U.Today has prepared a summary of the top three news stories over the weekend.
Ripple ends legal fight with SEC
As announced by Ripple CEO Brad Garlinghouse on Saturday, June 28, the companyis dropping its cross-appeal against the SEC. "We’re closing this chapter once and for all, and focusing on what’s most important – building the Internet of Value. Lock in," Garlinghouse wrote in his X post. The regulatory agency is also expected to drop its appeal, which was filed under former Chair Gary Gensler. Last week, Judge Analisa Torresdenied a key joint motion from Ripple and the SEC to amend the final judgment from August 2024. According to the judge, Ripple and the SEC failed to meet the strict requirements necessary for amending. Meanwhile, XRP is changing hands at $2.18, down 0.26% over the past 24 hours, per CoinMarketCap.
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"Rich Dad Poor Dad" author says this asset will explode in July
Prominent entrepreneur and "Rich Dad Poor Dad" author Robert Kiyosakihas recently addressed his followers with a "Rich lesson" post on his X page.In his post, Kiyosaki shared that the best profits come when you buy, not when you sell, naming an asset he believes to be "the best "asymmetric buy" today." To the surprise of many, this time, the asset shilled by the author is not Bitcoin, but silver; according to Kiyosaki, investing in silver is going to bring more possible upside gain with little downside risk. The expert sees the price of silver exploding in the upcoming month of July. Therefore, he added, "everyone can afford silver today… but not tomorrow."
Strategy CEO goes on MSTR selling spree
According to filings with the SEC, Strategy CEO Phong Lehas been actively selling MSTR over the last three months. As can be seen in the filings, on June 18, Phong Le sold 8,400 shares of Class A common stock. Following the sale, he still directly owns 16,390 shares of Class A common stock. In addition to this, Phong Le owns 6,000 and 4,500 shares of two different series of preferred stock ("Strife" and "Stride"). Over the past month, insider sales by Strategy executives have totaled around $13.6 million without any recent purchases, with some transactions involving large amounts, such as Director Carl Rickertsen selling 26,390 shares for over $9.8 million. While this level of insider selling might raise concerns, many see it as routine and not necessarily a bad omen for the company. The MSTR stock is up by 27% on a year-to-date basis, outperforming the broader market.
