Ripple’s Legal Win Triggers Surge in Demand for XRP on Linqto
Ray Fuentes, Linqto’s Community Director, has observed a significant increase in demand for Ripple’s equity on the Linqto platform following their recent legal victory and the classification of XRP as a non-security. This newfound legal clarity has sparked interest in owning Ripple’s equity.
The main reason behind this surge is the assurance that XRP is not considered a security, making it the only digital asset in the U.S. with a clear legal status due to the SEC’s inability to appeal the decision.
The Verdict That Changed the Game
Judge Analisa Torres’ ruling on July 13, 2023, in the SEC v. Ripple Labs, Inc. case brought about this significant change. The SEC accused Ripple Labs of selling unregistered securities, but Ripple successfully argued that XRP did not meet the Howey test criteria for an investment contract.
Fuentes also revealed that Linqto’s platform experienced a remarkable increase in investments, with an additional $10 million invested in Ripple following the legal victory. The total member investments on Linqto’s website have grown from $285 million to over $293 million, all thanks to the outcome of the Ripple case.
Linqto’s Bright Future
Linqto’s platform is currently witnessing unprecedented demand for Ripple equity and is poised for rapid expansion. The company plans to explore decentralized exchange operations and tokenized assets, solidifying its position as a key player in the evolving modern finance landscape.
Fuentes also briefly mentioned the potential approval of a Bitcoin exchange-traded fund (ETF). While he couldn’t provide an exact timeframe for this approval, he expressed optimism for regulatory progress and suggested that significant developments could be expected in 2024.
Hot Take: Linqto’s Role in the Crypto Market
Linqto’s platform has experienced a surge in demand for Ripple equity following the legal win and XRP’s non-security classification. With the certainty surrounding XRP’s legal status, investors are flocking to Linqto to own Ripple’s equity. This boost in demand has resulted in a significant increase in investments, with over $10 million poured into Ripple post-legal victory. Linqto is now positioned for rapid expansion and plans to delve into decentralized exchange operations and tokenized assets, solidifying its role as a major player in the modern finance landscape. The potential approval of a Bitcoin ETF also adds to the company’s bright future.
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