Das Krypto-Projekt Mango Markets kommt nicht zur Ruhe und ergreift nun erneut Rechtsmittel, um sich gegen Betrug zu wehren.
Ripple Labs legt Gegenberufung im Verfahren mit der SEC ein
Ripple wehrt sich im Kampf mit der SEC und reagiert nun mit einer Gegenberufung auf den Einspruch der Behörde.
Ripple Labs files notice of cross-appeal in ongoing battle against the SEC
- Ripple Labs filed its cross-appeal in the US Court of Appeals for the Second Circuit
- The company is attempting to contest an August 7 judgement made by Judge Analisa Torres
- The SEC v Ripple Labs is a case that dates back to 2020
Ripple Labs has filed a cross-appeal in its ongoing litigation battle against the US Securities and Exchange Commission (SEC).
The filing was submitted to the US Court of Appeals for the Second Circuit. Ripple is attempting to challenge the judgement made against the company on August 7 where it was ordered to pay $125 million for violating securities laws by Judge Analisa Torres.
“Today, Ripple filed a cross-appeal to ensure nothing’s left on the table, including the argument that there can’t be an “investment contract” without their being essential rights and obligations found in a contract,” said Stuart Alderoty, chief legal officer at Ripple, in a post on X.
An ongoing case
In 2020, the SEC sued Ripple, Christian Larsen, the company’s co-founder and former CEO, and Brad Garlinghouse, Ripple’s current CEO, after alleging that they raised $1.3 billion through the sale of XRP, an unregistered securities offering, according to the regulator.
However, last year, Judge Torres found that XRP wasn’t a security when it came to the sales to the public, its employees, and developers, marking a huge win against the SEC. Yet, direct sales to institutional investors, Torres found that these sales were securities.
Alderoty continued: “Last year, the SEC unsuccessfully tried to take an early appeal of the rulings that Ripple’s XRP sales on exchanges and Ripple’s other XRP distributions, like to employees and developers, weren’t securities. They’ll likely go after these again – and they will lose on both again.”
Speaking on the matter, Garlinghouse said:
“With our cross-appeal today, we’re looking forward to sealing the SEC’s fate and finally putting an end to the SEC’s regulation-by-enforcement agenda. Ripple was the industry leader in the first go-round in court and we look forward to leading the way in this round as well.”
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Rexas Finance (RXS) up 100% in less than a month, is this the next Solana (SOL)?
The cryptocurrency market has witnessed a positive growth surge, and in conjunction with this, Rexas Finance (RXS) has increased by over 100% in less than a month. With its cutting-edge technology for the tokenization of physical assets and an expanding ecosystem, some people are starting to wonder: Is Rexas Finance the new Solana (SOL)? There has always been a question of whether RXS could emulate the same skyrocketing increase as Solana. This necessitates studying the curve of SOL, identifying the key factors of its success, and considering why Rexas Finance might be able to replicate, if not exceed this level.
The rise of Solana (SOL): A blockchain revolution
The use of Solana’s programming language is graphical in nature, and thus the UI elements may match ideas from vocabulary techniques. The graph of Solana (SOL) has largely revolved around being one of the most effective storytelling platforms within the cryptocurrency space. Starting from $1.50, Solana’s currency progressed remarkably in 2021 to hit $260, marking more than a seventeen thousand percent growth.
Its growth was additionally helped by a very efficient blockchain capable of processing thousands of transactions per second at very low transaction costs. As a result, Solana provided stiff competition to Ethereum.
Due to its quick, scalable, and secure network, Solana managed to attract developers, DeFi projects, and NFT marketplaces in no time, enabling it to rank as one of the top 10 cryptocurrencies. With the support of leading investors and growing interest, Solana quickly entered the geopolitics of the crypto world as a quick and cheap version of its competitors’ blockchains.
Will Rexas Finance (RXS) find a sustainable model like Solana did?
While Solana made efforts to enhance the scalability of the blockchain, Rexas Finance (RXS) is making a play for a different, but probably equally large, opportunity: the focus on asset tokenization.
This new area gives cryptocurrencies access to a huge market by creating tokens for assets like real estate, gold, hiring goods, and other expensive physical products that cannot be traded as currencies. Rexas Finance is set to change the way and cost at which real-world assets (RWA) are tokenized.
The global market for real estate is over $280 trillion. Investing in ways to map expensive physical assets like real estate and gold onto the blockchain can now provide real returns on investment.
RXS has been in the market for a little under a month but has seen its price surge above 100% within that time—a positive sign for the returns it offers to its consumers. If this project holds to this same growth trajectory, it could potentially offer similar returns to Solana, potentially rewarding its early investors with windfalls.
Rexas Finance ecosystem: Enhancing stakeholder value
The most fundamental reason for Solana’s success is attributed to the presence of an active ecosystem of both developers and users. In the same way, Rexas Finance has created an ecosystem that addresses the problem of real-life asset digitalization and adds value for investors.
Some exceptional highlights of how the Rexas Finance ecosystem works include:
- Rexas Token Builder: This tool enables individuals and organizations to issue and sell their own tokens based on real-world assets. Whether it’s real estate developers sourcing funds for a building through tokenization or individuals selling fractional ownership in their collections, the Rexas Token Builder offers a simplified approach to the tokenization of assets.
- Rexas Launchpad: Investors can buy equity stakes in projects backed by the tokenization of project assets in the form of shares. Rexas Launchpad brings together asset owners and investors from all over the world, replacing traditional systems of fundraising with promising decentralized methods of financing projects.
- Rexas Estate: One of the key features of the platform is real estate tokenization, which allows investors to own a stake in properties. This facilitates liquidity in real estate and lowers the entry barrier to this class of high-end investments.
- Perpetual Intentions: Since solving real-world problems is central to Rexas Finance’s long-term vision, it echoes Solana’s accomplishment with its fast blockchain network. It is projected that as more assets become tokenized and join the platform, the supply and pricing of RXS will perform well.
Why Rexas Finance is getting the attention of huge investors
Rexas Finance is not only gaining attention from retail investors—crypto whales and institutional investors are noticing it too. In fact, during its Stage 3 presale, Rexas Finance raised over $2.75 million when demand was high. Now, Stage 4 has been activated, providing tokens for $0.06 each.
Many investors are rushing to get RXS due to its practical use and the massive total addressable market (TAM) it taps into. Moreover, some analysts believe that from the current presale stage, RXS could appreciate to $50, which would make RXS one of the best investment opportunities in the crypto investment space today.
Additionally, Rexas Finance has organized a $1 million giveaway competition, which is already stimulating even more interest in the project and provides an extra incentive for early investors.
Conclusion: Some analysts believe Rexas Finance could follow in Solana’s footsteps
While Solana has already made its mark as one of the best blockchains globally, Rexas Finance (RXS) seems to be making waves in the tokenization of real-world assets. Rexas Finance could be poised to transform asset ownership and exchange by bridging conventional industries worth trillions, such as real estate and gold, with blockchain technology.
Having achieved over 100% growth within a month and cultivated a thriving ecosystem of use cases, Rexas Finance could arguably become the next big success, similar to how Solana was portrayed in its infancy. As more attention is directed toward this project and large investors continue to place their hopes on its future, RXS’s dominance seems within reach. For anyone wanting to get in early, Stage 4 of the presale is still live, and tokens are offered for $0.06.
For more information about Rexas Finance (RXS) visit the links below:
Website: https://rexas.com
Win $1 Million Giveaway: https://bit.ly/Rexas1M
Whitepaper: https://rexas.com/rexas-whitepaper.pdf
Twitter/X: https://x.com/rexasfinance
Telegram: https://t.me/rexasfinance
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SEC sues crypto market maker Cumberland DRW
- SEC has sued market maker Cumberland over offering and sale of unregistered securities.
- The regulator says Cumberland violated the US securities laws by operating as an unregistered dealer.
The US Securities and Exchange Commission has sued Cumberland DRW LLC, a Chicago-based crypto market maker, for acting as an unregistered securities dealer.
SEC said in a press release on Oct. 10 that Cumberland had violated the securities laws by buying and selling of over $2 billion worth of crypto assets since March 2018. In terms of crypto regulation, the SEC says the assets in question were “offered and sold as securities.”
Investment securities
According to the press release, Cumberland provided these crypto assets via its own accounts, the SEC added, which meant the company operated as an unregistered dealer.
The agency’s charge against the market maker also notes Cumberland’s description of itself as a “leading liquidity provider”, and traded with counterparties via telephone or its online platform Marea.
“Despite frequent protestations by the industry that sales of crypto assets are all akin to sales of commodities, our complaint alleges that Cumberland, the respective issuers, and objective investors treated the offer and sale of the crypto assets at issue in this case as investments in securities,” Jorge G. Tenreiro, acting chief of the SEC’s crypto assets and cyber unit, said in a statement.
Tenreiro added that Cumberland profited from these activities but did not provide investors and the broader market the crucial protections that registration with the regulator offers.
SEC seeks permanent injuction against Cumberland
In a complaint filed at the US District Court for the Northern District of Illinois, SEC alleges violation of Section 15(a) of the Securities Exchange Act of 1934.
In its argument, it wants a permanent injunction against Cumberland. The crypto platform should also forfeit all ill-gotten gains, and be slapped with a civil penalty.
SEC’s lawsuit against Cumberland come a day after US prosecutors charged 14 people and four crypto companies over market manipulation and fraud. Oct. 10 also saw Ripple file a cross-appeal following the regulators decision to appeal its case against Ripple.
Earlier this week, Crypto.com sued the SEC after the regulator issued a Wells Notice to the crypto exchange.
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