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XRP’s price has skyrocketed in recent days, fueled by speculation of a favorable resolution to Ripple’s ongoing legal battle with the SEC following the resignation announcement of Gary Gensler, the SEC Chairman.  Ripple’s fight with the SEC over the classification of XRP as a security has weighed on the token’s price for years. Gensler’s exit could pave the way for a less aggressive regulatory stance, boosting investor confidence. On January 20, 2025 I will be stepping down as @SECGov Chair. A thread ️ — Gary Gensler (@GaryGensler) November 21, 2024 Trading at $1.40, XRP is up 23.79% in the last 24 hours, 72.31% over the week, and a staggering 164.60% over the past month. With its market cap surging from $29 billion to $79 billion in just 30 days, XRP’s rally has reignited conversations about its potential to breach the $2 mark. Picks for you ...

SEC Chairman Gary Gensler’s recent crypto warning s coincide with major asset managers filing for Bitcoin ETF approval, signaling regulatory scrutiny. SEC Chairman Gary Gensler recently delivered a series of warnings through a Twitter thread, urging potential investors in crypto assets to be mindful of the risks and regulatory landscape. In his thread, Gensler stated, “Those offering crypto asset investments/services may not be complying w/ applicable law, including federal securities laws.” He emphasized that investors in crypto asset securities might be deprived of key information and essential protections. A thread Some things to keep in mind if you're considering investing in crypto assets: — Gary Gensler (@GaryGensler) January 8, 2024 While Gensler’s thread did not explicitly address the pending Bitcoin ETF proposals, its timing raised eyebrows in the crypto community. This came just hours after major asset managers, including BlackRock,...

Stuart Alderoty , Ripple ’s Chief Legal Officer boasting over three decades of legal prowess, recently took to Twitter to criticize the evasiveness of SEC Chairman Gary Gensler , during a hearing at the House Financial Services Committee. The heat intensified as Rep. Ritchie Torres questioned Gensler, prompting Alderoty to remark, “Gensler Didn’t Know What Hit Him Until It Was Too Late.” The core of the criticism revolved around Gensler’s seeming inability to directly answer Rep. Torres’s fundamental questions, like the necessity of a contract in an investment agreement. Torres labeled Gensler’s evasive responses as “deafening and damning.” Instead, Gensler seemed more inclined to criticize the cryptocurrency sector and how certain crypto firms manage their customers’ assets. Alderoty was taken aback by Gensler’s open amusement about his wealth, sparking indignation within the XRP community. Some questioned whether Gensler’s priorities lay mo...

The billionaire is the latest to argue that the United States Securities and Exchange Commission hasn’t provided crypto firms with a registration process to follow. Billionaire investor Mark Cuban has become one of the latest industry figures to call out the United States securities regulator for purportedly failing to provide cryptocurrency firms with a clear registration process. The Shark Tank investor claimed in a June 11 tweet that no registration exists in the SEC’s “Framework for ‘Investment Contract’ Analysis of Digital Assets” document, making it “near impossible to know” what constitutes a security in the “crypto universe.” “Unfortunately none of the elements presented in this page are part of the registration process. Which makes it near impossible to know, with or without an army of securities lawyers, what is or is not a security in the crypto universe.” This is an SEC WEB PAGE about the howey test and tokens that often conflicts with what @SEC_Enforcement has said pu...

Twitter community note added to the tweet that Coinbase had to sue the SEC to attempt to get simple clarity over the issue that this tweet alleges the crypto company guilty of. advertisement Twitter crypto community thanks Elon Musk Crypto community thanked Twitter for rising up and labeling Gary Gensler ’s tweet as lacking important context. The lack of context in the case of Coinbase is important because the US-based crypto firm has repeatedly claimed that they asked the SEC for clear guidelines many times. The exchange is currently suing the SEC over it. Coinbase is a publicly listed company in the United States. The IPO of Coinbase was cleared by none other than the US SEC. Gary Gensler’s awkward relationship with crypto As reported earlier today, Binance’s lawyers have claimed that Gary Gensler had offered to work for Binance in 2019 as an advisor. Gensler was not the head of SEC at the time. In 2023, he has filed a lawsuit ag...