SEC win prompts Ripple for extension while market eyes this AI altcoin growth
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Ripple seeks court extension amid SEC battle as crypto investors eye InQubeta (QUBE) with bullish outlook.
Ripple finds itself again in the spotlight, navigating its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). This latest chapter unfolds as Ripple seeks additional time to fulfill the court’s order, requesting an extension until Feb. 20 to respond to the SEC’s discovery requests comprehensively.
Amid this drama, there’s been a growing interest in an emerging crypto, InQubeta (QUBE), with bullish predictions on the radar.
Ripple’s legal odyssey: a quest for clarity
Ripple’s request for an extension underscores the enormity of the task at hand, reflecting the firm’s commitment to thoroughness and precision in its legal defense. The backdrop to this request is a legal tussle that has seen Ripple and the SEC locked in a dispute over the classification and treatment of XRP, Ripple’s native cryptocurrency. The heart of the matter lies in the differentiation between securities offerings and the nature of institutional XRP sales. This debate has significant implications for Ripple and the broader crypto market.
Last year, the legal skirmishes reached a notable milestone when Judge Analisa Torres delivered a mixed ruling, affirming that while institutional XRP sales could be considered unregistered securities offerings, programmatic sales and those on retail exchanges did not fall under the same category. This pivotal victory for Ripple was a moment of vindication, offering a glimmer of hope for a favorable resolution to the protracted legal battles that have clouded Ripple’s horizon.
The market’s new darling: InQubeta’s ascent
Amid the ongoing legal battle between Ripple and the SEC, a new cryptocurrency, InQubeta (QUBE), is gaining attention for its innovative approach to AI startup investments. Unlike traditional ICOs, InQubeta uses QUBE tokens to allow fractional investments in AI startups, offering a novel method for investors to gain equity or rewards through NFTs that represent real stakes in these companies. This approach aims to democratize investments in the high-growth AI sector, making it accessible to a broader audience.
InQubeta’s presale has already raised over $9.6 million, indicating strong interest in its model of blending blockchain technology with AI startup financing. The platform will introduce a deflationary token model to reward long-term investors and ensure sustainability. Future plans include launching an NFT marketplace, a proprietary swap mechanism, a decentralized autonomous organization (DAO), and exploring cross-chain functionality by 2024.
This development reflects a growing trend of leveraging blockchain technology to innovate in traditional investment spaces, particularly in the rapidly evolving AI industry. InQubeta’s approach offers a new avenue for investment and supports the growth of AI innovations by connecting investors directly with startups.
Conclusion
As Ripple navigates the legal intricacies of its ongoing battle with the SEC, a new player, InQubeta, emerges, offering a glimpse into the potential future of blockchain and AI integration. This juxtaposition of Ripple’s legal challenges against InQubeta’s innovative approach highlights a dynamic narrative within the cryptocurrency sector, emphasizing both the hurdles and the opportunities that lie ahead.
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