Grayscale dissolves XRP, where should XRP go?
1. Introduction to XRP
XRPIt is the base currency of the Ripple network issued by Ripple in 2013. It is also the only common currency in the Ripple system. It is different from other currencies in the Ripple system. It can be withdrawn across gateways. It also has low transaction fees, anonymity, Safety, reliability and other characteristics. Its market value once surpassed that of Ethereum, ranking second in the world.
Although XRP has an old qualification, it is actually quite different from other mainstream digital currencies: XRP does not have the private placement, mining and other processes experienced by other mainstream assets, and all circulating XRP is officially sold by the public. Perhaps it is precisely because of this that XRP was sued by the SEC, claiming that it is a security, with a series of consequences.
2. SEC charges XRP
On December 23, 2020, the US Securities and Exchange Commission SEC tweeted that the SEC had filed a lawsuit against Ripple Inc, accusing the company of violating the law "prohibiting the sale of unregistered securities" when selling XRP to investors. Founded in 1934, the SEC is an independent quasi-judicial agency directly under the United States. It is responsible for the supervision and management of securities in the United States. It is the highest institution in the US securities industry and is equivalent to China's Securities Regulatory Commission. Affected by the XRP incident accused by the SEC, many exchanges have delisted XRP or suspended trading, and the value of XRP has also plummeted.BitZAt present, XRP transactions can still be carried out, but because XRP has not passed the local compliance assessment, American users have not been able to carry out XRP transactions on the Bizai platform.
In response to the SEC's allegations, the Ripple CEO immediately launched a counterattack on Twitter: "Today, the Securities Regulatory Commission decided to attack encryption technology. In the final resolution of the Securities Regulatory Commission Chairman Jay Clayton, he is picking the winners of the cryptocurrency industry and trying to bring the US encryption industry innovation is limited to BTC and ETH”.
3. Grayscale and XRP: Announcing the Dissolution of the XRP Trust
On January 14, Grayscale Investment announced on its official website that, according to the US Securities and Exchange Commission (SEC)’s litigation supervision on XRP as a security, Grayscale Investment decided to start liquidating and disbanding its XRP trust—Grayscale XRP Trust , which is based on the currentXRPimage description
Grayscale’s latest position data From AICoin on January 16
4. The future of XRP under SEC charges
Due to the SEC’s accusation, the value of XRP has dropped by as much as 70% from the highest point of 0.78 to the lowest point of 0.213. The SEC’s accusation against Ripple has not yet been resolved, but industry insiders have analyzed the possibility that Ripple will eventually pay compensation and reconciliation. , there is news that Ripple is also trying to settle with the SEC.
There have also been some positive signs regarding the SEC’s alleged XRP incident. According to news,XRPThe largest community is in Japan, and Japan’s Financial Services Agency (FSA) recently stated that XRP is not a security, but a cryptocurrency; many Ripple supporters are optimistic about the SEC’s allegations. In any case, this XRP black swan event has reminded people that the investment market is changing and decisions need to be cautious!
『Disclaimer: This article is the author’s independent point of view and does not represent the official position of the coin. This content is only for the learning and communication of friends in the coin circle. It does not constitute investment opinions or suggestions. Please treat it rationally, establish correct concepts, and increase risk awareness. 』
