Back on Coinbase, and other platforms, including Alto IRA and Itrustcapital IRA (why not do it tax free or deferred this time?)
XRP just won key aspects of its multi year court case vs the SEC last Friday. It immediately doubled to 80 cents. Then we waited for the expected pullback and consolidation while easy profits were harvested. That consolidation may well be over ALREADY.
Market sentiment hasn’t been this upbeat in well over a year. So, what's behind this newfound optimism?
The buzzword of the week is undoubtedly Ripple (XRP). Yesterday’s verdict in the Ripple versus Securities and Exchange Commission case made headlines, with the court ruling in Ripple's favor.
The ruling states that Ripple’s digital token XRP is not a security, and that Ripple did not breach securities sale laws. This ruling provided some much-needed clarity, assuaging investor concerns over the potential classification of various cryptocurrencies as securities.
However, this is not just about one company's victory; it's about the ripple effects (no pun intended) this ruling could have on the broader crypto industry.
The ruling effectively challenges the SEC's stance on cryptocurrencies and may make it harder for it to win similar cases in the future.
I mean, if I were one of the lawyers at Coinbase, I certainly would have been celebrating last night. A decision like this is a significant aid in their case against the SEC.
In essence, this landmark ruling has set a legal precedent that provides a blueprint for other cryptocurrency companies to defend their tokens against security classification. This could potentially open the doors for increased innovation and growth in the sector, allowing crypto companies to operate with greater confidence and less regulatory uncertainty.
-Weiss Crypto Letter
While we cannot underestimate the potential for appeal, the ruling certainly contributes to the wave of positivity washing over the crypto industry. It has helped to redraw the regulatory landscape, turning it into a more hospitable environment for crypto firms.
This, along with falling inflation, slowing interest rate hikes and a weakening dollar, could create a potent mix that propels crypto prices even higher in the near term.
The era of crypto is upon us, and it's gaining ground faster than ever.
WITH GREAT KNOWLEDGE COMES GREAT RESPONSIBILITY.
USE IT WISELY
(And never spend the rent money)
*Not advice. DO your own Due dilligence. Opinions don't make you money. Strategy, insight, knowledge and action does.
ENJOY
Speakers Up! 😀
BONUS!!!
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CONTEXT (Big Picture!)
I read through the SEC's suit against Binance when it was released, and I have to say...
I almost had to hold it at arm's length while reading it, because it stunk to high heaven...
Something fishy is going on...
I can't prove this... and I'm not making any material claims here (please note: lawyers from the SEC)...
But the thing that stuck out to me was how the SEC kept mentioning the $11.6 billion in revenue Binance made on fees...
That's a lot of money....that traditional financial institutions could be adding to their bottom lines.
So it would not surprise me at all if the head of the SEC, Gary Gensler, was trying to clear the path for the "big boys of American finance" to muscle into the crypto industry and get their slice of the pie – while shafting smaller upstarts like Binance and Coinbase...
Fidelity, JPMorgan Chase, and BlackRock, are all in a desperate fight to get a toehold in the crypto market. Yes, the mad scramble from the big boys of American finance – to get into crypto – continued during the worst of this crypto bear market. They've been quietly hiring crypto related positions and expanding their infrastructure like mad.
Is it so far-fetched that Gensler is acting as their attack dog?
If you know how the SEC functions (basically to ensure the status quo), it's not that much of a conspiracy...
Here's our previous post on the topic https://jimychanga.substack.com/p/blackrock-wants-bitcoin-for-dinner?utm_source=%2Fsearch%2Fblackrock&utm_medium=reader2
KEANU REEVES, RIPPLE AND SNOOP DOG.
What could possibly go wrong?
Ripple heads into the Futureverse
Futureverse, a platform combining artificial intelligence and metaverse technology, raised $54 million in Series A funding, with crypto payments firm Ripple Labs participating.
Growth equity fund 10T Holdings led the funding round, but Futureverse's valuation was not disclosed. Futureverse previously announced a partnership with Ripple that utilizes the XRP token.
The platform includes proprietary AI content generation tools designed to "enhance the music, objects, characters and animations that make up the metaverse."
The company also has partnerships with a star-studded cast of various companies and individuals, including FIFA, Mastercard, Death Row Records, Snoop Dogg and Keanu Reeves. https://www.theblock.co/post/240321/ripple-invests-in-round-for-ai-metaverse-company-partnered-with-fifa-and-mastercard