Coinbase Volume Spikes to $2.7 Billion: XRP Chips In Only 3%
The crypto community saw history being scripted yesterday. The judge in the SEC-Ripple case gave a mixed verdict, but the main takeaway was the declaration of XRP as a non-security. The sales on exchanges; sales by employees; distributions to developers, charities, etc. were off the radar. However, the judge ruled that the institutional sales of the tokens violated federal securities laws. Nevertheless, this will be contested in court again during subsequent proceedings. The only thing the Court found constitutes an investment contract is past direct XRP sales to institutional clients. There will be further court proceedings only on these institutional sales per the Court’s order. — Stuart Alderoty (@s_alderoty) July 13, 2023 Also Read: Spot Bitcoin ETF ‘Rejections’ Might Not Stop BTC’s Bull Run: Why? Coinbase volume spikes: Courtesy XRP? On the heels of the landmark ruling, several exchanges started considering re-listing the asset. Coinb...