The blockchain-based payment processor has registered another win in its ongoing legal battle against the US Securities and Exchange Commission. The Judge ruled in favor of Ripple by dismissing SEC’s request to access Ripple executives’ personal bank records.
CryptoPotato reported in early March when the SEC sent subpoenas to six banks requesting personal financial information for Ripple’s CEO Brad Garlinghouse and the co-founder Christian Larsen.
The duo objected and filed a motion indicating that they had agreed to provide all necessary records relating to XRP transactions but asserted their personal finances had no relevance to the case. Furthermore, their lawyers called SEC’s move a “wholly inappropriate overreach.”
Judge Sarah Netburn has agreed with Ripple’s executives and granted their motion on Friday. She announced that obtaining such personal bank information from the defendants was unnecessary:
“The SEC’s requests and third-party subpoenas make broader requests. However, that would result in the disclosure of an immense trove of private financial information with no relevance to whether the Individual Defendants offered or sold XRP into the public market or promoted its sale to potential investors.” reads the court document.
Consequently, the ruling order the SEC to withdraw the sent subpoenas.
This marks Ripple’s second court win in a week against the SEC. Earlier this week, the Judge allowed the firm to receive access to SEC’s internal discussions about Bitcoin (BTC) and Ethereum (ETH).
It’s worth noting that the bull run of Ripple’s native digital token has only intensified after the latest court ruling. XRP traded around $1 yesterday but has skyrocketed by roughly 40% and reached a new 3-year high of $1.4 (on Bitstamp).
Tribe Capital, a venture capital firm with investments in Kraken and FTX among others in the crypto sector, is launching a $75 million crypto fund, sources familiar with the initiative told CoinDesk.The fund initially sought to raise $50 million but strong interest from investors raised the total, according to the sources. San Francisco-based Tribe Capital’s…
TL:DR; Shiba Inu’s largest native token is among those that failed to produce a new all-time high in the current cycle and even plummeted hard since December 8’s peak. However, some technical indicators are now suggesting that the asset’s real breakthrough could be just around the corner. SHIBUSD. Source: TradingView Alongside the rest of the
The Massachusetts Mutual Life Insurance Company has doubled down on its BTC endeavors through a partnership with New York Digital Investment Group. Both parties aim to enable institutional clients of the insurance behemoth to receive BTC exposure. According to the announcement dated August 11th, the insurance broker, founded a decade and a half ago, has…
On Sept. 24, Minnesota Representative Tom Emmer took aim at Gary Gensler over his “disastrous record” as Chairman of the SEC. The grilling came during a House Financial Services Committee congressional hearing. Emmer accused Gensler of expecting political allegiance from SEC staff, including civil servants; however, the SEC chair denied this claim despite email evidence to
After another attempt, Ethereum still could not overcome the key resistance at $3200, and the bears quickly took control of the market. This correlates with the overall sentiment, as the DXY index continues to rise, and high-risk assets such as US stocks indices and Bitcoin are dropping. In addition, Gold has lost 3.5% of its…
As crypto markets reignite this week, the infamous memecoin Shiba Inu is also seeing some newfound price action. However, a look at the token’s holder count wouldn’t exactly suggest a revival of consumer interest. According to data from CoinMarketCap, the number of on-chain addresses holding SHIB has declined by over 60,000 within the last two…
Despite the highly volatile month of April so far, cryptocurrency whales have kept accumulating sizeable portions. On-chain data reveals that large BTC addresses have expanded their holdings by nearly 100,000 coins in several weeks. Similar developments are seen for Ethereum (ETH) and Ripple (XRP) as well. BTC Whales Keep on Buying Although April has been…
TL;DR Dogecoin (DOGE) and Shiba Inu (SHIB) have experienced significant price increases of 30% and 10%, respectively, with analysts predicting further growth. Key factors possibly contributing to Shiba Inu’s future rally are the token burn rate and advancements related to the L2 scaling solution Shibarium. The cryptocurrency sector has rebounded in the past week, with
Bitcoin’s price surprisingly spiked higher yesterday, closing above multiple significant resistance levels. However, the main obstacle, the $30K level, remains intact. Technical Analysis By Edris The Daily Chart On the daily chart, the price has been supported by the 50-day moving average located around the $27K mark. It has rebounded from this level since, aggressively