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SEC vs. RIPPLE: ROUND 3 - COINBASE?!

SEC vs. RIPPLE: Round 3 - COINBASE?!


SEC vs. RIPPLE: Round 3 - COINBASE

 

 

ROUNDS 1 & 2 - Instant Replay:

Before we get to the final installment of SEC vs. RIPPLE, I would like to thank everyone for their overwhelming support.  As we take this journey to expand one’s knowledge in 2021 and beyond, XRPwriter is committed to bringing you top stories that will keep you up to date on the latest changes in the XRP ecosystem.

In Round 1, you had the SEC lawsuit against Ripple, with key influencers from both sides, facts & fud of XRP, and two quotes from David Schwartz Ripple’s CTO.  The first article was the Micro Perspective of the series, as it solely focused on what was going on in the United States.

Round 2, however, detailed Ripple from a Macro Perspective, displaying their international partnerships, where other countries stand on XRP, the number of unbanked globally, IMFs interpretation of XRP, and finally Ripple’s ambitious plans of being carbon net-zero by 2030.

Both rounds have significant amounts of information, allowing you to make an educated choice regarding Ripple’s standing.

 

 

ROUND 3: COINBASE?

12/30/20

Details in a Northern California Civil Court saw a lawsuit filed today, with a gentleman named Thomas C. Sandoval vs. Coinbase, Inc. in the spotlight alongside Coinbase, which has its headquarters in San Francisco, CA.  Sandoval’s nine-page class action claims Coinbase sold XRP with the knowledge that XRP was not a commodity but rather a security under federal securities laws.  The class action also details despite this knowledge, Coinbase continued offering XRP to the public and charged commissions for the sales.  It goes on to say that Coinbase should have known XRP would be considered a security because of technical integration with nodes Sandoval alleges are Ripple controlled.  In the entirety of the supporting evidence paragraphs, there are 39 line items, all painting a picture of abuses of the financial laws.

The Missouri resident is being represented by Benjamin Gubernick of Gubernick Law P.L.L.C., based in Phoenix, AZ.  Upon looking up Mr. Gubernick, I couldn’t find anything that spelled out a high-end lawyer, which will undoubtedly be the case with the team of lawyers that Coinbase will assemble.

Despite not having a prestigious legal defense, Sandoval isn’t looking for just a couple hundred thousand, nor will a few million tickle his fancy.  The lawsuit is asking for $10,000,000, with the “Cause of Action” being the “Violation of Unfair Competition Law,” which is a class action “UNDER RULE 23via federal rights procedures.  This case may not even reach another court date; with Coinbase set to IPO by Q2 2021, I’m confident in saying they may decide to concede to keep the heat down.

 

 

 

HOW OTHER ALTCOINS ARE REACTING AMIDST RIPPLE LAWSUIT:

One particular Alt I’d like to discuss is the Celsius Network, in which CEL is the ticker, and one thing the CEL team made sure they filed was a Form D with the SEC.  Would you be surprised to know that CEL’s price was just $0.42 on 09/01/20 and has gained over 3000% to the current market price of $5.49?  According to The Daily Hodl, an exciting thing to learn is that the Celsius Network pumped 84% in value last week alone. Other notable Altcoins to mention (Last 7d by %):

  1. POLKADOT (DOT) 👉 +69%
  2. CARDANO  (ADA) 👉 +31%
  3. BITCOIN CASH (BCH) 👉 +27%
  4. LITECOIN (LTC) 👉 +23%
  5. BINANCE COIN (BNB) 👉 +20%

As you can see, Altcoins are fairing pretty well despite the Ripple Labs lawsuit, so any rumor of assets being affected by XRP would be false.  I can’t stress enough the special attention you must pay to the Digital Asset space, especially as things move at a tremendously fast pace.  I am incredibly excited to have this opportunity to give individuals a solid foundation by reading my installments on XRP.  Please feel free to suggest blockchain platforms you are enthusiastic about, and I’ll be sure to deliver content on them in future articles.

  • Disclaimer - The views, thoughts, and opinions expressed here are the author’s alone and do not reflect or represent the views and opinions of Cryptowriter or Voice.

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Octavio Nares

 


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Tavio_Cryptowriter
Tavio_Cryptowriter

Loving Father; Genuine passion for Blockchain & Digital Asset with 10+yrs. experience. Striving to teach Minorities the incredible potential blockchain tech has and "The Internet of Value."


tavio_cryptowriter
tavio_cryptowriter

In 2008 I stumbled upon the most amazing discovery, a peer-to-peer payments system called Bitcoin. Since that day, I have dedicated my time teaching other Minorities the incredible potential blockchain technology has to offer. Readers can expect compelling articles that expand their knowledge covering; NFTs, DEFI, IOT, and in Q2 2021 the launch of The Rabbit Hole will commence( Special Guests, NFT sets, Giveaways, and more..). From now until the release we will keep track of comments leave NFT address

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