Ripple executives Bradley Garlinghouse and Christian Larsen have rejected demands by the United States Securities and Exchange Commission to provide personal financial information as part of the ongoing investigation into a possible XRP sales securities violation. On March 11, lawyers for the Ripple Labs co-founders requested a protective order regarding their personal information and called for the court to quash subpoenas issued to six of the defendants’ banks. The banking institutions named specifically were SVB Financial Group, First Republic Bank, the Federal Reserve Bank of New York, Silver Lake Bank, Silvergate Bank and Citibank. Lawyers for Garlinghouse and Larsen argued …

Long-term investors use dips in a strong uptrend to buy while short-term investors are fixated on calling a top. In the past few days, data from Glassnode has shown significantly sized Bitcoin (BTC) outflows from Coinbase exchange, which is a sign of accumulation according to analysts. It is encouraging to note that the demand is not limited to one exchange and data from Material Indicators shows buy orders of $100,000 and higher are reaching an all-time high. This shows that the influx of institutional investors and large corporations entering the crypto sector continues to accelerate. Proof of this comes as …

Ripple has ended its lawsuit against YouTube for the social media platform’s alleged complicity in a spate of fake XRP giveaway scams, CEO Brad Garlinghouse announced on March 9. Ripple and Garlinghouse filed a lawsuit against YouTube LLC in April 2020, claiming that the platform itself had profited from the fraudulent activity, and that it had failed to exercise its administrative powers to stop it. Garlinghouse announced on Twitter on March 9: “Last year, @Ripple and I sued @YouTube for failing to enforce its own policies by allowing fake accounts (impersonating my/Ripple’s verified accounts) to conduct XRP giveaway scams. We’ve …

Ripple CEO Brad Garlinghouse has issued a statement announcing the fintech firm and MoneyGram International have together decided to “wind down” their partnership. However, the March 8 statement noted that both companies are committed to revisiting some form of partnership together in the future. Garlinghouse noted that together, Ripple and MoneyGram International (MGI) processed billions of dollars through Ripple’s RippleNet and On-Demand Liquidity (ODL) services, stating: “While the lack of a crypto reg framework has needlessly muddied the waters for U.S. businesses & consumers, there’s no denying what Ripple and MGI have achieved together.” The Ripple CEO has repeatedly accused …

Data from Glassnode shows that Bitcoin (BTC) held on centralized exchanges has dropped by about 20% in the past 12 months. This suggests that investors are withdrawing their Bitcoin to the cold storage with a view of possibly holding them for the long term. This has reduced the available supply while the demand has continued to increase. The arrival of exchange-traded funds could increase the supply crunch further. After the success of the TSX Purpose Bitcoin exchange-traded fund, Canada could launch the second Bitcoin ETF by Galaxy Digital Capital Management, a subsidiary of Galaxy Digital. The approval of Bitcoin ETFs …

Analysts expect the U.S. economy to stage a strong recovery in the second half of this year as coronavirus vaccines are distributed and economic activity begins to increase. As growth picks up, inflation concerns are also on the rise. Speculation is rife that the U.S. Federal Reserve may have to adjust its dovish stance to hold down interest rates. In anticipation, the 10-year U.S. Treasury yield has jumped from about 1% at the start of the year to 1.626%. This has resulted in profit-booking in assets considered as risky and as equities pullback, a temporary pause may be put on …

Despite being in the middle of a $1.3 billion lawsuit with the United States Securities and Exchange Commission, it appears that it is still business as usual for Ripple. Speaking to Reuters on Friday, Garlinghouse revealed that the company has not suffered any negative blowback in the APAC business theatre amid the current SEC lawsuit: “It (the lawsuit) has hindered activity in the United States, but it has not really impacted what’s going on for us in Asia Pacific.” In December 2020, the SEC charged Ripple and its principal executives of violating securities laws in the sale of XRP tokens …

Chris Larsen — Ripple’s executive chairman — has joined company CEO Brad Garlinghouse in moving to dismiss the securities violation case filed by the U.S. Securities and Exchange Commission. In a court letter filed on Wednesday, Larsen’s attorneys provided four arguments detailing the reasons why the case against the Ripple executive should be struck. According to the letter, the SEC cannot substantiate its claims that Larsen “knowingly or recklessly provided substantial assistance” towards the violation of Section 5 of the Securities Act of 1933. Arguing further, the letter stated that in 2015, when Larsen bore the designation of Ripple CEO, …

Bitcoin’s (BTC) resilience in the face of global market uncertainty continues to attract new institutional investors. Dan Loeb, the CEO of New York-based asset management firm Third Point, said that he has been “doing a deep dive into crypto.” To strengthen the venture investments team, Third Point hired former pro-crypto Goldman Sachs analyst Heath Terry, according to Reuters. Loeb’s move into crypto seems to have prodded 'Shark Tank' star Kevin O'Leary to allocate a portion of his portfolio to Bitcoin. Additionally, O'Leary hinted that every operating company that he had invested in was considering investing in Bitcoin. Billionaire Tim Draper …

The U.S. bond yields have softened and this has ignited investor's appetite for risk-on assets. After a negative closing last week, the S&P 500 has started the current week on a positive note. Thi bullish sentiment has also rubbed on to the crypto sector, which is surging higher, led by Bitcoin (BTC). After Tesla and Mastercard’s foray into Bitcoin, analysts at Citigroup believe that Bitcoin is at a “tipping point,” which could either take it mainstream and make it the preferred currency for world trade or result in a “speculative implosion.” Citi’s analysts expect the central bank digital currencies and …

Every bull market witnesses periodic pullbacks, where the weaker hands sell anticipating a top and the stronger hands accumulate for the long term. Data from Coinbase Pro shows two large Bitcoin (BTC) outflows this week, suggesting that institutions are likely continueing to buy the current dip. Comparing historical data, on-chain analytics resource Whalemap, recently said that previous macro tops in Bitcoin in 2017 and 2019 coincided with thousands of large Bitcoin transactions worth $5-7 million. However, the researchers believe there is “no such FOMO in sight for BTC.” JPMorgan strategists Joyce Chang and Amy Ho recently endorsed a 1% allocation …

Institutional investors continue to pour money into the crypto sector even with the current dip below $45,000. On Feb.24, business intelligence firm MicroStrategy announced that it had recently purchased over $1 billion worth of Bitcoin (BTC) at an average rate of $52,765 per coin. This takes the company’s total holding to 90,531 Bitcoin. Another company that bought Bitcoin during the current market correction is Square. The company said it had acquired roughly “3,318 Bitcoin at an aggregate purchase price of $170 million.” These purchases by institutional investors show they are bullish on the long-term prospects of Bitcoin and believe that …