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Ripple's Legal Battle with the SEC and Its Impact on XRP
The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) seems to be nearing a resolution, as indicated by Stuart Alderoty, Chief Legal Officer of Ripple. In a tweet that garnered significant attention from the XRP community, Alderoty hinted at a potential victory for Ripple in its appeal against the SEC. This optimistic outlook has led to an increase in XRP's price, which rose by 5.7% recently according to Newsbit.de.
Alderoty expressed gratitude towards Ripple’s legal team and praised CEO Brad Garlinghouse for their efforts during this prolonged litigation process. The anticipation of a favorable outcome is fueling optimism within the community about future growth opportunities under potentially more crypto-friendly policies expected if Donald Trump assumes office again in 2025.
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Tokenized Money Market Funds: A New Era for Blockchain Finance
In another strategic move reported by Block-Builders.de, Ripple announced its collaboration with British digital exchange Archax and asset manager abrdn to introduce tokenized money market funds on the XRPL blockchain. With an initial investment of $5 million from Ripple, these tokens are aimed exclusively at professional investors who can trade them via Archax using XRP for transaction fees.
This initiative marks Ripple’s entry into real-world assets tokenization—a sector predicted to handle trillions over the coming years—offering advantages like low transaction costs below one cent per transfer along with instant settlement capabilities available around-the-clock globally.
XRP Open Interest Hits Record High Amid Regulatory Shifts
The open interest (OI) for XRP reached unprecedented levels amounting to approximately $1.8 billion following recent political developments, including Gary Gensler’s planned resignation as chairperson of the SEC early next year, reports Newsbit.de once again. This highlights how such changes could pave the way toward friendlier regulations benefiting cryptocurrencies, especially those involved directly or indirectly through ETF applications currently pending approval stages across various jurisdictions worldwide today!
WisdomTree Files Application For An Innovative Crypto Fund
WisdomTree filed an application seeking permission to establish the first-ever federally recognized exchange-traded fund based solely upon the performance metrics of the popular altcoin known as XRP. Filed in Delaware by the renowned financial services provider headquartered in New York City, WisdomTree Investments Incorporated aims to venture boldly into the burgeoning field of decentralized finance, better understood colloquially as DeFi among enthusiasts everywhere eagerly anticipating the forthcoming launch date. This is anticipated sometime in the near future, assuming requisite approvals are granted in a timely fashion, given the current circumstances prevailing regulatory oversight agencies concerned.
Sources:
- Einigung zwischen Ripple und der SEC wahrscheinlich, XRP-Kurs steigt
- Ripple bringt Geldmarktfonds auf die Blockchain – XRP erlebt Comeback
- XRP Open Interest erreicht Rekordhöhe: Was bedeutet das für den Kurs?
- WisdomTree stellt Antrag für XRP-ETF in Delaware
- "Der Kauf von XRP heute ist wie der Kauf von BTC 2011"
- Steigt XRP weiter? Investmentgigant startet Ripple-ETF
