2023-07-14

šŸ† Ripple Triumphs: XRP Value Soars 70%!

Howdy, my excited little crypto bunnies!

So, itā€™s been very quiet over the last 24 hours, with hardly anything happening at all!

Ha ha, just kidding.šŸ¤£Todayā€™s newsletter will be a little longer; yesterdayā€™s groundbreaking news deserves a full investigation. šŸ•µļø

Before starting, letā€™s look at two other stories that deserve our attention.

  • šŸ“ā€ā˜ ļø Trump's Ethereum Cache

  • ā˜ƒļø Winter for Celsius

  • šŸ† XRP Triumphs

šŸ¤„ Trump's NFT Venture: Rich in Ethereum, Not Dollars

Donald Trump's NFT company, CIC Digital LLC, is a financial roller-coaster built on a web of deceit. 

While the bank account balance is under $1,000, the company owns an Ethereum wallet valued between $250k-$500k. šŸ¤¬

Not bad for someone who once tweeded; ā€œI am not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,ā€ 

The (now deleted) tweet went on to say:

ā€œUnregulated crypto assets can facilitate unlawful behavior, including drug trade and other illegal activity.ā€

Oh, Donaldā€¦You really are a walking contradiction. šŸ¤¦ 

ā„ļø Ex-Celsius CEO Caught in Crypto Chill

The saga of the defunct crypto lending platform Celsius just got more exciting than a spy novel. 

Celsius went belly-up in July 2022, sparking a crypto freeze that cost investors billions.

Yep, not cryptoā€™s finest hourā€¦Thanks, Alex! šŸ¤¬

The former CEO, Alex Mashinsky, was arrested a few days ago, A year after Celsiusā€™ bankruptcy.

Now, Mashinsky is in the hot seat, facing multiple charges, including securities fraud. šŸ§Æ

The question is whether the creditors can retrieve their assets or if they've melted away. 

One thing's for sure: the Celsius plot is thickening faster than Grandma's gravy.

šŸŒŠ A BIG Ripple in the Crypto Pond

In a landmark ruling for the crypto world, blockchain company Ripple secured a favorable verdict against the United States Securities and Exchange Commission (SEC).

Judge Analisa Torres deemed XRP, Ripple's cryptocurrency, to NOT fall under the securities classification. 

This decisive verdict is equivalent to a plot twist in a thriller, flipping the SEC's regulatory push in the cryptocurrency industry on its head.šŸ™ƒ

The judgment did not, however, completely exempt Ripple. 

It acknowledged that XRP sales to institutional clients constituted investment contracts, creating a shadow amidst Ripple's victory. 

This aspect of the judgment has raised eyebrows in the crypto community, notably from pro-XRP lawyer Bill Morgan.

Despite the setback, trading platforms like Coinbase and Binance.US have relisted XRP.

Itā€™s not often we can say ā€œto the moonā€ and not be hyperbolic! šŸš€

In a high tide for Ripple, XRP's price soared more than 87% within three hours post-verdict. Taking many other altcoins (including ADA, COTI, and ETH) along with it!

Quite a rollercoaster ride in the digital currency world!

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