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XRP Must Give Financial Statements to SEC in Ongoing Lawsuit, Court Rules – Investors Move to this Top ICO Amid Rise in Sentiment

February 11, 2024
in Business
XRP Must Give Financial Statements to SEC in Ongoing Lawsuit, Court Rules – Investors Move to this Top ICO Amid Rise in Sentiment
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In a twist that caught many by surprise—given Ripple’s (XRP) partial victory last year—a U.S. judge has demanded Ripple Labs hand over historical financial statements. Judge Sarah Netburn sided with the US SEC in a Monday court filing, ordering the fintech company to produce its records from 2022 to 2023. 

In addition, Ripple will have to answer questions regarding the amount of XRP institutional sales proceeds it received. If you think you are having a bad week, you can’t be worse off than Ripple. So, the legal battle continues, and Ripple definitely can’t wait for a timeout or ceasefire—assuming there will be one.

With investors hoping to ride the “Jupuary” wave following the JUP airdrop claim and the resulting frenzy, there has been massive interest in InQubeta (QUBE). Currently one of the most sought-after tokens, QUBE has been hailed as the best new crypto to invest in.

InQubeta (QUBE): A Promising Investment

InQubeta (QUBE) is among the most promising new ICOs in the crypto scene right now. It recently soared past $8.9 million in its ongoing presale, which is no mean feat. In the seventh stage of the ICO, a token costs just $0.0224 and is tipped for a 6,000% rally by analysts.

Undoubtedly, its staggering upside potential as a top ICO is one of its biggest appeals. But that isn’t all. Of equal importance are the critical issues it aims to solve, which endears it to investors as it is poised for massive adoption and staggering growth.

It stands at the intersection of AI and blockchain—a bullish narrative—and aims to solve key problems within the AI sector. It will build the first crowdfunding platform for AI tech startups through crypto. In addition, its custom-built NFT marketplace will serve as a hunting ground for next-generation AI products. To become an early adopter, click the link below.

buy-qube-now

Ripple (XRP): Court Orders Handing over Financial Statement in Ongoing Lawsuit

Ripple’s (XRP) lawsuit against the US SEC continues. Given the recent ruling in favor of the SEC, no one would wish to trade places with the fintech company. In a Monday court filing, Judge Sarah Netburn—siding with the SEC—ordered Ripple to produce its records from 2022 to 2023. The payment protocol will also have to answer how much proceeds it received from the institutional sales of XRP.

It is to be recalled that in 2020, the SEC hit Ripple with a $1.3 billion lawsuit, alleging it undertook unregistered sales of securities in the form of XRP. However, last year, in July 2023, Ripple scored a partial victory, which sent ripples of excitement across the crypto landscape. The price of XRP also skyrocketed, hitting $0.8—2023’s ATH. But it has been downhill ever since for XRP. Solana flipped it in market cap, and it recently lost key support.

Given the significant win in the years-long legal battle, Ripple has experienced a rude awakening. In the recent court ruling regarding its financial statement, Netburn stated, “At this stage, the Court sees no basis to short-circuit that inquiry by denying access to readily available information that may be probative to the remedy stage.”

Meanwhile, according to Brad Garlinghouse, the CEO of Ripple, the SEC is going after the good guys. With the future of XRP uncertain until the end of the lawsuit, it is difficult to say if it is a good crypto to buy or not.

Conclusion

Ripple has been ordered to produce its financial statement to the SEC in an ongoing lawsuit, according to a recent court filing. This is probably not good news for the crypto payment protocol. Meanwhile, InQubeta has emerged as a go-to investment, with investors hoping to ride its massive bullish wave.

Visit InQubeta Presale 

Join The InQubeta Communities

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Coinpedia – https://coinpedia.org/uncategorized/investors-move-to-this-top-ico-amid-rise-in-sentiment/

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