The Ripple Thread

makeorbrake wrote: »

Doesn't Ripple own Monegram?

No something like 25% shares in the company

The Sec have charged Ripple and two Execs
https://www.sec.gov/news/press-release/2020-338

Article
The Securities and Exchange Commission announced today that it has filed an action against Ripple Labs Inc. and two of its executives, who are also significant security holders, alleging that they raised over $1.3 billion through an unregistered, ongoing digital asset securities offering.

According to the SEC's complaint, Ripple; Christian Larsen, the company's co-founder, executive chairman of its board, and former CEO; and Bradley Garlinghouse, the company's current CEO, raised capital to finance the company's business. The complaint alleges that Ripple raised funds, beginning in 2013, through the sale of digital assets known as XRP in an unregistered securities offering to investors in the U.S. and worldwide. Ripple also allegedly distributed billions of XRP in exchange for non-cash consideration, such as labor and market-making services. According to the complaint, in addition to structuring and promoting the XRP sales used to finance the company's business, Larsen and Garlinghouse also effected personal unregistered sales of XRP totaling approximately $600 million. The complaint alleges that the defendants failed to register their offers and sales of XRP or satisfy any exemption from registration, in violation of the registration provisions of the federal securities laws.

"Issuers seeking the benefits of a public offering, including access to retail investors, broad distribution and a secondary trading market, must comply with the federal securities laws that require registration of offerings unless an exemption from registration applies," said Stephanie Avakian, Director of the SEC's Enforcement Division. "We allege that Ripple, Larsen, and Garlinghouse failed to register their ongoing offer and sale of billions of XRP to retail investors, which deprived potential purchasers of adequate disclosures about XRP and Ripple's business and other important long-standing protections that are fundamental to our robust public market system."

"The registration requirements are designed to ensure that potential investors – including, importantly, retail investors – receive important information about an issuer's business operations and financial condition," said Marc P. Berger, Deputy Director of the SEC's Enforcement Division. "Here, we allege that Ripple and its executives failed over a period of years to satisfy these core investor protection provisions, and as a result investors lacked information to which they were entitled."

The SEC's complaint, filed today in federal district court in Manhattan, charges defendants with violating the registration provisions of the Securities Act of 1933, and seeks injunctive relief, disgorgement with prejudgment interest, and civil penalties.

The SEC's investigation was conducted by Daphna A. Waxman, Jon A. Daniels, and John O. Enright of the SEC's Cyber Unit. The case is being supervised by Kristina Littman, Chief of the SEC Enforcement Division's Cyber Unit. The SEC's litigation will be conducted by Jorge G. Tenreiro, Dugan Bliss, Ms. Waxman, and Mr. Daniels, and supervised by Preethi Krishnamurthy.

It's tanking

Tether has over taken in market cap

This is gonna get much worse before it gets better I reckon.
I closed all positions until it bottoms or some better news comes out of it.

olestoepoke wrote: »

Do you think it'll survive? Might be a good time to buy as a long term investment.

I would wait and see what the exchanges are going to do first. It's quite possible it will drop much lower especially if a major exchange drops it.
As a long term investment it will probably be worth it depending on the outcome but I would wait and see what happens first in the short term.

olestoepoke wrote: »

I'm new to this so please excuse my ignorance. I'm thinking of investing about 1,000e to start with. Long-term investment, as in leave it alone for at least 4 or 5 years see what happens. I've been reading up and it seems the boat has sailed on Bitcoin so what's the general advice? I was thinking diversity, as in a few Litecoin and ripple. Are there any others that you guys/gals recommend. Thanks in advance.

Obviously this is not investing advice, more just fun talk.

I would consider adding Defi into your portfolio. Consider Chainlink and / or Synthetix.

Bitcoin and Ethereum are your staples.

If a €1000 is spare change to you then go all in but if not then you should consider Dollar Cost Averaging.

olestoepoke wrote: »

I'm new to this so please excuse my ignorance. I'm thinking of investing about 1,000e to start with. Long-term investment, as in leave it alone for at least 4 or 5 years see what happens. I've been reading up and it seems the boat has sailed on Bitcoin so what's the general advice? I was thinking diversity, as in a few Litecoin and ripple. Are there any others that you guys/gals recommend. Thanks in advance.

Bitcoin, bitcoin and bitcoin.

If all you aim to spend is 1k, and you want to leave it alone for a few years then don't look at anything else other than bitcoin.

olestoepoke wrote: »

Buy now or wait for another drop?

Million dollar question. Impossible to know if there will be a dip or a jump.

Best advice is to average in over a few days/weeks.

You have to consider if this is a bet or investment. If it's a bet and you are willing to lose your money for a chance to 10x it, go back a horse. At least you'll have the excitement of the race and you will know when it's over. Backing some sh*tcoin and watching it go up and down and go on for years will wreck your head.

If it's an investment I'd follow Buffets first rule of investing is:
Don't lose your initial investment.

This is closely followed by his 2nd and 3rd rule:
Don't lose your initial investment.

BTC is not gona be as exciting as an altcoin, but it has the highest probability of not losing your initial investment.

masterboy123 wrote: »

I am new to cryptocurrency. I invested in Ripple 2 weeks ago and its going down. That looks like a loss to me

Only a loss if you sell.

What about after couple of months? Any hope?

el diablo wrote: »

Only a loss if you sell.

masterboy123 wrote: »

What about after couple of months? Any hope?

Yeah, it'll probably survive. I wouldn't sell at a loss unless it's money you can't afford to lose.