Ripple is backing out of its planned acquisition of Fortress Trust only 20 days after announcing the purchase in order to ostensibly increase its number of licenses in the U.S. Yesterday, Ripple CEO Brad Garlinghouse said on Twitter about the decision to abandon the acquisition. However Ripple will continue to
The New York Department of Financial Services (DFS) has made significant waves in the cryptocurrency world with its latest move to revamp its “greenlist” of approved cryptocurrencies. According to crypto lawyer Bill Morgan, DFS removed assets like Ripple (XRP) and Dogecoin (DOGE), while Bitcoin (BTC), Ethereum (ETH), and the PayPal
Ripple announced on September 8 that it plans acquisition of Fortress Trust in order to increase its portfolio of regulatory licenses in the U.S. Fortress Trust’s mission is to serve as the regulatory and technological backbone for blockchain enterprises. Moreover, the firm is licensed as a Nevada Trust, which permits
As part of its move to certify its interlocutory appeal in the XRP lawsuit, the U.S SEC issued a 20-page reply memorandum of law yesterday. The SEC is seeking to preserve face by appealing the inquiries asked in the lawsuit, on the grounds that it has an institutional interest in
In a strategic move aimed at maintaining the liquidity of the XRP cryptocurrency, Ripple Labs has released a total of one billion XRP coins from its escrow accounts. The release was executed in four transactions, with the overall transferred XRP valued at $510 million. According to popular blockchain tracker Whale
XRP rallied strongly in July, surging 47.6% on the heels of a favorable court ruling in Ripple’s ongoing legal battle with the SEC. But the winds have now shifted for the fourth-largest cryptocurrency by market capitalization. Despite logging its second-best July price performance on record, Ripple appears on track for
In the current landscape, top cryptocurrencies , Bitcoin and Ethereum find themselves entrenched in a challenging period marked by a prevailing bearish trend. This trend has also cast a shadow over XRP, a prominent altcoin, as it contends with its own bout of bearish pressure. Despite clinching a legal victory
Western Union, the world leader in money transfers, has entered the cryptocurrency realm. CEO Hikmet Ersek has said that the business is investigating ways to use the Ripple blockchain and its native token, XRP. Western Union’s entrance into blockchain and cryptocurrencies was announced by Ersek in a recent conference call
Ripple (XRP), the world’s fifth-ranked cryptocurrency, has surpassed the leading altcoin as the most popular cryptocurrency in South Korea. According to the report, crypto traders in South Korea chose XRP as their first preference over other cryptocurrencies. On the other hand, Ripple has experienced a surge of around 2% in
The CEO of Ripple, Brad Garlinghouse, has a new lawyer representing him in the XRP litigation, which has been pending in the United States District Court. This action follows a recent application for permission to pursue an interlocutory appeal in the matter filed by the U.S. SEC. In a court
