Ripple’s Legal Battle Intensifies as SEC Appeals Ruling Amid XRP Price Drop

Simply Crypto

The SEC's appeal against Ripple Labs' recent legal victory has sent XRP's price tumbling over 10%. Ripple executives criticize the SEC's actions as damaging to its credibility. Meanwhile, Kalshi resumes election betting contracts, posing competition to crypto-based platforms like Polymarket. In Australia, the Federal Police seize $6.4 million in cryptocurrency linked to organized crime in Operation Kraken. Lastly, Bitcoin struggles to maintain its $60,000 level amid rising geopolitical tensions. Join us as we unpack these critical developments in the cryptocurrency landscape.
Sources:
https://www.benzinga.com/markets/cryptocurrency/24/10/41157465/gary-genslers-sec-appeals-2023-ruling-against-ripple-labs-xrp-tanks-10-just-prolongs-compl
https://www.benzinga.com/markets/cryptocurrency/24/10/41158370/wanna-put-your-money-on-trump-or-harris-crypto-based-polymarket-gets-competition-after-kal
https://finance.yahoo.com/news/australian-federal-police-seizes-6-140938841.html
https://www.cnbc.com/2024/10/01/crypto-market-today.html
Outline:
(00:00:00) Introduction
(00:00:44) Gary Gensler's SEC Appeals 2023 Ruling Against Ripple Labs — XRP Tanks 10%: Just Prolongs 'Complete Embarassment' For Agency Says Company Exec
(00:03:36) Wanna Put Your Money On Trump Or Harris? Crypto-Based Polymarket Gets Competition After Kalshi Prevails In Court And Resumes Election Betting Contracts
(00:06:07) Australian Federal Police Seizes $6.4 Million in Cryptocurrency in Operation Kraken
(00:09:26) Bitcoin tumbles back to the $60,000 level as tensions in the Middle East heighten