Finance - Finance PanAsiaBiz News

2024 Social Security Benefits: $1281 Checks Released – When Can You Expect Your Monthly Payments?

December 4, 2023 Aklimson Phangcho 0

Understanding the 3.2% Increase In a recent announcement, the Social Security Administration (SSA) disclosed a 3.2% increase in Social Security and Supplemental Security Income (SSI) […]

Golden Surge: NewEdge Wealth Predicts Unprecedented Rush in Record-Breaking Gold Fever

December 4, 2023 Shrabani Sarkar 0

The record gold rush may intensify into year-end. According to NewEdge Wealth’s Ben Emons, the year’s final month typically creates a bigger appetite for the […]

Give the Gift of Giving: Charitable Gift Annuity for Holiday Joy & Income Bliss

December 4, 2023 Shrabani Sarkar 0

This holiday, consider making a gift that keeps on giving…to you. It’s well-known that charitable contributions made before yearend can provide a tax deduction. But, […]

Global Pension Funds Retreating from China: Mike Dolan Report

December 3, 2023 Shrabani Sarkar 0

Even allowing for China’s messy cyclical ebb and flow and global political tensions of the day, the exit of long-term foreign capital from the world’s […]

2023 Cash Rush: Money Market Gains Bring Potential Tax Strain

December 3, 2023 Shrabani Sarkar 0

Experts say that if you funnel cash into money market mutual funds in 2023 amid rising interest rates, you may have a surprise tax bill […]

Farewell to a Trailblazing Legend: Investors Reflect on the Loss of Charlie Munger’s Acumen, Wisdom, and Irreverence

December 3, 2023 Aklimson Phangcho 0

Investors worldwide mourn the loss of Charlie Munger, the vice chairman of Berkshire Hathaway, as his unparalleled business acumen and sharp tongue leave an indelible […]

Social Security Administration’s December Double Payment: Unraveling the Reasons

December 3, 2023 Aklimson Phangcho 0

A Boost Amidst Inflation Throughout December 2023, recipients of Supplemental Security Income (SSI) in the United States are in for a double payment treat. The […]

Gold Fever Continues: NewEdge Wealth Predicts Record Rush to Intensify

December 3, 2023 Aklimson Phangcho 0

December’s Historical Impact on Gold Performance The final month of the year is poised to fuel the ongoing gold rush, with NewEdge Wealth’s Ben Emons […]

Pfizer Shares Drop as Obesity Drug Study Halted Due to Patient Reactions

December 2, 2023 Shrabani Sarkar 0

Pfizer (PFE) – Get Free Report shares slumped lower Friday after the drugmaker said it would not advance a study of its two-dose obesity treatment […]

Federal Reserve Chair Powell Addresses Market Expectations and Inflation Concerns

December 2, 2023 Aklimson Phangcho 0

Powell Pushes Back on Rate Cut Speculations In a recent development, Federal Reserve Chairman Jerome Powell delivered a speech pushing back against market expectations for […]

Why Individuals Receiving SSI Will Obtain Dual Payments in December

December 2, 2023 Aklimson Phangcho 0

As we approach the dawn of 2024, the Social Security Administration (SSA) has unveiled several noteworthy adjustments that will impact beneficiaries. From early payments to […]

XRP Price Explodes Over 70% as Judge Rules In Favor of Ripple in SEC Case XRP, the native cryptocurrency of the Ripple network, has surged by more than 70% in the past 24 hours, reaching its highest level since May. The price spike came after a U.S. judge denied the Securities and Exchange Commission's (SEC) request to access Ripple's legal communications. What is the SEC's lawsuit against Ripple? The SEC filed a lawsuit against Ripple and its executives in December 2020, alleging that they sold $1.3 billion worth of XRP as unregistered securities. Ripple has argued that XRP is not a security, but a digital asset that is used for cross-border payments and remittances. The company also claimed that the SEC did not provide fair notice to the market about its regulatory status. How did the judge rule in favor of Ripple? On June 30, U.S. Magistrate Judge Sarah Netburn denied the SEC's motion to compel Ripple to produce documents related to its legal advice on XRP. The judge ruled that Ripple's communications with its lawyers are protected by attorney-client privilege, and that the SEC failed to show a "substantial need" to access them. The judge also noted that the SEC's request was "overly broad" and "disproportionate". What does this mean for XRP and the crypto market? The judge's ruling is seen as a major victory for Ripple and a setback for the SEC, as it could weaken the agency's case against the company. The ruling also boosted the confidence of XRP investors, who have been waiting for a resolution of the legal dispute. XRP's price jumped from around $0.6 to over $1 in a matter of hours, making it one of the best-performing cryptocurrencies in the market. The rally also lifted other altcoins, such as Stellar, Cardano, and Dogecoin. What are the next steps in the lawsuit? The lawsuit is still ongoing, and both parties are expected to continue their discovery process until August 31. The SEC has also filed a motion to extend the deadline for fact discovery by 60 days, citing the complexity of the case and the need for more time to review documents. Ripple has opposed this motion, arguing that it would cause further harm to its business and customers. The judge has not yet ruled on this motion. Conclusion XRP's price has exploded over 70% as a U.S. judge ruled in favor of Ripple in its lawsuit with the SEC. The ruling denied the SEC's request to access Ripple's legal communications, which are protected by attorney-client privilege. The ruling is seen as a major win for Ripple and a boost for XRP investors, who have been waiting for a positive outcome of the case. The lawsuit is still ongoing, and both parties are expected to continue their discovery process until August 31.

XRP remains outside Ripple’s Liquidity Club even after 5 months? Here’s how Ripple CTO reacts

December 2, 2023 Najuk Priya 0

Ripple has expanded its Liquidity Hub program to include stablecoins USDT and USDC products, especially for institutional investors. However, it became embroiled in a slew […]

XRP Supporters Protest Binance’s XRPL Network Suspension

December 1, 2023 William Ross 0

According to a report from Bloomberg, the XRP army is rallying after Binance temporarily froze XRPL network access. The freeze was reportedly implemented in response […]

XRP Skyrockets 26% Following New York Judge’s Ruling in SEC Lawsuit

XRP Price Suppression: Expert Believes XRP Is Being Purposely Suppressed

December 1, 2023 William Ross 0

Jerry Hall, a pro-XRP crypto YouTuber, believes that the price of XRP has been suppressed for years. Hall’s belief stems from his observation of Ripple’s […]

Cristiano Ronaldo Sued for $1 Billion Over Allegedly Deceptive Binance NFT Promotion

December 1, 2023 William Ross 0

Cristiano Ronaldo has been hit with a $1 billion class-action lawsuit alleging that he misled investors into purchasing Binance NFTs. The lawsuit was filed in […]

Massive 29 million XRP transaction to Bitstamp signals price decline

Ripple and SEC To Meet to Discuss Potential Settlement in Landmark Legal Battle

December 1, 2023 William Ross 0

In a highly anticipated move, Ripple Labs and the United States Securities and Exchange Commission (SEC) are set to meet today, December 1, 2023, to […]

Landmark IRS Victory Sets Stage for Increased Hedge-Fund Manager Taxes

December 1, 2023 Shrabani Sarkar 0

The Internal Revenue Service scored a significant win over the hedge-fund and asset-management industries this week in a case that could bring higher taxes for […]

Ripple’s Metaco Acquisition: A Bullish Sign for XRP

November 30, 2023 William Ross 0

HSBC’s choice of Metaco as custody tech partner seen as a sign of things to come The news that Metaco, the Swiss digital assets custody […]

Binance Records Net Inflow of $1.2B in 24 Hours

DoJ Inquiry Puts Binance’s Thailand Expansion at Risk

November 30, 2023 William Ross 0

Binance, the world’s largest cryptocurrency exchange, is facing increased regulatory scrutiny in Thailand, casting doubt over the future of its operations in the country. The […]