Ripple (XRP) Accused of Bitcoin (BTC) FUD, Seeks Document Sealing, Ethereum (ETH) ETF Faces Denial: Key Crypto Updates

  • 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.

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.

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.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Michigan State Retirement Fund Invests $10 Million in Grayscale Ethereum Trust, Securing Major Stake

The Michigan State Retirement Fund has strategically positioned itself...

Grayscale Proposes Listing for Grayscale Digital Large Cap Fund (GDLC) as ETP with Bitcoin Dominating Holdings

On November 4, COINOTAG News reported that Grayscale has...

Fragmetric Completes Builder Round Financing to Enhance Solana Ecosystem Security and Liquidity

On November 4th, COINOTAG News reported that Fragmetric, a...

Vitalik Buterin Warns Against Exclusion of Russian Developers in Open Source Community

On November 4th, Vitalik Buterin, co-founder of Ethereum, took...

Bitcoin Volatility Soars Amid U.S. Election Impact on Crypto Markets

Bitcoin Volatility Surges as U.S. Election Heightens Stakes for...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img