Ripple Announces a Special XRP Rewards Event to Show Appreciation for Its Community

This event is a way for Ripple to thank supporters who stood by the company during its long legal battle with the U.S. Securities and Exchange Commission (SEC).

The U.S. Securities and Exchange Commission (SEC) sued Ripple in December 2020, alleging that the company sold unregistered securities to American investors in an offering of XRP tokens. The regulator's case centers around claims that Ripple engaged in an ongoing unregistered securities offering since 2018, raising over $1.3 billion from selling XRP to U.S. investors.

Despite the legal battle, Ripple has continued to expand its operations and develop new products. In recent months, Ripple has been exploring new opportunities for growth and expansion, including a potential acquisition of Circle, the company behind the USDC stablecoin.

Recently, Ripple completed the acquisition of Hidden Road, a fintech firm that provides liquidity technology and services to institutions. The acquisition, which was announced in May for $1.25 billion, will enable Ripple to expand its offerings to institutional clients and strengthen its position in the digital asset market.