Surging prices, anticipation, and steady coin interest round out today’s headlines.
Bitwise Liquidates XRP Position, will Coinbase Delist?
It has been a nightmarish three days for Ripple and its executives. Brad Garlinghouse, the CEO of Ripple, argues that he is on the right side of the law and history. He even questions the timeliness of the lawsuit put forth by the United States Securities and Exchange Commission (SEC).
The SEC claims the native currency of the XRPL, XRP, is a security. Ripple, Brad Garlinghouse, and Chris Larsen, the agency explained, illegally marketed and sold unregistered securities raising $1.3 billion in the process.
Amid this tussle, the XRP has lost half of its value. Ahead of the Flare Network, FLR snapshot of Dec 12, XRP/USD rose to $0.78.
With fear gripping investors–and rumors of Coinbase weighing the possibility of delisting XRP, the XRP is down 50 percent in less than a week. Bitwise Digital Asset Management has already liquidated its XRP position.
Frances Coppola told Forbes this might be the beginning of the end of Ripple and XRP.
“I think it is the beginning of the end. Any exchange that allows trading in XRP is potentially breaking the law, so exchanges are bound to delist it. The SEC has a very well put case.”
Two Million ETH locked in Eth2 Beacon Chain Mainnet
Amid Ripple’s legal troubles, Ethereum appears to be thriving. As of writing, there are over two million ETH coins locked at the official Beacon Chain mainnet deposit contract.
The Beacon Chain is a parallel Proof-of-Stake blockchain running concurrently with the Eth1. With staking possible, validators are now securing the network using their coins. The more ETH is locked the more the network is secure and decentralized.
A secure and decentralized base layer is required since it is the foundation for Serenity once Proof-of-Work is deactivated in a tentative time within the next two years.
Crypto Current will be guiding all of you who are new to the cryptocurrency world to becoming a cryptocurrency and blockchain expert. Crypto Current was founded to give access to information to everyone on current events occurring in cryptocurrency and blockchain in a digestible way. Since its creation, we have created content that impacted thousands of people through its podcast, blog, and social media.