Coinbase Wallet News: Citing low usage, Coinbase Wallet announced it will no longer support assets like Ripple (XRP) and Bitcoin Cash (BCH) among others. The team announced December 5, 2022 as the deadline to stop support for a total of cryptocurrencies. Users will be able to access their holdings in these assets through the Coinbase Wallet recovery phrase, it said. With this, these networks will lose support to access Dapps on the networks.
Tag: Ripple
Cryptocurrency exchange Coinbase has been granted permission to file its amicus brief to join Ripple Labs in supporting its ongoing lawsuit with the United States Securities and Exchange Commission (SEC).
On Monday, US District Judge Analisa Torres granted motions for the 12 Ripple supporters to submit their amicus briefs. Among the list of growing supporters are Coinbase and the Blockchain Association. Backers have until November 18 to submit their abstracts, but Coinbase has already confirmed their submission. Earlier this month, she asked the court to consider her request for an amicus brief. An amicus brief is known as a “friend of the court” and is a legal brief that contains advice or information related to a court case from an organization that is not directly involved in the case.
The case between Ripple Labs and the SEC took a big step forward in October, when it was decided in Ripple’s favor and Judge Torres ordered the SEC to turn over Hinman’s disputed documents. These documents contain internal SEC emails and drafts from former corporate CFO William Hinman. The documents contain discovery material from a speech given by Hinman in which he claimed that Bitcoin and Ether are not securities. In his speech, Hinman said:
Based on my understanding of the current state of Ether, the Ethereum network and its decentralized structure, the current offers and sales of Ether are not securities transactions.
The documents are more broadly related to the lawsuit against Ripple Labs, its former CEO Chris Larson and its current CEO Brad Garlinghouse. The SEC filed the lawsuit in 2020 alleging that the three entities, Ripple Labs, Garlinghouse, and Larsen, illegally profited from the sale of Ripple’s native XRP token as unregistered securities.
After a week of great uncertainty for the broader cryptocurrency market, XRP was leading in terms of gains and gained more than 10% following developments.
The parent company behind the Ripple network has expressed interest in buying assets belonging to the bankrupt Celsius network.
Ripple Seeks M&A Opportunities
A Ripple Labs spokesperson said the company is considering buying certain assets from the bankrupt crypto lender. However, when asked if Ripple was interested in acquiring Celsius, the spokesperson declined to comment.
The representative stated,
“We are interested in learning about Celsius and its assets and whether any of them could be relevant to our business.”
They also mentioned that the payment services company is actively seeking strategic M&A opportunities to expand the company.
Celsius legal problems
Celsius Network has been in a lot of hot water recently, with its CEO Alex Mashinsky receiving more criticism. Mashinsky continued to assure Celsius clients that all was well, even on the verge of bankruptcy. He is also being investigated by a committee of creditors created by the US Trusteeship. The lending platform was one of the victims of the Terra LUNA implosion and had to file for bankruptcy in July after a month of frozen withdrawals.
On the other hand, Ripple Labs has done very well despite the SEC lawsuit and the bear market, mainly due to its focus on working with international clients and developing global payment networks.
Ripple interested in the Celsius case
Ripple’s legal representatives applied to the bankruptcy court to be represented in the Celsius proceedings despite not being one of the major creditors of the lending platform. The requests were approved by the court earlier this week. The above comment was made in response to inquiries about the court documents. The representative declined to provide further details on the matter.
The bankruptcy filings reveal that Celsius’s assets include digital assets held in escrow accounts, loans, a bitcoin mining operation, the platform’s own CEL token, and cash and cryptocurrencies that the company currently owns. As Ripple Labs has not signed any major deals as of yet, it should be interesting to see if this interest in the Celsius case really amounts to anything tangible.
Ripple legal problems
Ripple has been going through its own legal troubles since 2020, when the Securities and Exchange Commission sued the cryptocurrency payment provider for allegedly operating unregistered securities. The Ripple team has denied these claims, claiming that XRP is only traded as a digital currency and not as a security. The public consensus is that the lawsuit will be resolved in favor of Ripple, as the case brought by the SEC is flimsy at best.
Decentralized Finance (DeFi) has changed the fundamental design of money to one where all players are treated equally. It allows all transactions to be completely decentralized, meaning that all transactions within the metaverse are not allowed as there is no central organization to oversee payments. By doing this, everyone has the same opportunity to literally multiply their DeFi money.
So what are you waiting for? Here are the top three coins to get you started on your Crypto success journey: Tether (USDT), Ripple (XRP) and FIREPIN (FRPN).
Firstly, we highly recommend investing in Tether (USDT). Because? The USDT value is guaranteed by Tether to remain pegged to the US Dollar. Tether claims to allocate the same amount of USD to its reserves each time it distributes new USDT tokens, ensuring that USDT is fully backed by cash and cash equivalents. Therefore,
making it stand out as a stablecoin.
According to CoinMarketCap, USDT currently ranks third on the ranking list, illustrating a market capitalization of $80,097,806,336. Overall, it provides an easy way for people to globally transfer the equivalent in US dollars via blockchain, without having to rely on a slow and expensive intermediary, for example. a bank.
Another key currency to consider is Ripple (XRP) – a single XRP transaction takes just five seconds to complete and costs just 0.0001 XRP (or $0.00007525), with minimal power usage. As a result, Ripple (XRP) is known to be one of the greenest coins within the Crypto space.
Thus, it illustrates a stark contrast to conventional Bitcoin (BTC). A single BTC transaction can cost up to $40, take up to an hour, and consume up to 250 kWh, which is roughly the same amount of energy a refrigerator uses in a year.
In short, crypto enthusiasts can trust the reliability of XRP as its price prediction is estimated at $4 to $8 by 2025. Thus, it demonstrates great potential.
Get up with FIREPIN (FRPN)…
On a final note, experts advised keeping an eye on the emerging FIREPIN (FRPN). This is a cryptocurrency that will connect Binance Smart Chain (BNB), Ethereum (ETH), Polygon (MATIC), Avalanche (AVAX) and Solana (SOL), allowing holders to use the most efficient blockchain at the optimal time. (depending on congestion). ) to trade smoothly and profitably.
Additionally, holders will be able to earn extra Crypto through their Staking and Farming platform. Therefore, holders of this new currency will benefit by investing in FRPN tokens, as a portion of each transaction will go to the treasury.
Cryptocurrency analysts have stated that FIREPIN (FRPN) will soon become one of the top cryptocurrencies on the market once it officially launches this spring. However, it is worth noting that now is the best time to make an investment as it has already seen increases in value despite being for sale.
Also, the FRPN Value Price Forecast is said to increase from $0.00006 to $0.0008. Therefore, if you were to invest now, it is very likely that you would considerably multiply your initial investment.
To conclude, investing in cryptocurrencies is extremely volatile but has great long-term potential. To invest successfully, you should always do thorough research and carefully assess which projects are truly trustworthy.
In short, FIREPIN (FRPN) is definitely a currency you can trust as it is based on full transparency and openly welcomes anyone interested in the Crypto community.
Remember, to make significant profits in the Crypto space, you don’t need to invest thousands of dollars. Simply ride project waves and invest strategically when currency is cheap. So don’t miss out: buy FRPN tokens as soon as possible to increase your chances of becoming a cryptocurrency millionaire.
Ripple has partnered with the Digital Euro Association (DEA) to work together on Central Bank Digital Currencies (CBDCs).
DEA, based in Frankfurt, Germany, is a think tank focused on CBDCs, stablecoins, cryptocurrencies and other forms of digital money.
The organization aims to influence policy related to CBDC and cryptocurrencies through research and providing a platform for policymakers, technologists and economists to discuss digital assets.
In a new announcement, it describes Ripple as a leader in its field, but does not provide exact details on what the partnership will entail.
“Ripple, a leading provider of enterprise blockchain and cryptographic solutions for cross-border payments, has recently developed a blockchain-based infrastructure to support CBDCs and is engaged with the central bank of Bhutan, among others, to help run its program pilot . of CBDC.
Ripple is also a member of the Digital Pound Foundation and continues to expand its efforts around CBDCs around the world. The DEA partnership with Ripple includes, but is not limited to, joint educational efforts around digital currencies and knowledge sharing.”
DEA President Jonas Gross said:
“We are delighted that, thanks to our partnership with Ripple, we are able to extend the technology experience of the DEA community. As more and more CBDC projects around the world reach advanced stages, the technological design of a CBDC will play a key role for policymakers in the near future, while previous years have mainly focused on research.”
Ripple also addressed the association in a tweet to his followers, saying that it was part of their overall goal to provide CBDC-related solutions on a global scale.
“We are excited to join the Digital Euro Association as a supporting partner to further develop our work with the CBDC!