The cryptocurrency community has been rocked by the recent lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Ripple Labs, the company behind the popular digital asset XRP. The SEC alleges that Ripple and its executives sold unregistered securities in the form of XRP tokens, violating federal laws and harming investors.
The lawsuit has caused many crypto exchanges and platforms to suspend or delist XRP trading, fearing legal repercussions and regulatory uncertainty. However, one platform has stood out for its unwavering support of XRP and its holders: Uphold.
Uphold is a global digital money platform that allows users to buy, sell, hold, and send over 50 cryptocurrencies and traditional currencies. Uphold has announced that it will continue to support XRP trading until the SEC’s complaint is resolved in court, or unless there is a change in the XRP’s status.
If so shouldn’t you refund the money given for the card.
— XRP Golem Sniper (@andrele_king) April 5, 2023
Uphold’s decision has been applauded by many XRP enthusiasts, who see it as a sign of confidence and loyalty. Uphold’s CEO, JP Thieriot, explained that Uphold is committed to defending the interests of its customers and upholding the principles of innovation and fairness.
“We trust that other exchanges will adopt a similar stance rather than rushing to judgment ahead of the court’s decision,” Thieriot said in a blog post.
Uphold’s stance has also been praised by Ripple itself, which thanked the platform for its support and courage. Ripple’s CEO, Brad Garlinghouse, tweeted that Uphold is “serving customers, not FUD.”
Thank you $XRP community for all of the love! pic.twitter.com/XUoJ5D528d
— Uphold (@UpholdInc) April 5, 2023
FUD stands for fear, uncertainty, and doubt, which critics and competitors often spread to undermine confidence in a project or asset. Ripple has repeatedly denied the SEC’s allegations and vowed to fight them in court. Ripple claims that XRP is not a security, but a decentralized digital currency that is used for cross-border payments and remittances.
XRP is currently the fourth-largest cryptocurrency by market capitalization, with over $21 billion worth of tokens in circulation. XRP holders, or HODLers, are optimistic that the legal dispute will be resolved in favor of Ripple and that XRP will continue to thrive as a global payment solution.
To learn more about Uphold and its support for XRP, visit their official website .
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