This weekend was eventful for the crypto industry, so check out U.Today’s top three stories to stay up to date.
This weekend was eventful for the crypto industry, so check out U.Today’s top three stories to stay up to date.
Ripple Responds to SEC’s Unreasonable Demands in Major New Filing
According to the last post by James K. Filan, defense attorney closely following the Ripple-SEC case, the fintech company has objected upon the regulatory agency’s request for post-complaint discovery. As stated in the filing, the SEC must compel Ripple to submit audited financial statements for the years 2022 and 2023, produce all post-complaint contracts for the sale or transfer of XRP to “non-employee counterparties” and answer a question on the amount of “institutional XRP sales proceeds” received after the complaint was filed for certain contracts. Ripple opposes these requests for two reasons: First, they are untimely. Ripple claims that the SEC had ample opportunities to pursue much of the requested discovery while fact discovery was open, but decided not to do so and now lacks a valid reason to do so. Second, SEC discovery requests seek information that is irrelevant to the solutions.
Dogecoin (DOGE) Price Turns Green as Elon Musk’s Xpaids Nears Launch
On Sunday, January 21, Dogecoin saw its price rise by over 14%, from $0.079 to $0.091. The trigger for this impressive price increase was Elon Musk and his ambitious project, Xpaids. The world famous centibillionaire has caused quite a stir with his plans to turn X into a super app that offers a wide range of services, including financial ones. In particular, Platform X has officially launched its xpagos account, indicating a significant step towards the financial sector. Further proof of Musk’s dedication to this company is the obtaining of licenses for monetary operations in several US states. X is reportedly preparing to launch peer-to-peer payments and Musk has hinted that they would be accessible to the public in general in mid-2024. The DOGE price growth coincides with the revelation of updates on the Xpaids social media page, which sparked a wave of speculation about a possible integration or collaboration between Dogecoin and Neither representatives of Dogecoin nor Elon Musk himself made any comments on the matter. respect yet.
Max Keizer expects XRP to fall to $0.01
In a recent x publicationMax Keiser, prominent Bitcoin supporter, took a hit to XRP, the fifth largest cryptocurrency by market capitalization, predicting that the asset will soon see a massive price drop. Keizer called XRP “centralized garbage” and stated that it “is going to go to $0.01.” This is not the first attack on the Ripple-affiliated token by Keiser. In the summer of 2023, Keizer commented on an X post by John Deaton dedicated to Bitcoin maximalists and the SEC and claimed that XRP is too centralized, and the SEC lawsuit against Ripple was proof of this. Bitcoin, on the other hand, according to Keizer, was completely and “exclusively” beyond the reach of regulators. Other cryptocurrencies, such as ADA and SOL, could not escape Keiser’s criticism either; The Bitcoin evangelist often criticizes these assets in his X posts, calling them securities and the founders of Cardano and Solana: scammers. As for XRP, it is currently changing hands at $0.5255, down almost 5% in the last 24 hours, according to CoinMarketCap.