DeFI News by Thebittimes.Com

From the day the Jay Clayton-chaired Securities and Exchange Commission (SEC) filed its lawsuit against Ripple in December 2020, the final outcome has been up for debate. According to one side, commissioners would obviously prevail on the merits of SEC v. Ripple et al. In contrast, investors who appreciated the thousands of percentage point gains in XRP’s price since its Initial Coin Offering (ICO), found it hard to sympathize with the SEC’s attempt to protect investors from non-existent harm.  The lawsuit was born into controversy. Clayton resigned as chairman one day after commissioners jointly filed their SEC lawsuit, suspiciously stepping down from his term six months early. Without explaining itself, the SEC also dropped its personal charges against Ripple co-founders Chris Larsen and Brad Garlinghouse.  As litigation dragged on, certainty about any particular outcome faded. Ripple’s well-paid lawyers guided the suit through proceedings for years with no final decisi...

Ripple’s XRP token and Solana (SOL) are among the most popular cryptocurrencies in the market. While both projects have a loyal fanbase, SOL’s $72 billion market cap is more than twice that of XRP’s $30 billion. SOL is currently down by about 40.4% from its all-time high of $259.96, which it attained in November 2021. XRP, on the other hand, is down by 84% from its peak of $3.40, reached in January 2018, more than six years ago. Also Read: Neiro Coin’s 5540% Surge: Will the Rally Continue? What Is Keeping Both Assets Down? SOL took a massive hit after FTX collapsed in November 2022. The asset’s price fell below $10 in late 2022 but has since made an incredible comeback. XRP’s price has struggled to gain momentum over the last few years due to Ripple’s lawsuit with the SEC. The fintech company settled the lawsuit with a $125 million fine, and XRP does not seem to have any legal issues. Let’s find out which asset will hit a new all-time high first...

A New York District Judge approved a request by Ripple Labs to pause the $125 million penalty imposed in the company’s ongoing lawsuit with the US Securities and Exchange Commission (SEC). The order, signed by Judge Analisa Torres of the Southern District of New York, grants both Ripple and the SEC additional time to appeal the recent ruling. Despite the pause, Ripple executives, including CEO Brad Garlinghouse, have indicated they have no plans to appeal the decision. Garlinghouse hailed the ruling as a “victory for Ripple,” while the company’s legal officer, Stuart Alderoty, confirmed that Ripple would “respect the $125 million fine.” The stay in the Ripple SEC case will last for 30 days after the time the appeal expires or the resolution of any appeal in the case.  The SEC asked for $2B, and the Court reduced their demand by ~94% recognizing that they had overplayed their hand. We respect the Court’s decision and have clarity to co...

Responding to a recent piece of writing regarding a legal matter concerning cryptocurrency securities brought against Ripple Labs Inc. and the establishment of a group of investors, lawyer Fred Rispoli provided commentary that all could not be gold for Ripple. The central focus of the complaint revolves around the financial losses suffered by investors in digital tokens. Despite the company’s objections, on June 30th, Judge Phyllis J. Hamilton of the United States District Court for the Northern District of California decreed that the group did, indeed, fulfill the prerequisites for certification. …next step is summary judgment, so it is "behind" the pace of the SEC case. On a more important level, I need to do more research on what happens if XRP ruled not a security in New York but is a security in this Oakland case. @Marc_Fagel What happens here? Any res judicata? 2/2 — Fred Rispoli (@freddyriz) July 4, 2023 The legal approach undertaken by Ripple L...

Logan Paul has deleted his response video aimed at Coffeezilla and has apologized in a surprise u-turn. YouTuber Logan Paul has deleted a video in which he threatened to sue internet detective Stephen "Coffeezilla" Findeisen over a three-part series that painted Paul’s CryptoZoo project as a "scam." According to Coffezilla in a Jan. 6 Twitter post, Paul has promised to drop his threats of filing a defamation lawsuit over the videos.  Logan called me. He said he’s deleting the two responses, and is dropping the lawsuit threats. I believe he’s making a 3rd response, which I’ll be delaying my video to include. Hopefully this time he takes accountability and refunds the victims of CryptoZoo. That’s what matters. https://t.co/ElKX2d9mY0 — Coffeezilla (@coffeebreak_YT) January 7, 2023 Sharing a screenshot from the CryptoZoo Discord server, Findeisen also showed a message from Paul to user confirming he deleted his initial response to Coffeezilla’s video series and ap...