Todd ShriberInvestorPlace Contributor
About Todd Shriber
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Tussling with the SEC is already taking a toll on Ripple and XRP. There's speculation the company is considering moving overseas and, two days before Christmas, the currency sank almost 32%.Then came news that some well-known cryptocurrency exchange operators will limit XRP. For example, Coinbase, one of the largest companies in the group, put XRP into “limit only” on Jan. 19.
BABA stock is reflecting that risk, residing almost 24% below its 52-week high. The saga started last year when Alibaba founder Jack Ma sought to bring the fintech arm of his empire, Ant Group, public. The goal was to raise at least $30 billion, which would have shattered initial public offering (IPO) records, but Ma used some unusual tactics, drawing the ire of Beijing in the process.