Cryptocurrency

Ripple Whales Dumped Tens of Millions of XRP on Binance!

Whale Alert, which monitors major cryptocurrency processes, recently shared the transfer of millions of XRP by Ripple whales. According to Whale Alert, a process worth 84.3 million XRP has taken place recently. The transfer took place on July 19 at 07:27 Turkish time. In the process, $49,238,566 XRP was transferred.

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https://twitter. com/whale_alert/status/1416977932736778243

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Bybt transfers XRP to Binance

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According to the data shared by Whale Alert, 84.3 million XRP was transferred to the famous cryptocurrency exchange Binance about five hours ago. According to the details, the process was carried out by the trading platform Bybt. Cryptocoin. com

As we reported , unlike Binance US and other major cryptocurrency exchanges, Bybt did not suspend XRP trading this year after the US Securities and Exchange Commission (SEC) took legal action against Ripple Labs in late December 2020. .

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Recent developments in Ripple and SEC case

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Suing Ripple in December 2020, the SEC argued that the San Francisco-based payments technology company’s sale of XRP was an unregistered security offering worth more than $1.38 billion. There was an unmistakable development towards the end of last week regarding this legal effort that has continued since then.

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Judge Sarah Netburn decided to refer to William Hinman, the former director of corporate finance at the US Securities and Exchange Commission. The U.S. Securities and Exchange Board and Ripple Labs have agreed to delay the deposition of William Hinman, former head of the SEC’s Corporate Finance Division, to July 27.

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Last week, US Magistrate Sarah Netburn decided to follow up with Hinman’s word with little delay to ensure that the SEC and Ripple reach an agreement on the scope of the term given the associated privilege woes. Hinman’s word was originally scheduled for July 19.

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Ripple’s defense attorneys wrote in a letter to Netburn on July 16: “The parties have made valuable progress in narrowing and resolving their franchise bets, and Hinman’s word has come without waiving any party’s rights over the next few days. they plan to hold additional meetings and talks to further narrow down and resolve matters. ”

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