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Cryptocurrency XRP Plunges 25% After SEC Files Lawsuit Against Ripple

The SEC is suing Ripple and two of its executives, CEO Brad Garlinghouse and co-founder Chris Larsen. At the heart of the federal agency s complaint is the claim that XRP should be treated as a security like a share in a company rather than a currency. We allege that Ripple, Larsen, and Garlinghouse failed to register their ongoing offer and sale of billions of XRP to retail investors, which deprived potential purchasers of adequate disclosures about XRP and Ripple s business and other important long-standing protections that are fundamental to our robust public market system, said Stephanie Avakian, director of the SEC s Enforcement Division.

Cryptocurrency firm Ripple expects to be sued by the SEC; XRP plunges

Cryptocurrency firm Ripple expects to be sued by the SEC; XRP plunges CNBC 12/22/2020 Ryan Browne The SEC is set to bring a lawsuit against Ripple claiming the company violated laws against selling unregistered securities when it sold XRP to investors. Ripple CEO Brad Garlinghouse said the SEC s suit was fundamentally wrong as a matter of law and fact and questioned its timing. XRP declined sharply following news of the expected SEC suit, with the cryptocurrency falling over 17% to around 46 cents. © Provided by CNBC In this photo illustration of the ripple cryptocurrency altcoin sits arranged for a photograph on April 25, 2018 in London, England. 

E-commerce firm Wish sees shares fall 5per cent in market debut

E-commerce firm Wish sees shares fall 5per cent in market debut Toggle share menu Advertisement E-commerce firm Wish sees shares fall 5per cent in market debut :Shopping app Wish s parent company ContextLogic Inc saw its share price fall more than 5per cent in its trading debut on Wednesday, after raising US$1.1 billion in an initial public offering (IPO). FILE PHOTO: A view of the exterior of the Nasdaq market site in the Manhattan borough of New York City, U.S., October 24, 2016. REUTERS/Shannon Stapleton/File Photo 17 Dec 2020 09:20AM Share this content Bookmark REUTERS -Shopping app Wish s parent company ContextLogic Inc saw its share price fall more than 5per cent in its trading debut on Wednesday, after raising US$1.1 billion in an initial public offering (IPO).

E-commerce firm Wish sees shares fall 5% in market debut

E-commerce firm Wish sees shares fall 5% in market debut
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.

Shares of e-commerce firm Wish fall in U S market debut

Shares of e-commerce firm Wish fall in U S market debut
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.

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