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Securities and Exchange Commission (SEC) sued Ripple in 2020 and claimed its XRP token offerings were illegal sales of unregistered securities. Second, Grayscale recently relaunched its XRP Trust as a closed-end fund ( CEF ) for accreditedinvestors in response to Ripple's partial victory. To make matters worse, the U.S.
My friend Dan Malven wrote about this on his blog yesterda y: A working paper published by the National Bureau of Economic Research (NBER) in November 2020 contradicts that notion, showing that half of all VC fund managers outperform the public markets, and are therefore worthy of institutional investment.
Most of Ripple's financial customers didn't adopt XRP for their mainstream transactions, but the market's growing interest in Bitcoin (CRYPTO: BTC) and other cryptocurrencies drove a new wave of investors toward smaller so-called altcoins. But in 2020, the U.S. That's why XRP's price hit a record high in 2018.
But that never happened, and the SEC eventually sued Ripple in 2020 and claimed its XRP token offerings were illegal sales of unregistered securities. Grayscale subsequently relaunched its XRP Trust (which it had previously shut in 2021) as a closed-end fund ( CEF ) for accreditedinvestors.
And investors? Well, you would have needed to be a wealthy, accreditedinvestor to get in on the upside, and only 3% of Americans meet the criteria to do that. Charlie O'Donnell (@ceonyc) May 28, 2020. so they make up less than 10% of 10%. No current founders, pls.
In late 2020, the U.S. Meanwhile, XRP was relisted by the major crypto exchanges, Grayscale relaunched its XRP Trust as a closed-end fund ( CEF ) for accreditedinvestors , and several asset management firms have submitted applications to the SEC for permission to launch XRP exchange-traded funds (ETFs).
Securities and Exchange Commission (SEC) sued Ripple in 2020 and claimed its initial XRP token sales were illegal sales of unregistered securities. Grayscale also relaunched its XRP Trust as a new closed-end fund ( CEF ) for accreditedinvestors , and several firms registered to sponsor their own spot XRP ETFs. First, the U.S.
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