- BitMart, a prominent crypto exchange, announces a 50% Off Flash Sale for XRP, exclusive for its non-US users.
- Legal debate continues over Ripple’s XRP token, with pro-XRP lawyer John Deaton defending Ripple’s execs against SEC allegations.
BitMart, a top-tier crypto exchange, has declared an exciting opportunity for its users – a Flash Sale offering XRP at a discount of 50%. This event, part of BitMart’s “More Crypto, Less Fees” campaigns, is an expression of gratitude towards its loyal user base.
Trying something new – some thoughts from me on the events (specifically the release of the Hinman documents) of this week. For me, this has all had a personal bent to it – and felt like it warranted some personal comments. pic.twitter.com/k4dYeQGhsN
— Brad Garlinghouse (@bgarlinghouse) June 16, 2023
Slated for June 21-22, the XRP 50% Off Flash Sale provides an unprecedented opportunity to acquire XRP at a significant markdown. Eligibility hinges on procuring a ticket via BitMart Launchpad, serving as the gateway to this flash sale.
Participants can anticipate purchasing XRP at about half the average price seen in the preceding two days. This lucrative discount empowers users to augment their crypto holdings or initiate investments in XRP at a lesser expense.
To promote equitable distribution and thwart hoarding, BitMart delineates certain stipulations for the flash sale. Users are restricted to buying one ticket each, with the total available tickets correlating with the amount of XRP set aside for the event. Key to note, participation mandates users to complete the Know Your Customer (KYC) verification process by June 20, 2023. Moreover, Tether (USDT) is the required currency for this flash sale, necessitating users to have USDT in their BitMart accounts to partake.
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The event follows roughly half a year after BitMart’s formal endorsement of XRP, despite an ongoing SEC lawsuit. Yet, BitMart does not permit XRP trading for its US users, and the flash sale likewise excludes US residents.
Simultaneously, legal arguments around Ripple’s XRP token continue to unravel. CryptoLaw founder John Deaton recently defended Ripple executives Brad Garlinghouse and Chris Larsen in a Twitter thread, stating no rational jury would conclude the duo was reckless in dispersing XRP.
The ongoing battle between Ripple and SEC emerged in December 2020 when the SEC sued Ripple and its execs, accusing them of recklessly allowing the company to distribute XRP. Ripple’s General Counsel, Stuart Alderoty, has called these allegations outrageous, stating that the SEC is, at worst, deliberately distorting the law to foster confusion.
In response, Deaton accused the SEC of bullying tactics, while staunchly defending Ripple’s executives. Deaton further contended that despite Ripple’s transparency in its XRP transactions, the SEC perused the personal financial records of Garlinghouse and Larsen in search of incriminating evidence.
Deaton remains steadfast in his defense of Ripple’s execs, highlighting the SEC’s internal confusion about XRP’s status, thereby casting doubt on the accusation of recklessness leveled against Ripple’s top brass.
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