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Also Read: Russia’s Putin Says US Dollar Losing Global Role; Bitcoin To Gain? advertisement Attorney Caleb J. Robertson Appears For Garlinghouse In a filing dated August 22, 2023, Attorney Caleb J. Robertson of Cleary Gottlieb Steen & Hamilton LLP appeared on behalf of the Ripple CEO in the lawsuit against the US SEC. In the filing, the attorney requested the court to provide all papers and communications in the lawsuit. Besides the Ripple litigation, attorney Robertson has experience working in enforcement space for a cryptocurrency platform “In connection with multiple government investigations.” He also represents financial institutions, securities trading firms, investment managers, and public companies in regulatory issues. Ripple CEO’s Role In XRP Lawsuit In its December 22, 2020 complaint against the company, the US SEC named Garlinghouse along with Christian Larsen, the company’s co-founder for raising capital t...

About $570 million in weekly BTC options expire on Friday, and the recent macro and crypto news events have further tilted the advantage to bearish traders. On Aug. 16, Bitcoin closed below $29,000 for the first time in 56 days. Analysts quickly pointed to this week’s Federal Open Market Committee minutes, which expressed concerns about inflation and the need to increase interest rates, as the likely cause. Despite the immediate reasons for the drop, the upcoming $580 million Bitcoin (BTC) options expiry on Friday favors the bears. They could potentially make a $140 million profit on Aug. 18, adding to the downward pressure on Bitcoin and complicating BTC’s search for a bottom. Federal Reserve minutes did not impact traditional markets On Aug. 16, Federal Reserve Chair Jerome Powell emphasized the 2% inflation target. This pushed the U.S. 10-year Treasury yield to its highest level since October 2007, prompting investors to shift away from riskier assets like cryptocurrencies in favo...

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...

Also Read: Reports Reveal Ripple Purchased Bitstamp Shares In Q1 2023; But Why? advertisement XRPL Upgrade To Hamper Severs On Large Scale? An amendment tagged as “CryptoConditionsSuite” is intended to add support for several crypto conditions to be used in “EscrowCreate” and “EscrowFinish” transactions. However, this amendment was added to Rippled v0.60.0 before the implementation. It seems like validators are not in support of one of its adaptations which might lead to the blocking of a ton of servers. The servers that run on old “ Ripple d code’ are on the radar of being affected. An expert highlighted that the server must run on at least v1.10.0 in order to escape from the amendment blocked. However, the amendment was brought in to protect the accuracy of XRP L data. According to the data, more than 200 nodes and 15 validators are still running on the old “ Ripple d code” that will be directly impac...