Simply Modish Series represent the global trend and your personality styling for those who value simplicity and minimalism. In response to the lawsuit, Ripple has mounted an unusually aggressive defense, and accused the SEC of hypocrisy for declaring that Ethereum's currency is not a security while XRP is. SERIES: TETRAGON: WIDTH: 550 MILLIMETER: HEIGHT: 195 MILLIMETER: LENGTH: 475 MILLIMETER: WEIGHT: 14 KILOGRAM: BARCODE: 8852425447364: Add to wishlist. The SEC repeated that claim in its lawsuit and, in response to agency's actions, the price of XRP tumbled and several exchanges stopped offering the currency to customers.
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Skeptics, however, claim the software business is peripheral and point out that the bulk of Ripple's revenue continues to come from XRP sales. In recent years, the company has tried repeatedly to brand XRP as a "bridge currency" to facilitate international transactions, providing software to banks and money markets to facilitate this. Founded in 2011, Ripple is best known for owning the majority of the cryptocurrency XRP, which it has been selling for years to fund its operations. Tuesday's news may help persuade Ripple skeptics who have long doubted whether the company had a viable business. Ripple also cited 2021 as its most successful year ever, saying the volume of its payment business has doubled and that its "on demand liquidity" business has expanded to 22 markets from the three markets it served in 2020.
The investors who sold their shares back to Ripple include Series C lead investor Tetragon Financial group, which sued Ripple in early 2020 in an unsuccessful attempt to back out of its investment following the SEC suit. The spokesperson cited "our extremely strong position in the market," and noted that "Ripple is cash flow positive, has $1B in the bank and a strong balance sheet." According to a Ripple spokesperson, the company bought out the investors with cash it had on hand.
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