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Deaton strongly refuted the idea that the lawsuit’s result was an even 50-50 outcome for the SEC, asserting that it leaned closer to a 90-10 advantage in favor of Ripple. Prominent cryptocurrency attorney John E. Deaton has offered insights into the Ripple Labs XRP lawsuit against the Securities and Exchange Commission (SEC). He contends that a settlement valued at $20 million or less would constitute a significant legal triumph for the company. In a recent X social media post, Deaton strongly refuted the idea that the lawsuit’s result was an even 50-50 outcome for the SEC, asserting that it leaned closer to a 90-10 advantage in favor of Ripple. Deaton’s remarks were prompted by a post from Stuart Alderoty, Ripple’s Chief Legal Officer, highlighting another legal setback for the SEC. Deaton’s viewpoint resonates with the sentiment in the cryptocurrency community, which generally views the suggested $20 million settlement as a positive resolution for Ripple. This assessment considers...

Binance.US has partnered with the payment startup to facilitate dollar transactions for its users. Facing mounting legal and regulatory challenges, Binance.US has sought a new alliance to address the ongoing monetary transaction issues that have plagued its operations. As part of its strategy to restore dollar transactions for its users, Binance.US has entered into a partnership with a payment provider MoonPay. For several weeks, Binance.US users have grappled with issues in both depositing and withdrawing dollars. This setback has been attributed to the severing of relationships with multiple banking associates. Today, we're excited to introduce a new $USD on-ramp! ️ Buy $USDT on https://t.co/AZwoBOgsqS through payment partners like @moonpay, which supports debit & credit card, Apple Pay, and Google Pay. ️ Sell USDT for USD to withdraw via bank transfer. Learn more & get started ️ — Binance.US (@BinanceUS) August 22, 2023 Through the MoonPay integration, Bina...

BlackRock CEO Larry Fink, who previously bashed bitcoin, now has a different view of the crypto asset and is looking to make the largest crypto by market capitalization cheaper and more accessible for investors.  Speaking in an interview with Fox Business, Larry Fink, while not going into details about BlackRock’s latest spot Bitcoin exchange-traded fund (ETF), is hopeful that regulators, in this case, the US Securities and Exchange Commission (SEC), will approve its application.  The asset manager is said to have a track record of getting its ETF applications approved and hopes that through collaboration with regulators, its bitcoin ETF filing will also get the green light. “We have a good track record working with our regulators and trying to make sure we are thinking about the issues around any filing […] We hope that like in the past we could be working with our regulators and get the filing approved one day, and I have no idea what that one day would be, b...

I understand Marc’s comment that secondary sales are an open legal question and whether a Howey analysis must be applied to secondary market transactions. But when you look at the existing case law in totality it strongly favors that you must apply Howey at each subsequent sale. https://t.co/bc2WaeGTjM advertisement — John E Deaton (@JohnEDeaton1) June 19, 2023 “If you don’t apply Howey at the time of each transaction and XRP is a SEC urity per se b/c Ripple sold to a guy named Johnny Crypto then, in effect, Johnny Crypto, his employee, the employee’s friend, Jeremy Hogan, Uphold, and TapJets are all in a common enterprise w/ Ripple ,” Deaton said referring to all the entities involved in the progression. Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read ...

Bitcoin and altcoins feel the pressure of the week's regulatory bombshells, with BTC price action steadying below the key 200-week moving average. Bitcoin (BTC) challenged three -month lows into June 10 as altcoins in particular felt the heat from United States regulatory pressure. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Altcoin bloodbath as exchanges reshape landscape Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $25,483 on the day, down over $1,200 from the previous day’s high. While showing weakness, Bitcoin was spared the fate of major altcoins, which reacted strongly to delisting that accompanied U.S. legal action against major exchanges. Trading app Robinhood announced that it would remove support for several cryptocurrencies named in the lawsuit against Binance and Coinbase by the U.S. Securities and Exchange Commission (SEC). These subsequently hemorrhaged value, with both Cardano (ADA) and Solana (SOL) down nearly 25% in ...

Ethereum could eventually fall afoul of the SEC, but at the moment, key data points suggest ETH is poised to hold the $1,800 level. Ether’s (ETH) price retested $1,780 after the news of the U.S. Securities and Exchange Commission suing cryptocurrency exchanges Binance and Coinbase but it’s not preposterous to suggest that Ether bulls should be more than happy that its price did not break below the 67-day support.  The SEC actions are actually a double-edged sword for Ethereum and on crypto Twitter, some analysts attributed the bounce in Ether as a result of it not being listed as a security in either of the cases brought against Binance and Coinbase. For instance, the SEC explicitly mentioned BNB, Solana (SOL) and Cardano (ADA), which are direct competitors to Ethereum’s smart contract processing capabilities. However, as noted by analyst Jevgenijs Kazanins, Ether’s omission does not mean that it has the green light from the SEC. SEC did not mention #ETH in the list of tokens that i...

Rochard shared a screenshot of a statement from Coinbase CEO, Brian Armstrong from far back in 2015 when he advocated a complete focus on Bitcoin (BTC) as he believed that other emerging cryptocurrencies at the time including XRP, Stellar (XLM) and other altcoins were distractions. advertisement The reminder from Rochard appears to stem from the recent spate of SEC urities designation by the United States Securities and Exchange Commission ( SEC ) on some of the industry’s biggest altcoins including Cardano (ADA) and Solana (SOL). With the conversation now gaining steam, a number of industry leaders including Twitter Founder, Jack Dorsey appears to concur on the thesis to focus on Bitcoin. Joining the conversation, Elon Musk tweeted simply saying; “Doge ftw,” a statement that simply translates to Dogecoin for the win. Recommended Articles Crypt...

Market observers pointed out that CFTC goes after the bigger fish, and its regulatory action often proves fatal for the crypto companies. The United States Commodity Futures Trading Commission (CFTC) sued crypto exchange Binance for violations of trading and derivatives laws. The lawsuit, filed on March 27, alleged that the global crypto exchange offered its derivatives trading services to U.S. customers without applying for a derivatives license. The lawsuit from the commodities watchdog in the U.S. took many by surprise with market observers and reporters claiming it to be a political move. Eleanor Terrett, a Fox news reporter tweeted that sources close to the CFTC suggest the commodities regulator decided to go for a lawsuit in order to show the Securities and Exchange Commission (SEC) that this is a commodities issue rather than a securities one. than a securities one. They also say "Vegas odds" have the @SECGov rushing out a similar lawsuit against @ Binance as a count...