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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.
SEC v Ripple news updates appear to favor Ripple’s defense. Despite this, XRP continues its pullback from $0.91 levels struck in late March.
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.
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The XRP Ledger peer-to-peer overlay network is characterized by a small-world network topology, featuring a tightly clustered structure and short paths between nodes. [13] Information systems expert Mary Lacity notes that this platform "uses much less electricity than Bitcoin—about as much electricity as it costs to run an email server".
The whitewashing of unflattering details from Garlinghouse's Wikipedia page was a subject of discussion by Financial Times in August 2020. [ 13 ] On December 23, 2020, the U.S. Securities and Exchange Commission (SEC) issued a complaint alleging that Garlinghouse, Ripple Labs and Ripple Chairman Chris Larsen had committed multiple breaches of ...
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