XRP

Ripple Labs files a major appeal against the SEC, challenging key definitions

October 25, 2024 2 mins read

Ripple Labs is taking a stand against the SEC by filing a Civil Appeal Pre-Argument Statement in their ongoing legal battle. This document, submitted on October 24, outlines the key points Ripple plans to argue in their appeal, which will be reviewed from scratch by the court. The appeal focuses on four main issues. First, Ripple challenges the SEC’s definition of an “investment contract” as outlined in the Securities Act

ZachXBT claims Chinese trader launders millions in stolen funds for North Korea’s Lazarus

October 24, 2024 1 min read

Crypto investigator ZachXBT has raised serious allegations against Yicong Wang, a Chinese over-the-counter (OTC) trader, claiming he has been laundering millions of dollars in cryptocurrency for North Korea’s notorious Lazarus Group since 2022. This hacking group is infamous for its involvement in significant crypto thefts, including a reported $35 million laundered through Cambodia in July and an accusation from the U.S. in October of stealing $879 million. ZachXBT’s investigation suggests

Ripple co-founder Chris Larsen donates $10 million in XRP to Kamala Harris’s campaign

October 22, 2024 1 min read

Chris Larsen, the co-founder of Ripple, has made headlines again by donating a substantial $10 million in XRP to Kamala Harris’s presidential campaign. This marks his second significant contribution in a short span, following a previous donation of $1 million earlier this month. Larsen is optimistic that Harris will champion technological innovation and advocate for crypto-friendly policies within the Democratic Party, especially as many in the tech sector seem to

US regulators just shut down a bank in Oklahoma

October 21, 2024 1 min read

In a significant move, financial regulators have closed the First National Bank of Lindsay in Oklahoma, marking the second bank failure in the U.S. this year. The Office of the Comptroller of the Currency (OCC) took this action after uncovering misleading bank records and signs of fraud that had severely impacted the bank’s financial stability. The OCC determined that the bank was not in a sound condition to operate, revealing

Ripple CEO Brad Garlinghouse accuses the SEC of defying court rulings on XRP

October 15, 2024 1 min read

The ongoing clash between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) shows no signs of resolution. Recently, Ripple’s executives took to social media to voice their discontent, claiming that the SEC has disregarded a recent court ruling regarding XRP. Stuart Alderoty, Ripple’s Chief Legal Officer, continues to challenge the SEC’s assertion that XRP qualifies as a security, despite a favorable ruling from the court. Ripple’s CEO, Brad

Bitnomial challenges SEC’s classification of XRP as a security

October 11, 2024 1 min read

Bitnomial, a crypto derivatives exchange based in Chicago, has taken a bold step by filing a lawsuit against the U.S. Securities and Exchange Commission (SEC). The exchange is contesting the SEC’s claim that XRP futures should be classified as “Security Futures.” This legal move comes on the heels of another lawsuit from Crypto.com, which accuses the SEC of overreaching by labeling all crypto assets as securities. Bitnomial operates under the

Crypto trader uses 11 hidden wallets to conceal $24M in meme coins while promoting them

October 10, 2024 1 min read

In a striking exposé, crypto investigator ZachXBT has unveiled the deceptive practices of Murad Mahmudov, a prominent figure in the meme coin trading scene. Utilizing 11 different wallets, Murad allegedly concealed nearly $24 million in meme coin investments while promoting these tokens to his followers. His strategy involved inflating the value of coins like SPX, which skyrocketed by 61 times, thanks to his own endorsements. ZachXBT’s research revealed that between

Digital asset firm Canary Capital files for spot XRP ETF with the U.S. SEC

October 9, 2024 1 min read

Canary Capital, a digital asset investment firm, has made waves by filing for a spot XRP ETF with the U.S. Securities and Exchange Commission (SEC), following closely on the heels of Bitwise’s similar move. This filing comes amid the ongoing legal tussle between Ripple Labs and the SEC over XRP’s classification, highlighting a growing interest in cryptocurrencies beyond the traditional giants like Bitcoin and Ethereum. Founder Steven McClurg emphasized that

Bitwise’s XRP ETF Faces Roadblocks: SEC Appeal and Political Landscape

October 5, 2024 1 min read

Bitwise recently filed for an XRP ETF, sparking discussions among industry experts about how the upcoming US election might impact its approval. The SEC’s ongoing appeal against Ripple Labs adds uncertainty, potentially delaying the ETF’s fate. Bitwise’s filing, along with another from Canary Capital, highlights a growing interest in direct crypto asset funds, although regulatory clarity remains a challenge. XRP, valued at $33 billion, is seen as a key player

Ripple’s CLO slams the SEC’s latest appeal in the ongoing XRP legal battle

October 4, 2024 1 min read

Ripple’s Chief Legal Officer, Stuart Alderoty, has expressed strong criticism of the U.S. Securities and Exchange Commission’s (SEC) recent appeal regarding XRP, which challenges a previous ruling that deemed XRP not a security. This appeal follows a ruling by Judge Analisa Torres, who imposed a $125 million fine on Ripple, significantly less than the SEC’s initial demand of $2 billion. Alderoty described the SEC’s move as disappointing and indicative of

Ripple secures in-principle approval from Dubai regulators

October 3, 2024 1 min read

Ripple has gained in-principle approval from the Dubai Financial Services Authority (DFSA) to expand its financial services in the UAE, enhancing its role in the region’s cross-border payment ecosystem. This approval allows Ripple to offer comprehensive payment solutions through the Dubai International Financial Centre (DIFC). CEO Brad Garlinghouse highlighted the UAE’s favorable crypto regulations, which have established the country as a global hub for digital asset firms. With this regulatory

The SEC has just days left to decide if it will appeal the Ripple case ruling

October 1, 2024 1 min read

The Ripple case is heating up as the SEC’s deadline to appeal approaches on October 7, 2024. Pro-XRP attorney Fred Rispoli believes there’s a strong chance the SEC will challenge the recent ruling that favored Ripple, which could limit the classification of XRP sales as securities. Rispoli estimates a 60/40 split in favor of an appeal, emphasizing the high stakes involved for the SEC. Legal experts, including John Deaton and