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A disgruntled XRP investor has filed a class-action lawsuit against Ripple, alleging that the company violated US and state-level securities regulations by selling the token to the general public.
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The XRP Ledger operates on a consensus protocol that differs from traditional proof-of-work (PoW) and proof-of-stake (PoS) mechanisms. [ 8 ] [ 3 ] Transactions are validated by a network of independent validators who reach consensus every 3 to 5 seconds, enabling rapid transaction settlement. [ 8 ]
Facebook recently paid 1.4 million Illinois residents $397 in 2022 as part of a class action lawsuit for facial recognition breaches through its “Tag Suggestions” feature, per CNBC.
The XRP price surge also comes as investors bet on the future of Ripple products. Fox Business reported that the company’s long-awaited stablecoin, RLUSD , is poised for regulatory approval in ...
The defendants agreed to turn over all data involving XRP transactions. [33] In July 2023, the district court ruled on the SEC lawsuit, finding that the XRP token sold by Ripple Labs was not a security. However, if sold in institutional sales, or used as a fundraiser, such actions could be classified as a security in those circumstances.
XRP saw a rather interesting weekend, with over 120 million tokens transferred across platforms as price noted a 9% fall. 120 Million XRP Moved as the Ripple Lawsuit Expert Discovery Wraps Up Skip ...
Settlement date is a securities industry term describing the date on which a trade (bonds, equities, foreign exchange, commodities, etc.) settles.That is, the actual day on which transfer of cash or assets is completed and is usually a few days after the trade was done.