Latest Ripple XRP Securities Lawsuit Updates: A Decision Must Be Made

  • Ripple has been the subject of many lawsuits through the last few years.
  • Multiple lawyers believe that the only minor victory for Ripple would be if the case were to be dismissed, though it will likely face other lawsuits.

Today, on November 4th, the next stage of the long-running Ripple lawsuit will be taking place, though that stage has seemingly yet to be decided. Bradley Sostack, the plaintiff, can file a response to a motion to dismiss by the end of the day, which was originally initiated on September 20th. If it isn’t fully dismissed, then the case might move into discovery, as it would be newly categorized as a class action lawsuit.

The big question that seems to be on the table during this case is if XRP should be registered as a security under US law, which is what Sostack is claiming. If so, then the Ripple-based token might end up being at risk of enforcement action by the regulators in the US. However, regardless of the ending of this case, legal experts don’t believe that there will be a resolve on the matter.

Rebecca Rettig, a partner with FisherBroyles, commented,

“No one’s finding out whether XRP is a security anytime soon, if ever, at least through this proceeding.”

There are plenty of reasons that this type of decision won’t be made. For instance, the last motion made by Ripple argued that the complaint by Sostack took too long to file, and that the case doesn’t actually show that the plaintiff had purchased XRP from Ripple or even the initial sale. To win the case, Ripple probably won’t even need to address the question.

A partner with Anderson Kill, Stephen Palley, pointed out that “a solid motion” was created by the defense team.

He added,

“The defense lawyers have done a good job so far. They’ve shown some good tactical skills, they could win but even if they do there are a lot of other things that could happen.”

According to CoinDesk, there’s been no response from the general counsel of Ripple.

Rather than being initiated as an argument, the motion from Ripple to dismiss was more about the question being posed in the first place. Paul Godfrey, an attorney that is based in Florida, stated that the platform created “both a statement and a legal conclusion in its introduction.” He added that the introduction pointed out that “the crux of [plaintiffs’] claims is the false assertion that XRP is not a currency, but rather a security.”

Godfrey, who doesn’t practice securities law and has never litigated in the federal courts, believes that the discussion over XRP’s status (or lack thereof) as a security is more of a legal conclusion, which Ripple makes but doesn’t argue.

Godfrey stated,

“Ripple does not advance any argument to prove such a denial… Accordingly, it is addressed, but not argued.”

Rettig believes that pushing back against the idea of XRP is a security could be considered “too risky,” and a major analysis of the facts would be essential to making the argument in court. Ripple avoided this type of fight with “straightforward legal defenses,” as Rettig sees it.

She remarked,

“If you have independent grounds or a dismissal, [and] you don’t have to get into a fact-intensive analysis, why do it?”

Furthermore, in claiming that XRP is not a security, adding that it is instead a currency, Ripple could face holes in the argument.

Palley points out an interesting conundrum, stating that securities law may still allow something to be considered a security or investment contract, as well as a currency, simultaneously.

He stated,

“Basically, just because it’s one thing doesn’t mean it can’t be another. It can be a security for one purpose, and currency for another. The application of one framework doesn’t exclude another.”

He brought up the current legal battle involving Kik Interactive and the SEC, during which time that the former stated that their kin cryptocurrency cannot be a security because it is a currency. The SEC has since disagreed.

The “statute of repose” argument used by Ripple is interesting to Rettig, who noted that the argument has been brought up in other cases. This period of time covers the period after a sale that allows parties to file a lawsuit in response to an alleged wrongdoing. The “statute of limitations” is different, as it starts upon learning of the misconduct, according to law professor Peter Henning that wrote about these circumstances in the New York Times.

Rettig elaborated, stating,

“The statute of repose argument … was used successfully a number of times in cases bringing Securities Act claims relating to mortgage-backed securities six or seven years ago, which provides precedent the defendants could rely on.”

Rettig explained that the first filing of the amended complaint by the plaintiff involved,

“a lot of discussion about how novel and interesting it was that plaintiff cited extensively to websites, to social media and the like.”

He added that the “interesting” approach made the complained “robust.”

Ripple used this maneuver to their its advantage, bringing in their own facts.

However, Rettig commented,

“Usually defendants can only use the facts alleged in the complaint itself or the facts incorporated by reference in a complaint in defending against claims on a motion to dismiss. Here, however, defendants were able to use all of the facts in the documents, websites and social media posts to which the complaint cites in rebutting plaintiff’s claims.”

Ripple brought in information sourced from a wiki page to support their argument, though Rettig commented that other details on that same page were used by the plaintiff to support his argument.

Godfrey remarked,

“By showing no relief was available for count 1, Ripple was able to demonstrate there was a failure to state a cause of action for count 2.”

Now, in the filing expected to be today, the plaintiff has a few ways available that could ultimately push the case along. Rettig believes that the plaintiff may try to “relate back” to the first case that was filed, which stated that Ripple was in violation of securities laws. This wouldn’t be a new accusation, considering that Ripple has been facing lawsuits since May last year that alleged that XRP was being sold as an unregistered security. However, it still may not be enough to win, since Ripple already argued against it.

Rettig explained,

“Plaintiff also relies on a ‘continuing sale’ theory and they may apply that argument to the statutory requirement that the statute of repose runs from the date the security was ‘first bona fide offered to the public.”

Godfrey remarked that the discovery process that eventually is implemented could help with the verification of the XRP purchase from Ripple by the plaintiffs.

He stated,

“If I were Plaintiff’s attorneys … I would focus on the fact that while the inference could not be maintained in the past, with present technology and some well-aimed discovery, it would be quite easy to determine whether or not XRP was purchased by Plaintiffs from Defendants.”

Even if Ripple manages to come out victorious, Palley believes that the platform will continue to be faced with new lawsuits.While other cryptocurrency companies tend to be difficult to sue with their lack of liquidity, Ripple doesn’t have the same problem.

Palley pointed out,

“[With] ICO class action litigation from an economics perspective, you have to ask … how much money can you recover? Ripple, you have a solid [chance] of money.”

Palley added that winning now isn’t a win overall, and that the case being dismissed would mean more of a victory for the platform.

Tobacco companies often face a similar problem, as they would have to win every single case. The loss of just one case opens the door for other parties to use it towards their own victorious lawsuits.

Palley added,

“It’s not like winning this case means that nobody else can sue them for securities violations.”

At the same time, it doesn’t mean that Ripple can be faced exclusively with losses; it only means that parties have the ability to file lawsuits.

Until the case has some level of movement today, blockchain industry lawyers await the outcome of the Sostack versus Ripple case. Rettig remarked, “It’s not going to end for a long time.”

Read Original/a>
Author: Krystle M

The FDA Needs to Provide Clear Guidelines on Blockchains, According to Researchers

While many people can only imagine what Bitcoin is, Blockchain is only part of what makes cryptocurrencies what they are, and the United States Food and Drug Administration (FDA) has been urged to show interest in it.

FoodOnline recently reported that researchers have started to urge the FDA to investigate blockchain technology’s potential in food safety. The person in question was Alex Manders, the Head of Blockchain Solutions of the Information Services Group (ISG). ISG in itself is a tech advisory and research firm, based in Connecticut.

At a meeting held for the public, aptly named “A New Era of Smarter Food Safety,” Manders spoke up. He urged the FDA to start examining blockchain solutions, investment options, and vendors. He argued that they should help enterprises understand how to use blockchain to improve food safety, all across the supply chain.

ISG: Biggest Challenge is nontechnical

ISG considers the most critical challenge associated with blockchain’s overall adoption in the food and drink industry as something “nontechnical.” Instead, ISG believes ignorance to be the most significant cause of concern within the food industry. They explain that lack of understanding on existing blockchain infrastructures, things like collaboration models and vendors, would be the main problem. By extent, these challenges could include a simple lack of governance or industry framework.

ISG has suggested that the FDA should set up grants or funds for harvesters, farmers, retailers, and distributors that want to implement blockchain in a bid to make the food supply chain more efficient and transparent.

Current successes (And Failures)

While the FDA hasn’t done anything remarkable so far with blockchain, it doesn’t mean that companies haven’t already tried to make use of its distributed ledger technology. IBM, the global tech giant, had made an announcement about its new collaboration with Raw Seafoods. This announcement, coming last week, saw the Massachusetts-based food firm taking steps to digitize their scallop supply chain, sourced from the Atlantic Sea Scallop Fishery. They will do this by making use of the IBM Blockchain Platform to create an immutable ledger.

While Raw Seafoods is gaining success, Nestlé was seeing unexpected difficulties. While the Swiss food retailer is beloved across the globe, it seemed to be having issues with developing a blockchain. They had announced that their blockchain-based supply chain project was facing an unexpected amount of challenges along the way.

The organization is reevaluating its traditional business practices, in light of the unprecedented challenges compared to other digital innovation plans.

While some may want to deny it, the invention of blockchain-based technology is a massive milestone in the digital world. In time, centralized and decentralized networks will be equally common, if not favoring decentralized databases, due to the increase of security it brings.

Read Original/a>
Author: Ali Raza

Death By Abandonment’ Is Reason Most Crypto Projects Die Before Their 2nd Birthday: Longhash

In efforts to understand the major causes leading to the demise of many crypto projects, blockchain education platform Longhash dug into Coinopsy’s data to come up with conclusions on what kills crypto projects.

The analysts examined 700 crowd sourced projects in a span of 8 years and came up with a conclusion that majority of crypto projects had died due to abandonment which accounted for 63.1% of the dead crypto projects.

According to an article released by Longhash, crypto projects dying as a result of abandonment were mostly due to the investors halting trading an asset which led to volumes dropping to zero. These projects, on average, had a lifespan of about 1.6 years.

The research also identified that scams accounted for about 29.9% of the dead crypto projects making it the second most prevalent cause. The researchers found that 2017 recorded the highest number of scams in the crypto industry. The number of projects dying due to scam increased five-fold as per the researchers as indicated below.

The report by Longhash also identified three people who were severely implicated in three distinct dead scam projects mentioning Bitcointalk user Crunck as well as another person going by the name Daniel Mendoza.

The other category of dead crypto projects identified by Longhash was joke projects like AnalCoin, BieberCoin as well as BagCoin. This category accounted for 3.2% of dead crypto projects and had an average lifespan of about 1.4 years.

Longhash’s report indicates that its difficult to quantify the exact number of dead crypto project since most of the data is crowdsourced. The report also notes that there is little consensus on what constitutes a dead crypto project.

Cointopsy has listed 705 projects as dead, DeadCoins has listed 1779 as dead while CoinMarketCap has more than 1000 projects that record less than $1000 every day in terms of trading volume as near their death or lifeless.

Cointelegraph reports that in its recent research, it was found that the most common causes of crypto projects deaths were low liquidity, fraud, lack of utility as well as poor management.

Read Original/a>
Author: Joseph Kibe

Will the Crazy 4Chan Bitcoin Price Prediction Hodl True for October at $16,000 BTC/USD?

Many crypto enthuasists are banking on the infamous 4chan bitcoin price prediction to be right again for the third time in a row in the 2019 calendar year.

A screenshot of a comment made on January 21, 2019 that correctly predicted bitcoin’s price twice already has been going around and is being hailed as the ultimate shot caller due to being correct time and time again. But will the notorious 4chan forecast actually hodl true in October?

After calling out Bitcoin’s bottom in January 2019, 4chain anon proved right two more times and has been one of the most talked about oddities in the cryptoverse this year.

He or she (or they) said BTC’s price would be $5,300 in April and then $9,200 in July. Despite going to $13,900 in July, BTC crashed to about $9,050.

The next prediction by 4chan is of $16,000 in October 2019.

This means the BTC price would essentially double in the next month to go from today’s current price hovering around $8K.

Currently, bitcoin is trading at $8,020 with 24 hours loss of 1.16 percent, as per Coincodex.

It’s not just 4chan that has predicted this, crypto analyst Crypto Welson is even more bullish as he believes we could see “a new yearly high” in October.

This is because, if we zoom out on the daily charts,

“Bitcoin has seen similar “flash crashes” numerous times during bull runs.”

Crypto trader and investor Josh Rager also points out how in 2013 Bitcoin bull market pulled back 75% over 89 days before registering a 1600 percent run-up to new highs later in the year.

In 2019, Bitcoin has currently retraced 42% over 91 days. Though the price can continue down once pullback is done,

“expect the bull trend to continue.”

However, trader Hsaka says,

“Whenever price breaks a multi-month support or resistance, it usually sees continuation in the direction of the break.”

Q4 historically has been a good quarter for BTC price and whether it is going to be October or the coming months, a surge is bound to come.

Remember, it took just three weeks for bitcoin to boom from $8K to $19,893 USD back in 2017. The “Thanksgiving to Christmas” explosion in the price of BTC was nothing short of amazing and would be a wild scene to see it happen again.

Many question whether or not bitcoin’s USD exchange rate value has found a new floor at $8,000 given how it has fared since its early Q2 rise. What expert Tom Lee had to say was received with great admiration in saying the recent drop of BTC/USD from $11K to $8K was nothing abnormal and is par for the course in bitcoin’s ‘rule of the 10 best days‘ theory he explained.

Regardless of how the price of bitcoin reacts in the short term or hodls true to its $16K milestone in October 2019, many believe what Mark Yusko thinks in that all investors should be buying bitcoin with every chance you get.

Read Original/a>
Author: AnTy

Fintech Investment Platform BnkToTheFuture To Roll Out Security Token Offering (STO) For Startups

Demand for security token offerings (STOs) is growing in the crypto industry, and many leading platforms are taking steps to provide this form of the token sale to their clients. STOs have been created to enable crypto platforms to become compliant with regulations in many countries.

BnkToTheFuture, a fundraising platform for crypto and blockchain based firms, is reportedly working on providing its clients with STOs. The platform is entering into a partnership with Diacle, a crypto consulting firm. The partnership will see the two companies build a shared security token investment and advisory firm. It is reported that BnkToTheFuture’s executives anticipate that there will be an increase in the demand for cryptocurrencies, and an STO platform will be vital in the fundraising process for many blockchain startups.

According to Simon Dixon, BnkToTheFuture’s CEO, the firm receives an average of 45 applications every week from startups in fintech and crypto spaces which are seeking funding. About 18% of these startups are interested in security tokens, and this is a reflection of the growing demand for such a platform as the one being developed by BnkToTheFuture. Crypto and blockchain startups are increasingly moving from initial coin offerings (ICOs) due to the regulatory challenges that come with this method of token offering.

BnkToTheFuture Creating Bridge Between the Crypto Industry and Traditional Investors

The platform provided by the Cayman Islands based firm allows traditional institutional investors to place their funds in crypto startups. This group of investors is not familiar with cryptocurrencies, but they would be familiar with securities. Dixon said that traditional investors want to invest in security tokens because they offer additional liquidity. The liquidity is not readily available because cryptocurrencies are a fairly new asset class on the market.

Currently, there are over 87,000 institutional investors registered with BnkToTheFuture. The STOs platform will help these investors and the blockchain startups seeking investment stay on the right side of regulations that pertain to securities. Diacle’s experience with crypto securities will be of importance in ensuring that this compliance is achieved and maintained throughout the STO process.

STO Market Growing as Demand Increases

The STO market has been experiencing steady growth over the years as players in the crypto industry pay more attention to this form of token offering. In 2017, only two STOs were executed and this number grew to 25 in 2018. By the end of 2019, it is expected that 87 STOs would have been conducted, and these numbers reflect steady growth. According to Chain Partners research group, the STO market is likely to reach $2 trillion in value by 2030.

Read Original/a>
Author: Ali Raza

Blockchain Startup Partners With Oil Consortium For The Management Of WasteWater

Blockchain technology is being implemented by many companies in the oil and energy sector. The new-age technology is close to achieving mainstream adoption as more use cases are developed.

A consortium of oil firms has engaged a blockchain startup to create a system for the management of water that is used in the extraction of oil. The system will be used in North Dakota’s Bakker oil fields. The companies that form the consortium include Chevron, Exxon Mobil, and Royal Dutch Shell. The blockchain system will bring increased efficiency to the management of wastewater from oil fields, and help these oil companies to conduct their business better.

Blockchain Firm Awarded Contract to Manage Oil Water

A blockchain startup was awarded the contract to run the blockchain water handling technology. Data Gumbo received the contract from the Offshore Operators Committee (OOC) Oil and Gas Blockchain Consortium on the 10th of September. The pilot program will be used at the oil fields in North Dakota.

One of the companies that is a part of the consortium, Equinor, said that they expect to save over 25% in costs related to the disposal of saltwater. Saving this amount of money will enable the companies to direct it towards other activities which will ultimately benefit the industry.

Data Gumbo will run an automated payment system using their blockchain network. The startup will also use the GumboNet platform for the management and synchronization of data about the wastewater. Having this data on one platform will allow the oil industry as a whole to make better decisions and achieve new levels of efficiency.

According to the EPA, over 2 billion gallons of liquid byproducts from the oil and energy sector come into the United States daily. These fluids come into the country through about 180,000 wells, and it is these fluids that will be managed by Data Gumbo’s System.

Data Gumbo and the Consortium

Data Gumbo has developed a technology for the management of supply chain and payment systems in the oil industry. According to Andrew Bruce, the startup’s CEO, streamlining the various processes in the oil sector will reduce all costs by over 30%.

The Oil and Gas Blockchain Consortium was formed in March and it is tasked with looking at the different proofs of concepts for blockchain networks in the industry. The consortium is the first of its kind in the United States and it will give the American oil industry a huge boost.

Read Original/a>
Author: Ali Raza

Stablecoins Pegged Against Foreign Currency Could Affect Swiss Monetary Policy: Central Bank President

Many regulators and heads of financial institutions have expressed concern over cryptocurrencies and their use. Crypto assets come with many challenges that place financial institutions in an awkward position as far as dealing with digital assets goes.

Thomas Jordan, the president of the Swiss National Bank, said that stablecoins pegged to fiat foreign currencies could place Switzerland’s monetary policy in jeopardy. The bank’s president made this statement at the University of Basel on the 5th of September.

The Volatility of Crypto Assets

Jordan said that cryptocurrencies have limited use as a payment method, units of account, or stores of value. Cryptocurrencies are volatile and prone to fluctuations, and this affects their ability to perform those functions according to Jordan.

In his description of cryptocurrencies, Jordan said that they are speculative investment instruments and they cannot be equated to good money. People who use financial systems describe a unit of value as good if it maintains a stable value over time, if it enables easy and efficient payments, and if it is accepted by many people across the world. If these lines of definition are applied to cryptocurrencies, one can see that it is unlikely that they will be used as money in Switzerland said Jordan.

Foreign Currency Pegged Stablecoins

Some stablecoins are pegged to fiat currencies such as the USD, and these may come into use in Switzerland. Jordan said that if these kinds of stablecoins made their way into Switzerland’s system, they could impair the country’s entire monetary policy.

A stablecoin backed by the Swiss franc would have no immediate effect on the country’s monetary policy but problems come from ones pegged on foreign currency. Swiss National Bank’s president said that giving the public access to a digital currency issued by the central bank could eventually cause a bank run, and this would then threaten the country’s financial systems.

A Hub for Crypto Development

Favorable regulations and an enabling environment have made Switzerland a welcoming environment for crypto-related businesses. Many crypto companies have set base in the country, and they are running a variety of blockchain and crypto projects.

Facebook placed the headquarters for its project Libra in Switzerland and authorities in the country have put the project under scrutiny. The country’s central bank is working closely with relevant authorities to ensure that Libra is compliant with the country’s regulations. The central bank’s chairman, Fritz Zurbruegg, said that it is difficult to provide a complete analysis of Libra because the documents about the project are vague.

Read Original/a>
Author: Ali Raza

FIS Global And Boeing Join Hedera Hashgraph’s Governing Council

Many big-name companies are moving into partnerships with blockchain-based firms as the new age technology grows in application and popularity by the day. Many industries consider blockchain technology as the basis for their future operations and ways of doing business.

Hedera Hashgraph is one blockchain company that is attracting the attention of some big-name firms from various industries. Hedera provides a blockchain-based public network for enterprises. The decentralized public network allows any user to create their own cyberspace through which they can perform transactions, create smart contracts, and create a file system among a host of other applications. Each enterprise can create personalized cyberspace through Hedera Hashgraph

Big-name Brands Come on Board

The public network is run by a governing council that is comprised of companies from several different industries. Each of these companies come on board and provide expertise from their field of practice, and this gives Hedera a wide range of applications that it could accommodate.

On the 29th of August, 2019, Hedera announced that FIS Global would be joining the public network’s governing council. The American financial giant becomes the 9th addition to Hedera’s 39 member governing council.

After the announcement of FIS Global’s joining of Hedera’s governing council came that of Boeing. The world’s largest aircraft manufacturer has also joined the blockchain firm’s governing body, becoming the 10th addition to the body.

Some of the other companies that are already on the council include Tata Communications (India), IBM (US), Deutsche Telekom (Germany) and Nomura Holdings (Japan), among other companies on the council. These council members are from different industries and different countries across the world.

Leemon Baird, chief scientist, co-founder and inventor of Hashgraph’s algorithm said that they aim to make sure that the initial members of the council are from different industries and different countries to ensure that there is diversity on the body.

Hedera Hashgraph

The blockchain startup says that have developed a distributed ledger technology which can be used to facilitate micropayments, support smart contracts, and promote the distribution of file storage. Companies that have a private network can connect to Hedera’s public decentralized network and make use of the transaction processing system provided on it. At the network’s launch, Hedera said that their network could process up to 10,000 transactions per second and the file services can take up to 10 transactions per second.

All the council members will be in charge of a node on the Hashgraph network, and they will be responsible for running that node. When the network’s open access is launched in September, each one of the council members will be able to use Hedera Consensus Service, which gives the members access to the public network’s transaction ordering system.

Hedera Token Sale

Hedera plans on distributing its HBAR roles over the course of 15 years. As it stands, the blockchain company has raised $124 million in three rounds of fundraising. Hedera employed a simple agreement for future tokens (SAFT) framework for the three rounds of token sales that have been executed to date.

Read Original/a>
Author: Ali Raza

Canadian Mining Company Hut 8 Sees Revenues Going Up 250% In Q2

If there are clear winners of the crypto market in 2019, they are certainly the miners. Many companies are seeing huge improvements in their profits during the second quarter of 2019. Hut 8 Mining Corp. was the latest one to publish amazing results.

During Q2 2019, the Toronto Stock-listed company saw its net profits go up from a net loss of $3.6 million USD to a profit of around $25.3 million this year. Quite an improvement. Revenues also increased by over 250%. The revenue from the same quarter last year was $5.8 million USD and this year it was $21.3 million USD.

According to the CEO of the mining company, Andrew Kiguel, this was the best quarter that the company ever had since it was founded. The main reason for the success of this was that mining costs were reduced considerably and the price of Bitcoin went up quite fast.

This combination of low prices ($2,757 USD per BTC) with BTC going as high as $10,000 during the quarter was essential for the record-breaking performance. According to Kiguel, the improvements did not happen alone. The company was very focused on reducing costs and optimizing its systems at the end of 2018 when the bear market was putting several companies out of business.

Read Original/a>
Author: Bitcoin Exchange Guide News Team

This 24-Year Old British Software Developer Accepts 100% Of His Salary In Bitcoin (BTC)

Many people have already started putting some of their savings in Bitcoin, however, there aren’t many who accept their entire salary in BTC. Although, there is a rising wave who people who dare to do this. Live a life that is free from the control of banks and transfers money with minimal transaction fees across the globe to whomever they please.

Zakk Lakin, a British software developer is one such example of this. Lakin currently works as a developer in CoinCorner Ltd. CoinCorner is a company that allows you to buy Bitcoin instantly. While it isn’t exchanged in the sense of a dedicated trading venue, it is an entry-level service, which allows you to then transfer your Bitcoin elsewhere. He is a resident of Isle of Man and worked in the firm for 2 years now.

UK’s media outlet mirror interviewed the 24-year old. One of the biggest revelations in his story was the fact that Lakin hasn’t altered his lifestyle at all. He says:

“Buying things with crypto is easier than people think – there are many online merchants that accept Bitcoin and I use them to buy what I need throughout the month – everything from tech-related items such as Raspberry Pi products or cooking equipment from Amazon (yes, there are ways to buy things from Amazon with crypto!)”

Not everything is available to be purchased with cryptos currently, however, Lakin doesn’t find it hard to liquidate his assets. Working for a crypto exchange gives him the benefit of not paying the fees that other users pay. He goes on:

“At the moment I convert all of my permanent outgoings (such as rent, direct debits, etc) to GBP on payday to avoid any issues around the Bitcoin price movements and then the rest is left for disposable income/savings.”

Although, there are disadvantages living this life too. One of them being that the transaction time is huge. Zakk states:

“Over time I believe we’ll begin to see more retail companies like restaurants and petrol stations introducing Bitcoin payments, and this will mean I can spend less on fiat and more in Bitcoin.”

Read Original/a>
Author: Sritanshu Sinha