XRP & 1Inch Naughty or Nice?

XRP & 1Inch Naughty or Nice?

Santa’s Naughty List:

The U.S. Securities and Exchange Commission (SEC) shoved a fist full of coal up Ripple’s and XRP investor’s asses this week when they filed a lawsuit against Ripple. The current CEO, Bradley Garlinghouse, and the co-founder of Ripple, Christian Larsen, allegedly sold $1.3 billion in unregistered securities.

Garlinghouse posted on the company blog responding to security allegations. 

  1. XRP is not an "investment contract." XRP holders do not share in the profits of Ripple or receive dividends, nor do they have voting rights or other corporate rights. Purchasers receive nothing from their purchase of XRP except the asset. In fact, the vast majority of XRP holders have no connection or relationship with Ripple whatsoever. 

  2. Ripple (our company) has shareholders; if you want to invest in Ripple, you do not buy XRP but rather shares in Ripple.

  3. Unlike securities, the market value of XRP has not been correlated with Ripple's activities. Instead, the price of XRP is correlated to the movement of other virtual currencies.

So, what is Ripple if not a security…worthless?

Garlinghouse responded to the move made by the SEC by saying, “It’s an attack on the entire crypto industry and American innovation.” This is coming from the guy who’s had a grudge against Bitcoin, Ethereum and all “Chinese controlled crypto assets”. 

After the news of the SEC lawsuit, XRP has plummeted 49%, and was taken off of multiple exchanges including, Beaxy, B2C2, Bitstamp, CrossTower, and OSL. If the SEC wins, it could lead to more trouble for XRP, as it would be delisted from even more exchanges. It will be interesting to see how this ruling will affect altcoins and U.S. investors.


Santa’s Nice List

Christmas came early for the users of 1inch exchange as they airdropped 90 million 1INCH tokens to more than 55,000 wallets. Imagine missing out…didn’t you learn anything from the Uni drop? That’s probably why you’re still holding an XRP bag huh?

In the first 24 hours, 1INCH was up by 16%, peaking at $2.91 before taking a post-launch dump. The exchanged launched a liquidity mining program for 1INCH liquidity providers on Dec. 26. Will this DEX aggregator be able to take over the market from Uniswap?

Let us know which list Santa put you on in our discord

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