Now that pro-crypto Donald Trump is the president-elect, he has vowed to fire Gary Gensler, the SEC chair, amidst a pledge to make the US the number one country for crypto.
This is great news for XRP in their legal battle with the SEC and for the whole of crypto, including Cutoshi and Sui, which are pumping due to the election results.
The SEC Vs Ripple – The Final Chapter?
Ripple Labs are surely happy with the US presidential results, due to the seemingly never-ending battle between the SEC and XRP. Even when the judges have ruled in XRP’s favor, the SEC has appealed, time and time again, insisting that XRP, among many other cryptos, are a security.
The SEC argued that Ripple’s sales of XRP were essentially an investment contract, meaning buyers were expecting to profit from Ripple’s efforts. But this view is contentious and has been contested by many, such as U.S. District Judge Analisa Torres, who previously ruled in Ripple’s favor.
Although Ripple’s case is still ongoing, it looks as though the outcome will be very different under Trump’s administration, and this has sent the price of XRP up by 30% in the past week, at the time of writing, from $0.55 to $0.71. If Ripple can finally score a win XRP is very likely to moon even further.
Sui Pumps Thanks To Trump
XRP isn’t the only one to benefit from Trump’s win; in fact, almost all of crypto is including SUI pumping. One of the big winners has been Ethereum, which, like Ripple, is now free from being branded as a security. And following this are other Layer 1 blockchains like Sui.
Sui, which was initially created by the team behind Facebook aka Meta, could see a lot more development now that the regulatory path is more clear. And indeed, SUI is up by almost 30% since the election results, after breaking out from the strong resistance level of $3.20 on November 13th.
In other news, the Telegram app MemeFi (similar to Notcoin and Hamster Kombat) is the first to partner with SUI, and aims to make Telegram easier to use as a meme coin platform.
Sui is now changing hands at $3.30, having seen highs of $3.50 on November 14th before a broader market retracement.
Cutoshi’s Community Goes Questing
Cutoshi, a memeFi project, combines the fun and cuteness of the Chinese Lucky Cat in a meme, but is part of a larger DeFi ecosystem.
The Cutoshi team believes strongly in the principles of Satoshi Nakamoto, seeing that it’s their mission to help bring financial freedom and autonomy to retail investors. And the plan is to do that by making DeFi more fun and accessible.
Cutoshi is building a Decentralized Exchange as the core of its ecosystem. The Cutoshi DEX will be cross-chain and offer P2P trading. There will also be a learning academy to teach people exactly how to make the most out of DeFi and Web3.
The most recent news is that Cutoshi went live with their token farming a couple of days ago, offering quests through Zealy. Over 1500 people have taken part in the quests so far which include following on social media, interacting with the community, and making memes.
These quests gain participants XP, which will be exchanged for CUTO tokens when the project completes the presale. This move encourages wide participation in the Cutoshi ecosystem and allows anyone to get involved regardless of their economic status.
Cutoshi, which is still very new, recently sold out of the second presale stage, having raised over $850k. $CUTO is now on offer at $0.0259, and with more stages to come, the price is set to keep rising.
For more information on the Cutoshi (CUTO) Presale:
https://cutoshi.com/
Join and become a community member:
https://twitter.com/CutoshiToken
https://t.me/cutoshi
This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article
Source: https://bravenewcoin.com/insights/ripple-xrp-news-trumps-victory-a-vital-moment-for-xrps-case-sui-holds-strong-at-3-as-new-altcoin-opens-its-token-farming