Elon Musk and Mark Cuban have joined forces to challenge the U.S. Securities and Exchange Commission’s (SEC) practice of conducting in-house trials without juries. The duo has presented a joint amicus brief to the Supreme Court, raising questions about the legitimacy of the SEC’s administrative proceedings and their implications for the Seventh Amendment right to...Read More
After a year’s worth of stonewalling spot Bitcoin ETF applicants, the SEC may be taking a more laid-back approach toward their proponents. Cordial Discussion With Applicants Following a failed bid to block Grayscale from creating an ETF via lawsuit, Cathie Wood – the CEO of Ark Invest – stated that she had noticed a welcome...Read More
Coinbase, one of the leading cryptocurrency exchanges, is pressing the Third Circuit Court to compel the U.S. Securities and Exchange Commission (SEC) to act on its long-pending rulemaking petition related to digital assets. The company has accused the SEC of bureaucratic delays and a lack of transparency, taking the legal showdown to a new level....Read More
Ark Invest, led by Cathie Wood, has taken a significant step forward by filing an updated version of its spot Bitcoin ETF prospectus. The move is in response to recent feedback from the U.S. Securities and Exchange Commission (SEC) asking for clarifications on some concerns. Changes to Ark Invest’s Spot Bitcoin ETF Prospectus Eric Balchunas,...Read More
TL;DR Jeremy Hogan estimates a 40% chance of a trial in 2024, a 32% chance of a settlement, and a 19% chance of an agreement by end of 2023. Some believe the SEC might extend the legal process to maintain uncertainty in the crypto sector. Yassin Mobarak suggests the SEC might drop charges against Ripple...Read More
Former BlackRock managing director Steven Schoenfield, who now serves as the CEO of MarketVector Indexes, predicts that the U.S. SEC will approve a Spot Bitcoin ETF within three to six months. Schoenfield shared this estimate during a panel discussion on ETFs at CCData’s Digital Asset Summit in London, where he was joined by another ex-BlackRock...Read More
District Judge Analisa Torres has dismissed the Securities and Exchange Commission’s (SEC) request to certify an interlocutory appeal aimed at overturning its recent and widely publicized courtroom loss against San Francisco-based blockchain tech company Ripple Labs. While this is a major win for Ripple, the SEC has not lost its ability to appeal. Instead, the...Read More
TL;DR Ripple achieved another legal victory as a federal judge dismissed the SEC’s appeal to a July ruling; Following this win, XRP’s price surged to nearly $0.55 amid a broader cryptocurrency market decline, marking its second significant price increase in response to legal developments. Six Months Left Ripple secured another major victory in its legal battle against...Read More
In a predictable move, the SEC filed a motion to oppose Coinbase’s motion to dismiss the case on Oct. 3. “It’s more of the same old same old,” said the exchange’s chief legal officer, Paul Grewal. The SEC sued Coinbase in June, a day after it went after Binance. It accused the firm of selling...Read More
TL;DR Ripple vs. SEC: In 2023, a judge ruled that XRP’s secondary sales aren’t investment contracts, boosting its price. XRP’s Rank: Despite the court’s positive stance, XRP remains outside the top 3 cryptocurrencies by market cap. Future of XRP: Its rank depends on adoption, market dynamics, competition in payment solutions, and macroeconomic trends. Ripple v....Read More
John E Deaton – a US attorney who represents thousands of Ripple investors in the lawsuit against the US Securities and Exchange Commission (SEC) – launched another bashing manifest towards the agency’s Chairman – Gary Gensler. The latter has been criticized for his negative approach to the cryptocurrency industry, with some arguing that the Commission’s...Read More
The cryptocurrency market has flashed green recently, with most digital currencies charting substantial gains. Bitcoin (BTC) – the largest by market capitalization – and XRP – Ripple’s native token – are undoubtedly amongst those. In this article, we will observe ChatGPT’s answer to the question of whether XRP has a chance to outperform the primary...Read More
Pablo Rodriguez – the co-founder of the cryptocurrency pyramid scheme AirBit Club – was sentenced to 12 years in prison months after pleading guilty to wire fraud conspiracy charges in a US District Court in March. Rodriguez and his co-conspirators were accused of orchestrating a global scam, enticing investors with false promises of cryptocurrency riches...Read More
SEC Chair Gary Gensler Under Fire During a discussion about cryptocurrency regulations, Congressman Warren Davidson recently expressed concerns about the actions of Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC). Davidson, a House Financial Services Committee member, highlighted the need for transparency and accountability within the SEC. During the conversation with...Read More
Asset managers continue to actively explore digital asset products, with Bitwise poised to launch trading for two Ethereum-themed ETFs next week. The release of the two products is expected to enable investors to gain exposure to CME Ether futures through the widely popular and regulated ETF format for the first time. Bitwise’s Ethereum-Themed ETFs One...Read More
On Sept. 28, the SEC charged Anthony Viggiano for insider trading ahead of numerous merger-and-acquisition deals. The complaint, filed in the U.S. District Court for the Southern District of New York, alleged Viggiano tipped two friends on upcoming M&A deals and strategic partnerships. Chief of the SEC’s Market Abuse Unit, Joseph Sansone, commented: “As alleged...Read More
John E. Deaton – a US attorney representing thousands of Ripple investors in the lawsuit against the US Securities and Exchange Commission (SEC) – does not see how the regulator will prevail. He described the agency’s claim that it wants faster adjudication than the blockchain enterprise as the “dumbest argument” he had heard. In his...Read More
In a significant development in the ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and major cryptocurrency exchange Binance, stablecoin issuer Circle has intervened, asserting that stablecoins should not be categorized as securities under existing financial regulations. This comes after earlier this year, Binance faced several legal accusations from regulators with the...Read More
Valkyrie Investments, known for its Bitcoin Mining ETFs, will begin investing in Ether Future ETFs, making it the first to offer exposure to Ether and Bitcoin futures contracts within a single entity. The asset management firm plans to purchase Ethereum Futures on Oct. 3, expanding its offerings range. Valkyrie Expands Offerings with Ethereum Futures Valkyrie...Read More
Despite Ripple’s partial victory in July, the legal battle between the company and the US Securities and Exchange Commission (SEC) continues at full speed. In this article, we will outline the latest essential details surrounding the lawsuit as well as Gary Gensler’s (Chairman of the regulator) most recent reaction to the dispute. The Battle Goes...Read More
The United States Securities and Exchange Commission (SEC) has delayed reviewing Bitcoin ETF applications from major financial firms, including BlackRock, Valkyrie, Invesco, and Bitwise. Analysts say this postponement is tied to the impending risk of a U.S. government shutdown on Oct.1. SEC Delays Bitcoin ETF Applications According to separate Sept. 28 filings, the SEC has...Read More
During his congressional testimony on Wednesday, Gary Gensler, the U.S. Securities and Exchange Commission (SEC) chairman, persisted in his criticism of the cryptocurrency industry. Despite partisan divisions and ongoing legal battles, Gensler did not disclose the SEC’s next moves regarding spot bitcoin exchange-traded funds (ETFs) following a recent legal setback. Gensler Accuses Crypto Companies Chair...Read More
Terraform Labs founder Do Kwon has submitted a court filing urging a federal court to dismiss the U.S. Securities Exchange Commission’s (SEC) request to question him in the country regarding the severe crash of his company’s tokens Terra and Luna. According to the filing in the U.S. District Court for the Southern District of New...Read More
Ripple is hosting a party to further unite the XRP community and, more importantly, celebrate the landmark partial victory against the US Securities and Exchange Commission (SEC) secured in mid-July. Apart from drinking and having fun, though, some people believe the gathering could witness some serious developments surrounding the blockchain enterprise and its future advancement....Read More
The ongoing lawsuit between Ripple and the United States Securities and Exchange Commission (SEC) and the developments surrounding the popular memecoin Shiba Inu (SHIB) remain among the trendiest crypto topics. In the following lines, we will pinpoint the newest events focused on the matter. The Ripple v. SEC Battle The legal fight, which dates back...Read More
John E. Deaton – a US attorney who represents thousands of XRP investors in the lawsuit between Ripple and the SEC – criticized the agency for one of its latest moves. Specifically, the regulator opposed a reorganization plan presented by Coinbase, according to which customers of the now-bankrupt crypto lender Celsius Network could be reimbursed...Read More
Ripple seems determined to push the legal battle with the US Securities and Exchange Commission (SEC) into a decisive victory in its favor. As such, the company recently hired a renowned lawyer who could help in that mission. Ripple Welcomes Rahul Mukhi James K. Filan – a defense lawyer and formal federal prosecutor – took...Read More
The legal battle between Ripple and the United States Securities and Exchange Commission (SEC) remains a trend in the crypto space. Both entities have fired multiple shots at each other in the past three years, with the crypto company currently having the upper hand. In this article, we will observe the most recent developments around...Read More
On Sept. 21, the company submitted a 60-page petition asserting that the financial regulator overstepped its authority when it sued them. The SEC sued Binance in June, alleging a range of misdemeanors, including mishandling customer funds, misleading investors and regulators, and violating securities rules. Binance and CZ have accused the SEC of “attempting to impose...Read More
Binance CEO Changpeng ‘CZ’ Zhao has refuted a recent report alleging that he received a $250 million loan from BAM Management, the company that serves as the holding entity for Binance.US. The development comes amidst Binance’s struggles with plunging trading volume as the world’s largest cryptocurrency exchange faces mounting lawsuits and increased regulatory scrutiny. CZ...Read More
