Ripple’s win against SEC gets challenged, Worldcoin creates a buzz while the Litecoin halving just happened
Following July’s ruling in favour of Ripple Lab Inc. against the Securities Exchange Commission (SEC) that its XRP token is not a security, uncertainty looms over subsequent challenging of that ruling by a federal judge, rejecting the ruling. District Judge Jed Rakoff of the SDNY dealt a huge blow to the decision that had previously been made in the XRP case. Crypto enthusiasts will be on the lookout and follow developments of the new twist in the case.
Elsewhere, Litecoin halving happened this 2nd August, 2023. Litecoin is a forked version of Bitcoin and was launched in 2011. During the halving, the reward for successfully mining a new block is reduced by 50% (half). Before the first halving in August 2015, miners received 50 LTC per block; after the halving, they received 25 LTC per block. The second halving occurred in August 2019, reducing the reward from 25 LTC to 12.5 LTC per block, and moving forward, the miners’ reward will be 6.25 following the third halving.
Free but at what cost? In the last few days, Worldcoin has created a buzz globally. People around the world are getting their eyes scanned in exchange for free Worldcoin tokens. Worldcoin tokens are on Ethereum’s blockchain network. However, Worldcoin has been suspended in Kenya. Regulation and data protection concerns were raised. Though founded in the US, it will not be available for Americans.
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