ChainCatcher news, according to Decrypt, Ripple co-founder and executive chairman Chris Larsen stated on Monday that he has donated an additional $10 million in XRP to support Vice President Harris's campaign for the presidency of the United States.The New York Times reported on Sunday that, amid a record fundraising quarter for Harris's campaign team and related organizations, Larsen donated $10 million to the prominent Democratic political action committee Future Forward. Larsen confirmed this report on Twitter, noting that the donation was made in the form of XRP.Larsen wrote, "It's time for the Democrats to take a new approach to technology innovations, including cryptocurrency," and added that he is confident Harris will "ensure that American technology dominates the world."

ChainCatcher news, according to Bloomberg, last week a federal judge ordered Ripple Labs Inc. to pay a $125 million civil penalty because the company sold its XRP tokens to institutional investors without registering with the U.S. Securities and Exchange Commission (SEC). This fine is just a small part of the $2 billion the agency is seeking, which could be good news for other crypto companies fighting the SEC.Ripple's case began in December 2020 when the SEC sued Ripple and its executives, accusing them of "creating an information vacuum." This lawsuit united the entire crypto industry in support of XRP. More than a dozen advocacy groups wrote to U.S. District Judge Analisa Torres, supporting Ripple's position. Since then, the SEC has initiated enforcement actions against several crypto companies. However, Ripple's case is seen as a potential milestone that could set a precedent regarding whether cryptocurrencies are considered securities.The judge issued an injunction prohibiting Ripple from further violating securities laws. However, she rejected the SEC's request for Ripple to return sales profits, stating that the case "does not involve allegations of fraud, misappropriation, or other more serious conduct," and that the SEC failed to prove that Ripple's unregistered sales caused significant losses to investors.The SEC may challenge the judge's ruling in an appeal. Bloomberg Intelligence analyst Elliot Stein stated that Torres's latest ruling is favorable for Coinbase Global Inc. in its fight with the agency and may increase its chances of obtaining a favorable ruling in the case.

ChainCatcher news, according to CNBC, after partially winning a legal dispute with the SEC, Chief Legal Officer Stu Alderoty stated in an interview that he believes U.S. banks will reuse Ripple's ODL product for cross-border transactions.Stu Alderoty added, "We hope this ruling will provide some reassurance to financial institutions' clients or potential clients, at least to start a dialogue about the issues they encounter in their business, which are real-world problems related to excessive costs when transferring value across borders."

ChainCatcher news, Ripple released its Q4 2022 market report. The data shows that Ripple sold $226 million worth of XRP tokens in the fourth quarter (net of purchases), compared to $310 million worth of Ripple tokens sold in the third quarter. The XRP spot market experienced an overall downward trend, with an average daily trading volume of approximately $700 million, down from $1.1 billion in Q1 2022.Ripple-supported cryptocurrency's On-Demand Liquidity (ODL) cross-border payment solution has now launched in nearly 40 payment markets, including France and Sweden, compared to only 3 markets in 2020. Additionally, Ripple and Peersyst have released the first phase of the Ethereum Virtual Machine (EVM) sidechain for the XRP Ledger (XRPL) on Devnet, enabling DeFi applications like Uniswap, Aave, and Compound to launch on XRPL. (Source link)