Ripple effect! XRP surges after U.S. judge rules it is not a security in… some instances

XRP Ripple

SEC Ruling – July 2023

XRP, the native token of the blockchain company Ripple, soared more than 60% on Thursday after a U.S. judge delivered a major victory to the firm in its legal battle with the Securities and Exchange Commission (SEC).

The SEC had sued Ripple in December 2020, alleging that it had raised over $1.3 billion through the sale of XRP in an unregistered securities offering. The SEC claimed that XRP was an investment contract that gave buyers the expectation of profits based on Ripple’s efforts.

However, the Judge ruled that XRP was not a security “on its face” and that some aspects of its sale did not violate the federal securities laws.

Crypto
Digital coin

The judge drew a distinction between the sales of XRP to institutional investors, which she said could constitute investment contracts, and the sales of XRP to the general public on exchanges, which did not.

Argument

The judge also denied Ripple’s argument that the SEC lacked jurisdiction over XRP transactions because they were not domestic, and agreed with the SEC that the Howey test, a four-pronged criteria to determine whether an asset is a security, applied to cryptocurrency transactions.

The ruling was welcomed by Ripple and its supporters, who argued that XRP was a utility token that facilitated cross-border payments and did not depend on Ripple’s efforts for its value.

Ripple’s chief legal officer, reportedly tweeted: “A huge win today – as a matter of law – XRP is not a security. Also, a matter of law – sales on exchanges are not securities. Sales by executives are not securities. Other XRP distributions – to developers, charities, and employees- are not securities.”

A lawyer representing over 19,000 XRP holders who intervened in the case, reportedly called on U.S. exchanges to relist XRP in solidarity with the decision.

Crypyo boost

The ruling also boosted the sentiment in the broader crypto market, as it suggested that the SEC did not have unlimited authority over digital assets and that some tokens could escape the securities classification.

Cryptocurrency
‘Have you seen the news? Crypto might possibly could be going manstream.’ ‘Oh WOW! – What’s crypto?’

Crypto-related stocks such as Coinbase and crypto-coins such as ADA, HBAR, BITCOIN & ETH surged following the news.

More to come?

However, the case is not quite over yet, as the SEC said it would continue to review the decision and pursue its claims against Ripple for the sales of XRP to institutional investors.

The SEC also responded to the judge’s ruling by saying that it did not change its position that XRP was a security and that it would seek to prove that Ripple violated the securities laws in certain circumstances.

The outcome of the case could have significant implications for the crypto industry, as it could set a precedent for how other tokens are regulated and how other lawsuits are resolved.

World Population, 8 Billion and Counting…

There are eight billion people living on Earth today, according to the United Nations (UN).

It’s hard to calculate the number of people in the world accurately, and the UN admits its calculations could be out by a year or two – but it estimated that in November 2022 the eight billion line was crossed.

It is only 11 years since the population hit seven billion, and experts say this huge growth is because of many reasons including better health, nutrition and medicine.

One billion in 1800

The world reached one billion people in around 1800, then it took about another 100 years to get to the second billion – but since the 1950s the popultion growth has sped up dramatically.

Countries in Asia, including India, were responsible for a large amount of population growth over the last ten years.

The increase in population shows more children are being born, surviving adulthood and having children of their own.

People are also living longer because of better medicine and nutrition.

Greater population in India than China

If you saw a picture of every person on the planet every second, it would take 253 years.

Middle-income countries, mostly in Asia, accounted for most of the growth over the past decade, with 700 million more people since 2011.

India has increased by roughly 180 million people, and is set to surpass China as the world’s most populous nation next year for the first time in almost 2,000 years.

Birth rates in China have decreased since 1980 when the country’s one-child policy was introduced, and more women have also been having children later in life to focus on their education and career opportunities.

Sub-Saharan Africa population to grow the fastest in coming years

When it comes comes to which countries are likely to grow more in the future, the UN says that most of the 2.4 billion people to be added before the global population peaks are likely to be born in sub-Saharan Africa. This includes countries like Angola, Botswana, Cameroon and the Central African Republic.

But experts say that the rate of rapid growth is starting to slow down, meaning it will take about 15 years for the population to reach nine billion – which wouldn’t be until the year 2037.

One of the main reasons for this is that people in many parts of the world are having less children. In the 1960s five births per woman was the global average, now it’s nearly half at 2.4 per woman.

The UN is predicting that the global population will rise to around 10.4 billion people in the 2080s and remain at that level until 2100.

Does it matter?

The population growing is seen as a success by the UN because it shows how much public health, nutrition, personal hygiene and medicine has improved – but it can also present challenges.

Population pressure

Having more people on Earth puts more pressure on nature, with people in competition with wildlife for water, food and space, as well as with each other. Also, growing food as fuel creates immense infrastructure pressure.

This could lead to mass migration and conflict in coming decades, experts say, particularly as extreme climate change could make parts of Africa and countries so hot they could be unsuitable for people to live in.

More people means there are less resources to go around, and so governments will also need to think about how the way people and countries use what the world currently has and how this can this should be used.

This also includes how we are using energy and the impact on climate change if big countries with growing populations continue to use fossil fuels.

Although having more people on the planet will impact the environment, in fact it is the increase in producing and using materials which creates dramatic pollution increases that causes more of an impact to our immediate environment.

The UN Secretary General António Guterres said: ‘…it is a reminder of our shared responsibility to care for our planet and a moment to reflect on where we still fall short of our commitments to one another.’

The day the blue bird flew away – Twitter re-brands as X

Fly Away Blue Bird

Twitter rebrands as X and kills off blue bird logo

Twitter, the social media platform, has undergone a major rebranding, changing its name to X and replacing its iconic blue bird logo with a simple black-and-white X. The move was announced by the company’s owner, Elon Musk, who reportedly said he wanted to create a “super app” that would transform the global ‘town square’.

New Logo

Musk and Twitter’s chief executive, Linda Yaccarino, posted pictures of the new logo projected on the side of Twitter’s headquarters in San Francisco, California. They also changed profile pictures and bios to reflect the new brand identity. The desktop version of the app has already switched to the new logo, while the mobile version is expected to follow soon.

My last tweet says the BLUE bird
My last tweet – says the BLUE bird

Musk is reported to have said he was looking to change Twitter’s logo because he wanted to “embody the imperfections in us all that make us unique”. He also said he had a personal affinity for the letter X, which he also used for his other ventures, such as SpaceX and X.com. Yaccarino said the rebrand was an exciting new opportunity to make a fresh “big impression” and go further than Twitter.

Rebranding

The rebranding of Twitter marks the biggest change to the platform since Musk began his tumultuous tenure. Among the changes have been sacking thousands of staff, locking verification checkmarks behind a paywall, reinstating banned accounts like those of Andrew Tate and Donald Trump, and applying reading limits.

The reaction from users and marketers has been mixed, with some praising the bold move and others criticising it as unnecessary and confusing. Some have also questioned whether the new logo infringes on the trademarks of other companies that use similar designs, such as Tesla and Xbox.

The company has not yet revealed whether other aspects of the platform, such as tweets, hashtags, and handles, will also be changed to match the new brand name.