The post Ripple Signs Over 1,700 NDAs with Financial Giants appeared on BitcoinEthereumNews.com.

Ripple signed 1,700 NDAs with financial institutions, facilitating XRP transfers to contractual counterparties in various commercial transactions. XRP has bucked the trend to start the new week with a 4% gain, while Bitcoin and Ethereum dipped over 2.5% each as the markets soured. Ripple has been working with hundreds of financial institutions globally to advance XRP adoption in the payments space. Over the weekend, the XRP Army dug up court transcripts from the recently concluded lawsuit against the SEC, which revealed that the company had signed over 1,700 NDAs with these institutions. BOOOOOOOOOOOOOOOOOOM!!!! Over 1700 NDA’s between @Ripple and MAJOR banks, financial institutions, and companies! #XRP is going to be the most valuable asset in the world because it will bridge value globally! 👑 pic.twitter.com/xA2thWZ9TJ — JackTheRippler ©️ (@RippleXrpie) August 18, 2024 The 1,700 NDAs came up in the Southern District of New York when Professor Alan Schwartz took to the stand to offer his expert testimony as Ripple as it squared off against the securities watchdog. Schwartz, who is a Professor of Law at Yale Law School, analyzed the 1,700 contracts to summarize them for the court. The contracts were signed by the company between 2013 and 2020. Ripple argued that the contracts proved “that neither XRP nor Ripple’s contracts transferring XRP are investment contracts within the meaning of the Securities Act of 1933.” It added: They also help establish that, under Howey, Defendants did not offer or sell XRP as part of any common enterprise; that Ripple did not agree to any relevant post-contractual obligations to recipients of XRP; and that no recipient of XRP had—and as a matter of law could not have had—any reasonable expectation that Ripple would engage in efforts to generate profits for the recipients of XRP or to increase the market price of…

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Filed under: News - @ August 20, 2024 1:26 am