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can someone explain what happened to kraken and XRT in the past 24h?
what the hell is happening with robonomics XRT coin!?
The Kusama parachains auctions are now, and it's an opportunity to be early on solid projects.
Crypto scams coming to a main stream platform near you!
Cryptocurrency advice please.
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Everyone is forgetting ETFs also open the door wide open for shorting and major manipulation. XRT is a prime example of this.
ETFs can be shorted to oblivion without located. Look at XRT with ~300% short interest. This basically creates bitcoins out of thin air to sell.
Reminds me of when they made the XRT the meme stock EFT. They made it as an investment vessel according to their words meanwhile it just gives them double the amount I guess of coins with this one to say that they have. I don't understand why they made this EFT.. and 9 out of 10 times it's something nefarious
Can’t you short ETFs into the ground ie.(XRT), should we be concerned this is just a tool that can be used to exert huge down pressure.
If you look at GameStop stock and the blatant manipulation over the last 3 + years in particular...I think mentioning the drawbacks of Bitcoin being part of an ETF is a very valid point. An ETF is a basket of securities and it is widely believed that XRT was used to hide short positions and naked short selling to take place. I'm all for seeing Bitcoin going up, at least temporarily, but to me it seems like a form of control over a once untouchable and with infinite growth.
Within AI, I like AIOZ and RNDR. Within Depin, projects like Weaver Labs (ADE token) and Robonomics (XRT) are very interesting. L2 (ARB, CTSI) and L1 (SOL, DOT) are my favorites.
Go take a look at existing spot ETFs like XRT, which has historically had short interest over 1000%. Ask yourself if that seems legit? Did you know that certain entities are allowed to extract the underlying and rebalance it with "likewise" stock? How are you going to verify that audits, if any, are truthful about the underlying holdings of btc? You can never be certain that reported circulation of the etf is accurate. Neither can you be certain that underlying btc is accurate if audited. You certainly can't know when it isn't audited. You're taking a fully transparent product and putting it in a black box for institutions to manipulate, just like the stock market. How many times havent we caught exchanges with withdrawal problems? Do you think their system just breaks down randomly for half a day? It's because they sold more to their users than they own, and now enough people attempted to withdraw at the same time. Not your keys, not your crypto remember? Now y'all are practically cheering for institutions to bend you over with a product that goes against the very point of btc - no infinite liquidity due to illegal dilution
Do you honestly believe that is true for the stock market? That why we see ETFs with >1000% short interest like XRT? ETFs are a tool for manipulation. Believing that the sec is on top of regulating said ETFs is woefully hilarious. After years and years of rulemaking Congress, sec isn't much more than a wet noodle when it comes to regulating the institutions. Why do you think a bitcoin spot etf would be any more honest? There is always a catch to derivative products
*That's not how ETFs are supposed to work. It CAN in fact work that way, and they are abused in that way. Look at XRT. Sort of the most famous most abused ETF. Last year it had a short interest of around 1200%. Why? Because organizations can borrow units of the ETF, "unpack" them and then sell the underlying assets into the market. Then when it comes time to return the ETF units, they just FTD (fail to deliver). Rinse and repeat. The SEC released a report showing exactly this scenario back in 2011 or 2015 - I forget now. There was a great YouTube video of a guy giving a talk about the SECs report and findings
I personally believe the ETF will just be another mechanism to short/sell BTC. XRT (an ETF) is pretty famous for always having an insanely high short interest. I've seen it as high (low?) as 1200%. It doesn't make sense.
XRT was once shorted 800% of the outstanding shares. There are more bitcoin bears than bulls and they have deeper pockets than anything the chain has seen to date. The spot ETF will be short term good (catalyst) and long term bad as it invites price discovery.
My honest opinion: *\[puts on tinfoil hat\]* The stock market is more fraudulent than the public realizes. Bad actors will abuse the Bitcoin ETF as they abuse other ETF's. Due to Bitcoins public ledger, it will become obvious the Bitcoin ETF does not actually hold the Bitcoin it's supposed to. That will lead to questions about other ETFs....which they do not want. Example: XRT --- This ETF regularly has a short interest of *insane* amounts. Right now I see 250%, I've seen it as high as 1400%. That just doesn't make sense. On top of that, Bitcoin, despite it's ups and downs, remains the best performing asset. While it remains to be seen, I think everyone with half a brain can see that Bitcoin is here to stay. We're past the initial "will it survive, will it die" phase. Why invest in any particular stock, when you could invest in Bitcoin and do better? That's a lot of money flowing out of the traditional market, and into Bitcoin. Ok, that's my tinfoil hat rant.
It’s not that simple. Look at XRT & GameStop. The hedgies can short the ETFs meaning that the actual institutional holdings of btc could be a net 0
Probably shorting. Look into the historical short interest of the XRT ETF (several hundred percent for very long times is normal) and the redemption process that allows "authorized participants" to create new ETF shares more or less as they please. Unlike regular stock, ETF stocks do not have a legal upper limit to how much short interest they can have. Another "quality" of good old stocks is that they are traded in both lit and "internalized" markets at liquidity levels that dwarf the self-custodial crypto market. A market maker who wants to keep the price up can buy on the lit market and sell in a dark pool or OTC. If they want to keep the price down, they reverse the relationship. Combine that with an allowance for unlimited short interest of the ETF's stock and you have a pretty cool tool to direct the price of the underlying asset to your liking. I expect the price of BTC to rocket at first, when an ETF is eventually live. Then it will be suppressed, endlessly. And there really cannot be an end to the suppression because there are still margin levels to pay attention to for the ETF's authorized participants. The price can only be allowed to rise as much as their indebtedness (from their shorting of the ETF) permits without incurring losses.
Man they about to abuse crypto that much more. Maybe they'll call it the short basket lolol. Uh what oh XRT already exist. Ohhhh.
Are we to late to invest in XRP at this stage of the markets, we seem to be stuck in a holding pattern at the moment, it will be interesting the next few months, I plan to buy and hold 5 diversified coins, plus Bitcoin and ETH, should I add XRT !
Would say XRT (Robonomics), I loved how it was targeting IoT and was really interested in seeing it working out. I knew we were in for a long ride when they couldn't even secure a parachain slot. The best they had was a smart cities partnership with Google which turned out to not manifest into anything so far. Weaver Labs is now doing exactly as I would have expected from them, which is to have real life products with actual support from IoT institutions that matter.
Robonomics! I remember being pumped reading the 'Smart cities with Google' article. Sadly, nothing to show for it years later. To me it was a case of great idea with no execution. Now Weaver Labs are doing these same things, without selling a token and a dream, just pure focused buidl. I hope the project later comes good and XRT holders smile in the end, but I'm out a long time ago.
Example of naked short in real instance: SEC Chairman, Mr. Gary Gensler I know its only your 58th week on the job but how can XRT have 9M shares outstanding and 31M shares sold short? I'll wait...
Looks at the abuse of XRT. Etfs have no sipply cap and APs have numberous tools to hide overcreation literally forever. ETFs are a scam
Ocean and Robonomics (kinda disappointed with XRT price action) drew me to Polkadot years back. It's refreshing to see the number of solid projects onboarded on it. Crowdfunded for Kilt and Unique too.
The shorts in GME never covered. SEC said themselves Jan 2021 was buying pressure only not short covering or closing. The SI% when down on GME because shorts were moved to less visible place. First the swaps market which doesn’t publicly report anything because they are under the jurisdiction of the CFTC not the SEC. The other place shorts were moved where can see them is ETFs that contain GME and all meme stocks. XRT one of the ETFs has had a SI% between 400- 1200% since March 2021. (The second time GME ran from $40 to $350) until short close out or are liquidated then the squeeze hasn’t happened. The only difference between Porsche buy VW and retail buying GME is that Porsche understood their stock has to be registered in their name and not a brokers. Retail apes just figured out direct registration like 6 months ago but have been on a mad dash to lock up the float. Last earnings call GME reported 14,000,000 shares of the free float were direct register by retail so far. The squeeze is very much still in play and going to happen.
I'm a sceptical guy so (at first) I bought one share just for the memes. Then GME turned out to be a wild ride. Check this out: They said not to trust self reported short positions. Then this lawyer Wes Christian who's lawfirm represents companies that have been shorted does an AMA and states that for every client he had handled, those numbers have been BS. I thought that was kind of interesting. Nothing more than that but it was enough to keep me coming back to the sub. They start talking about how ETFs that included GME were being shorted as a way to further short GME. I thought that was total tin foil hat brigade stuff. Then the SEC report itself - the one on the GME January event - confirmed that the XRT ETF had been used to short GME. That was WTF moment for me. They said dark markets are being used to manipulate prices. I was doubting again (but maybe to a lesser degree haha). Then the head of the NYSE says the non lit markets hurt price discovery. That gets followed up the head of the SEC (Gensler) coming out and officially stating that over 90% of retail's market orders get sent to these dark mark instead of lit exchanges. They then start talking about how DRS shares will help prevent manipulation. Now this has not been proven true or false but I can tell you that (for now) as the percentage of the free float that has been DRS'ed has grown, so too has the disparity between AMC and GME increased - previously they were in lockstep. Maybe that is just coincidence but these days I'm paying attention to the popular suppositions of the GME sub. That said, I definitely don't know how these markets work. All I can confident tell you is that algo trading is king, SEC fines are usually just cost of business, and TA is like predicting the weather.
FET, XRT, IOTA my best blockchain AI projects.
I never bought a single thing just because of the hype or whatever. If I like what I see when I do my research and if I find it useful I will invest, definitely. That won't guarantee that you will be 100% successful and I believe that we all made shitty investments from time to time. I made a mistake with RVX it's dumping constantly and I sold my bag as soon as I realized that they probably won't deliver. As you said, OP, I stopped believing in it... On the other side, I still believe in XRT even if the price could be much better. I also don't have plans to give up on QTZ and UNQ as well, especially because Unique Network won the parachain slot on both Kusama and Polkadot. I like to compare this to spin fishing or fishing in general. If you don't trust your bait, you won't be catching a damn thing. It's the same with gains in crypto.
Are you saying XRT can have different values on different sites?? Cause that seems insane. The graph on Kraken for XRT was up in the hundreds when they started trading a few days ago, which also seems weird. I don't get what is happening, were the prices on Kraken a few days ago legit? Cause I missed out in that case :( Maybe it will go up again?
i mean, XRT looks like any other IoT coin to me. why did it go up 880% after launch? i understand the CEX onboarding effect, but ive never heard of that token and 880% spike is quite a lot for simply enable trading on a coin..
Robonomix XRT trades on kraken for 200€, but swaps for $7 at uniswap. Am I high?
Same here, just saw the bump on kraken. Weird because on other sites such as Coinbase, XRT is still at 7$ Maybe it's a bug on kraken..
are you not aware of the ETF known as XRT, or the situation surrounding Gamestop stock fails-to-deliver?
You think that XRT won't get to ATH again?
Long gone are my days with XRT. Awesome project but price hardly reflects. Still a very bright future ahead so I'm keeping an eye on it. My interest still remains in those techy projects and with web3 coming to light I'm getting more AIOZ, ARGO, OCEAN to boot.
I want to get more FWT and XRT if I get a good chance. My focus is mostly on YLD because I need more of their tokens to get better APY on my stablecoin staking there. I am double-digit right now but the maximum is 18%, which is pretty much decent IMO. A lot of people started staking there lately, more than 50M YLD are locked and about 75% of the circulating supply is on the platform. Can be helpful during this crash. I think that DOT is on a good discount as well. Bagged some under $20 and will get more. Planning to participate in Unique Network crowdloan that should start in Q1 and help them to become a parachain for Polkadot. Tried to mint an NFT on their testnet today and it was pretty much easy. I think that the whole NFT space will be able to benefit from UNQ in the near future. That's the first NFT chain for Polkadot, actually.
You're right. What if I told you that much more information has been uncovered, and there was something we can actually do about it other than "occupy Wallstreet" and get laughed at? By direct registering shares, it pulls them from the DTCC and prevents shares from being abused by market makers. People are trying to DRS the entire GME float which would immediately expose any counterfeit shares. ComputerShare, the direct transfer agent for GameStop (and pretty much every other major company), has done multiple AMA's on SuperStonk, and have made big changes to help accommodate us specifically. It's actually wild to witness in real time. Just last week, Apex Clearing (who turned off the buy button on many different brokerages), started reversing shares in IRA accounts that were direct registered through ComputerShare. They're squirming, and it's fascinating to see. Then there's ETF's like XRT with over 700% short interest. They're panicking and it's showing.
Been long on this one ocean😬 it and XRT introduced me to the dotsama world
ETFs and Indexes are great! There is some type of fund for every aspect of life, pick an area you know a bit about and I’m sure there are all sorts of funds containing exposure to many stocks in that sector. Personally, I like tickers SPY and TQQQ for general marketwide exposure and long term growth, but then I also like Ticker XRT, which according to fintel has a short interest of around ~200% (holding this short term until it pops, then dump)
He/she forgot ONE, CKB and LRC. Here is a new take, sort of: KDA, XRT, MRPH, DOT
So what do you think those contracts expiring worthless is going to do? Also, if hedge funds can hide SI so easily, why is it reported so high on XRT? Also, why do you believe the XRT SI numbers publicly available, but not GME? I think if you unplugged from the Superstonk echo chamber and actually thought critically about what you have been led to believe, you will realize it is mostly delusional gibberish meant to keep stringing bag holders along.
Puts and shorts are not the same thing lmao. GME isn’t even in the top ten stocks held by XRT, so even if that squeezes I doubt it will have much impact on GME. Maybe you all should be trying to buy XRT and force a squeeze there?
XRT is a gme holding ETF. Its over 500% short right now according to public data. You'll find this is true of most gme holding ETFs. This change happened in line with the drop in short % on game shares directly. Also look at the put heavy options chains. January alone has puts accounting for more than half of all GameStop shares at a $5 strike or lower. There is clearly a large number of shorts in this game and they want you to think the interest has dropped away.
We all know that BTC and ETH are the OGs of the crypto market but the real profit is in altcoins. Projects like AIOZ DAFI and XRT have been keeping my portfolio bullish despite the dip
Derivatives are not dollars, they are derived assets given a valuation that is not necessarily supported by the under lying assets. (XRT short interest anyone?) If there was a mass exodus from the derivatives market many people would lose their ass because the liquid currency available is far less than overall valuation of the market
Contrary opinion here. Read about the etf XRT, it's on the threshold list already. Wut mean? Super-manipulated. The SEC is actually trying to slow all of this shit down in order to protect the little guy like you and me. All of these ETFs and derivatives and whatnot is for wall Street to make money. Who pitches the agenda? The Crypto media. Who owns all of them? Wall Street. Crypto started off on purely libertarian ideals. Sadly nowadays people have become so misled that the lines between libertarian and wall Street agenda has become blurred.
DOT is gonna be at 3 digits soon. It's my no.1 for 2022, mos def. I also think that UNQ will do a good job next year, waiting for the token sale to grab some. It's the first NFT chain for Polkadot and Kusama. Still have high hopes for XRT as well I think that they can reach ATH again, it'll be hard, ofc.
That was a bit sad, but at least Unique Network managed to win the 14th parachain slot auction with their Quartz. But like I said. I will definitely stick with XRT for a while.
Yeah, I'm really surprised on how they just went off radar. XRT is AI/Robotics yes, they were working in collaboration with Microsoft on a project called "Smart Cities"; I'm sure that's still on in the background low key. I've had OCEAN a long time, FET is solid but I was limited on cash so I went with low cap ARGO. Didn't consider ROSE🤔. I like these techy projects, Added AIOZ last. I believe they are the ones that will stand the test of time.
To be honest with you I see nothing undervalued about ADA because keeps dropping now and then, if you are talking about undervalued projects then you should mention DAFI protocol, RAMP, CERE, and XRT. these projects still have a lot to offer to the industry than ADA
IOTA is a top project, it used to be one of the very popular projects back then. I wonder what happened, I guess it slowed down. I don't know much about XRT except it's about robotics. I have been in FET, OCEAN, ROSE for some time now.
This is very correct because I've been a fan of diversification of tokens, recently bought from NFT to P2E and some coins like AIOZ, SOL, DAFI protocol, RAMP, XRT. This way I'm certain my wallet will remain healthy
I might be able to mention a few which are AIOZ, RAMP, DAFI, CERE, DIA, XRT. These are altcoins I know will be very bullish come 2022. Another way will be to stake now for some nice passive income which is one of the features RAMP offers.
ETH is fine but are you prepared for the huge gas fees ?. If I'm to give you some options I will say maybe you should look into altcoins like RAMP, SOL, MATIC, AIOZ, DAFI, and XRT.
I still believe XRT is going to recover. I agree that it could look better but the important thing is not to lose patience.
XRT price action baffles me a lot. Should be way more higher than it is but clearly not appealing to people it seems. Marvelous project, literally inventing AI/Blockchain space. Speaking of DAFI, at first I didn't understand how it works at all, but seeing how Polygen partnership is playing out makes me more bullish than ever. Plus it's super cheap now ;)
This sums up a lot of projects out there, TBH...But I am talking about tokens with utility and a usecase. I believe patience is the key if you really believe in the projects you own. I have some stuff that hasn't pumped as hard as I wanted but I still have no intentions of selling those yet. FWT can do much better, DOT will be a 3-digit one, I am sure, EWT and XRT will both pass ATHs... Just stop overthinking and chill. There are more things you can do. Since I believe that this dip is over I will focus more on finding new stuff to invest in and participate in cpl of sales if I'm lucky. The next one will be Unique Network one, NFT chain for Polkadot.
My portfolio is much higher in value than my salary. Long time ago I've decided to put a huge percent of my salary on coins like AIOZ, RAMP,XRT, DAFI,
I have my long bets on CARD for Web 3.0 and content creation/rewarding users, and XRT for AI and robotics on the blockchain. Having also ETH - it should go way higher with 2.0, BNB - token burn, I don't think CZ will give up that easily top 5 places, and UTK - for payments, this one can still produce at least 3x from here.
What are your thoughts on Robonomics(XRT)?
Reading this just gave me more reasons to buy coins when they are still undervalued and held for as long as possible. Coins like INJ, XRT, DAFI are all still undervalued now and the best time to buy DAFI is now especially with the staking V2 pool going live on polygon, project is showing some bullish signs.
Yea I have a bunch of great shitcoin projects with potential. Only the cool sounding ones with a sweet logo and website actually do anything. Can someone please buy and shill Modefi to make me some money? Maybe DIA as well. XRT has a cool logo, cool name, great idea, potential parachain, and it does nothing. I put a lot in there and lost a lot.
BTC and ETH was the foundation of my entering into crypto but coins like Bnb, XRT, AIOZ, and LINK sustained my interest in the market
This is a question that will be very dicey to answer , but while waiting for the moon i bought tokens like XRT, SOL , MATIC and later venture into staking RAMP for some passive income
I think this is a good season for dog coins like shiba, Doge and the rest , Other altcoins like XRT, INJ and RAMP pump is looking very likely in the coming weeks .
DAG when it was an erc token. Missed the mainnet swap. Lost 100%. Lost 98% on Open Protocol, Hydrogen, and Endor. Lost 50-60% on Origin Protocol, Modefi, XRT, ALN, and recently 90% on GRO. There are others on a ledger I have from 2018 where it would cost way more in gas and fees to sell them. So they sit, forever. That is my shame wallet. But I did a 10x on a large purchase of Kadena, 10x on Secret, over 10x on Ren, 9x on FTM, 35x on QNT, and a ridiculous amount on ETH when I bought a lot when it was only $80-100 during the darkest days of 2018. Bought a lot of BTC that same time at around $3k per coin.
That depends on what are you investing in right now. I won't be buying BTC right now or ETH, I got those when they were around 2k and 33k. But I would invest in something that is not yet pumped like OCEAN, FWT, XRT...
Do you mean i should have converted to XRT before i send from coinbase to coinbase wallet?
CARD - Web 3.0 dapps platform, payment service, content creation and rewards. XRT - IoT on the blockchain. UTK - another crypto payment service. DOT - connecting different projects. Those are my picks. Good luck everyone, we deserve gains in q4.
Here you have more concepts and pretty neat illustrations: https://ipfs.io/ipfs/QmRHvtsEViqHFN6Mt66p9o5MvvzB2H5uvfMTi8maAnLmfi There are different uses, it's pretty interesting: - Robonomics main goal is [to make robots part of the economy](https://blog.aira.life/the-first-in-the-economy-of-robots-6f4bb115643b). Examples of use cases: *Aira Smart building offsetting | DAO IPCI IoT connection | An example of the use of securities by robots. Service of offsetting the carbon footprint of smart buildings based on information about geolocation and power consumption. *Aira drone flight report | Distributed sky | An example of a service to save a report on a completed task. Service of public reports on completed drone flights. Allowing for machine-to-machine economical communication (this is, for machine to share certain information, it requires a variable amount of $ to allow access to it). - Devs in Robonomics can develop robots that a community can access through XRT. This would allow for specific price for a community to rent a drone that will analyse contamination in a river, in a city, etc. This could be programmed to be done in a region, in all cities, X times a month. Etc, etc. -Robonomics is also developing a competition to Amazon Web Services, but for IOT, and decentralized. XRT might be used for access to this network. -Examples of monetizing Boston Dynamics robots: https://robonomics.network/blog/monetizing-logs-of-boston-dynamics-spot-with-ocean-datatokens/ -There are more complex and futuristic use cases, like robonomics + kusama interacting with mars robots: https://www.youtube.com/watch?v=31zXeUq3htE&t=75s
SEC: naked shorting on stocks and ETFs? 300% short interest in XRT? That’s cool. Also the SEC: This one! XRP! This one is a security and no I’m not reading the contracts. Clowns
I have my bets on ETH, DOT, BNB, CARD, UTK and XRT.
Can't list them all but here are some in no particular order. ETH, ADA, MATIC, QNT, EWT, XRT... Planning to get more FWT these days. Don't know if you are familiar with that one OP.
What is XRT and should I get into it?
when iit comes to IoT XRT is my fav, definitely. i also think that PLUGnet is a good investment sill. they have a lot going on behind the curtains and it's just a matter of time before that one pumps hard. launching their own blockchain soon and mainnet will be ready in Q4.
Try these on for size man. XRT, BBANK, STAK, SWFTC, KDA, HTR, BOSON, OCEAB, DIA, POLX, COTI, RAY, EWT. I've plenty more but this is a lot to read up on. Have fun on your research journey I'm in a few TG groups, it's where I learned about all the shitcoins im into. PM if you want to know them, otherwise happy hunting.
No worries. If I was to pick 5 from that I'd go KDA, OCEAN, HTR, EWT and XRT. Enjoy
You're lucky day...XRT, BBANK, STAK, SWFTC, KDA, HTR, BOSON, OCEAB, DIA, POLX, COTI, RAY, EWT. I've plenty more but this is a lot to read up on. Have fun on your research journey
I'm prepared for downvotes because these aren't talked about on here much if at all...EWT, OCEAN, HTR, KDA, COTI, XRT, DSLA. Regret selling KSM at $12 and QNT at $80. Notndoing that again. I like buying my shitcoins sub 200 rank. There's tonnes of potential future gains there if you do a little bit of research
IOTA, IOTX, XRT. Basically anything in the Internet of Things sphere. DYOR, moonshots are risky af
IOTA, IOTX, XRT. Basically anything in the Internet of Things sphere. DYOR, moonshots are risky af
It's a big list...you'll have to research them all yourself I'm not detailing what they do. I spent countless hours reading up on these and lots of other useless crap before i invested. Youre getting a headstart already by being handed this list. I'll give you 10. That's plenty for now. In no particular order. KDA, XRT, OCEAN, EWT, MOD, HTR, MITX, PHA, SWFTC, DSLA
1000x is just too much... but i will be satisfied with 100x, for sure. i believe in all the projects that i have because i can't see the meaning otherwise. it doesn't matter if that's eth or dot as the "major" ones but i also believe in my lowcaps like PLUG and XRT.
Goforth of the University of Arkansas School of Law agrees that Ripple probably flunks the Howey test. “They own such a huge portion of the tokens, and have done so much to develop the use case and functionality of XRP, you have to believe that Ripple affects the value of the token,” she said. “If it didn’t, the suit wouldn’t have hurt the token’s price.” In fact, XRP lost three-quarters of its value over an 11-day period starting just before suit was publicly announced, falling from 59 cents to 22 cents. (Speculative surges in the seven months since have sent it as high as $1.80, but today it stands at 60 cents.) The security vs. currency debate Why, then, the outcry over the SEC’s Ripple action? It’s mostly because the SEC had seemingly shrugged off Ripple’s XRP for more than seven years. That long silence may well have led the company and XRP investors to assume—in the absence of any other XRP-specific signs from the SEC—that either the value of XRP tokens was deemed sufficiently insulated from Ripple’s doings to escape being considered a security, or else the agency had essentially grandfathered XRP in. After all, XRP had already been around for four years even back when the SEC issued its initial cryptocurrency-as-unregistered-securities guidance via the 2017 DAO report. (Asked to respond, an SEC spokesperson noted in an email that the SEC lawsuit claims that “Larsen and Ripple received actual notice in 2012 of the risk that the federal securities laws could apply.”) Outside of the SEC there seems a growing consensus that XRP and other major cryptocurrencies ought to be regulated as currencies, not securities. XRP is already treated entirely as a currency by regulators in a number of countries, including the U.K., Japan, and Switzerland, and is enlisted as a form of money by hundreds of banks, companies, and consumer apps. Even the U.S. Treasury Department considers XRT to be a currency. That determination came out of a 2015 run-in that Ripple had with Treasury’s Financial Crimes Enforcement Network, or FinCEN, which claimed Ripple wasn’t fully hewing to banking regulations. Under the terms of a settlement, Ripple paid a $700,000 fine and tightened up its bank-transfer operations. That settlement specifically acknowledged that in the Treasury’s eyes, XRP is a currency, not a security. It’s a decision that wouldn’t have been binding on the SEC, but it certainly adds to the sense that Ripple might reasonably feel blindsided by the SEC’s sudden insistence years later that XRP is a security. It’s not just Ripple and its principals who have felt blindsided. In addition to the impact of the suit on XRP’s value, some 50 cryptocurrency exchanges delisted XRP or suspended trading in it. Many, perhaps even most, of the XRP holders burned by the plunge had never even heard of Ripple Labs, let alone intended to invest in the company. Or so, at least, plausibly claims John Deaton, managing partner at the Deaton Law Firm, who is representing some 19,000 XRP holders who are seeking legal standing in the SEC suit. “A lot of them knew just enough about digital currency to want to invest in the top currencies, so they bought Bitcoin, Ether, and XRP,” said Deaton. “They bought XRP to diversify, without knowing a thing about Ripple and its executives.” The SEC suit is seen by some as chilling to the entire cryptocurrency industry—an explosively growing and already deeply influential one, with the combined market cap of digital currencies currently standing at nearly $2.5 trillion. “The growth curves are crazy,” said Byrne. “One to two percent of the population holds cryptocurrency, but at current growth rates we’re not far from the day it’s 70%.” If the Ripple suit contributes to the perception that the U.S. government is unfriendly to cryptocurrency, a lot of valuable business will go elsewhere. It would certainly add to the already intense concerns over China’s hopes to dominate the global market via its central bank’s Digital Yuan, which China claims has already racked up more than $5 billion in transactions. “The lack of regulatory clarity in the U.S. is problematic for all market participants in the digital asset industry,” said Ripple general counsel Stuart Alderoty in an emailed statement. “This is not just a Ripple problem.” It’s hard to predict how the SEC suit will play out. Ripple is currently fighting it out with the agency in the U.S. Court for the Southern District of New York. The case is in discovery now, under a magistrate who has so far proved friendly to some of Ripple’s pointed requests—most notably the company’s bid to depose William Hinman, who was director of the SEC‘s Corporate Finance Division during the time the SEC was preparing to file suit. Ripple is arguing that Hinman had a serious conflict of interest, in that he was paid some $15 million while at the SEC by Simpson Thacher, a law firm that has ties to the Ether cryptocurrency; in 2018 Hinman gave an official speech declaring the SEC wouldn’t consider Ether to be a security, which helped drive the cryptocurrency to an all-time high. He left the SEC to join Simpson Thacher just weeks before the SEC filed suit against Ripple. Ripple has also cast an unflattering spotlight on former SEC Chairman Jay Clayton, who had himself in 2018 publicly stated that Bitcoin wouldn’t be considered a security, only to later join a hedge fund that had taken a large position in Bitcoin just before the Ripple suit was filed on Clayton’s last day in office. Meanwhile, the magistrate denied the SEC’s request to pull in eight years’ worth of the Ripple executives’ personal finance records. Whatever the ultimate court decision or settlement, the outcome is certain to impact the cryptocurrency world. The case is already turning up pressure on both the SEC and Congress to clarify the law and regulation governing cryptocurrency, particularly in terms of when a cryptocurrency is or isn’t a security. “We keep trying to shoehorn cryptocurrency into preexisting regulatory processes, when it’s abundantly clear it doesn’t fit well,” said Goforth. “We’re long overdue in fixing it.” The fixes are doubtless coming, but it remains to be seen whether any of them will happen in time to help Ripple and the XRP investors.
Loaned to Karura (Defi in the polkatdot ecosystem). For each KSM you got 22 KAR. Also loaned to Robonomics (XRT) who had an awesome reward. Normally you only get rewards if the project gets a parachain. But Robonomics decided that even if they don't win a parachain slot in the first 5 auctions (which they won't) you still get a reward (3.5 XRT per KSM). Bonus: XRT is already listed at 12 USD.
And that is why I'm supporting XRT on the Kusama parachain auctions! The project is amazing.
I'm supporting XRT just like I did for 2nd round!
Polkaswap is one I own . I also like XRT , but their will be lots getting on Kusama. Going to be interesting to watch this unfold.
Three suggestions that are all undervalued: Unibright (UBT), Robonomics (XRT) and Pluton (PLU).
The only thing I sold was my XRT a few weeks ago to go into ADA/LTC/XLM. Best move ever. I don't ever want to sell anything for a while and keep on accumulating!
ETH and XRT just holding hands on their way up. Cute couple.
MATIC is probably the most undervalued coin. It has more transactions per day than ETH. XRT is another one that I believe is about to moon.
Got a funny feeling and put a bit into XRT last night. Chart looked like it was poised for takeoff.
This is only a temporary ATH. MATIC's future is unknown. ETH is all but guaranteed to go up. I did the same thing, swapped MATIC for ETH and a little XRT.
I finally successfully transferred eth into kucoin from my coinbase wallet. I didnt spend much, I'm more of an ape, but I'm excited. I have ETH, MANA, and I guess I want XRT and THETA. Sigh. Maybe that crappy dog, too
Lukso (LYXE), xToken (XTC) and Robonomics (XRT)
Any advice for XRT, I’m very new to crypto but bought last night at €0.90, I’m hoping it will go up
Ahahah RugProof , NO WHALE AHAHAHAHAHAH .Worst website in history. God shit damn there's a new bsc shitcoin sprouting every 5m in this sub. What happened to the likes of Crust, XRT, VRA, TRAC, etc??? Now it's all about safeshit , dogshit, pumpkinshit on BsC. . I'm not very communicative here, at all, but I did made quite some bucks with Crust network and I saw it here, same with Robonomics , but these days might be better just to shut it off, this is becoming a sub for people to dump their overbought bags
Anything Polkadot is a good bet. It's got a very strong network effect going at this point, and a massive developer community. My money is on projects under that umbrella like Kusama (KSM), Phala (PHA), LIT, XRT.