TV Personality Coming to Work for Ripple
The Market Showing Reaction to the SEC Announcement
Bloomberg Television’s Cory Johnson confirmed that he left his network this week and started working for Ripple on Thursday.
In a Tweet, the Ripple’s CEO Brad Garlinghouse said “Cory has seen it all – from the dot-com bubble through the crypto wild west, no one is more qualified to analyze the impact and role of $XRP, crypto and blockchain within the markets at large as the #InternetofValue is actualized.”
This blockchain company oversees the $32 billion Ripple network also stated that the market has demonstrated an outsized reaction to the announcement of the US Securities and Exchange Commission (SEC).
Corydon Johnson was born 1966 and is an American journalist. He is the founding editor-in-chief of the hip-hop basketball magazine SLAM. He later became an editor of Vibe magazine before helping found TheStreet.com as a reporter and eventual West Coast bureau chief. He was the Silicon Valley correspondent for CNBC business news and co-hosted Bloomberg West with Emily Chang where they discuss the tech sector. Johnson also covers Internet companies, social media, cloud computing, and various other developments in technology, media, and entertainment. Prior to working for Bloomberg in October 2010, Johnson was a hedge fund manager and private investor. He worked for Kingsford Capital Management and also as an analyst for Cannell Capital LLC, where he focused his efforts on value investing, short selling, forensic accounting, and covered equities in technology, industrials, oil and gas, and other sectors. Johnson is also a member of Investigative Reporters and Editors.
SEC: Exchanges are Required to Register
The SEC wrote in a public statement entitled ‘Statement on Potentially Unlawful Online Platforms for Trading Digital Assets’:
“If a platform offers trading of digital assets that are securities and operates as an ‘exchange,’ as defined by the federal securities laws, then the platform must register with the SEC as a national securities exchange or be exempt from registration.”
Ripple Changing Domestic and Cross-Border Payments
Another thing happened. As confirmed by the Ripple officials, The Japan Bank Consortium will release a groundbreaking smartphone application called ‘MoneyTap’, powered by Ripple’s blockchain technology, to allow customers of the bank consortium to settle transactions instantly, 24 hours a day, seven days a week.
MoneyTap is the first mobile app of its kind to be developed and used by multiple, different banks in the country.
Ripple started this year in pretty frenzy matter. In February they signed a deal with UAE Exchange, and went into the Chinese online shopping market. They didn’t stop at that but they’ve reported that next in line is a global payments giant Western Union who are, allegedly, testing driving Ripple’s transfer technology.
Remember, Ripple has two main payment products for banks: xCurrent and xRapid. Only xRapid utilizes Ripple’s XRP token.
“We’ve been testing different products with Western Union for a while,” a Ripple spokesperson said He also added that they are excited about their work towards a pilot implementation of xRapid, which uses XRP in payment flows.
This week was also intense for Ripple because of the rumors hat it’s being added to Coinbase. This U.S. cryptocurrency exchange , however, did deny those rumors but still, it rocketed Ripple’s XRP token to its existing trading pairs.