Author: Max Bauer

The Securities and Exchange Commission (SEC) has formally appealed the July 2023 ruling in its case against Ripple Labs, Inc., Bradley Garlinghouse, and Christian A. Larsen. The appeal was filed with the United States Court of Appeals for the Second Circuit on Tuesday, October 2. You can see the official document here. The SEC’s appeal comes after a partial victory for Ripple in the case. Judge Analisa Torres of the Southern District of New York ruled that while some of Ripple’s sales of the XRP cryptocurrency violated securities laws, others did not. This decision was seen as a significant win…

Gurbir Grewal, the head of the U.S. Securities and Exchange Commission’s (SEC) enforcement division, is set to leave the agency on October 11th. His departure comes after three years of leading the division, during which the SEC initiated over 2,400 enforcement actions resulting in billions of dollars in penalties and disgorgement. Gurbir Grewal Played a Role in Specifically Targeting the Cryptocurrency Sector Sanjay Wadhwa, Grewal’s deputy director, will assume the role of acting director of the enforcement division following Grewal’s departure. Sam Waldon, the chief counsel for the division, will be appointed acting deputy director. SEC Chairman Gary Gensler praised…

Ripple bulls are celebrating after crypto fund manager Bitwise Asset Management submitted an application for a spot XRP ETF in the United States. This move comes amid growing optimism following a recent court ruling that favored Ripple in its ongoing legal battle with the Securities and Exchange Commission (SEC). Bitwise May Have Filed for an XRP ETF in Case of a Trump Victory Ripple has been entangled in a legal dispute with the SEC since 2020, which accused the company of raising $1.3 billion by selling XRP as an unregistered security. While a 2023 court ruling determined that XRP is…

Analytics company EmberCN has alleged that Justin Sun, the founder of Tron and BitTorrent, sold his entire airdrop of EIGEN tokens on Binance shortly after receiving them. Tweets Claiming Justin Sun Sold EIGEN Deleted The company claimed that Sun’s team withdrew 21.66 million USDT from Binance today, indicating that the 5.374 million EIGEN tokens he received yesterday were sold at an average price of $4.03. According to EmberCN, Sun’s six associated addresses received the EIGEN airdrop the night before and immediately transferred them to HTX, a cryptocurrency exchange. From there, the tokens were swiftly moved to Binance, where they were…

The FTX estate is set to auction off a significant portion of its Worldcoin (WLD) tokens at a substantial discount, according to multiple sources familiar with the matter. The sale is part of the estate’s ongoing efforts to recover funds for creditors. Lockup Periods are the Reason for the Discounted Sale of Worldcoin Tokens The estate is offering 22.3 million WLD tokens, currently valued at approximately $37.7 million, at a discount that could range from 40% to 75% off the current spot market price. Interested buyers have until 8 PM ET on Wednesday to submit their bids. The WLD tokens…

Tether, the world’s largest stablecoin by market capitalization, has found significant utility beyond traditional cryptocurrency trading, according to its CEO, Paolo Ardoino. In an interview with Bullish CEO Tom Farley, Ardoino emphasized that USDT has become a crucial digital dollar in countries facing economic instability and high inflation rates. “USDT Offers a Stable Option in High Inflation Regions” While USDT initially served as a bridge between fiat currency and cryptocurrencies, its applications have evolved to address real-world challenges. In regions like Argentina and Turkey, where local currencies have experienced volatility, USDT has offered a stable alternative for storing and transferring…

The U.S. Securities and Exchange Commission (SEC) is facing a looming deadline to decide whether to appeal a landmark ruling in the Ripple case. According to Fox Business, the agency must make its decision by October 7. SEC Likely to Appeal in Ripple Case The July 2023 ruling by U.S. District Judge Analisa Torres found that only a portion of Ripple’s sales of XRP crypto tokens violated securities laws. This decision has been met with mixed reactions, with some legal experts praising it as a victory for the crypto industry while others criticizing it for undermining traditional securities law principles.…

A 21-year-old Indiana man has admitted to his involvement in a cybercrime scheme that resulted in the theft of over $37 million in cryptocurrency. Evan Frederick Light, of Lebanon, Indiana, pleaded guilty on Monday, September 30, to charges of conspiracy to commit wire fraud and conspiracy to launder monetary instruments. U.S. Justice Department Says It’s Determined to Crack Down on Cryptocurrency Theft According to federal prosecutors, Light was part of a group that hacked into an investment holdings company in Sioux Falls, South Dakota, in February 2022. The hackers stole personal information from hundreds of customers and then used that…

There are unconfirmed reports circulating in the cryptocurrency community that Bitwise, a prominent digital asset investment firm, has registered in Delaware for an XRP exchange-traded fund (ETF). While this information has not been officially confirmed by Bitwise or regulatory authorities, it has gained traction following a statement by journalist Eleanor Terrett, known for her coverage of XRP news, on the social media platform X. Terrett confirmed the registration without providing further details. It’s worth noting that in the past, similar claims about XRP ETF registrations have proven to be false or misleading. Given the history of false or misleading information…

Cryptocurrencies took a significant hit on Tuesday, with Ethereum briefly dipping below $2,500 and Bitcoin falling below $62,000. The decline was fueled by a combination of geopolitical tensions and economic uncertainty. Iran-Israel Conflict Caused Mild Downturn in Bitcoin and Other Cryptos The immediate catalyst for the market downturn was the firing of missiles from Iran into Israel. While investors initially anticipated a relatively muted response from Iran, the potential for a major escalation in the Middle East caused widespread concern. Lekker Capital founder Quinn Thompson explained that markets are forward-looking and tend to price in potential risks. “Even if there…