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Brad Garlinghouse Praises Ripple’s Legal Team, Elon Musk Supports DOGE, Charles Hoskinson Takes Aim at Gemini: Crypto News Digest by U.Today

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Mon, 5/12/2022 - 14:22
Brad Garlinghouse Praises Ripple’s Legal Team, Elon Musk Supports DOGE, Charles Hoskinson Takes Aim at Gemini: Crypto News Digest by U.Today
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Let’s take a look at what happened in the crypto industry over the weekend with U.Today’s top four news stories.

Brad Garlinghouse сongratulates Ripple’s team for reaching point at which verdict may be on horizon

In response to Stuart Alderoty’s announcement about Ripple’s reply brief becoming public, the company’s CEO, Brad Garlinghouse, reaffirmed the opinion that he has been holding since the beginning of the case. Back when the lawsuit started, Garlinghouse stated that Ripple will fight aggressively with the SEC to roll out clear regulatory rules for the crypto space in the U.S. He also praised Ripple's legal team for reaching the current point of submitting the motion for summary judgment earlier this fall. Previously, U.Today reported that the fintech giant and the regulating agency filed motions for summary judgment back in September in an attempt to avoid going to a trial.

Elon Musk reaffirms support for Dogecoin, DOGE price rallies

During a recent discussion on Twitter Spaces, Tesla CEO Elon Musk reiterated his support for the original meme crypto, Dogecoin. When asked about the coin, Musk said “Dogecoin to the moon.” The centibillionaire then added that Twitter wanted to make it easier to transact with DOGE, which should be reassuring for token holders as Musk does not plan to abandon the meme coin just yet. All this had a positive effect on the meme coin’s price and made it grow by 5%, reaching the $0.104 level. At the moment of writing, DOGE’s value has increased by 3% more over the past 24 hours; it is now trading at $0.106.

Not listing Cardano (ADA) “tightly correlated” with bankruptcy, Charles Hoskinson says

Charles Hoskinson, founder of Cardano, has recently taken to Twitter to criticize the Gemini cryptocurrency exchange for not listing ADA. In his opinion, not adding Cardano’s native token at this point is “pretty tightly correlated” with bankruptcy risk. Perhaps Hoskinson hinted at FTX, the crypto exchange that went bankrupt last month, as it did not have any spot ADA pairs. As reported by U.Today, founder Sam Bankman-Fried tweeted that adding the token was on the exchange’s roadmap just a few weeks prior to its collapse. Notably, ADA was the only major cryptocurrency without a spot listing on FTX.

Related

Shiba Inu's BONE up 10% as price gains on positive news inflow

Shiba Inu’s governance token, BONE, saw its price spike by 12% on Sunday, Dec. 4, while most cryptocurrencies posted losses or even minimal gains. BONE is also up a whopping 36% over the past week amid positive sentiment from investors and the exchange listings it recorded in the past seven days. Per CoinMarketCap data, BONE currently ranks as the 146th largest cryptocurrency, with its market capitalization at $149,646,848. At the moment of writing, the token is changing hands at $0.9493, outperforming SHIB, which is changing hands at $0.000009624.

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