Ripple seeks to obtain XRP transaction data from foreign exchanges

Ripple seeks to obtain XRP transaction data from foreign exchanges

Ripple executives are looking for XRP transaction data at foreign exchanges to prove that most of the tokens were sold to non-US citizens. This is the latest attempt in Ripple's legal battles with the US Securities and Exchange Commission.

The legal team of representatives of Ripple executives has submitted a proposal with the aim of collecting information on the sale of XRP tokens made in foreign exchange offices.

In the ongoing legal battle, Ripple is not accused of selling XRP as registered securities. However, the company's executives have claimed that the sale does not violate US law. They now hope to gather new information from exchange offices to prove that XRP tokens were sold to non-US exchange offices outside the scope of the 1933 Securities Act.

In a statement released Wednesday, Ripple CEO Chris Larsen and CEO Brad Garlinghouse confirmed that they were seeking information from 15 digital currency exchanges that have been trading XRP since 2013 (1392) have been processed.

The defendants asked the court to issue letters requesting the Hague Convention to officials in the Cayman Islands, Hong Kong, South Korea, the United Kingdom, Singapore, the Seychelles and Malta. This request provides information on XRP transactions, including XRP trading volume, IP addresses and exchange policy. The defendants claimed that they were not able to provide this data independently and therefore needed the help of the court.

If approved by the judge, request letters will be sent to foreign legislators to transfer to digital currency exchanges that conduct XRP transactions. These exchanges include AscendEx (formerly Bitmax), Bitfinex, Bitforex, Bithumb, Bitlish, Bitrue, Bitstamp, Coinbene, Coinone, HitBTC, Huobi Global, Korbit, OKEx, Upbit and ZB Network.

Ripple and Bainance traded XRP 75.4 million Thursday, May 13

Ripple and Bainance traded XRP 75.4 million Thursday, May 13

Once again, Ripple has attracted attention with the transfer of XRP to the Huobi exchange. At the same time, this currency has been transferred by large crypto exchanges.

Ripple has transferred $ 106.3.3 million in XRP

The Whale Alert service, which tracks the movement of digital currencies, has discovered about a dozen trades in which XRP 75.5 million has been traded by Kraken, Bainance, Ripple and other smaller cryptocurrencies.

Ripple has made its daily transfer to China's largest cryptocurrency exchange, Huobi: 5,472,400. This is the amount the company will send to Huobi every day of the week.

Last week, the daily XRP value from Ripple to Huobi was 7,066,450, according to blockchain analytics company Bithomp. Transfer is via Ripple RL18-VN wallet.

Support for XRP liquidity in China

Ripple typically provides cryptocurrencies with XRP to support Quinn liquidity in global markets. Its regular XRP transactions with prominent Chinese exchanges suggest that the DLT giant may support XRP liquidity in China.

An overview of the cryptocurrency market - Tuesday, May 11

An overview of the cryptocurrency market -Tuesday, May 11

Bitcoin Falls $ 6,000

Despite the strong movements and the upward trend of the last few days, BTC has not been able to overcome the resistance of $ 60,000. As we reported yesterday, the market's top cryptocurrency hit a three-week high of $ 59,600.

As the community waited for the $ 60,000 psychological resistance to pass, the bears stepped in and took control. In the hours that followed, Bitcoin began to fall rapidly, dropping more than $ 6,000 to its lowest daily level, just below $ 53,600.

Despite a relative return and multi-thousand dollar recovery, BTC continues to show a decline of about 6% on a 24-hour scale. In addition, the currency still dominates the cryptocurrency market below 43%.

Sea of ​​Blood in the Altcoins Market

Over the past few weeks, the replacement Quinns have performed more dramatically than their leader. However, most of them have fallen sharply since yesterday.

Atrium, which has seen explosive growth at the top of all altcoins, set a record high of $ 4,200 yesterday. However, it immediately plummeted to $ 400 and reached its lowest daily price level at $ 3,800. Ether has improved slightly since then and is now trading below $ 4,000.

Binance Coin (5.5%), Ripple (10%), Cardano (7.5%), Polkadat (12%), Bitcoin Cash (12%), Light Coin (12%) and China Link (12 -%) are all red today.

Dodge Quinn has fallen sharply since Ilan Mask appeared on SNL, falling another $ 11% to below $ 0.5.

Bitcoin Diamond (-20%), Qtum (-18%), ICON (-17%), Ethereum Classic (-17%), OMG Network (-15%), Phantom (-15%), DigiByte (-15% ), Ontology (-15%), Avalanche (-15%) and EOS (-15%) saw more fluctuations.

Typically, after a massive market downturn, the crypto market value also fell by about $ 200 billion yesterday, now reaching over $ 2.4 trillion.

Stock Exchange Commission (SEC): Are Ripple activities related to XRP token price?

Stock Exchange Commission (SEC): Are Ripple activities related to XRP token price?

Ripple's exploratory feuds with the US Securities and Exchange Commission are heating up with another letter to Judge Sarah Netborn, defending the decision to contact foreign lawmakers.

The agency claims that it seeks information from overseas entities to refute some of the company's key defenses.

In particular, it is trying to find out whether Ripple activities are related to the price of the XRP token. Obtaining daily trading data from foreign exchange offices is the only way to determine this. Because defendants claim that they are the only sources of pricing information:

"In addition, there is a growing demand for evidence for Ripple's defense. One of these cases is Ripple's defense, which claims that the price of XRP is not determined by Ripple activity. D.E. "51 ¶ 13, a defense to which the daily trading price of XRP on foreign platforms (used by Ripple, which Ripple says is the only source of this pricing information) is unquestionably relevant."

The SEC application is not legally binding

The Securities and Exchange Commission claims to be seeking information from 20 foreign entities and their affiliates.

The statement said foreign entities could reject MOU requests if they thought they were "heavy" or "inappropriate".

Ripple's lawyers claimed in their letter that more than 20 SEC targets are based in the United Kingdom, Singapore and Japan, countries where local lawmakers have recognized that XRP is not a security.

Increasing the organizational capital entering the Ripple market

Increasing the organizational capital entering the Ripple market

Over the past week, we've seen corporate investors turn their attention to Ripple (XRP), with assets under management (AUM) or their XRP investment products almost doubling.

According to the CoinShares Digital Asset Fund's weekly capital inflows, approximately $ 33 million in capital has flowed into XRP products this week, raising its managed assets (AUM) to $ 83 million.

The report cites the $ 233 million injection of corporate funds, citing this week as the uppermost period since early March (mid-March) for enterprise cryptographic products.

Bitcoin products, valued at about $ 50 billion, account for nearly 78% of the total assets under corporate management. Ether followed with $ 10.7 billion, or 16.8%, of cryptocurrencies.

In addition to the huge inflow of capital, corporate trading volume has also increased, reaching 59.8 billion dollars, up 59% since the beginning of the week.

With $ 50 billion in assets, Grayscale owns 77% of the cryptocurrencies under the management of organizations; CoinShares then accounted for about 9% of the total assets of the sector with $ 5.7 billion and 3iQ with $ 1.9 billion accounted for about 3%.

Demand for cryptographic corporate products appears to be growing in North America, with Canadian regulators launching three tradable Atrium funds last week.

Ripple's second legal victory over the SEC boosted it by 17 percent Saturday, April 10

Ripple's second legal victory over the SEC boosted it by 17 percent Saturday, April 10

Ripple has won its second major victory in the past week in its legal battle against the US Securities and Exchange Commission (SEC). The judge in the case, Sarah Netborn, barred the Securities and Exchange Commission from accessing the personal financial records of Ripple Board executives Garlinghouse and Chris Larsen.

Following this news, the price of XRP has increased significantly and was able to reach $ 1.18 with a growth of 17%. At the time of writing, XRP is trading in exchanges at $ 1.16 with a market cap of $ 51.9 billion. With this move, XRP took the place of Tetr with a weekly growth of 76%.

👌Ripple won its first victory against the SEC

Ripple won its first victory against the SEC

Judge Sarah Netborn, endorsing Ripple's proposal to force the production of Bitcoin and Atrium documents, dealt a blow to the US Securities and Exchange Commission:

"I intend, mainly, to address the defendants' request."

Ripple Corporation, its CEO, Garlinghouse, and its founder, Chris Larsen, filed a joint enforcement request on March 15, accusing the SEC of failing to withhold evidence. The company's lawyers claim that XRP is similar to Bitcoin and Atrium.

However, the SEC claimed that these documents were not relevant to the case because the currencies listed were fundamentally different from XRP.

Ripple does not scrutinize SEC minutes or notes to find cases where it can strengthen its case.