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🌐What happens to XRP if Ripple wins case against the SEC?🌐
January 05, 2023
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Investors inĀ XRPĀ are interested in knowing what the future holds for theĀ cryptocurrencyĀ now ranked sixth by market capitalization, with the ongoing legal dispute betweenĀ RippleĀ and the Securities and Exchange Commission (SEC), one of the most important aspects that might have a significant effect on its success.

The SEC initiated legal action against Ripple Labs based on allegations that the company had offered unregistered securities in the form ofĀ XRP tokens. The lawsuit has continued for three years, with both parties submitting final filings and waiting for a decision.

In this line, Finbold asked industry professionals about whether Ripple could win the lawsuit against the SEC, and what it would mean for the price of XRP if it was successful.

David Reischer, Attorney and CEO of Legal AdviceĀ 

David Reischer told Finbold that other nations’ regulators have ruled that crypto cannot be regarded as a security if there is no issuer. For this same reason, he noted:

ā€œRipple will likely prevail against the SEC claim Ripple must register its tokens like a security. Ripple has long held that investors have no ā€œinvestment contractā€ that offers anybody any rights.ā€

Reischer notes a favorable conclusion would be ā€œbeneficial to the entire crypto industryā€ because it is necessary to offer clarity and confidence for the entire industry. It is essential for the whole of the industry to have a thorough understanding of any duties, and regulatory expectations set out by the SEC, the U.S. Commodity Futures Trading Commission (CFTC), and any other financial compliance agencies.

Andrew Pickett, lead Trial Attorney at Andrew Pickett LawĀ 

According to the attorney based in Florida, the result of the lawsuit between Ripple and the SEC is being eagerly awaited across the sector, with Pickett highlighting that:Ā 

ā€œIf Ripple is successful in their lawsuit, it could help solidify XRP’s legality in the US market, which would benefit its price.ā€Ā 

Elsewhere, he views the outcome as a fundamental setting, ā€˜an important precedent applicable to otherĀ cryptocurrencies, such asĀ Bitcoin,’ especially by leading financial institutions.Ā 

ā€œThis could open up the cryptocurrency industry to more mainstream investors and businesses that would have previously been cautious about entering the market due to legal uncertainty.ā€

Final rulingĀ 

Notably, if the regulator is successful in this case, it might have very negative repercussions for XRP, its investors, and the cryptocurrency sector as a whole. In particular, the regulatory body has the authority to levy a fine on Ripple Labs and demand that the business register XRP as a security.Ā 

As a consequence, a judgment of this kind would certainly result in XRP being treated in the same manner as conventional securities, which may restrict both its adoption and usage.Ā 

On the other hand, if Ripple is able to defend itself against the arguments presented by the SEC effectively, it may be considered a significant triumph for the firm as well as a favorable sentiment for XRP. Despite the fact that Ripple had some success during the hearings, the final result of the lawsuit is still unknown, which is very important to keep in mind.

By press time, XRP was trading at $0.34, recording daily losses of about 2.7%, with the asset having a total market worth of $17.1 billion.

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The Great Onboarding: US Government Anchors Global Economy into Web3 via Pyth Network

For years, the crypto world speculated that the next major cycle would be driven by institutional adoption, with Wall Street finally legitimizing Bitcoin through vehicles like ETFs. While that prediction has indeed materialized, a recent development signifies a far more profound integration of Web3 into the global economic fabric, moving beyond mere financial products to the very infrastructure of data itself. The U.S. government has taken a monumental step, cementing Web3's role as a foundational layer for modern data distribution. This door, once opened, is poised to remain so indefinitely.

The U.S. Department of Commerce has officially partnered with leading blockchain oracle providers, Pyth Network and Chainlink, to distribute critical official economic data directly on-chain. This initiative marks a historic shift, bringing immutable, transparent, and auditable data from the federal government itself onto decentralized networks. This is not just a technological upgrade; it's a strategic move to enhance data accuracy, transparency, and accessibility for a global audience.

Specifically, Pyth Network has been selected to publish Gross Domestic Product (GDP) data, starting with quarterly releases going back five years, with plans to expand to a broader range of economic datasets. Chainlink, the other key partner, will provide data feeds from the Bureau of Economic Analysis (BEA), including Real Gross Domestic Product (GDP) and the Personal Consumption Expenditures (PCE) Price Index. This crucial economic information will be made available across a multitude of blockchain networks, including major ecosystems like Ethereum, Avalanche, Base, Bitcoin, Solana, Tron, Stellar, Arbitrum One, Polygon PoS, and Optimism.

This development is closer to science fiction than traditional finance. The same oracle network, Pyth, that secures data for over 350 decentralized applications (dApps) across more than 50 blockchains, processing over $2.5 trillion in total trading volume through its oracles, is now the system of record for the United States' core economic indicators. Pyth's extensive infrastructure, spanning over 107 blockchains and supporting more than 600 applications, positions it as a trusted source for on-chain data. This is not about speculative assets; it's about leveraging proven, robust technology for critical public services.

The significance of this collaboration cannot be overstated. By bringing official statistics on-chain, the U.S. government is embracing cryptographic verifiability and immutable publication, setting a new precedent for how governments interact with decentralized technology. This initiative aligns with broader transparency goals and is supported by Secretary of Commerce Howard Lutnick, positioning the U.S. as a world leader in finance and blockchain innovation. The decision by a federal entity to trust decentralized oracles with sensitive economic data underscores the growing institutional confidence in these networks.

This is the cycle of the great onboarding. The distinction between "Web2" and "Web3" is rapidly becoming obsolete. When government data, institutional flows, and grassroots builders all operate on the same decentralized rails, we are simply talking about the internet—a new iteration, yes, but the internet nonetheless: an immutable internet where data is not only published but also verified and distributed in real-time.

Pyth Network stands as tangible proof that this technology serves a vital purpose. It demonstrates that the industry has moved beyond abstract "crypto tech" to offering solutions that address real-world needs and are now actively sought after and understood by traditional entities. Most importantly, it proves that Web3 is no longer seeking permission; it has received the highest validation a system can receive—the trust of governments and markets alike.

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US Dept of Commerce to publish GDP data on blockchain

On Tuesday during a televised White House cabinet meeting, Commerce Secretary Howard Lutnick announced the intention to publish GDP statistics on blockchains. Today Chainlink and Pyth said they were selected as the decentralized oracles to distribute the data.

Lutnick said, ā€œThe Department of Commerce is going to start issuing its statistics on the blockchain because you are the crypto President. And we are going to put out GDP on the blockchain, so people can use the blockchain for data distribution. And then we’re going to make that available to the entire government. So, all of you can do it. We’re just ironing out all the details.ā€

The data includes Real GDP and the PCE Price Index,Ā which reflects changes in the prices of domestic consumer goods and services. The statistics are released monthly and quarterly. The biggest initial use will likely be by on-chain prediction markets. But as more data comes online, such as broader inflation data or interest rates from the Federal Reserve, it could be used to automate various financial instruments. Apart from using the data in smart contracts, sources of tamperproof data šŸ‘‰will become increasingly important for generative AI.

While it would be possible to procure the data from third parties, it is always ideal to get it from the source to ensure its accuracy. Getting data directly from government sources makes it tamperproof, provided the original data feed has not been manipulated before it reaches the oracle.

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1) Simply scan the QR code below šŸ“²
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šŸ”— Crypto
XRP: r9pid4yrQgs6XSFWhMZ8NkxW3gkydWNyQX
XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
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