US Blockchain Association Policy President Jake Chervinsky supported Ripple's SEC case by posting on his personal social media account. Chervinsky stated that no one, including Elon Musk, has won the SEC this much:
“Whatever your view on Ripple, two things seem clear. They're giving the SEC more trouble than anyone else in the cryptocurrency market, even Elon Musk. In fact, perhaps the SEC has never had this much trouble at any given time. They lead the emerging disputes over securities law.”
Replying to Chervinsky's message, Nik Bougalis, one of the Ripple engineers, stated that there is unnecessary hostility in the market against Ripple, but despite this hostility, the blockchain community should stand by Ripple.
“Your comments and thoughts on topics in this field have been extremely interesting and I have learned a lot from you. I have always found you to be objective and someone who can explain complex legal issues. I'm sorry you feel the need to take this step. As I've said before, whatever your personal view on this case may be (which I don't know, and frankly I don't need to), I have always admired your willingness to explain things and your ability to look at things objectively.”
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Nik Bougalis recently announced that Ripple has launched a testnet with NFT support, in an article on his personal blog.
Whales transfer $250 million XRP
In the last twenty-four hours, a total of $250 million worth of XRP was moved in 3 loaded XRP transfers. Most of these transfers were directed to the China-based Huobi exchange. Huobi mediates cryptocurrency exchange Ripple to connect with far east payment corridors.
While it is unclear which whale accounts made the other large transfers, some sources claim that they belong to ByBit and the popular cryptocurrency exchange Binance.
Binance announced this week that it will support Wrapped Ripple (wXRP) transactions:
“Binance has completed the wXRP integration and opened wXRP deposits on Ethereum (ERC20). Binance will open wXRP withdrawals on the Ethereum Network (ERC20) at a later date. No further announcement will be made for this.”
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