Judge Analisa Torres set remedies discovery and briefing schedule in the SEC vs Ripple, attorney claims XRP lawsuit's final judgment in July.

During a fireside chat at the Ripple Swell 2023 event, Ripple CEO Brad Garlinghouse said he is actively discouraging those who call themselves "extremists" because the future of the cryptocurrency industry will be a multi-chain world.

On November 12th, it was reported that the "fixReducedOffersV1" amendment for XRPL is currently in a two-week activation countdown phase and has received approval from over 80% of validators. This modification marks a major upgrade for XRPL. Additional features will be introduced in the coming weeks. According to XRPScan, users who rely on V1.11.0 or earlier versions are advised to update their systems. Deploying fixReducedOffersV1, which addresses critical issues with DEX products, requires over 80% of updates to be implemented within 14 days.

Ripple CEO Brad Garlinghouse said that the SEC's actions against the cryptocurrency industry have failed to protect investors and that its regulatory strategy needs to be reassessed. The industry needs a new customized regulatory framework that takes into account the subtle differences of digital assets.

Whale Alert monitored that at 00:42:10 Beijing time today, 425,807,780 XRP (worth $288,496,378) were transferred from an unknown wallet to a new wallet.

On November 11th, XRP lawyer John Deaton believes that the fine Ripple will pay will be much lower than $770 million. Deaton emphasizes that the Supreme Court ruled that forfeiture is not punitive and cannot exceed the "net profits" of sales. Companies can deduct legitimate business expenses. The legal lawsuit against Ripple is not centered on fraud, but constitutes regulatory disagreement. This distinction is crucial because attention has shifted from punitive measures to regulatory compliance.

Ripple CEO Brad Garlinghouse said at the Ripple Swell event held in Dubai that in my opinion, the US Securities and Exchange Commission (SEC) has ignored its mission to protect investors. Garlinghouse hopes that the United States can go beyond the situation where cryptocurrency regulation is determined by litigation and transition to federal laws governing digital currencies formulated by Congress.

According to blockchain data tracking service Whale Alert, a wallet address starting with "rnomGK" transferred 39,523,129 XRP to cryptocurrency exchange Coinbase at around 14:53 Beijing time on November 11, with a value of approximately $25,853,836.

Ripple CEO Brad Garlinghouse commented on the SEC's lawsuit, stating that Ripple has spent over $150 million in legal fees. If the SEC's lawsuit ultimately appeals to the Supreme Court, Ripple will also fight to the end with the SEC.<br>In addition, Garlinghouse believes that the SEC's stance on cryptocurrency is the main obstacle to the development of the industry. Although the United States continues to express hostility towards cryptocurrencies, other countries including Japan, Switzerland, Australia, and the United Kingdom have established clear regulatory frameworks to help the industry flourish. Despite this, Garlinghouse believes that the United States still has the potential to become a global leader in the cryptocurrency field.

Ripple has teamed up with UK-based fintech company Onafriq to expand remittance corridors across Africa, the UK, Australia, and the Gulf States. The partnership will use Ripple's private network, Ripple Payments, to offer a faster and more cost-effective alternative to traditional remittance processes. The move is aimed at reducing high fees and slow transaction times for remittance senders, particularly the African diaspora. The partnership highlights the growing acceptance of blockchain technology in financial services and comes at a time when Africa is witnessing a surge in mobile money platforms and fintech innovation.

HSBC has partnered with tech firm Metaco, owned by Ripple, to launch an institutional custody platform for tokenized securities. The bank aims to launch the service in 2024, in conjunction with its existing digital asset issuance platform, HSBC Orion, and its gold tokenization solution. The move was driven by increasing demand for custody and fund administration of digital assets from asset managers and owners. Metaco's Harmonize platform will be used to enable secure and unified operations of digital assets.

Ripple has partnered with African payment fintech company Onafriq to expand its remittance capabilities in Africa and its borders with Gulf countries, the UK, and Australia. Additionally, at Ripple's annual conference Swell, Ripple announced product enhancements and license updates, including a focus on payments between enterprises and small businesses.

Ripple has announced a partnership with Kuwait Finance House, the first Islamic law bank in Kuwait, to launch real-time cross-border payment services. Previously, the Dubai Financial Services Authority (DFSA) approved the use of XRP within the Dubai International Financial Center (DIFC). (Cryptopotato)

According to market data, XRP has broken through 0.7 USDT and is currently trading at 0.7024 USDT, with a 24-hour increase of 8.83%.

Deaton strongly refuted the idea that the lawsuit’s result was an even 50/50 outcome for the SEC, claiming that it’s closer to a 90/10 advantage in favor of Ripple.

John E. Deaton, a prominent cryptocurrency attorney, believes that a settlement of $20 million or less in the Ripple Labs XRP lawsuit against the SEC would be a significant legal victory for the company. Deaton refuted the idea that the lawsuit's outcome was a 50-50 result for the SEC, stating that it leaned closer to a 90-10 advantage in favor of Ripple. This viewpoint is shared by the cryptocurrency community, which sees the suggested settlement as a positive resolution considering the potential consequences of the XRP lawsuit and the broader regulatory environment for digital currencies. Ripple's Chief Legal Officer, Stuart Alderoty, also highlighted another legal setback for the SEC in a recent post.

Ripple Labs has announced a collaboration with the National Bank of Georgia (NGB) to develop the country's first central bank digital currency (CBDC) pilot programme. The NGB has chosen Ripple to support its digital Lari (GEL) pilot project, which will test the practical use cases of CBDC technology and evaluate potential benefits for the public sector, businesses and retail users. Ripple's CBDC platform, launched in May, aims to demonstrate the ability to "seamlessly mint, manage, transact and redeem CBDCs" to financial institutions and governments. The NGB selected Ripple as its single technology partner after a rigorous selection process involving nine shortlisted companies.

According to CoinGape, on November 3rd, XRP lawyer John Deaton stated that SBF's father Joseph Bankman is also suspected of fraud. Deaton stated that Joseph Bankman had previously demanded a high salary from SBF. In September 2023, FTX led by John J. Ray III filed a lawsuit against SBF's parents Joseph Bankman and Barbara Fried, accusing them of millions of dollars in fraudulent transfers and misappropriation of funds.

In the context of FTX founder SBF being convicted of criminal charges, XRP lawyer John Deaton raised the issue of the founder's father's involvement in improper behavior that led to the collapse of a cryptocurrency exchange in November 2022. Deaton stated that it is well known that FTX founder's father Joseph Bankman is also facing fraud charges. When asked if his parents were involved in the case, Deaton recalled the email investigation results where Joseph Bankman sought higher salaries for his son.

The National Bank of Georgia has chosen Ripple Labs Inc as its official technology partner for its Central Bank Digital Currency (CBDC) project, Digital Lari. Ripple's CBDC platform will be used to execute and deliver the Digital Lari pilot program, which will assess potential use cases for the CBDC. Ripple was selected after a rigorous selection process that shortlisted nine companies based on technological potential, maturity, capacity, relevant experience, and desire to join the project. Ripple has previously collaborated with other entities exploring CBDC implementation, such as Colombia's Central Bank.