Cryptocurrency

2024

United

<div class="finbold">
 <p class="paragraph">With many in the cryptocurrency community eagerly waiting for the protracted legal standoff between the United States Securities and Exchange Commission (SEC) and Ripple to end, some outside developments might influence its progress and final results.</p>
 <p class="paragraph">As it happens, the SEC has also sued crypto trading platform Coinbase, but the crypto exchange responded with a motion to dismiss the lawsuit in August 2023, Judge Katherine Failla heard it on January 17, 2024, and her ruling might have a significant impact on the SEC’s case against Ripple.</p>
 <h2 class="wp-block-heading" id="h-coinbase-effect">Coinbase effect</h2>
 <p class="paragraph">Specifically, the SEC alleges that Coinbase’s proposed lending product involves securities, whereas the crypto firm refutes this claim and argues that it falls outside the regulator’s jurisdiction. Indeed, this resonates with the allegations regarding XRP, i.e., that Ripple’s sales of it fell under the securities category.</p>
 <p class="paragraph">Should Coinbase win the motion, it might undermine the SEC’s argument regarding its jurisdiction over firms and assets in the crypto sector and deter it from appealing the ruling in the Ripple case (which the regulator signaled it plans to appeal) due to the similarities between the two cases.</p>
 <h2 class="wp-block-heading" id="h-setting-record-straight">Setting record straight</h2>
 <div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8">
  <div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto">
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2024/02/02/1bff612c43ec110a5d689276fb4569f5.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="xrp-sell-off-alert-ripple-preps-huge-february-dump">XRP sell-off alert: Ripple preps huge February dump</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2024/02/02/801d3de6c82d1cb6a7cf8526e40e6877.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="can-xrp-make-you-a-millionaire-in-2024">Can XRP make you a millionaire in 2024?</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2024/02/02/e7b4f5b433d1fcfa89b3717ec3bf6f11.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="ripple-hacked-for-112-million-in-xrp">Ripple hacked for $112 million in XRP</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2024/02/02/4a1925fd85cfe9d2ab89424aa6c0a872.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="ripple-to-unlock-1-billion-xrp-amid-imminent-february-sell-off">Ripple to unlock 1 billion XRP amid imminent February sell-off</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2024/02/02/2d008a64e8e1d8840b0b70d9be68ae93.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="machine-learning-algorithm-predicts-xrp-price-for-february-29-2024">Machine learning algorithm predicts XRP price for February 29, 2024</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">Meanwhile, legal expert Bill Morgan decided to fight the “moronic FUD” (‘fear, uncertainty, doubt’) about the case that has been pushing down the price of XRP and set the record clear, pointing out several important matters, including that the settlement is out of the question.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">Now that moronic FUD about the SEC v Ripple case has started again it may be time for an <a rel="noopener noreferrer nofollow" title="update" href="https://thebittimes.com/tag/update.html">update</a> on what is really happening:<br>• The matter is not about to settle.<br> • On11th January, the SEC filed a motion to compel Ripple to disclose its 2022 and 2023 financial statements and… https://t.co/MXet8bwiJ1</p>— bill morgan (@Belisarius2020) February 1, 2024
   </blockquote>
  </div>
 </figure>
 <p class="paragraph">Furthermore, he drew attention to the fact that the SEC had filed a motion to compel Ripple to open its 2022-2023 books and post-complaint institutional contracts, to which the blockchain company replied by referring to the request as untimely and irrelevant, as Finbold reported on January 26.</p>
 <p class="paragraph">Amid several back-and-forth replies between the two sides that followed, Morgan had earlier accused the SEC of misleading the Court by incorrectly using the class action case of Zakinov v. Ripple in its Binance case, saying this happened “far too often,” which he reiterated in the recent thread.</p>
 <p class="paragraph">Finally, the lawyer stated that:</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“It seems Judge Torres needs to rule on the SEC’s motion to compel quickly as the current remedies phase timetable requires remedies-related discovery to be completed by 12 February,” as he concluded the X thread shared on February 1.</p>
 </blockquote>
 <p class="paragraph">In the meantime, the XRP token that has been at the center of this case was trading at $0.503, recording an increase of 1.88% on the day, a 3.18% decline across the previous week, and a drop of 10.89% over the past month, as per the most recent data retrieved by Finbold on February 2.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ripple-v-sec-case-update-as-of-february-2-2024-tbt78663.html">https://thebittimes.com/ripple-v-sec-case-update-as-of-february-2-2024-tbt78663.html</a></p>

Ripple v. SEC case update as of February 2, 2024

Table of Contents

TheBitTimes

Other articles published on Feb 2, 2024

US DoJ brings charges in BTC-e exchange case

Ronin (RON) Price Increases Above $3 for the First Time in Two Years – Here’s Why

DeFiance Capital Wins in Lawsuit Against Defunct Crypto Fund 3AC in Singapore

DOJ Revealed How Crypto Exchange FTX Plunged into Bankruptcy, Raising Bigger Concerns

Binance Referral Code: 37646719 (Unlock Free $600 Sign Up Bonus)

Bitcoin's $170,000 Forecast, Binance's Swiss Vault, Luxury Watches Losing the Race, and Green Ene...

Join our free newsletter for daily crypto updates!