from its all-time high of $0.73, a scenario that does not seem pleasing to many enthusiasts, who attributed the decline in value to the unlimited supply of the cryptocurrency. 

Cardano (ADA) Users Lament Network Congestion Issue on Minswap Decentralized Exchange

Mark Brennan
-
0
Cardano (ADA) Users Lament Network Congestion Issue on Minswap Decentralized Exchange

Following the support of yield farming on Cardano-based decentralized exchange Minswap, users have aired their frustration at the network delay when processing transactions on the platform. 

Some users took to Reddit to air their frustrations, saying it sometimes takes over an hour before yield farming transactions on the platform are completed. 

According to a Cardano trader, the delay arises from the fact that several traders are eager to have their ADA staked in various liquidity pools on Minswap, thus causing network congestion. 

Another Redditor with the username TheMushroomToldMe, said: 

“Almost 8 hours to swap MIN for ADA Last night. But I don’t think it’s like Sundaeswap nightmare where you couldn’t catch the right slippage….it just feels like congestion….it is really making me realize how slow Cardano is compared to other chains in general congestion or not.” 

Minswap’s Dominance on Cardano

Prior to the official support of Cardano smart contract functionality, Minswap launched on Cardano’s testnet in September 2021. 

The multi-pool decentralized exchange came under heavy scrutiny and backlash from the Cardano community due to a concurrency issue. 

However, the DEX resolved the issue and subsequently deployed on the Cardano mainnet on March 8, 2022.  

Minswap subsequently rolled out yield farming on its platform, which has led to an increase in user activities. 

Surprisingly, Minswap has overtaken SundaeSwap as the Cardano-based DEX with the highest total value locked (TVL). Recall that as of last month, SundaeSwap enjoyed more than 90% dominance in the rankings. 

Per data provided by cryptocurrency analytic platform DefiLlama, total value locked (TVL) on Minswap is currently worth $131.53 million, placing the DEX in the number one spot in the rankings. 

Legal Expert Says SEC has “Strayed” from the Howey Test Original Meaning in Ripple Lawsuit

Albert Brown
-
0
Legal Expert Says SEC has “Strayed” from the Howey Test Original Meaning in Ripple Lawsuit

The ongoing lawsuit filed by the Securities and Exchange Commission (SEC) against blockchain company Ripple has garnered a lot of attention from crypto and legal experts. Interested parties have given their opinions on the matter, with several experts not left out. 


J.W. Verret, an associate professor of law at George Mason University’s Antonin Scalia Law School, is the latest legal expert to give his analysis of the SEC v. Ripple lawsuit. 

Verret noted in an article published on Law360 that the SEC has consistently failed to give regulatory clarity on the grounds that the agency does not provide legal advice. 

SEC Abuse Howey Test

The legal expert said the SEC is abusing the Supreme Court’s Howey test, a case used to determine whether a transaction should be considered an investment contract in order to be registered with the agency. 

“The SEC’s case against Ripple Labs Inc. for sales of XRP tokens shows the limits of the Howey test,” Verret said. 

Commenting on the denial of the SEC’s motion to stop Ripple from using the Fair Notice Defense, Verret said the delay of the securities agency in charging Ripple seven years after conducting the sale of XRP shows that the regulator never gave the blockchain company a prior warning of violation. 

Verret suggested that the Howey test’s current application by the SEC may even be curtailed if the case stays on for too long because it has strayed away from the main elements of the Howey decision, which includes profit from others and common enterprise. 

Ethereum Creator Vitalik Buterin Share Users Comments On His Appearance After Time Interview

Albert Brown
-
0
Ethereum Creator Vitalik Buterin Share Users Comments On His Appearance After Time Interview

Twitter Users Comment on Ethereum Creator Vitalik Buterin Physical Appearance. 



The recent TIME interview with Vitalik Buterin, the co-founder of Ethereum, where he shared his concerns about the future of the cryptocurrency industry, has prompted lots of comments about the development, with many standing in support of the ETH boss. 

However, a group of social media users seemed more concerned about the image of Buterin, TIME added in the interview. 

Commenting on people’s opinion on the picture, Buterin tweeted earlier, saying the quote tweets about him “are truly amazing,” while sharing some screenshots of a few users’ quotes. 

Almost everyone who commented on Buterin’s physical appearance said he looked like Tom Brady, a former NFL star, who retired from the league after 22 seasons. 

A Twitter user with the username Hiruy4HoCo, noted that Buterin resembles Brady after a two-year retirement without weight lifting. 

@LaneLarronde tweeted: “Tom Brady with the reverse Captain America super-soldier serum?” 

@Phlyers24 said: ‘Anyone else thinks he looks if Toma Brady did meth?’

@_GDB said: “This if Tom Brady was on Dog Food.”

Buterin said: “I didn’t even know who Tom Brady is, I had to ask people around me. My best guess was that he was the actor from Mission Impossible,” 

 

Buterin’s Opinion on Cryptos’ Future 

The comments of most cryptocurrency enthusiasts on Buterin’s physical appearance do not take away from the fact that the Ethereum creator made some vital points about the cryptocurrency industry. 

He even went as far as slamming the creators of the Bored Ape Yacht Club (BAYC), saying they are more focused on money, which has continued to give a bad name to the industry. 

 

New: SEC’s Response to Ripple’s Request to Dismiss Dr. Albert Metz Supplemental Expert Report

Mark Brennan
-
0
New: SEC’s Response to Ripple’s Request to Dismiss Dr. Albert Metz Supplemental Expert Report

SEC’s Response to Ripple’s Request to Dismiss Dr. Albert Metz Supplemental Expert Report.



After requesting a two-day extension, the Securities and Exchange Commission (SEC) has finally responded to Ripple’s motion to strike the supplemental expert rebuttal report from Dr. Albert Metz. 

The SEC requested that the court deny Ripple’s request to strike the supplemental rebuttal report because the motion was only established to prevent Dr. Metz from giving his expert opinion about the lawsuit. 

According to the SEC, the decision to preclude Dr. Metz’s opinion on the matter should be decided by Judge Analisa Torres, adding that Ripple’s motion to strike the rebuttal report disregards the procedure. 

Notably, the Securities and Exchange Commission accused the blockchain company of trying to use its motion to solicit for unfair advantage in the litigation, where certain experts’ opinions will be imperative to the trier of fact. 

Referencing Civil Procedure rules 26 and 37, the SEC stated that the request by Ripple to strike is not an appropriate sanction under the law. 

Mixed Reaction Trail SEC’s Response

The SEC’s response has sparked mixed reactions from interested parties in the lawsuit, with some people believing that the securities regulator’s reply should not count. 

Meanwhile, attorney Jeremy Hogan, who has been vocal about the lawsuit since it began, took an unfamiliar stand on the matter. 

Attorney Hogan, said: 

“Not having the SEC expert address something that was obviously coming from Ripple’s experts was a mistake.  Now they are trying to fix it and …that’s not a good position to be in.” 

 

Recall that the court allowed each expert witness to submit a report and another rebuttal report. After submitting its rebuttal report, the SEC made a second one calling it a supplemental rebuttal report, and Ripple would not tolerate it, as the blockchain company moved to strike it. 

 

1...2,4312,4322,433...2,631Page 2,432 of 2,631