Ripple CEO Brad Garlinghouse Says SEC Might Sue Company

Ripple CEO Brad Garlinghouse said he is bracing up for possible lawsuits from the Securities and Exchange Commission over the alleged sale of unlicensed securities.

Garlinghouse said himself, and co-founder Chris Larsen who he believes will be named as co-defendants in the lawsuit are ready to fight back. “I think we have to stand up for all of crypto and not let the SEC bully the entire industry,” said Garlinghouse.

Ripple’s XRP is the third largest cryptocurrency by market cap.

Grayscale Temporarily Pauses New Investments In Crypto Trust

Investment management firm Grayscale has temporarily stopped receiving new investments into six of its trusts, which includes Bitcoin and Ethereum Trusts.

The crypto trusts which are currently unavailable include Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin and Digital Large Cap Fund Trusts.

Microstrategy Tops Up Crypto Treasury, Now Holds Over 7,000 BTC

Business intelligence company MicroStrategy has added 29,646 bitcoins, worth $650 million to its crypto treasury.

According to a tweet by CEO of MicroStrategy Michael Saylor, the company now holds over $1 billion worth of bitcoins.

“MicroStrategy has purchased an additional 29,646 bitcoins for $650 million at an average price of $21,925 per bitcoin and now holds an aggregate of 70,470 bitcoins purchased for $1.125 billion at an average price of $15,964 per bitcoin,” he tweeted.

Nigeria Seats Second as the Largest Bitcoin Trader Worldwide On Paxful

Nigeria now holds the second place as the global marketplace for bitcoin, having traded 60,215 bitcoins, valued at more than $566 million on Paxful, a leading peer-to-peer bitcoin marketplace.

According to a report on Quartz Africa, Nigeria is only behind USA which traded 535,660 BTC, worth $3,755,463,837.

“Beginning of May 2015 to the middle of November this year, bitcoin trade in Nigeria have increased yearly at least 19% in volume since 2017, and the highest volume (20,504.50) was traded in 2020,” the report read.