Cryptocurrency’Ripple’ crashed in half in two days after US securities authorities lawsuit

Input 2020.12.24 11:30

The value of’Ripple (XRP)’, which played a part of the’three cryptocurrencies’ along with Bitcoin and Ethereum, was cut in half in two days in the aftermath of a lawsuit filed by the US securities authorities.

According to the cryptocurrency site CoinDesk, Ripple’s transaction price was formed at 27 cents at 7:30 am (KST) on the 24th, and its value dropped by 38.5% from the day before. Compared to the price of 56 cents at the same time two days ago, it fell in half.

The aftermath that the US Securities and Exchange Commission (SEC) filed a complaint in Manhattan Federal Court on the 22nd (local time) against Ripple Labs and the CEO, who led the launch of Ripple, claiming that the profits from Ripple sales should be returned along with a fine. Was great. .

The SEC claimed that the cryptocurrency Ripple had been selling $1.38 billion worth of Ripple, a’illegal securities’ that did not go through the public offering procedure according to the law, and some media in the U.S. delivered related news, fueling the decline.

As the price plunged due to the shock, Ripple, which was the three largest cryptocurrency after Bitcoin and Ethereum based on market capitalization, gave its place to another cryptocurrency tether on the 23rd (local time).

Ripple is a virtual currency launched in 2012 led by the founders of Ripple Labs. Although the company later handed over the initiative to an independent developer network, it is still known to have 6.4 billion Ripples.