SEC Issues Record Whistleblower Award of $279M
The U.S. Securities and Exchange Commission (SEC) has awarded its largest-ever whistleblower award to an unnamed individual, totaling $279 million. The award is more than double the previous record of $114 million and is funded by an investor protection fund established by Congress. To receive an award, whistleblowers must provide information that directly assists the SEC in successfully imposing enforcement actions on a particular case. It is unclear if this relates to a major securities violation from the crypto sector or Wall Street, and the SEC does not reveal specific details to protect the whistleblower's privacy. The SEC's whistleblower incentive program was established in mid-2010 under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Ripple CEO Praises XRP Army in Fight Against SEC
Ripple CEO made this known following a meeting with some XRP community members at the XRP Las Vegas 2023 event.
SEC Investigates Trades by First Republic Executives Before Sale to JPMorgan
The Securities and Exchange Commission is investigating the conduct of First Republic Bank executives before the government seizure and sale of the lender to JPMorgan Chase & Co., according to two people familiar with the matter.
XRP Lawyer Confident Of Public Interest Consideration By Judge Analisa Torres
John Deaton, the attorney representing XRP token holders in the SEC lawsuit, expressed confidence that the community support will work in favor of Judge Torres’ decision. He made the comment in context of speculation on Coinbase listing XRP and Ripple’s XRPL using the token.
Ripple Could Gain A New Ally Against The SEC, BitBoy
Crypto influencer Ben Amstrong, alias Bitboy, has dropped a hint regarding the ongoing XRP lawsuit. The influencer asserted that Ripple and XRP could get a new ally in the ongoing SEC lawsuit.
Coinbase Legal Chief Takes Pre-Emptive Strike Against US SEC
Coinbase's Chief Legal Officer, Paul Grewal, has cited a court precedent confirming that the "Petition Clause" protects the right of individuals to appeal to courts and other forums for the resolution of legal disputes. Grewal's statement is a pre-emptive strike against the US Securities and Exchange Commission (SEC) amid its legal fight for regulatory clarity over crypto. The move comes after a court ordered the SEC to respond to Coinbase's complaint within 10 days. Coinbase filed a lawsuit against the SEC after the regulator failed to provide clarity regarding guidelines and rules on crypto trading, listing, and staking. Meanwhile, Ripple and Coinbase's chief legal officers had a meeting offsite, as both companies face legal difficulties from the SEC.
BitBoy Mentions Potential Key Ally to XRP Against SEC
Coinbase could become a key ally for Ripple and XRP in their ongoing legal battle with the US SEC, according to BitBoy, a prominent crypto influencer. This comes after the Chief Legal Officers of Ripple and Coinbase, Paul Grewal and Stuart Alderoty, respectively, recently had a meeting. While the details of the meeting are unknown, it has led to speculation of an alliance between the two companies. Notably, Coinbase recently filed a lawsuit against the SEC, seeking regulatory clarity for the crypto industry. This move has elicited excitement within the XRP community, with many believing an alliance with Coinbase would be beneficial for both companies.
Pro-XRP Attorney Shares Information That Could Be Bullish For Ripple
Attorney Jeremy Hogan took to Twitter to share a previous ruling by Judge Analisa Torres in another case involving a crypto mining company Rio Tinto and the SEC. In the cutout of the ruling posted by Hogan, it shows that the judge previously ruled that there was no liability on the part of Rio Tinto when “the sole basis for such claims is alleged misrepresentations or omissions,” something that is also present in the Ripple case.
Coinbase Top Official Responds to XRP Relisting in Latest Interview
In a recent interview, Coinbase's Chief Legal Officer, Paul Grewal, responded to questions about the company's decision to relist XRP on its platform. Grewal stated that the decision to relist XRP was based on a number of factors, including the resolution of the SEC's lawsuit against Ripple, which had accused the company of selling XRP as an unregistered security. Grewal also noted that Coinbase had conducted its own analysis of XRP and had concluded that it was not a security. The relisting of XRP on Coinbase is seen as a significant development for the cryptocurrency, which has been embroiled in regulatory uncertainty over the past year.
SEC Postpones Ratification of Digital Asset Definition in Fund Reporting Regulations
SEC first proposed definition described digital assets as assets that are issued or transferred using distributed ledger or blockchain technology.
