A user on X reported that Grok responded by saying the SEC officially withdrew its appeal in the XRP lawsuit. Grok stated, “The U.S. Securities and Exchange Commission (SEC) has dropped its lawsuit against Ripple.” This claim caused a significant stir among XRP investors. 

However, SEC prosecutor Marc Fagel said Grok’s statements do not reflect reality. He emphasized that these comments have no basis in official documents. According to Fagel, neither party has formally withdrawn their appeals yet. 

“Grok Doesn’t Understand Lawsuits” Warning and Official Process 

Marc Fagel stressed the importance of not relying on AI interpretations in complex legal matters. He reacted by saying, “Grok doesn’t understand lawsuits at all.” Additionally, he shared the link to Ripple’s appellate filings to show the official process. Fagel explained that if appeals were dismissed, this information would be publicly available in court systems. 

Meanwhile, the XRP community is focused on August 15, the deadline for SEC and Ripple to report their appellate status to the court. Still, Fagel pointed out this date does not necessarily mean the case will conclude then. He reminded that the parties could withdraw appeals before this deadline, but no such filings have occurred so far. 

Moreover, Fagel noted that these internal procedures can take weeks. Thus, only official sources and court records should be trusted. Predictions made by AI tools mostly remain speculative and unreliable. 

XRP Lawsuit Continues; Beware of Misinformation 

XRP investors continue to monitor the crucial Ripple-SEC lawsuit closely. However, the latest developments become clear only through official court records. AI tools like Grok cannot accurately analyze such complex legal proceedings. 

Therefore, it is vital for investors and followers to rely solely on official announcements. Unless new developments occur by August 15, current uncertainty is likely to persist. Investors should remain cautious against speculative rumors spreading on social media.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Grok Claims XRP Lawsuit Ended! Response Was Immediate appeared first on Coin Engineer.

According to Terrett, the deadline for the SEC to file a Form C document regarding the appeal is tomorrow. This document will provide a preview of the legal arguments the SEC will present. 14 days after this document is filed, Ripple will file its own Form C detailing its cross-appeal and provide more information about its legal strategy.

Might interest you: What is BabyDoge?

After this process, the two parties will come together and agree on a briefing schedule. Once this schedule is determined, the SEC will have up to 90 days to submit its opening brief, which will present its legal arguments for the appeal. Alderoty stated that he expects the SEC to use the full 90-day period. Ripple will present its own response to the SEC’s allegations. It is anticipated that this briefing process could extend until July 2025.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Dates Clarified in the Case Between Ripple and the SEC appeared first on Coin Engineer.

The SEC accused Ripple in 2020 of raising $1.3 billion through XRP sales, claiming that these sales were an unregistered securities offering. In the four-year-long case, Ripple is now seeking to strengthen its defense by filing a counter-appeal.

“Today, we filed a counter-appeal so that nothing is left on the table. This includes the argument that in order for there to be an investment contract, there must be a contract that contains fundamental rights and obligations,” Ripple’s chief legal officer Stuart Alderoty said in a statement on the X platform.

Might interest you: What is BabyDoge?

In 2022, Judge Analisa Torres ruled that Ripple’s programmatic XRP sales did not violate securities laws due to the auction process. However, she ruled that sales made directly to institutional investors were considered securities. In August, Judge Torres ordered Ripple to pay a $125 million fine.

The SEC had previously filed an interlocutory appeal while the case was still ongoing, but Judge Torres rejected the appeal.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Ripple Files Second Notice of Appeal Against SEC appeared first on Coin Engineer.

Binance US Reveals XRP’s Origins and Technology

Binance US shared an X series (formerly Twitter) with updates on XRP. The series stated that the Ripple token was created in 2012 by David Schwartz, Jed McCaleb, and Arthur Britto. It also confirmed that the cryptocurrency uses the XRP Ledger Consensus Protocol, which is different from the traditional proof-of-work system used by Bitcoin.

Might interest you: Ripple’s Chief Legal Officer Urges Kamala Harris to End SEC’s War on Crypto

Among the information shared, it was also emphasized that the XRP Ledger has the capacity to process 1,500 transactions per second. This shows that XRP offers a significant advantage in terms of scalability and efficiency.

These insights from Binance US came just a few days after Ripple’s legal victory against the SEC, and have rekindled hope in the community. This update made by Binance US is considered a reflection of the increasing legal interest in XRP. Whether XRP will have an ETF in line with these developments is eagerly awaited.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Binance US Shares: XRP Insights After Ripple’s Court Victory; Is an XRP ETF on the Way? appeared first on Coin Engineer.

Ripple’s Chief Legal Officer Calls Kamala Harris

Stuart Alderoty has made a strong call to Vice President Kamala Harris to end the SEC’s “misguided war” on crypto. The statement comes after a major court ruling in the ongoing legal battle between Ripple and the SEC.

While Alderoty expressed optimism about the court ruling in an interview, he later emphasized the need for urgent political intervention in a statement on the X platform. “If this administration is seriously looking for a ‘reset,’ it should act NOW to end the SEC’s misguided war on crypto,” he said, referring to Harris’ proposed “crypto reset.” The statement underscores the crypto community’s urgency over the SEC’s regulatory approach.

Alderoty’s Comments on Ripple SEC Lawsuit Decision

This week, the court ordered Ripple to pay a $125 million penalty for failing to register its XRP token sales to institutional investors. That amount is far less than the $2 billion the SEC had initially sought. Alderoty called the outcome of the Ripple SEC lawsuit a victory not just for Ripple, but for the entire crypto industry.

“Ripple did not act recklessly… There are no victims; there were no financial losses to the counterparties to these transactions,” Alderoty said. He also noted that the court’s decision provided much-needed clarity. The court’s ruling that XRP itself is not a security resolves a key issue at the heart of the case.

You may also be interested in: Ripple Begins Beta Testing Ripple USD On XRPL And Ethereum

“The fundamental clarity that we are seeking in this case is that XRP is not a security per se… just like a gold bar is never a security,” Alderoty said. He noted that this decision sets a critical legal precedent that could impact crypto regulation. Despite the positive result, Alderoty acknowledged the possibility of an SEC appeal. However, Ripple expressed confidence that the SEC case is nearing its end. “For us, it is finally over… If the SEC is a rational actor… there should be no appeals,” he said. He also emphasized that the blockchain payments firm is focused on growing its business and moving forward.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Ripple’s Chief Legal Officer Urges Kamala Harris to End SEC’s War on Crypto appeared first on Coin Engineer.

Ripple SEC Case Resolution and Impact

The long-running legal dispute between Ripple Labs Inc. and the U.S. Securities and Exchange Commission (SEC) has ended with a final decision on the settlements. This decision could potentially pave the way for the approval of a spot XRP ETF. While Ripple Labs faces a significant fine, the lawsuit provides significant legal clarity for its native token, XRP.

Increasing Speculation About XRP ETF Approval

The outcome of the case has fueled speculation about the possible approval of an XRP ETF. Bitinning founder Kashif Raza expressed optimism on X (formerly Twitter) about the future of XRP in the ETF market. He said:

“Sales of XRP to institutions violated securities laws. Pay a $125 million fine. Sales of XRP to retail did not violate securities laws. Relief to the XRP community… Expect XRP ETF applications soon.”

You may also be interested in: Ripple SEC Lawsuit Has Been Partially Ended

ETF Store President Nate Geraci echoed this sentiment by asking the question “What about XRP ETF?” regarding X. He emphasized the importance of Judge Torres’ decision, emphasizing that Ripple’s programmatic sales of XRP to retail customers through exchanges did not violate federal securities laws.

This decision provides XRP with legal clarity that many other altcoins lack, thus increasing the chances of an XRP ETF application. Earlier this year, after the SEC approved Spot Ethereum ETFs, analysts began speculating about the possibility of ETFs for other altcoins, including XRP. Geoffrey Kendrick, an analyst at Standard Chartered Bank, was quite outspoken about this possibility.

Analyst Estimates and Market Outlook

Geoffrey Kendrick, head of forex and digital assets research at Standard Chartered Bank, offered an optimistic view on the situation. “As the market looks ahead, it is unlikely that this development will happen in 2024. This is because such an ETF approval would involve several steps. So even if an application is made immediately, the decision could be delayed until next year,” he said.

Kendrick also suggested that the approval of the Ether Spot ETFs shows that the SEC does not view ETH as a security. This logic could also apply to other altcoins such as XRP and Solana, with the possibility of an ETF launch by 2025. Supporting his prediction, VanEck and 21Shares filed for spot Solana ETFs last month.

The end of the Ripple SEC lawsuit has not only provided regulatory clarity for XRP but also increased the possibility of XRP ETF applications. While the market speculates on the potential of these ETFs, the regulatory landscape for cryptocurrency ETFs could see significant improvements in the next few years.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Ripple SEC Case Settled, XRP ETF Rates Rise appeared first on Coin Engineer.

The lawsuit I have been waiting for 4 years in the cryptocurrency world has been concluded. The court was required to pay $125 million in bail to Ripple in the SEC’s lawsuit over Ripple’s XRP token.

Ripple has been fined $125 million as part of its long-running legal battle with the U.S. Securities and Exchange Commission (SEC), according to a recent court filing. “The SEC’s request for relief and entry of the final judgment are granted in part and denied,” Judge Analisa Torres said in her decision. The court will issue a final ruling that includes an injunction preventing Ripple from further violating securities laws and a global civil penalty of $125,035,150.

Ripple CEO Brad Garlinghouse had previously stated in July that he expected the remaining legal proceedings to proceed quickly.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Ripple vs SEC Case Has Been Partially Ended appeared first on Coin Engineer.

Speculation Triggers XRP Price Increase

The collapse of the agreement led to a significant increase in the price of XRP in recent weeks. This speculation has been fueled by rumors of next week’s planning and closed-door SEC meetings that could potentially result in a settlement announcement.

Might interest you: Ripple Sells Stakes in Bitstamp and Tranglo

According to the analytics firm Santiment’s XRP Ledger, it was seen that it was dispersed, had the highest activity since March, and experienced new address creation. This increase in activity demonstrates increasing user outlook and optimism when implementing XRP.

Garlinghouse expressed confidence that whether Ripple is currently in settlement talks with the SEC, the legal ramifications will be resolved soon. Ripple’s chief legal officer, Stuart Alderoty, recently celebrated the one-year anniversary of the mixed decision in Judge Analisa Torres’ case. Alderoty emphasized that the SEC continues to object in this case because the court ruled that bankruptcy is valid if XRP is not a security.

Upcoming SEC Meeting and Potential Outcomes

The SEC meeting, which was planned to be held behind closed doors for the next week, was postponed to July 25. According to the SEC’s website, the meeting combines topics such as “Modification and resolution of administrative option, resolution of case details, and other matters.” This has led to increased speculation that a settlement announcement could be imminent.

Ripple’s potential settlement with the SEC could be a major turning point for the company and the broader cryptocurrency market, potentially increasing regional treatments and investors’ capacity in the industry.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Ripple CEO Announces He Predicts Imminent Legal Solution appeared first on Coin Engineer.