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On Oct. 3, United States District Court Judge Analisa Torres rejected the U.S. Securities and Exchange Commission’s (SEC’s) motion to appeal its loss against Ripple Labs, the company behind the XRP (XRP) cryptocurrency. Torres denied the SEC’s motion, claiming the regulator failed to meet the burden to show that there
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The latest price moves in bitcoin (BTC) and crypto markets in context for Oct. 4, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Original Source
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This ruling marked a crucial victory for Ripple, instantly boosting XRP’s price by almost 5%. When Ripple achieved its first victory, although a partial one, in July, the price of XRP spiked from $0.46 to $0.93 in just 10 hours, a stunning 100%+ increase. A federal judge in the United States,
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Broader crypto markets dropped 0.7% in the past 24 hours, the CoinDesk Market Index (CMI) shows. Original Source
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Crypto lawyers are seemingly divided over the significance of a recent court order from Judge Analisa Torres, which denied the United States Securities and Exchange Commission’s (SEC) plan to file an interlocutory appeal against Ripple.While many lawyers and commentators chalked the decision up as a substantive win for Ripple in
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District court judge Analisa Torres has rejected the United States Securities and Exchange Commission's (SEC) motion to file an interlocutory appeal against the recent Ripple ruling.In an Oct. 3 court order, Judge Torres denied the SEC's motion as the SEC failed to failed to meet its burden to show there
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The judge had previously ruled in July that while Ripple violated federal securities laws in selling XRP to institutional investors directly, it had not done so by making XRP available to retail customers through programmatic sales to exchanges. That decision cast doubt on how strongly securities regulators would be able
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A three-judge panel from the United States Court of Appeals for the Second Circuit has denied a motion for early release for former FTX CEO Sam Bankman-Fried, or SBF. In a Sept. 21 order, Circuit Judges John Walker Jr., Denny Chin, and William Nardini denied SBF’s motion for early release, which
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The delay is the latest in a string of disappointments for Bankman-Fried, who has failed to secure the end of his pre-trial detention since landing in prison in early August. His lawyers have argued their client can’t properly prepare his defense from jail. On the other hand, prosecutors argue he
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Former FTX CEO Sam Bankman-Fried, is scheduled to ask a 2nd U.S. Circuit Court of Appeals to order his release from a New York prison weeks before the start of a trial where he faces seven criminal charges. Bankman-Fried and his attorneys will have five minutes to convince a trio of
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