Marketing Scoops: Bitcoin’s Record Highs Fade Into Consolidation Where Does Crypto Go From Here?

Bitcoin is settling into a quieter phase after a record-breaking summer rally. In mid-August, the cryptocurrency touched an all-time high near $124,000, before profit-taking began to weigh on prices. Since then, it has pulled back by about 10%, with trading largely confined to the $110,000 to $112,000 range. As of Sep. 8, Bitcoin held near $112,000, up around 0.7% in the past 24 hours and steady ahead of major macroeconomic events…….Continue reading….

By Ankish Jain

Source: Crypto News

Critics:

It was not being adopted by financial institutions for its advertised use cases. The SEC stated that Ripple executives sold 14.6 billion units of XRP for more than $1.38 billion to fund the company’s operations and enrich themselves. In response, Garlinghouse criticized the SEC and indicated that Ripple Labs would defend itself in court.

Coinbase delisted XRP on December 28; an investor filed a class action on December 30 alleging that Coinbase sold XRP tokens with the understanding that they were unregistered securities. On April 13, 2021, SEC Commissioner Hester M. Peirce published the Token Safe Harbor Proposal 2.0, which is ″intended to provide Initial Development Teams with a three-year time period within which they can facilitate participation in.

The continued development of, a functional or decentralized network, exempt from the registration provisions of the federal securities laws so long as certain conditions are met.″ Judge Analisa Torres issued a decision on motions for summary judgement on 13 July 2023, and stated the XRP token itself is not a security, although the manner in which it is sold could constitute the sale of a security.

“XRP, as a digital token, is not in and of itself a ‘contract, transaction, or scheme’ that embodies the Howey requirements of an investment contract.” The ruling further found that the institutional sales of XRP tokens constituted the unregistered offer and sale of investment contracts. However programmatic sales and other XRP token sales by Ripple Labs did not constitute the offer and sale of investment contracts, she ruled. The case could subsequently go to a full trial, or be appealed.

For its creation and development of the Ripple protocol (RTXP) and the Ripple payment/exchange network Ripple Labs was named as one of 2014’s 50 Smartest Companies in the February 2014 edition of MIT Technology Review.

A scientific study made by two researchers from Stanford and Stockholm universities that studied the money production from an energy consumption point of view and a macroeconomic level stated that running a server on Ripple was comparable to the energy needs of running an email server.

Official source code”.Ripple Labs Banks $3.5M for Open-Source Payments System and Virtual Currency”.

Cryptocurrency Company Ripple Is Sued by S.E.C.” The New York Times.

District court summary judgement,

Ripple Could Help or Harm Bitcoin”.

Ripple Could Make Bitcoin Great (or Destroy It)”.

Chris Larsen: Money Without Borders”.

Lessons in Innovation Leadership: Chris Larsen”.

Isn’t one Internet enough?”. Fortune Magazine

The rush to coin virtual money with real value”.

Ripple and Swift slug it out over cross-border payments”.

Big-name investors back effort to build a better Bitcoin”.

Bitcoin 2.0: Can Ripple Make Digital Currency Mainstream?”.