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The Feds Are Giving You 2 Reasons To Be Bullish About Ripple (XRP)

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A few days ago, Global Coin Report highlighted the case for Ripple (XRP) being classified as NOT being a security with the recent decision on Ethereum (ETH) by the SEC regarding the same. This means that it might be a matter of time before the SEC declare XRP as not being within its regulatory reach. In the statement, William Hinman, Director of the SEC’s Division of Corporate Finance, said that:

“When we think about how ether today is operating, at least, we see a highly decentralized network, not the type of centralized actor that characterizes securities offerings. In its current state, we don’t see value regulating it.”

This statement by an SEC official is the first reason why the Feds are giving you a reason to be bullish about XRP. XRP is purely decentralized and a separate entity from the parent company of Ripple.

That said, it is only a matter of time before a current lawsuit filed against the Ripple company disintegrates. This lawsuit was filled by a disgruntled trader who lost 30% of his investment value due to the market decline we have been experiencing. The plaintiff claims that XRP is an unregistered security and wants the parent company to pay for attorney fees, the cost of the suit and punitive damages.

Furthering a second case where the Feds are giving you a reason to be bullish about XRP, is that one of Ripple’s top executives, Ryan Zagone, has been elected to the Federal Reserve’s Faster Payments Task Force Steering Committee. Zagone joins a 16 member committee that represents the working group’s numerous stakeholders. The current number of participants in the task-force number 321. The steering committee representing them and offers guidance on how to go about figuring out how to realize the vision of a US payment system that it is faster, ubiquitous, broadly inclusive, safe, highly secure, and efficient by 2020.

Zagone will be able to lend his expertise in issues relating to Ripple working with financial institutions, regulators and central banks. Zagone is currently Ripple’s Head of Research on the Business Development team. He has vowed to leverage Ripple’s global experience as the task force assesses ways to increase the speed, efficiency, access to and competition in payments in the US.

His election to the Steering committee only means that Ripple has proven once again itself to the Federal Reserve authorities and those in the task-force in terms of being the future of international payments and remittance services. Perhaps it is only a matter of time before the Federal Reserve joins RippleNet and starts using other Ripple products.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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