Former Ripple director hints at “big” developments, sparking mixed reactions among XRP enthusiasts. The anticipation comes amidst Ripple’s legal maneuvering, seeking an extension in disclosing financial records following a pivotal court ruling favoring the SEC.
What’s the buzz about?
In a tweet, Sean McBride teased, “Big news coming from Ripple and XRP in the next couple of days,” stirring excitement within the community. However, skepticism lingers due to past disappointments from major companies promising to integrate Ripple’s technology as a “pilot program” and failing to do so.
Western Union’s failed experiments with Ripple’s technology and MoneyGram’s discontinued partnership with Ripple after SEC charges are key factors in the disappointment despite McBride’s assurance of “big news” in Ripple.
Ripple in the Headlines
Meanwhile, Ripple’s legal battle with the SEC has taken a new turn, with the company filing for a one-week extension to disclose financial information as mandated by the SEC. Ripple has requested an extension of the deadline from 12th February 2024 to 20th February 2024, following Judge Netburn upholding the SEC’s demand for access to Ripple’s financial records.
Ripple’s request aims to accommodate the gathering and production of a significant volume of documents demanded by the SEC. Notably, the SEC has consented to Ripple’s request.
Adding complexity to Ripple’s predicament, a recent hacking incident involving the disappearance of over 200 million XRP tokens from a co-founder’s wallet has raised concerns about security vulnerabilities in the cryptocurrency market.
The ongoing legal battle between the SEC and Ripple sparks debates over the classification of XRP as a security.
Stay tuned with Coinpedia as the “big news” unfolds, shaping the future of Ripple, XRP, and the broader cryptocurrency ecosystem.
