Skip to main content

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment

Judge rejects XRP hodlers' bid to join SEC against Ripple case as defendants

The judge ruled that the SEC would be required to launch enforcement actions against each individual XRP holder should they be allowed to participate in the case as defendants.

There has been another twist in the ongoing battle between distributed ledger technology firm Ripple and the U.S. Securities and Exchange Commission (SEC).

On Monday, Oct. 4, U.S. District Judge Analisa Torres ruled that individuals holding the company’s XRP token cannot act in Ripple’s ongoing lawsuit as defendants.

The determination comes after a number of XRP token holders aimed to file “friends of the court” briefs which would allow them to join the case as defendants and support Ripple in its claims that the token does not violate securities laws.

Judge Torres asserted that allowing XRP holders to join the suit would “compel the SEC to take an enforcement action against them,” according to Law360. She added that it would also delay the case which Ripple and token holders have urged for a quick resolution to.

However, the judge determined that tokenholders can participate as “amicus curiae” — a party that is not involved in the litigation but is allowed by the court to advise or provide information. Torres stated:

“The court concludes that amici status strikes a proper balance between permitting movants to assert their interest in this case and allowing the parties to remain in control of the litigation.”

Counsel for Ripple, Andrew Ceresney, said that they were pleased with the outcome for XRP holders that can now “share their meaningful perspectives with the court.”

In a motion to intervene filed in March, the XRP holders claimed that they stood to lose billions should the regulator win the case. It also questioned the SEC’s claimed motives of protecting investors.

“Claiming to protect investors, the SEC is seeking $1.3 billion in alleged ill-gotten gains from the named defendants, but by alleging that today's XRP may constitute unregistered securities, the SEC caused over $15 billion in losses for XRP holders,” the filing said.

Related: XRP purchasers back Ripple, arguing that it is not a security

In a blog post in September, Deaton wrote that it was unfair that Ethereum has a regulatory “free pass” for its initial coin offering (ICO) while Ripple is being penalized. The circulation of XRP has been tightly controlled by the San-Francisco-based company which still holds around 55% of the supply in escrow.

In an interview on Oct. 4, Ethereum co-founder Joseph Lubin hit back, siding with the regulator in stating that it had legitimate claims against Ripple:

“[The SEC] may have legit arguments in the cases that are being discussed right now. I don’t believe the SEC is trying to squelch innovation.”
https://ift.tt/3AbXsnJ
Labels:

Comments

Post a Comment

Popular posts from this blog

Blockchain Software Firm Consensys Acquires Mycrypto Ethereum Wallet

On February 1, the blockchain infrastructure firm Consensys has revealed it has acquired the Ethereum-based wallet Mycrypto and plans to merge the wallet into Metamask. The price Consensys paid for Mycrypto was not disclosed but the announcement notes that the acquisition will “further improve the security of all the products.” Consensys Obtains Mycrypto Ethereum Wallet, Plans to Merge With Metamask in the Future Consensys has acquired the Ethereum-based wallet Mycrypto for an undisclosed sum according to an announcement released on Tuesday. The deal aims to strengthen the company’s Ethereum wallet Metamask and “enhance Web3 experiences.” The eventual merger between the two Ethereum interfaces will “provide users with a heightened experience that is even more extensive and secure,” according to Consensys. Consensys is an Ethereum software company led by one of the Ethereum co-founders Joseph Lubin. The Web3 wallet Metamask, with 21 million monthly active users (MAUs) is owned by C...
Post a Comment
Read more

Bitcoin Legal Tender in 3 Days but Survey Shows 7 Out of 10 Salvadorans Want Bitcoin Law Repealed

Bitcoin is becoming legal tender in El Salvador in three days. However, a nationwide survey conducted by the University Institute of Public Opinion (Iudop) shows that seven out of 10 Salvadorans want the government to repeal the Bitcoin Law. El Salvador’s Bitcoin Law Goes Into Effect in 3 Days The University Institute of Public Opinion (Iudop) in El Salvador conducted a study between Aug. 13 and Aug. 20 of how the public views the country’s upcoming Bitcoin Law. The institute is a research center of the José Simeón Cañas Central American University (UCA). El Salvador’s Bitcoin Law is set to go into effect on Sept. 7 , when BTC will be legal tender in the country alongside the U.S. dollar. A total of 1,281 respondents ages 18 and over participated in this national survey that “represents the entire adult population residing in the country,” according to the institute. Out of all the respondents, 62.4% said they were aware of the approval of the Bitcoin Law by the deputies of the ...
Post a Comment
Read more

The Congolese Mountain of Gold: Surprise Discovery in Africa Shows Metal’s Scarcity Is Hard to Prove

A myriad of gold bugs like to compliment the yellow precious metal for its ostensible scarcity, as estimates say only 2,500 to 3,000 tons of new gold is produced annually. While new gold discoveries have seemingly slowed, investigative studies also show that in some areas, gold is being smuggled into the economy by the ton, and often never accounted for as far as per annum issuance estimates. Recently, reports show a whole mountain of gold was discovered in the Congo, as the Democratic Republic of the Congo is well known for being a region that sees tons of smuggled gold filtered into the global financial system unreported. Surprise Gold Deposits Continue to Crack the Precious Metal’s Scarcity Proposition It has always been said that the precious metal gold (Au) is scarce, and some reports even say that gold mining on earth will end by the year 2050 . Additionally, estimates also show that there’s roughly 2,500 to 3,000 tons of new gold that is accounted for and enters into the fin...
Post a Comment
Read more