🔥Steven McClurg, CEO of Canary Capital, has stated that utility tokens will outperform Bitcoin in the current market cycle – and that $XRP will be at the forefront of this trend.
🚨JUST IN: The @SECGov has announced a settlement with @Ripple, @bgarlinghouse and @chrislarsensf.
The parties have agreed that Ripple will pay $50M of the original $125M penalty, with the rest being returned to them.
Both sides will drop appeals if the court agrees to lift the injunction placed on Ripple.
SEC vs Ripple Case moves to hold the appeal in "abeyance".
Definition: A temporary suspension of activity while awaiting the resolution of some other proceeding without which the activity in abeyance cannot continue.
Today, @Ripple announced the acquisition of Hidden Road for $1.25B, one of the largest deals ever in the crypto space. But the price tag isn’t what’s most important – it’s that this deal marks a once-in-a-lifetime opportunity for crypto to access the largest and most trusted traditional markets, and vice versa.
Prime brokers (along with other key functions historically managed by banks for the most part) like Hidden Road have proven themselves as *the* trusted intermediary for the largest hedge funds, market makers, OTC desks, quant traders and more. Ripple has been a customer of Hidden Road for years, and we know their breadth of expertise firsthand, clearing $3 TRILLION annually for 300+ of the top financial institutions globally.
This is the capital and activity that will tap into XRP and the XRP Ledger’s bread-and-butter – instant, efficient, scalable and low cost movement of value. Instead of waiting for <24 hours to settle trades through fiat rails, Hidden Road will be using XRPL for clearing a portion of trades, and most consequentially, using RLUSD as collateral across its prime brokerage services, including cross-asset (crypto and traditional instrument) trades.
With this deal and the backing of Ripple’s significant balance sheet, Hidden Road will exponentially expand its capacity to service its pipeline and become the largest non-bank prime broker globally.
Ripple and Hidden Road combined are a generational leap forward, ready to truly bring the worlds of traditional and decentralized finance together. https://t.co/UYOOyQ21dG
This is it – the moment we’ve been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it.
The future is bright. Let's build.