Ripple lures tech talents offering large bonuses

Summary:

  • Ripple is reportedly offering tremendous bonuses for those who will decide to enter the company’s board

  • US SEC sketches out plans when securities laws might apply to crypto token sales

  • Ethereum could be in a position to make some gains in the nearest time

Tuesday has not brought any moves of note on the cryptocurrency market so far but we discern some interesting news and technical patterns anyway. Today’s analysis focuses on two major topics intertwined by technical analysis.

Ripple, a fintech startup being headquartered in Silicon Valley, wrote on its LinkedIn account that it was looking to hire more than a dozen engineers and technical experts, including a new head of engineering for its xCurrent project (the company’s software solution enabling banks to instantly settle cross-border payments with end-to-end tracking). Bonuses offered by the company to new employees are the most striking point here. According to two prospective recruits, those bonuses are ranging from $1 million to $6 billion. These amount are to be paid in tokens. Job offerings for these posts were published on the company’s website in late 2018, but the firm declined to confirm or deny whether such bonuses are still being offered this year. According to a Ripple representative the company employs roughly 90 engineers and tech experts and it has plans to hire “aggressively” so as to expand its software. The company also reported that as many as 100 new employees were hired across the company last year.

Top 10 digital currencies in terms of market capitalization have seen only modest moves so far. Source: ccn.com

Regulation of cryptocurrencies and other related services is a key topic many regulators have to deal with in the foreseeable future given the rising interest of cryptocurrencies around the globe. Meanwhile, the US Securities and Exchange Commission (SEC) is planning to clarify when securities laws may apply to crypto token sales. Hester Peirce, one of the SEC’s commissioners, said in a speech at the University of Missouri School of Law that the institution’s staff were working on “supplemental guidance” in order to assess if crypto-fundraising projects fall under the securities laws. Let us recall that she expressed a similar opinion in November 2018 suggesting that “the regulator intends to release guidance for developers on when and how crypto tokens may be classified as securities”, as CoinDesk reports.

Ethereum has fallen into a bullish channel after it saw a sudden rally a few days ago. Thus, one may expect the price to rise toward the upper bound of the channel. The more important technical resistance might be found around $130. Source: xStation5
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