XRP Token Soars 28% After Judge Rules XRP is Not a Security in Ripple Case with SEC
The XRP token of Ripple Labs saw a surge of 28% on Thursday following a court ruling in an ongoing lawsuit, as reported by CoinGecko. The Securities and Exchange Commission's motion was granted and denied in part, as was Ripple's motion. The case will proceed to trial, with issues that were denied summary judgement being raised at the trial. The court concluded that Ripple's Institutional Sales of XRP violated Section 5 of the Securities Act, while its Programmatic Sales did not constitute the offer and sale of investment contracts.
SEC Files Securities Fraud Lawsuit Against Celsius Network and Former CEO Alex Mashinsky
Alex Mashinsky, the former CEO of bankrupt crypto lender Celsius, was reportedly arrested on July 13 following an investigation into the company's collapse. The news came shortly after the SEC filed a lawsuit against Celsius on the same day. This follows the SEC's recent lawsuits against crypto exchanges Binance and Coinbase. Celsius network has not yet responded to requests for comment. This is a developing story and more information will be added as it becomes available.
Coinbase Cites Recent Supreme Court Ruling on Student Debt Cancellation in Defense Against SEC Charges
Lawyers for Coinbase argued in a legal filing that a recent U.S. Supreme Court judgment on student debt cancellation supports their fight against charges of operating an unregistered securities venue.
SEC Chairman Casts Doubt on Coinbase's Role in Bitcoin Spot ETF Approval Process
The approval of a Bitcoin spot ETF in the US is facing a new obstacle as SEC Chairman Gary Gensler has raised doubts about Coinbase's surveillance sharing agreement (SSA) and its role in the approval process.
Attorney Deaton Says Hinman Docs Release Impacts SEC Case Against Ripple Executives
According to attorney John Deaton, the release of the Hinman documents makes it impossible for the SEC to argue that Ripple executives Brad Garlinghouse and Chris Larsen were reckless in distributing XRP.
Mike Novogratz: Approval of Bitcoin ETF Would Be "Seal of Approval" from US Government
Mike Novogratz, founder of crypto investment firm Galaxy Digital, believes that the approval of a spot Bitcoin ETF by the SEC would be a "seal of approval" for Bitcoin from the US government. He also sees the multiple ETF filings, including one from BlackRock, as a signal that adoption is coming.
Coinbase and SEC to Face off in Pre-motion Hearing
Legal sources have told Cointelegraph that the pre-motion hearing between the SEC and Coinbase, originally scheduled for August but now set for July 13, will provide insight into the tone and potential impact of the litigation on the wider crypto industry.
SEC's Legal Actions Could Require More Traders to Register with Regulator, Raising Concerns Among Critics
The SEC is expanding its regulatory reach by altering business registration rules through legal action, as seen in the case of Ibrahim Almagarby. The agency's new interpretation of the rules could make trading more challenging for individuals and firms, potentially affecting day traders and those trading in Treasuries.
XRP's Price Hovers on Crucial Line Amid Potential Impact of U.S. CPI Data and LBRY Lawsuit Loss
XRP's price is currently at a critical point that will determine whether it will break out or experience a sell-off. While Bitcoin and Ethereum are experiencing gains, XRP is only up by 0.1%.
Coinbase Shares Jump 16% on News of Surveillance-Sharing Agreement with Cboe for Bitcoin ETFs
Shares of Coinbase Global Inc (NASDAQ: COIN) surged by 16% following news of a surveillance agreement with Cboe's BZX Exchange for five Cboe spot Bitcoin exchange-traded funds. The agreement allows the BZX Exchange to access Coinbase data on spot BTC trades for market surveillance and fraud prevention.
