Ripple vs U.S. SEC: Here’s All That Happened
Speculations that the lawsuit between Ripple and the U.S. SEC is about to end rose phenomenally this week, as Ashley Prosper, an expert on the XRP lawsuit, claimed that the SEC’s conclusive response during the remedies phase held significant importance for the case.
The United States Securities and Exchange Commission (SEC) submitted its final reply in the remedies phase on May 6. Notably, pro-XRP lawyer James Murphy criticized the reply, deeming it pointless and lacking substantial arguments about institutional investors’ financial harm.
Meanwhile, the broader industry sentiments also hinted that the SEC’s arguments in reply briefs for remedies and final judgment were weak, as Ripple CLO Stuart Alderoty reiterated. Ripple CEO Brad Garlinghouse, on the other hand, shared vital insights on hot trends surrounding Ripple, such as the firm’s operational endeavors, recent developments within the XRPL, strategies for the long-running lawsuit against the U.S. Securities and Exchange Commission, etc.
The American blockchain payments company also appears to be considering launching a stablecoin in June, as hinted by CTO David Schwartz. In the interim, XRP, the cryptocurrency backed by Ripple Labs, continued to trade sluggishly this week.
Binance’s Crypto Offerings
Whereas,Binance, one of the world’s most renowned crypto exchanges, embarked on a plethora of crypto-related developments this week. Reportedly, the U.S. DoJ (Department of Justice) called out the FRA (Forensic Risk Alliance) to monitor Binance Holdings’ activities following its money-laundering saga.
Meanwhile, Binance-related wallets were noted to have burnt 222 million Terra Luna Classic tokens (LUNC) this week. In other news surrounding the pioneering CEX, Binance CEO Richard Teng issued a plea for the release of unjustly detained Binance executive Tigran Gambaryan.
Read More: Crypto Market Headlines Today: Ripple vs SEC | Binance News | PEPE rally