XRP is clearly not a security, unlike the very definition of a security

in #gjdkhlslast year

XRP is a decentralized digital currency and digital asset. This is the name that represents the account unit on the Ripple network and serves as the mechanism for exchanging values. XRP was developed by Ripple Labs, a US-based company focused on improving financial services using distributed ledger technology and other blockchain expertise.

Ripple is a cryptocurrency, or digital asset, that can be exchanged for other currencies, commodities, and even fiat currencies (currencies issued by central banks). However, Ripple has no intrinsic value and cannot be used as a real currency. Instead, it is used as a medium of exchange between fiat currency and other assets such as stocks and bonds.

XRP is designed to allow payments in any currency, including fiat currencies such as dollars and euros, or cryptocurrencies such as Bitcoin and Ether (Ethereum's native token). While XRP can now be traded on many exchanges around the world, including Bitstamp (listed under the ticker symbol “XRP”), Kraken, and Gemini, there are a number of reasons why XRP could be traded in statutory exchanges such as the US dollar, British pound, etc. Currencies cannot be traded. Regulatory reasons or euro purchase restrictions on these exchanges.

Sort:  

Grayscale Bitcoin Investment Trust (OTCQX: GBTC) is an investment trust managed by, listing on, and subject to all regulatory requirements of OTC Markets Group Inc., The Investment Company Institute and the exchanges where it's traded. Grayscale’s Bitcoins are stored offline in secure vaults with no risk of theft or loss.

Franklin Templeton's Bitcoin ETF application follows a series of notable developments in the cryptocurrency ETF space. In late August, the SEC opted to delay its decisions regarding spot ETF applications from several other companies, including WisdomTree, Valkyrie, Fidelity, VanEck, Bitwise and Invesco. In their application, Franklin Templeton outlines the structure of the proposed fund:

In the letter, Grayscale stated that their Bitcoin Trust is not a security or investment product. Rather, it is primarily investment advice based on holdings of virtual currencies. The application was not submitted to nor approved by the SEC because Grayscale's proposal did not have material differences from other, existing Bitcoin ETPs available for trading.

CoinEx was hacked, with assets worth nearly $28 million stolen. The company halted deposits and withdrawals on its official website. This is all the information we have at the moment, but we'll update this article if we hear more.

Last week, a federal appeals court ordered the SEC to revisit its initial refusal to convert Grayscale's Bitcoin Trust into an ETF.

The latest update of the Tron Virtual Machine (TVM) 2.0 was released on April 9th and it added some new tools for developers. It has a lot of interesting features that will be useful to make more decentralized applications on the network.

Last week, a directive from a federal appeals court necessitated that the SEC revisit its initial refusal to convert Grayscale's Bitcoin Trust into an ETF.

CoinEx, a cryptocurrency exchange based in Hong Kong has been hacked. The perpetrators managed to drain $28 million worth of assets from its hot wallets for Ethereum, TRIN and Polygon. The platform said it stopped deposits and withdrawals until it could find out how the money was stolen.

Mohamed El-Erian, the chief economic advisor of Allianz, recently told CNBC that bitcoin could be worth $100,000 by 2022.

Mohamed El-Erian, the chief economic advisor at Allianz, says the cryptocurrency industry is getting more institutionalized and maturing well. The economist and president of Queen’s College, Cambridge, shared the outlook during an interview with CNBC’s “Squawk Box” show on Tuesday.