The Ripple v. SEC Battle
The ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC) has been a major topic in the crypto industry. The lawsuit, which started in December 2020, has seen various developments over the past few years. In July, Ripple scored a significant win when a US court ruled in its favor, stating that XRP was not an unregistered security.
However, the fight is far from over as the SEC has officially appealed the decision. Ripple is determined to secure a decisive victory and has spent $200 million on the case. The company has hired renowned lawyers and professionals to represent them, including former Assistant United States Attorney Rahul Mukhi and Lauren Belive, who worked at the White House under President Barack Obama.
What’s New With SHIB?
Shiba Inu (SHIB) has also made headlines recently with several developments. The coin has been adopted as a payment method for solar panel bills in Texas, and HSBC clients can now use it to settle mortgage payments and loans.
Additionally, Shibarium’s Marketing Strategist, LUCIE, revealed details about an upcoming application called Shiba Hub. This app aims to strengthen the Shiba Inu community through sharing, connectivity, and creative efforts.
The native token of the decentralized exchange ShibaSwap, BONE, has seen a significant price increase recently. It registered a 7% jump on September 26 and continued its rally with an additional 6.5% on September 27. BONE reached a valuation of $0.92 today, its highest since the beginning of the month.
The Shiba Inu team also announced that minting BONE is almost completed, which is a crucial step in renouncing its contract and relinquishing control and ownership of the token.
Earlier today, the official Shiba Inu Twitter account announced that the process has been officially renounced.
Hot Take: Ripple’s Legal Battle and SHIB’s Developments
The ongoing legal battle between Ripple and the SEC continues to unfold, with both parties fighting for their interests. Ripple’s victory in July was a significant milestone, but the appeal by the SEC shows that the case is far from over. With its substantial investment in legal expenses and the hiring of top-notch professionals, Ripple is determined to secure a decisive win.
Meanwhile, Shiba Inu (SHIB) has seen notable developments, including its adoption as a payment method and the upcoming Shiba Hub application. The price increase of BONE and the progress in renouncing its contract indicate positive momentum for SHIB. As both Ripple and SHIB make headlines in the crypto world, their outcomes will undoubtedly have an impact on the industry as a whole.
Sources: CryptoPotato
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