XRP falls as Ripple clashes with SEC, InQubeta presale draws investors
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XRP has been falling, partly because of the ongoing dispute between Ripple Labs and the Securities and Exchange Commission (SEC).
The SEC wants Ripple to provide financial statements and XRP sales contracts after the complaint was made. Ripple disagrees, saying post-complaint sales data should not affect the court’s decision.
Investor attention has shifted to initial funding rounds of crypto projects, such as InQubeta’s (QUBE) presale, which has raised over $8.5 million.
The platform’s use of AI and blockchain technology has garnered interest and confidence.
InQubeta presale attracts investors
InQubeta has raised over $8.5 million in the ongoing presale.
The company aims to combine AI with crypto and blockchain.
It plans to create the first crypto-based crowdfunding platform for AI developers and a non-fungible token (NFT) marketplace to achieve this.
QUBE, its native token, is deflationary. A 2% tax fee is sent to a burn wallet. Meanwhile, an additional 5% goes to a reward pool when buying or selling.
Token holders can also earn rewards by staking.
In stage 7, QUBE has increased from $0.007 to $0.0224, selling over 735 million QUBE.
Three phases remain. QUBE may list at around $0.0308.
Ripple’s dispute with the U.S. SEC
The ongoing legal dispute between Ripple and the U.S. SEC revolves around the sale of XRP.
The regulator wants Ripple to provide financial documents and sales contracts for 2022-2023.Â
However, Ripple has filed a motion to dismiss the request.
The SEC argues that this evidence is relevant to determining remedies for any violations.
In the last six months, XRP has decreased by 24%, partly because of this dispute.
Conclusion
Though crypto adoption is rising following the approval of spot Bitcoin ETFs, XRP is under pressure. At the same time, Ripple continues to dispute with the U.S. SEC. Amid this, InQubeta is trending higher as more investors explore its investment model.
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