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Massive 50,000 XRP Giveaway Launched by Uphold

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Thu, 16/11/2023 - 15:40
Massive 50,000 XRP Giveaway Launched by Uphold
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Major Web3 financial platform Uphold has announced on its X account that it is giving away a massive 50,000 XRP as part of its November sweepstakes to one winner.

This offer only works for registered U.S.-based users of Uphold (except residents of the U.S. Virgin Islands, New York and Florida). With every $20 worth of trades on the platform, a participant gets one entry into the drawing. The amount of entries is unlimited, so by entering more times, traders increase their chances of winning the 50,000.

Employees of Uphold or any of its affiliates are not eligible to take part in the November sweepstakes, according to the rules of the drawing.

Ripple and Uphold strike collaboration

At the end of October, Ripple fintech giant and Uphold joined forces in a partnership to put together Uphold's large crypto liquidity resources and Ripple's extensive infrastructure for conducting international payments. Ripple Payments, which used to be known as On-Demand Liquidity (ODL), now cover more than 70 countries around the world.

Uphold offers its users transactions between fiat and cryptocurrencies and is connected to multiple global providers of liquidity.

It is important to note here that Uphold has been offering stable support to XRP, while many other large and small crypto exchanges chose to suspend trading operations with the Ripple-affiliated token. Thus, for the XRP community, Uphold has a great reputation.

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Ripple's big win over SEC

In the summer, Federal Judge Analisa Torres ruled that programmatic sales of XRP tokens made by Ripple on secondary markets do not qualify as security sales. That was a massive win for Ripple and the XRP community over the SEC and pushed the XRP price up to the $0.7 high.

This caused major exchanges to begin relisting XRP. Among them was the largest U.S.-based crypto platform, Coinbase. As reported by U.Today, earlier this week, major crypto trading venue CEX.IO chose to relist XRP as well.

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