Surging prices, anticipation, and steady coin interest round out today’s headlines.
Ripple (XRP) Rallies by 40%, Requests Documents under the Freedom of Information Act Request
Ripple, the majority owner of XRP, the native currency of the XRPL that the SEC claims is a security, has been sued by the agency together with Brad Garlinghouse, the CEO, and Chris Larsen, one of the co-founders. The SEC alleges that the coin is a security and should be subject to their regulation.
However, Ripple, through its bevy of lawyers, most of them having worked previously with the SEC, is asserting that if XRP is a security, then ETH –through the Ethereum Foundation, should be classified as the same as they also crow-funded by pre-mining coins.
They are now requesting, among other documents, for all statements made by the former director Hinman about SEC being a security, communication with the Ethereum Foundation and ConsenSys—including any with Vitalik Buterin, and others.
Robinhood Halts the “Instant Buying” Feature for Cryptocurrencies
Following allegations of market manipulation of red-hot stocks, GameStop and AMC, Robinhood has now extended the same to crypto trading, deactivating the Instant Buying feature citing extraordinary market conditions.
This feature enables users to buy coins instantly using fiat even before the bank transfer is executed.
Their decision, however, has drawn market-wide criticism from lawmakers who say their action directly affects retail traders who are keen to capitalize on these surging stocks.
Bitcoin Cash Transaction Count Closing in on Bitcoin’s
Data from BitInfoCharts points to a surge in Bitcoin Cash Transactions.
On the last day, the Bitcoin fork processes 247k individual transactions, just 50k short from Bitcoin but several folds below that processed in Ethereum. This suggests increasing utility as users flock to a blockchain with a bigger block size translating to higher throughput and low transaction fees.
As of Jan 31, statistics show that Bitcoin Cash is the fourth most active blockchain behind Dogecoin.
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