{"id":34439,"date":"2024-07-18T06:45:24","date_gmt":"2024-07-18T06:45:24","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ripple-exits-positions-in-bitstamp-moneygram-and-tranglo\/"},"modified":"2024-07-18T06:45:24","modified_gmt":"2024-07-18T06:45:24","slug":"ripple-exits-positions-in-bitstamp-moneygram-and-tranglo","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ripple-exits-positions-in-bitstamp-moneygram-and-tranglo\/","title":{"rendered":"Ripple Exits Positions in Bitstamp, MoneyGram, and Tranglo"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Ripple has divested its holdings in Bitstamp, MoneyGram, and Tranglo, according to Crunchbase data. These moves mark significant changes in Ripple\u2019s strategic partnerships.<\/p>\n

In early 2023, Ripple acquired Pantera\u2019s stake in Bitstamp. The company had also secured a 40% stake in Tranglo back in 2021. Additionally, Ripple invested $50 million in MoneyGram in 2019 to facilitate foreign exchange settlements and cross-border payments. However, this partnership with MoneyGram was halted in 2021 following an SEC lawsuit against Ripple<\/a>, accusing the company of selling XRP as an unregistered security.<\/p>\n

Legal Challenges and Financial Implications<\/h2>\n

In a notable decision last summer, US District Judge Analisa Torres ruled that Ripple\u2019s automated, open-market sales of XRP, known as programmatic sales, did not qualify as security offerings, contrary to the SEC\u2019s allegations. However, the judge agreed with the SEC\u2019s assertion that Ripple\u2019s direct sales of XRP to institutional buyers were securities offerings.<\/p>\n

Following this, the SEC demanded Ripple to pay approximately $1.95 billion in penalties, which includes $876,308,712 in disgorgement, $198,150,940 in prejudgment interest, and another $876,308,712 as a civil penalty. Ripple\u2019s legal team has argued for a significantly lower penalty, suggesting $10 million as a fair representation of the company\u2019s actual gross revenues from institutional sales before the complaint.<\/p>\n

The exact timing of Ripple\u2019s divestitures from Bitstamp, MoneyGram, and Tranglo remains unspecified by Crunchbase. These moves highlight Ripple\u2019s strategic shift in response to ongoing legal and regulatory challenges. With these divestments, Ripple may be focusing its resources on navigating the complexities of the SEC lawsuit and ensuring compliance with financial regulations.<\/p>\n

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Despite these hurdles, Ripple continues to champion the adoption of blockchain technology in financial services. The outcomes of its legal disputes will likely set precedents for the crypto industry, particularly in terms of regulatory standards and compliance.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) Ripple has divested its holdings in Bitstamp, MoneyGram, and Tranglo, according to Crunchbase data. These moves mark significant changes in Ripple\u2019s strategic partnerships. In early 2023, Ripple acquired Pantera\u2019s stake in Bitstamp. The company had also secured a 40% stake in Tranglo back in 2021. Additionally, […]<\/p>\n","protected":false},"author":34,"featured_media":34440,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/34439"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=34439"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/34439\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/34440"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=34439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=34439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=34439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}