Ripple XRP Sales Double In Q1 As Lawsuit Continues – May 7

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $56,708

Bitcoin price is sitting in the mid $56,000s to begin Friday, after failing to break below $55,000 on multiple attempts.

Top-20 altcoins have had very mixed results, as Ethereum falls 2%, XRP drops 5%, but Ethereum Classic jumps 33% over the last 24 hours.

Top Stories for May 7, 2021 πŸ”₯

πŸ‘‰ Ripple XRP Sales Double In Q1 As Lawsuit Continues

Ripple’s sales of its XRP token have risen by 100% in Q1 of this year, despite the continuation of its court case vs the Securities Exchange Commission (SEC).

Total XRP sales directly from the company measured at $150 million for the year in the first quarter, almost double that of Q4 in 2020.

The SEC alleges that the company illegally raised more than $1.3 billion via an unregistered securities offering.

πŸ‘‰ Goldman Sachs Offers Bitcoin Derivatives To Clients

Goldman Sachs has been revealed to be offering investors Bitcoin derivatives in the form of non-deliverable forwards (NDFs).

The cash-settled instrument provides investors access to Bitcoin exposure without having to take delivery of physical Bitcoin, however Goldman protect themselves from volatility using Bitcoin futures.

πŸ‘‰ Square’s Earnings Beat Expectations, While Bitcoin Revenue Soars

Financial services company Square has more than doubled its earnings expectations for the first quarter, at 41 cents per share instead of the expected 16 cents per share.

Square’s revenue from Bitcoin increased a considerable 1,000% in 12 months, contributing $3.5 billion alone out of the company’s total revenue of $5.1 billion.