Wed. 12/23 – XRP, The 3rd Biggest Cryptocurrency Might Be In Big Trouble

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Tech News, News, Technology

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🗓️ 23 December 2020

⏱️ 22 minutes

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Summary

The SEC does indeed sue Ripple, and that could be a bigger deal than I thought. Twitter won’t hand over the @Potus Twitter followers to Biden. What Zoom wants to do for its next act beyond video. Controlling your AirPods with your teeth. And, special for this week, a Long Holiday Weekend edition of the Longreads Suggestions. Sponsors: Hawthorne.co, promocode: techmeme Tovala.com/ride Links: SEC Sues Ripple Over 7-Year, $1.3B ‘Ongoing’ XRP Sale (CoinDesk) Biden @POTUS Account Reset to Zero With Trump Followers Out (Bloomberg) Telegram, nearing 500 million users, to begin monetizing the app (TechCrunch) Buoyed by Video Success, Zoom Explores Email, Calendar Services (The Information) Apple Patent reveals new Through-Body' input for AirPods allowing users to control functionality by touching their face, clicking their teeth & more (Patently Apple) Weekend Longreads Suggestions: Our Digital Lives Drive a Brick-and-Mortar Boom in Data Centers (NYTimes) The North Carolina Kid Who Cracked YouTube’s Secret Code (Bloomberg) What if life were a video game? These 650,000 people imagine it that way. (The Washington Post) Czech Startup Founders Turn Billionaires Without VC Help (Bloomberg) Inside the Whale: An Interview with an Anonymous Amazonian (Logic Magazine) Star Wars toys keep changing, and leaving kids behind (Polygon) Shigeru Miyamoto Wants to Create a Kinder World (The New Yorker) Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Tech Mem Right Home for Wednesday, December 23rd, 2020.
0:07.8	I'm Brian McCullough. Today, the SEC does indeed sue Ripple, and that could be a bigger deal than I thought.
0:14.8	Twitter isn't handing over the existing at PODAS Twitter followers to
0:19.7	President-elect Biden, what Zoom wants to do for its next act beyond video, controlling your
0:25.8	air pods with your teeth, and special for this week, a long holiday weekend edition
0:30.6	of the Long Reed suggestions. Here's what you missed today in the world of tech.
0:39.0	The SEC has indeed gone ahead and sued Ripple Labs, its CEO Brad Garlinghouse and Chairman
0:46.3	Chris Larson, alleging that they violated federal securities laws by selling
0:51.2	XRP to retail customers. This is actually a bigger deal than I thought
0:56.4	because it might actually lead to the delisting of XRP from major cryptocurrency exchanges. The price of XRP is down over 30% at the time of this
1:07.4	writing, quoting Coin Desk.
1:09.7	According to a lawsuit filed Tuesday, Ripple raised $1.3 billion over a seven-year period to retail
1:16.3	investors through its sale of XRP on an ongoing basis.
1:20.5	Ripple CEO Brad Garlinghouse announced Monday that the SEC had told his company of the impending lawsuit and published the payment firm's Wells response, a document that seeks to tell the SEC why certain activity did not violate U.S. securities laws.
1:35.0	The San Francisco-based FinTech firm has long maintained that XRP, the
1:39.0	cryptocurrency, is separate from Ripple, the company. The cryptocurrency was often referred to as Ripple through early
1:45.7	2018 and shared a logo with the company until later that year. The impact could be wide-ranging.
1:52.0	Several exchanges list XRP in the U.S.
1:54.8	With only one deciding to de-list the cryptocurrency
1:58.0	ahead of the Tuesday lawsuit.
2:00.2	If the SEC prevails, platforms that continue to list the crypto may have to register as
2:05.8	securities exchanges.
	...

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