XRP falls sharply – Crypto company Ripple is expected to be sued by the SEC
December 22, 2020 by 99pigs
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According to the complaint, Ripple's chairman, co-founder, and former CEO Christian Larsen, and the company's current CEO Bradley Garlinghouse, raised capital for the company through the sale of XRP in an unregistered securities offering.
The crypto company Ripple has stated that they are expected to be sued by the US SEC over allegations of shortcomings in investor protection. CNBC reports.
Ripple is strongly associated with the XRP cryptocurrency, which is falling over 15 percent as a result of the news.
According to Ripple, the SEC claims that the company violated laws to sell unregistered securities when they sold XRP to investors, but CEO Brad Garlinghouse believes that this is completely wrong as XRP is a currency and not a security.
XRP’s total market capitalization is $ 20.9 billion, compared to Bitcoin’s $ 420 billion.
XRP Quick Info
- What Is XRP?
XRP is a digital asset built for all types of payments. It is the native digital asset on the XRP Ledger—an open-source, decentralized, and permissionless blockchain technology that can settle transactions in as little as 3-5 seconds. - Is XRP still a good investment?
Yes, Ripple is a good investment and will be worth it in 2021 besides its SEC issues. The digital currency, XRP, serves as a bridge between currencies.
- How Is XRP Used?
XRP and the XRP Ledger are used to power innovative technology across the payments space. Faster, less costly, and more scalable than any other digital asset. - How scalable is the tech?
XRP consistently handles 1,500 transactions per second, 24×7, and can scale to handle the same throughput as Visa. (Source: 65,000+ transactions per second, as of July 15, 2019)
