Ripple’s use of tokenization will be of major benefit to its network and native token. Tokenization will be in demand for its ability to track asset ownership using Blockchain technology.

$1 trillion is the value tokenization it is expected to hit in 2024. That value is expected to surge to $10 trillion by 2028.

Tokenization still has some barriers to demolish. Adoption is slow, but demand across big financial top-dogs is increasing.



Ripple’s XRP Lenger (XRPL) was the first blockchain to aid tokenization for a large number of assets. These assets include stablecoins, NFT tokens, and other cryptocurrencies like Bitcoin and Ethereum. The USD, Euros, gold, and even stocks can be tokenized, thanks to XRPL.

Although it is happening at a slower pace, XRPL is noting some big achievements on the Blockchain network. In a report recently published by Ripple, it was noted that on-chain activity on the XRPL platform was buoyant.

Tokenizing any asset on the #XRPL is easy as pie!🥧 All you need is a few lines of code, or a web interface that walks you through the process step-by-step.

Check out this video to review the basics. https://t.co/PJoKqp4YCG pic.twitter.com/Hhjb5zLE4j

— RippleX (@RippleXDev) February 2, 2023

The amount of transactions on the platform have skyrocketed this year. The ledger now records over a whopping 3 million to 106 million transactions.

NFT transactions are also experiencing the same levels of growth. In the last quarter, new wallet uses totalling 228,000 were ushered into the ledger.

Ripple also reported that Ripple has so far made a $8.4 billion purchase since the SEC lawsuit began.

XRPL surely holds the keys to a massive price hike for XRP, should it succeed in the Crypto market.

SEC vs Ripple; case so far

Meanwhile, the ongoing SEC vs Ripple case is entering a crucial period. The verdict of the case is expected to influence the price and performance of XRP, either in a positive or a negative manner.

The motions for summary judgment have already been briefed last year. All that is left for the case’s conclusion is a judge’s ruling, which the public awaits.



There’s no specific date for when the case will eventually come to a close. But the CEO of Ripple, Brad Garlinghouse, insists that there will be an update within the first three months of 2023.

On the other hand, attention can be given to XRP’s price movement. XRP does not seem to be holding up too well at press time. XRP spiked by 1.14% in the last 24 hrs. But XRP’s losses outweigh the gains at the moment. XRPA’s price is now $0.415.

Der Beitrag Ripple XRP price to go 10x after win over SEC and this future tech billion-$-market of tokenization – Report erschien zuerst auf Crypto News Flash.

Ripple, the developers of the XRP Ledger (XRP) blockchain, continues to explore the possibilities that Central Bank Digital Currency (CBDC) can unlock for countries. As part of its University Blockchain Research Initiative (UBRI), Ripple has recently highlighted the challenges and strides that countries are making in CBDC adoption.



Darrell Duffie, an active UBRI participant, noted in a Ripple blog post that CBDCs are rapidly becoming a global phenomenon. The Stanford Graduate School of Business professor highlighted that more than 100 countries that represent 95% of the world’s GDP are working on a CBDC.

Duffie also pointed out that among large economies, the U.S. is currently the least advanced in developing a CBDC. This is due in part to the lack of government regulations and opposing positions held by factions of the government.

In contrast, China leads the pack in pushing forward with CBDC adoption. China has promoted its CBDC despite having top-notch digital and mobile payment solutions like Alipay and WeChat Pay. While the rest of the world — from Nigeria and the Bahamas that have launched CBDCs to those conducting pilots like India— is somewhere in-between.

The Adams Distinguished Professor of Management also notes that the major problem facing all countries is getting citizens to adopt CBDCs. Duffie shares that even China’s e-CNY has struggled to gain traction due to privacy concerns of its citizens.

Ripple and XRPL can remedy challenges faced by countries in deploying CBDCs

Despite the challenges facing CBDC adoption, Duffie still expects that countries will continue to build out their CBDCs. And that digital currencies will gain more adoption as their use cases are proven. According to him, the usefulness of CBDCs for domestic economic purposes and cross-border transactions will grow as adoption also increases.

“Irrespective of the U.S., the pace of CBDC development around the world will accelerate over the coming years, with more and more countries moving into active pilots or tests,” Duffie said.

However, to get to this stage, governments must realize that will require a lot of work. They would need to educate as well as incentivize citizens on the benefits of CBDCs, Duffie asserts. Public blockchain ecosystems like Ripple with CBDC capabilities also have a role to play in citizens education.



Similarly, governments and all stakeholders need to actively work to boost payment systems competition and innovation. These could include government standardizing apps through which banks offer CBDC payments or capping interchange fees.

Notably, Ripple already offers a broad suite of solutions that central banks can use to deploy their CBDC efficiently. The fintech company already has the government of Bhutan on its roster of clients and expects more to follow.

Der Beitrag Can Ripple (XRP) serve CBDCs for billions of people worldwide? Experts take and future outlook erschien zuerst auf Crypto News Flash.

A recent update from an XRPL Labs lead developer, Wietse Wind, discloses the development of a Hooks sidechain with XRP as the native token.

Wietse Wind, in response to a user request, made it known that XRPL Labs have signed a security contract last week. According to Wind, developers will push out the sidechain after the audit, adding any modifications made in response to the audit.

We're actually going to do this. Security audit contract signed last week.

After the audit (and potential improvements based on the results) there will be a side chain.

With XRP as the native asset. https://t.co/l6pPGyIz8l

— WietseWind – 🛠 XUMM @ XRPL Labs (@WietseWind) January 30, 2023

Wind further expressed confidence in Hooks. Claiming that the sidechain will be ready for practical use cases before it goes live on the mainnet. Accordingly, he expressed hopes that the sidechain will pass its stress test, bolstering confidence for mainnet implementation.

For better understanding, Hooks is a proposal to add smart contract functionality to the XRP Ledger. The XRP ledger is known and appreciated for its transaction throughput, speed, and low fees — but lacks flexibility.

This realization was expressed in a team statement that: “We realized that, while the XRP ledger already has a lot to offer, developers and businesses need a lot of flexibility. Allowing them to not only build what is possible today, but to build what they can imagine tomorrow.” Hence, Hooks.

Hooks or Transaction Hooks are small, efficient pieces of code. They are defined on an XRPL account, allowing logic to be executed before and/or after XRPL transactions. These hooks can be really simple, like: “reject payments < 10 XRP”, or “for all outgoing payments, send 10% to my savings account” or more advanced.

Wind states that Hooks has been in development for more than two years. However, validators cannot vote on it at this time — indicating that mainnet deployment is still a ways off.

According to information published in July of last year, developers introduced Hooks Builder, a web browser-based development environment that enables users to create XRPL smart contracts and deploy them on the Hooks testnet.

Developers are also developing a sidechain for the XRP Ledger that is compatible with the Ethereum Virtual Machine (EVM) concurrently. Significantly, testing is already in progress. It will provide XRP Ledger access to Ethereum smart contracts.

Will Hook drive the XRP price up?

Hook introduces a high-level simplicity to the XRP Ledger. Businesses and developers have a wide range of flexibility with the integration of smart contract functionalities.

With Hook, businesses and developers can allow auto-saving on incoming transactions, use “Lite Accounts” without account reserves, track loyalty points for customers, automatically park VAT, etc.

The added functionality will drive more integrations by an existing business on XRPL and adoption by intending developers. It will also increase the utility of XRP.

Since the market value for cryptocurrency projects is driven by utility, the potential increased utility Hooks adds to XRP could drive its price up.

Der Beitrag Ripple: XRPL Hooks ready as sidechain with XRP to be native currency for real-life applications – Can it drive price back up? erschien zuerst auf Crypto News Flash.

With the likelihood of the ongoing legal brawl between blockchain payments firm Ripple Labs Inc and the United States Securities and Exchange Commission (SEC) coming to an end in a short time, there has been a lot of speculation on what the future holds for the price of XRP. 

There has been quite a number of speculations as to what the outcome of the case will be. There are observers who believe Ripple would have settled the case out of court but the regulator is unwilling to declare that XRP is not a security. The Brad Garlinghouse-led company is treading on a very cautious path as any form of settlement without legally defining the status of the XRP coin can stir up another lawsuit sometime in the future.

The recent victory of the SEC over LBRY, a protocol that says it is doing to publishing what Bitcoin does to money, has given the regulator a bigger impetus to believe it can tap a good victory over Ripple.

Ripple remains convinced that it will beat the SEC with over 3,000 Amicus Briefs showing the usage of XRP is limited to payment utility.

Future of XRP price

XRP coin is currently changing hands at $0.4219, up by 8.89 percent over the trailing 7-day period. The ongoing lawsuit has greatly impacted the price of digital currency which plunged to its lowest price point of $0.2906 in the past 52 weeks. 

One of the first bearish pulldowns for XRP was the fact that top trading platforms including Coinbase delisted the digital currency for trading on their brokerage, further contributing to the Fear, Uncertainty, and Doubts (FUD) that engulfed the asset in the first few months of the lawsuit.

With the current realities and the potential of Ripple beating the SEC, many are optimistic the price of the asset can soar into the thousands in the next few years. While there are more conservative price predictions ranging from $5 to $10, the community is riled up that the end to the lawsuit will stir more exchange relisting, and XRP can finally take its rightful position amongst the high-priced cryptocurrencies.

The potential for the XRP price to grow will not only be fueled by the fundamentals bothering on the end of the ongoing legal brawl, but also by the technical impact of the embrace of the XRPLedger.

Checks feature on XRPLedger

Ripple is branded as a payment systems platform that is serving users around the world to foster cross-border financial settlement. In fulfilling its core plans, Ripple is integrating new features on the XRPLedger, the platform where its payment transactions are being facilitated.

One core feature that just went live on the XRPLedger is the revamped Checks Feature, an amendment that went live without the approval of the Ripple firm. The Checks feature is not entirely new but this new feature enables the sender to issue a check for a specified amount, while the recipient can redeem the check to receive the specified amount.

Der Beitrag XRP price ‘in the thousands’ after Ripple vs. SEC case is settled – “Checks-Feature” goes live in decentralized ecosystem erschien zuerst auf Crypto News Flash.

Ripple CEO Brad Garlinghouse has made a remarkable revelation about XRP’s growth. In a recent interview with CNBC, Brad Garlinghouse disclosed that XRP is now processing over half of the network’s transactions.

The growth is reflective of XRP’s development and adoption over the years, mainly because transactions processed on XRP in previous times were significantly lesser in number.

Over half the transaction volume now runs through XRP.#xrp #ripple pic.twitter.com/QtWC3GSYPt

— Nathan Price (@Nate855) January 18, 2023

We’re now processing billions of dollars of transactions every quarter, and we’ll over half of the total transaction volume, because we do have a fiat and XRP enabled products goal on-demand liquidity, over half of all our transactions go through XRP now. That has grown.

Garlinghouse also added that Ripple has also seen an upsurge in the number of contracts and customers using its network. The growth, as he explains, can be tied to the launching of more quarters and more currency fares, which has enabled Ripple to build visibility and trust in the market.

Addressing the effects of the SEC lawsuit filed against Ripple in late 2020, the CEO also told CNBC that he was uncertain how new and existing customers would react to the lawsuit.

After the SEC deemed Ripple a security, Ripple’s U.S. customer base has expressed confusion about Ripple and its future.

However, it appears that interest in Ripple from non-U.S. investors has increased greatly since the filing of the lawsuit. The CEO explains that in the last two years, 95 percent of customers that have been signed to Ripple are from outside the United States.

The demand from Ripple in foreign countries has led the CEO to consider relocating to London. In 2020, Brad Garlinghouse disclosed that depending on the outcome of the ongoing lawsuit, Ripple might move activities to the United Kingdom, as it presents a better climate for both the Ripple network and XRP.

Can XRP’s transaction growth influence send prices to $1?

At this time, there is no data indicating that the growth in increased transactions is in any way affecting XRP’s price.

It is important to keep in mind that supply might presently be outstripping demand, which might result in restriction of price action. Additionally, as supply reduces and demand for XRP rises, prices are primed to take off, and XRP is still poised to benefit, as a utility for Ripple could stimulate prices.

Meanwhile, Brad Garlinghouse is expressing optimism for cryptocurrency after the World Economic Forum commenced in Davos. He points to a healthy change in how cryptocurrencies showed up to the summit this year, as more focus is now being placed on utility.

My take on Davos 2023 – I honestly think it’s healthy seeing the change in how crypto showed up this year. Folks are focusing on utility and how these technologies solve real problems — the only way the industry will move forward. Great to catch up @ArjunKharpal, @CNBCJou! https://t.co/sns4PX5q3O

— Brad Garlinghouse (@bgarlinghouse) January 18, 2023

The Ripple boss who also made an appearance at Davos, spoke on Ripple’s ongoing lawsuit with the SEC, expressing certainty that the lawsuit will be resolved in the first half of 2023.

Der Beitrag Over 50% of Ripple’s total billion-$-transaction volume runs now on XRP – Can it drive the price to $1? erschien zuerst auf Crypto News Flash.

The US Securities and Exchange Commission filed a lawsuit against Ripple Labs in 2020 for selling XRP without registering it as a security. The claim has been strongly contested by Ripple, stating XRP should not be considered an investment contract. According to their position, the token was created to facilitate cross-border transactions between banks and other financial institutions. 

The case is finally edging to an end with Ripple and SEC submitting final rounds of briefs in a bid to secure a summary judgment of the case. This has been confirmed by U.S. defense lawyer James K. Filan, who in his latest tweet informed his followers that “everything is briefed” in the lawsuit as of January 19, 2023.

This simply means that both parties involved in the case have made filings including motions to seal all necessary materials that have to do with the summary judgment motions. It is reported that Judge Analisa Torres is currently reviewing the materials to come up with a final ruling. 

The XRP community has shown a massive interest in the case since 2020 and has constantly been updated by Filan who received commendations from Attorney Jeremy Hogan, a partner at Hogan & Hogan law firm for his effort. Filan has also provided the community with the scheduling update of the lawsuit. According to XRP community attorney John Deaton, this is the best update ever. 

The best update ever https://t.co/DhpE2lJykz

— John E Deaton (@JohnEDeaton1) January 20, 2023

Attorney Jeremy Hogan thinks the SEC and Ripple lawsuit is quite complicated

Recently, Filan predicted that the judge could decide on both the expert motions and summary judgment on or before March 2023.

I am sticking to my prediction that District Judge Torres will decide both the Expert Motions and the Summary Judgment motions at the same time – on or before March 31, 2023.

Attorney Jeremy Hogan, however, believes that the case is more complicated than how people think. According to him, the judge can decide on any piece of the suit at any time. Also, he expects that a judgment could take a while for people to figure out whether it was a win for Ripple or not.

Ripple CEO Brad Garlinghouse has also confirmed that the ruling may likely come out in the first half of the year. 

The case is now fully briefed in front of the judge […] We are optimistic that this will certainly be resolved in 2023, maybe the first half. We’ll see how it plays out from here, but I feel very good about where we are relative to the law and the facts.

At an event organized by the Practising Law Institute, SEC chair Gary Gensler stated that the vast majority of cryptos are securities. According to Garlinghouse, this claim leaves very little space for settlement. The Ripple CEO has repeatedly stated that the outcome of the case will mean a lot to the entire crypto industry. He believes that crypto is still thriving outside the US. For this reason, it is important to engage non-US regulators as well.

The case could have a significant impact on the XRP price. Any victory for Ripple Labs could send the price to $1 as exchanges may relist the asset for a wider audience.

Der Beitrag Ripple is all set and ready to win the SEC case – XRP to hit $1 at this date erschien zuerst auf Crypto News Flash.

Ripple’s long-going battle with the U.S. Securities and Exchange Commission (SEC) has taken several turns and has now entered its third year. San Francisco-based blockchain startup Ripple continues to defend its position strongly of not violating any securities laws as claimed by the SEC.

Speaking recently at the World Economic Forum 2023 held in Davos, Switzerland, Ripple CEO Brad Garlinghouse said that he expects the resolution of this case by the first half of 2023. Besides, he also noted that he’s confident of the outcome considering Ripple’s current position in the case.

However, Ripple’s CEO made his stand clear that there would be no settlement from their side and it would exist only if the SEC admits that XRP is not a security. In his interview with CNBC, Garlinghouse noted:

The case is now fully briefed in front of the judge […] We are optimistic that this will certainly be resolved in 2023, maybe the first half. We’ll see how it plays out from here, but I feel very good about where we are relative to the law and the facts. 

Ripple’s settlement with the SEC is tough

Garlinghouse added that Ripple would be keen to settle the case, but not on SEC’s terms. On the other hand, since the SEC is reluctant to give up its stand, the Ripple CEO expects that a settlement won’t happen. “We have always said that we would love to settle, but it requires one very important thing, and that is that, on a go-forward basis, it’s clear that XRP is not a security,” he added.

Besides, Garlinghouse also said that the entire crypto industry is watching this case very closely. “I’m very optimistic and I think, absent some significant change in posture from the SEC, I can’t imagine that we won’t have a resolution from the judge, … I have heard in Davos repeatedly how important it is  (SEC, Ripple lawsuit) for the whole crypto industry in the United states,” he said.

Furthermore, Garlinghouse stressed how important can Hinman documents become to the entire case. Attorney John Deaton who has been following the Ripple case believes that documents might force SEC to settle the case with Ripple. Garlinghouse believes that if the Hinman emails are released to the public, it could lead to explosive revelations to the crypto community.

Besides, Attorney John Deaton also supports Garlinghouse’s statement that the litigation won’t end in a settlement while also putting up his predictions for the year.

I know when I predicted no settlement BEFORE a Judge Torres decision some people disagreed. In @bgarlinghouse’s words, he can’t imagine “absent a significant change in the SEC’s posture toward settlement, not receiving a ruling from Judge Torres.” https://t.co/ANA9uKAkVY

— John E Deaton (@JohnEDeaton1) January 18, 2023

Last December, Deaton conducted a poll asking XRP investors for their views on the litigation. A staggering 59 percent of the respondents said that it will end in settlement.

Der Beitrag Big for Ripple: Brad Garlinghouse gets huge support at WEF to find settlement with SEC – The future of crypto looks bright erschien zuerst auf Crypto News Flash.

Attorney John Deaton, the founder of CryptoLaw, has revealed the condition he thinks will speed up a settlement between Ripple and the SEC.

The XRP Ledger blockchain enthusiast stated in a tweet that if there is a settlement, it would include an agreement to not disclose any documents received during the litigation of the case.

If there is a settlement it would include an agreement to not disclose any documents received during the litigation of the case. But Ripple isn’t going to be the only company that seeks disclosure of those documents. Other defendants sued by the SEC will, FOIA litigation, etc.

— John E Deaton (@JohnEDeaton1) January 13, 2023

However, he adds that such a settlement would not end the public’s pursuit to know the contents of the documents. The documents may still get unsealed by other defendants the SEC will face, as well as FOIA litigations. He said.

If there is a settlement it would include an agreement to not disclose any documents received during the litigation of the case. But Ripple isn’t going to be the only company that seeks disclosure of those documents. Other defendants sued by the SEC will, FOIA litigation, etc,

Deaton was responding to a community member’s inquiry as to whether there is any chance that Judge Analisa Torres would rule on the Ripple and SEC’s sealing disputes soon. Particularly, the question highlighted the Bill Hinman email documents.

The SEC is seeking to seal the documents from the public as part of settlement conditions. However, Ripple argues that the documents are central to summary judgment and should be made public. Per the community member, the judge’s ruling could jumpstart a potential settlement.

Deaton’s take on the matter came after both Ripple and the SEC filed redacted motions to exclude certain expert witnesses from their motions to unseal. Ripple’s motion seeks to exclude the SEC’s expert 2 and accompanying exhibits from the public docket. Meanwhile, the SEC’s motion was for an omnibus exclusion of Ripple expert witnesses.

Ripple and SEC case closure still expected in H1 2023?

Deaton has previously opined that he is not expecting Ripple and the SEC to reach any kind of settlement, especially not because of the Hinman emails. The attorney explained in a Twitter thread that there is only one likely basis on which SEC chair Gary Gensler would push for a settlement.

This is if it becomes apparent the case will swing completely in Ripple’s favor as that would set a bad precedent for the regulator. Ripple will also not agree to a settlement except the SEC concedes that its XRP token is not a security. Based on this, Deaton is expecting the case to go to verdict and close through a decision from Judge Torres.

Ripple supporter attorney James Filan has predicted that this verdict could arrive within the first half of 2023. He projects that the presiding judge will announce her verdict on or before March 31.

Notably, both parties have already filed motions to proceed to summary judgment. The only disputes remaining in the case are the unsealing motions, as well as the Daubert motions to protect third parties.

Der Beitrag Ripple settlement with SEC very soon possible if judge grants this agreement – Will XRP price hit $1? erschien zuerst auf Crypto News Flash.

Ripple and Solana are teaming up with others to accelerate the use of crypto-based solutions for climate change. The two blockchain titans joined a newly founded non-profit organization, called Blockchain x Climate Leadership Network (BxC).

Coindesk, which is also a member of the initiative, reports that BxC’s launch was announced at a GBBC’s event during the 2023 annual meeting of the World Economic Forum held in Davos, Switzerland.

The initiative also includes Eqo Networks, industry group Global Blockchain Business Council (GBBC), and blockchain-climate collective BxCi as members. The non-profit says that it intends to use crypto to support climate change mitigation efforts. The use will largely revolve around creating new economies that do not harm the environment.

The collective also wants to attract more attention to blockchain projects that have real-world applications and social benefits. This is because this makes more sense than using crypto just for speculative purposes.

I think the climate use case makes the most sense in terms of real-world utility beyond, let’s say, speculative retail involvement,

Daniel Hwang, strategic adviser to BxC said during an interview.

BxC has been gearing up for launch since 2022 when it was conceived in Greenland by its founding members the Solana Foundation and Ripple. The two were joined by environmentally-oriented layer 1 blockchain Regen Network and association Climate Collective as supporting partners.

Meanwhile, Eqo Networks, which specializes in creating such climate-minded leadership networks, and BxCi, formerly known as Blockchain Infrastructure Carbon Offset Working Group, and GBBC, lead the project’s initiatives.

BxC is already doing work to provide a supporting infrastructure ecosystem for the initiative. Led by Hwang, it is developing carbon credit measurements to help calculate the number of greenhouse gases generated by human activity. Hwang’s team has also held workshops and forums focused on education.

Ripple and Solana working to reduce blockchain technology’s climate impact

More broadly, BCX has also formed working groups that are currently active and will form the foundation of the non-profit. These include working groups on carbon market registries, standards and auditability, policy development, regenerative finance, and emerging markets in the global south.

Meanwhile, the initiative is not the first time Solana or Ripple have involved themselves in pioneering climate impact mitigation action. The Solana Foundation announced in 2021 that it would fund a refrigerant destruction initiative to reduce carbon emissions. At the time, it also noted that the proof-of-stake Solana blockchain had achieved carbon neutrality.

Similarly, Ripple committed to going carbon neutral by 2030 back in 2020. In 2022, the blockchain giant reiterated this commitment by voluntarily signing the Climate Pledge. It also pledged $100 million in funding to scale and strengthen carbon markets, the largest pledge of its kind in the crypto industry.

Der Beitrag Ripple partners with Solana to conquer billion-$-market and save climate for millions of people worldwirde erschien zuerst auf Crypto News Flash.

XRP Classic (XRPC), a clone of popular cryptocurrency XRP, has caught the attention of investors who may not know it is likely dubious. The token is the third most searched asset on the crypto market data aggregator CoinMarketCap.

Per CoinMarketCap data, XRPC is up 442.18% in the last 30 days. However, little is known about the token which has a contract that traces back to Binance’s BNB Chain. The project’s website states that its mission is to develop solutions that will make the crypto space safer.

The project’s roadmap is split into four phases with the final being the launch of its own blockchain. However, other items on the roadmap raise alarm bells that it is a likely scam. The roadmap says that it has a target of getting listed on top exchanges, reaching a market cap of $250 million, and having over 100k holders.

Similarly, despite its name, the project has nothing to do with Ripple’s XRP Ledger or its XRP token. There is also no contract on the XRP Ledger blockchain with a similar contract name to the project.

This would not be the first time that scammers have targeted Ripple and XRP. Back in December, Ripple chief technology officer David Schwartz warned the community of a phishing scam claiming to originate from Binance.

In the same month, lead developer of the XRP Ledger ecosystem and author of Xumm Wallet Wietse Wind warned the public about another scam targeting the XRP community. The scammers published a fake Ripple website offering an “autonomous XRP staking trial program.”

Crypto scams getting more rampant

Scams targeting Ripple and XRP are getting more common as the company nears the conclusion of its case with the SEC. The XRP community is anticipating a ruling from presiding judge Analisa Torres anytime in March, an event that could drive XRP to new highs.

Meanwhile, scams have also been on the increase across the entire crypto market. According to a report by cross-chain asset management protocol DeFi Yield, the crypto ecosystem lost close to $50 billion to scams in 2022. The figure represents an over $500% increase from losses recorded in 2021.




The biggest contributors to the losses include Terra Classic, Genesis, Celsius, FTX, and BlockFi. Terra’s collapse wiped out over $40 billion of investors’ funds and was the source of much of the market contagion that caused the crypto winter.

Losses from the exploits of smart contracts were also a threat in 2022. Meanwhile, the market was able to recover $901m from compromised projects, up from $648m last year.

Der Beitrag Ripple’s XRP clone surged by 400% – investment opportunity or scam? erschien zuerst auf Crypto News Flash.