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Ripple CTO Names Deadline for Lawsuit Ruling, 'Rich Dad' Author Gives BTC New Prediction, Bank of England Head Slams Bitcoin: Crypto News Digest by U.Today

Wed, 07/12/2023 - 14:52
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Valeria Blokhina
Take a closer look at what's happening in the world of crypto with U.Today's news digest!
Ripple CTO Names Deadline for Lawsuit Ruling, 'Rich Dad' Author Gives BTC New Prediction, Bank of England Head Slams Bitcoin: Crypto News Digest by U.Today
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Here are the top three news stories presented to you by U.Today.

Ripple CTO names crucial deadline for lawsuit ruling

David Schwartz, chief technical officer at Ripple, has recently entered a discussion on the deadline for the Ripple ruling started by attorney John Deaton. In Schwartz's opinion, there is not anything "wrong, unusual, or strange" in the lack of decision from Judge Torres "until at least the end of September." The same idea was shared by Deaton, as he took to Twitter to outline historical timelines of Judge Torres' rulings on similar cases. For example, in the N.Y. District Carpenter's fund case, her summary judgment ruling took over eight months. However, if Judge Torres extends her decision in the Ripple case beyond Sept. 31, which would become a precedent, as none of the cases she presided over have extended beyond nine months from the filing of reply briefs.

"Rich Dad" author gives new Bitcoin (BTC) mega prediction

In a recent tweet, Robert Kiyosaki, vocal Bitcoin advocate and author of the world-famous book  "Rich Dad Poor Dad," has set a completely new price goal for the flagship crypto. He first mentioned the latest move by members of the BRICS alliance to adopt the gold standard, adding that the BRICS nations will likely announce a gold-backed crypto next month. This, writes Kiyosaki, could result in the "death" of the U.S. dollar (USD) and trillions of USD "rushing home." The "Rich Dad Poor Dad" author then advised his followers, in his usual manner, to buy gold and silver as a way to protect themselves from the inflation that is set to skyrocket in the coming months. At the end of his tweet, Kiyosaki wrote that Bitcoin is poised to touch the $120,000 price level by next year.

Legendary Trader John Bollinger Says Bitcoin (BTC) Getting Squeezed

Bank of England head slams Bitcoin

During a recent speech at the Mansion House in London, Andrew Bailey, Governor of the Bank of England (BoE), criticized Bitcoin and similar cryptocurrencies, calling them "extremely speculative assets." He also emphasized his firm belief that traditional cash is here to stay despite the rise of digital currencies. Apart from criticizing cryptocurrencies, Bailey also took aim at stablecoins, describing them as "not robust" and failing to "meet standards of safe money." Stablecoins have been becoming more popular as their goal is to bring stability to the wildly fluctuating cryptocurrency market. However, Bailey's statements reflect a lack of trust in these digital assets as reliable or safe forms of currency.

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About the author

Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.