Showing posts with label blockchain news. Show all posts
Showing posts with label blockchain news. Show all posts

Crypto Celebrates XRP's BIG WIN Against the SEC with an INSTANT BULL MARKET - Now Look Out for the Potential SECOND WAVE...

xrp news

In a significant development for the cryptocurrency sector, a U.S. judge has ruled that Ripple's XRP is not a security. This decision has led to a substantial surge in the value of XRP, with the cryptocurrency experiencing a 23.37% increase in the last hour following the announcement. This is a major breakthrough for Ripple and its XRP token, which have been embroiled in a legal dispute with the U.S. Securities and Exchange Commission (SEC) over the status of the token.

The SEC had previously claimed that Ripple conducted an unregistered securities offering by selling XRP. The classification of a digital asset as a security has far-reaching implications, as it brings the asset under the regulatory oversight of the SEC.

The implications of this ruling extend beyond Ripple and XRP. It provides much-needed clarity in the often ambiguous realm of cryptocurrency regulation, potentially paving the way for other digital assets to argue that they too should not be classified as securities. This could lead to a broader acceptance and integration of cryptocurrencies into the mainstream financial ecosystem.

Current SEC Chair Gary Gensler, Widely Regarded as the Worst Leader the Commission Has Had in Years, Was Just Put in His Place...

That's not bias opinion from someone in crypto, as SEC employee resignations are the highest they've been in years, and the former employees cite his poor leadership the reason they left. Even some of the employees who are still there openly criticize him.

But poor SEC leadership can effect crypto more than other investments they have oversight over, simply because there are no laws in place that were written when crypto existed - this means it's up to organizations like the SEC and CFTC to figure out how to apply decades old law to this new emerging tech.

But once the SEC attempts to use one of those old laws against a crypto company, the company can still try to fight back by challenging the decision in court - and the courts ruling becomes new law that applies to anyone that could use the same defense.

Gensler's strange leadership and mixed messages has accomplished nothing but to confuse investors - and the strange thing is, that often seems to be his actual goal, as he's never explained in person or in writing what he believes the rules are.  So the only way to figure the rules out were to watch his actions. 

Unfortunately, his actions were things like approving Coinbase to be traded on the stock market, then suing Coinbase calling their entire business illegal, claiming every coin but Bitcoin was an unlicensed security that Coinbase was not licensed to trade.

At the same time, licenses did not, and still do not exist. There is no way for a company to even begin applying for one. 

Confused? So were may investors, who have held off on getting in to the crypto market while someone like Gensler has authority over it.  But with today's ruling, some limits have been put on how far Gensler could go, as XRP and other coins with similar business models now legally become out of his reach.  Remember, he's the head of the Securities and Exchange Commission - and the ruling was that Ripple's XRP is not a security.

The rise we've seen today appears to be the immediate reaction of those already in the market celebrating by buying more.

Now I'm watching for a second wave of new investors that are now confident enough in crypto's future to invest. 

The immediate market reaction to the ruling underscores the importance of regulatory clarity for the performance of digital assets. The sharp increase in XRP's price following the announcement demonstrates the positive impact that such legal victories can have on a cryptocurrency's value. Investors and traders are likely to closely monitor further developments in this area, as they could have significant implications for the broader cryptocurrency market.

In conclusion, the ruling that XRP is not a security is a landmark decision in the world of cryptocurrencies. It not only benefits Ripple and XRP holders but also has broader implications for the cryptocurrency market as a whole. The decision could potentially influence the regulatory approach towards other digital assets and shape the future of the cryptocurrency industry.


Author: Oliver Redding
Seattle Newsdesk  / Breaking Crypto News

Lithosphere (LITHO) Blockchain Confirms Upcoming Burn of 2.5 Trillion Terra Luna Classic (LUNC) During FINESSE P2E Gameplay...

Lithosphere core developer, KaJ Labs, recently announced that it was planning to implement Terra Luna Classic (LUNC) as one of the networks in its cross-chain FINESSE games. The next-generation network has now made the decision official. It will burn 2.5 trillion in LUNC used in the network’s new FINESSE game series. KaJ Labs will allocate $50 million to $100 million to facilitate the burn during the first season of Finesse. 

“The Foundation looks forward to working with the LUNCcommunity on the integration and the roll-out of the FINESSE games,” said Joel Kasr.

The highly anticipated first chapter in the FINESSE game series, Shadow Warriors officially launches on Dec. 18, 2022 with LUNC network support and the burning mechanism. The FINESSE games are free to play in PVE mode. PVP requires a purchase of an NFT to fight online 1V1. LUNC will be one of the first networks supported when the FINESSE games launch.

Lithosphere will launch NFT Warriors collection for public sales on Oct. 3, 2022, at 01:00 UTC. Private sale begins on the same day at 00:00 UTC. The INO launch will be conducted on LiquidftyDareNFT and NFTb.

There are two chapters in FINESSE game series. Both are mixed RPG play-to-earn (P2E) and can be customized to the preferred style of the gamer. It features different fighting styles encompassing warrior, ninja samurai, knights and vampires. The first chapter is “Shadow Warriors” and the second is “The Kingdom.” 

The core developers of Lithosphere, KaJ Labs, plans to bring gaming utility to LUNC, while expediting the burning process. The Lithosphere project and the developers are committed to supporting LUNC in additional games and cross-chain dApps.

About Lithosphere
Lithosphere is a next-generation network for cross-chain decentralized applications powered by AI and Deep Learning.
Media Contact
Dorothy Marley Marley
KaJ Labs Foundation
4730 University Way NE 104-#175
Seattle, WA 98105

Information Provided via Press Release
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