$PHA Gains 33% increase after announcing partnership with xNomadAI

Gate.io news: $PHA, the native utility token for Phala Network, an open-source AI NFT platform, transforming AI agents into transferable, trackable assets capable of independent operation experiences 33% price surge after Phala Network partners with xNomadAI to integrate Phala's TEE runtime environment, enhancing xNomadAI's AI-driven NFT infrastructure.

According to Gate.io Trading data, $PHA shows a low of $0.26755 and a high of $0.36732 and is currently trading at $0.35705, with a total volume of $23.38M and a marketcap of $277.48M in the last 24 hours.

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FengBaobaovip
· 01-16 03:39
The legal dispute between the US Securities and Exchange Commission (SEC) and Ripple Labs has escalated further and is currently under review by the US Second Circuit Court of Appeals. The focus of this case is whether Ripple violated the Securities Act of 1933 and whether the sale of XRP tokens should be considered as unregistered securities transactions.

Background: Legal standoff between Ripple and SEC

SEC has accused Ripple and its executives, Bradley Garlinghouse and Christian Larsen, of unlawfully issuing and selling XRP tokens worth over $2 billion without registration, allegedly violating the Securities Act of 1933. According to the SEC, these XRP sales include institutional sales, retail transactions, and non-cash transactions (such as exchanging labor or services for XRP). The SEC believes that all of these transactions should be classified as securities transactions.
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