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- Bitcoiner Samson Mow criticizes Ripple for spreading fear, uncertainty, and doubt (FUD) about Bitcoin and Tether.
- In the ongoing SEC v. Ripple case, the defendant has filed a motion to seal certain documents, citing potential harm to business interests.
- Analysts suggest that the SEC may deny Ethereum ETF applications, considering Ethereum as a security.
Explore the latest developments in the crypto world, including Ripple’s alleged FUD campaign, the SEC v. Ripple case, and the potential denial of Ethereum ETF applications by the SEC.
Samson Mow Accuses Ripple of Spreading FUD
Samson Mow, head of Jan3, has accused Ripple of spreading FUD about Bitcoin and Tether. Mow’s comments come in the wake of a confrontation between Ripple CEO Brad Garlinghouse and Tether CEO Paolo Ardoino. Mow sided with Ardoino, alleging that Ripple is attempting to gain traction for its own stablecoin by spreading FUD about Tether. Mow also recalled a similar incident in 2022 when Ripple reportedly paid $5 million to Greenpeace to launch a campaign against Bitcoin.
Ripple’s Past Actions
In 2022, Ripple, particularly its co-founder Chris Larsen, allegedly funded a campaign against Bitcoin’s proof-of-work consensus algorithm, advocating for a shift to a proof-of-stake one. This move, according to Mow, is consistent with Ripple’s current actions.
SEC v. Ripple: Motion to Seal Documents
In the ongoing legal battle between Ripple and the SEC, Ripple has filed a motion to seal or narrowly tailor some of its documents. Ripple argues that the public release of these confidential documents could cause “significant harm” to its business interests. The documents in question include information about Ripple’s earnings, revenues, expenses, and contractual agreements with third-party business partners.
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Ripple’s Request for Confidentiality
Ripple has requested to keep specific financial and pricing details confidential, despite acknowledging the relevance of its discounts provided to institutional XRP buyers. The company also seeks to protect the identities of certain nonparty financial institutions and employees.
Potential Denial of Ethereum ETF Applications
James Seyffart, an ETF analyst at Bloomberg Intelligence, has suggested that the SEC may deny several Ethereum ETF applications. Seyffart believes that the SEC is considering classifying Ethereum as a security, which could impact the approval of Ethereum ETFs. This development follows a statement by finance lawyer Scott Johnsson, who claimed that the SEC is considering the security status of Ethereum in its next spot ETF order.
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Conclusion
The crypto world continues to evolve with new developments and controversies. From Ripple’s alleged FUD campaigns to the ongoing SEC v. Ripple case and potential denial of Ethereum ETF applications, these events highlight the dynamic and complex nature of the crypto landscape. As the industry continues to grow, it remains crucial for investors and enthusiasts to stay informed and understand the implications of these developments.
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