Why Block Stock Is Rising Today
Portfolio Pulse from Ryan Gustafson
Shares of Block, Inc. (NYSE:SQ) are rising after a U.S. judge ruled that Ripple (CRYPTO: XRP) sales do not constitute an offer of investment contracts. This ruling is likely to impact the entire crypto industry and many companies facing similar legal challenges. SQ shares were up 7.03% at $76.23 at the time of publication.
July 13, 2023 | 7:29 pm
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Block, Inc. (NYSE:SQ) shares are rising after a U.S. judge ruled that Ripple (CRYPTO: XRP) sales do not constitute an offer of investment contracts. This ruling is likely to impact the entire crypto industry and many companies facing similar legal challenges.
The ruling in favor of Ripple is seen as a positive development for the crypto industry, which could benefit companies like Block, Inc. that are involved in the crypto space. This has led to an increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
A U.S. judge ruled that Ripple (CRYPTO: XRP) sales do not constitute an offer of investment contracts. This ruling is likely to impact the entire crypto industry and many companies facing similar legal challenges.
The ruling in favor of Ripple is seen as a positive development for the crypto industry, which could lead to an increase in the value of Ripple and other cryptocurrencies.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100