SEC v. Ripple: 16 companies awarded a friend feed request

  • The recent hearing in the SEC’s lawsuit against Ripple saw Ripple gain a significant advantage
  • The judge gave 16 companies until November 18 to submit their information

More than two months after the initial amicus curiae application was submitted to the court in SEC v. Ripple, Chief Justice Annalisa Torres has finally appealed content “Friend of the Court” to actually appear in court in support of Ripple.

16 companies offer friendly summaries

The recent hearing in the SEC’s lawsuit against Ripple saw the latter gain a significant advantage as 16 companies that have asked the court to allow them to assist the court and ultimately influence the ruling will now have a chance to do so.

The Digital Chamber of Commerce, which was the first group to gather for Ripple, is among those who Request To submit a report that has been granted. Other programs include Coinbase, Blockchain Association, TapJets, I-Remit, I-CAN, Spend-the-Bits, Deaton, CCI, Valhalla Capital, Cryptillian Payment Systems, VeriDAO, Reaper Financial, Accredify (DBA InvestReady) and the New Mathematical Economics Institute, Operations Sample.

The judge gave the above companies until November 18 to submit their information. Currency base It appears that he took the lead by being the first to officially submit a friendly brief to support Ripple. The US cryptocurrency exchange submitted its application on October 31.

Settlement rumors

Rumors of a possible settlement between the Wall Street regulator and Ripple began after US Fox News reported on November 14 that a settlement was expected at the hearing scheduled for November 15.

“I know you expect a settlement tomorrow in the lawsuit between the SEC and Ripple,” said Fox correspondent Eleanor Terrett. he heard Such as.

Charles Gasparino, Senior Correspondent, Fox Business Network advertiser Later that news was actually fake and the same was confirmed by Ripple Labs.

XRP price action

However, XRP was trading at $0.3793, up nearly 12% in the past 24 hours. But much of that rally was likely due to a false rumor of a possible settlement between the Securities and Exchange Commission and Ripple in today’s session.

The 50% increase in the daily volume of XRP shows how traders rushed to buy the token in anticipation of the settlement.

According to the information received from CoinMarketCapThe market capitalization of XRP is just over $19 billion, with a 24-hour trading volume of $2.3 billion.

Leave a Reply

Your email address will not be published. Required fields are marked *