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XRP Has Potential To Soar Past $3 By 2025 If Ripple Labs Wins The Case Against The SEC: Finder’s Experts

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XRP Has Potential To Soar Past $3 By 2025 If Ripple Labs Wins The Case Against The SEC: Finder’s Experts
  • 55 seasoned crypto analysts and experts believe that XRP could soon break past $3.81 per unit by the end of 2025. 
  • 27% of Finder.com’s panellists stated that it’s time to buy XRP, while 38% are in favour of holding XRP and 36% said thats it’s time to sell.

XRP price predictions are raging in the current crypto market considering the rapid developments happening in the Ripple vs SEC case.

In this wake, a product comparison portal, Finders.com, has come up with a new price prediction for XRP, asserting that the crypto can easily surpass $3.81 per unit by the end of 2025 if Ripple Labs wins the case against the US Securities and Exchange Commission.

Can XRP Soar Past $3.81 By The End Of 2025? 

Finders.com’s expert panel of 55 crypto experts and professionals has predicted a new price forecast for XRP. The panel asserts that Ripple Labs’ victory against the US SEC can bolster XRP’s price to a whole new level, helping it soar past $3.81 per unit by the end of 2025.

“The crypto market loves to jump on a bandwagon and XRP’s winning its case in a bear market could likely see herd mentality, which will pump the price of this old-school top-10 coin.” As stated by panellist Craig Cobb of Tradercobb.com

Finder’s panellists further predicted XRP could be worth $0.25 if Ripple Labs loses the case. A survey conducted for the same purpose found that 48% of users believe that XRP could drop $0.50 if Ripple Labs loses its case against the SEC.

“XRP has proven to still have more than enough supporters—the coin has responded well to market-wide price actions and all recent bull runs,” adding that the “coin has shown that it can still thrive despite all the bad press.” As stated by panellist Sathwik Vishwanath, CEO of Unocoin Technologies 

Dion Guillaume, the global head of PR and communication at Gate.io, is much more optimistic about the XRP’s future price. Guillaume claims that XRP could be worth $2 by the end of 2022 if Ripple Labs can win the case against the SEC this year. Guillaume later opined how XRP could also drop to $0.75 if Ripple Labs loses the case against the US SEC.

“If they get the green light, Ripple’s XRP may get listed on all the exchanges that had previously delisted it,” Guillaume later shared. “Plus, Ripple will build back valuable partnerships like Moneygram, which will do wonders for its valuation,” he added.

When asked whether the panellists would be interested in selling, buying, or holding XRP following the recent lawsuit developments, 27% of the panellists said that it’s time to buy XRP, while 38% and 36% of the panellists stated that they would rather sell and hold XRP, respectively, instead of buying it at the moment.

“Just 27% of our panellists say it’s time to buy XRP, while 38% are in favour of holding and 36% say it’s time to sell.” Finder’s survey later adds

Lastly, the survey also asked its panellists whether they think that Ripple Labs will move to a different jurisdiction if the firm loses its case against the SEC. In response to this, 43% of panellists asserted that Ripple could move to another jurisdiction if they lost the case, while 26% stated that Ripple will remain as it is.

“Ripple CEO Brad Garlinghouse claims they’re willing to move to a different jurisdiction should the company lose the SEC lawsuit. We asked our panellists whether they believed it would come to this. 43% believe Ripple would move to a different jurisdiction, while 26% believe Ripple will remain as it is. ” The survey later added

Ripple Labs vs SEC has become one of the most controversial lawsuits in crypto history. Filed in December 2020, the SEC-Ripple Labs case drew intense attention when the US Securities and Exchange Commission accused Ripple Labs of trading $1.3 billion worth of XRP as a security without first registering it with the SEC. Later on, Ripple Labs went forward to issue multiple clarifications by refuting the SEC’s claims that asserted that XRP is a security and not a crypto token. 

With 2022 almost coming to an end, investors and crypto critics are also anticipating the end of a two-year legal battle between Ripple and the SEC, which is expected to close by the first half of 2023.

Ripple CEO Brad Garlinghouse expects an “answer” in the SEC’s suit against his crypto payments company by the first half of next year https://t.co/kw4taxUngj

— Bloomberg Crypto (@crypto) October 12, 2022

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Elon Musk Says Sam Bankman-Fried Probably Donated Over $1B To Support Democratic Elections

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Elon Musk Says Sam Bankman-Fried Probably Donated Over $1B To Support Democratic Elections
  • Elon Musk hints on his official Twitter account that SBF may have donated more than $1B to the Democratic elections.
  • SBF the ex-CEO of FTX confirmed that he has made undisclosed donations to the republican party, and donated the same amount to both parties.
  • Republican Senator Ted Cruz also called FTX “a Bernie Maddof style fraud that cost investors Billions”.

Sam Bankman-Fried, the ex-CEO of now-bankrupt exchange FTX and FTX.US, is said to have donated “dark money” to the democratic party. Elon Musk took to Twitter to say that he believes the undisclosed number of democratic party donations probably reached over $1B, whereas only $40M were disclosed.

That’s just the publicly disclosed number. His actual support of Dem elections is probably over $1B. The money went somewhere, so where did it go?

— Elon Musk (@elonmusk) December 3, 2022

In a recent interview with crypto journalist Tiffany Fung, SBF stated that he donated to both parties equally.”I donated to both parties. I donated about the same amount to both parties,” Bankman-Fried tells Tiffany Fung on a phone interview.

“All my Republican donations were dark,” he said, referring to political donations that are not publicly disclosed. “The reason was not for regulatory reasons; it’s because reporters freak the fuck out if you donate to Republicans. They’re all super liberal, and I didn’t want to have that fight.”

As SBF admits that some of the donations were not publicly disclosed, it seems likely that more non-publicly disclosed donations to the democratic party.

Undisclosed donations have been made possible by the supreme court’s decision in the Citizen United case, which allows donors to donate anonymously. Since this decision, more than $1bn have poured into federal elections since 2010.

Elon Musk is very vocal on Twitter regarding the SBF case and the FTX bankruptcy scandal. On 13th of November Musk tweeted to hint that SBF is a major donor on the democratic party therefore he believes there will be no investigation by the SEC towards the exchange.

Republican Senator Ted Cruz also called FTX “a Bernie Maddof style fraud that cost investors Billions”.

On December 1st Senate held a hearing to discuss and urge lawmakers to act quicky in installing a regulatory framework for digital assets.The hearing was hosted by the Senate Agriculture Comittee and did not include the main person at the center of this scandal, CEO Sam-Bankman Fried. The person invited to testify was Rostin Banham, the Chairman of Commodity Futures Trading Commission (CFTC), agency that regulates the derivate markets. Benham called on immediate oversight of most crypto markets and “comprehensive market regulation.”

Benham’s testimony is controversial as he had a very close working relationship with Bankman-Fried over the last year. The Bill advocated in the hearing was the same one that Bankman-Fried encouraged himself earlier this year which has been questionable.

Denis Keheller, the president of advocacy group Better Markets argued over the influence SBG would have had on the CFTC. It is unclear how much access influence Sam-Bankman Fried may have bought at the agency.

“When something like this happens, typically you have an overreaction of elected officials of the need to crack down on the industry,” he says. “Instead, this hearing is to push a bill that was endorsed and pushed by FTX.”

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FTX’s Sam Bankman-Fried Knew More About Alameda Research Finances Than Let On: Forbes Report

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FTX’s Sam Bankman-Fried Knew More About Alameda Research Finances Than Let On: Forbes Report
  • A report by Forbes reveals that Sam Bankman-Fried knew about Alameda Research’s financial dealings.
  • SBF previously denied being “deeply aware” of Alameda’s finances. 
  • The former FTX chief regularly shared documents related to Alameda with Forbes over the past 2 years. 
  • The report indicates that SBF was well aware of Alameda’s business activities. 

An exclusive report published by Forbes has shed light on information that is in contradiction with recent claims made by Sam Bankman-Fried, the man behind the bankrupt crypto exchange FTX. 

Sam Bankman-Fried was aware of Alameda’s finances

In an interview at the DealBook Summit, SBF claimed that he was surprised by how big Alameda’s position was, referring to the risky trades made by his quantitative trading firm. The disgraced CEO tried to avoid accountability for Alameda’s actions by claiming that he was not involved in its day-to-day operations. “Alameda’s finances I was not deeply aware of. I was only surface-level aware of Alameda’s finances” he claimed. 

However, the report by Forbes provides an insight into the discussions they had with SBF in order to calculate his net worth for their annual World’s Billionaires list. During these discussions, Bankman-Fried shared several details that indicated that he was in fact well aware of Alameda Research’s finances. 

In order to prove his net worth, SBF detailed some of Alameda’s major holdings and several transactions involving Solana and Serum tokens as well as the notorious FTT. Some of these details were shared as recently as August 2022. The level of information found in the documents shared by Sam Bankman-Fried suggested that he knew more about Alameda than he revealed during his controversial interview. The former FTX CEO included details about his quant trading firm’s funds along with its token holdings, which at the time included 53 million SOL, 176 million FTT, and more than 3 billion SRM. According to this, the value of his share of Alameda’s funds under management was $8.6 billion. 

FTX's Sam Bankman-Fried Knew More About Alameda Research Finances Than Let On: Forbes Report 11

While it is still unclear as to how involved Sam Bankman-Fried was in the day-to-day operations at Alameda Research, the detailed description of the trading firm’s finances shared by him suggests that he knew more than he let on. 

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Mike Novogratz’s Galaxy Digital might buy crypto custodian GK8 from Celsius

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Mike Novogratz’s Galaxy Digital might buy crypto custodian GK8 from Celsius

Summary:

  • Galaxy Digital won a bid to buy one of Celsius’s assets as part of bankruptcy proceedings for the crypto lender.
  • Mike Novogratz’s company will buy GK8, a custodial business that Celsius acquired over a year ago in November 2021.
  • The custodian plans to launch crypto trading and lending for institutional investors.

Galaxy Digital submitted a successful bid for GK8, a crypto custodial service listed as an asset by Celsius during the lender’s bankruptcy proceedings. Both entity did not disclose the acquisition sum at press time. 

GK8 was acquired by Celsius in November 2021 when the bull run was near its peak. Months after, the lender was crippled by slumped crypto prices and Terra exposure. Celsius paused withdrawals shortly after LUNA and UST imploded in May, before declaring bankruptcy in July,

CEO Mike Novogratz said in a statement that adding GK8 to Galaxy Digital’s businesses offers a key ingredient for growth. Novogratz also addressed concerns regarding possible conflict of interest from the deal, ensuring that “clients will have the option to store their digital assets at or separate from Galaxy”.

Adding GK8 to our prime offering at this pivotal moment for our industry also highlights our continued willingness to take advantage of strategic opportunities to grow Galaxy in a sustainable manner.

Galaxy will also expand its workforce by some 40 employees as part of the deal. The firm hopes to onboard blockchain developers and cryptographers to name a few.

Galaxy Digital scoops Celsius asset after $76.8 million FTX exposure 

The digital asset firm reported losses in Q3 earnings after weathering contagion from Terra’s $40 billion crash. Galaxy’s earning report also revealed exposure to the bankrupt crypto exchange FTX. 

EWN reported that Novogratz’s firm tried to withdraw $47.5 million of the total sum from FTX before Sam Bankman-Fried’s exchange froze withdrawals.  The company

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