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- 🎉 Gate Square Growth Points Summer Lucky Draw Round 1️⃣ 2️⃣ Is Live!
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$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.
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.