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With the case between the United States Securities and Exchange Commission (SEC) and Ripple still waiting for its outcome, i.e., the decision on the amount of damages that the blockchain firm will have to pay over its XRP sales to institutions, the two sides continue to fire motions at each other. As it happens, Ripple’s legal team has filed a Motion to Strike new expert materials that the SEC has submitted in support of its Motion for Remedies and Entry of Final Judgement, in addition to filing its Opposition to this Motion, defense attorney James K. Filan shared on April 23. Specifically, Filan, who is also a former federal prosecutor and popular commenter on the Ripple v. SEC case, has informed his followers about the motions in question in two posts on his X profile, alongside attaching the documents that detail these motions. Picks for you DODOchain pioneers an Omni Trading Layer3 blockchain fueled by Arbitrum and AltLayer 18 hours ago When is the next Bitcoin...

Binance will pay $2.7 billion and its former CEO Changpeng Zhao $150 million. The fine is part of the $4.3 billion settlement Binance agreed with the DOJ, FinCEN, OFAC and CFTC. A US judge has approved the $2.7 billion and $150 million fine that Binance and former CEO Changpeng Zhao agreed to pay as settlement with the Commodity Futures Trading Commission (CFTC). The fine is part of the $4.3 billion settlement Binance agreed with the DOJ, FinCEN, OFAC and CFTC in November. Zhao also resigned as Binance CEO as part of the settlement, and later stepped down from the Binance.US board. Binance to pay $2.7 billion and Zhao $150 million A press release by the CFTC announced that Judge Manish Shah of the District Court for the Northern District of Illinois had issued an order approving the settlement and concluding the regulator’s enforcement action against Binance and CZ. Per the court order, Binance founder Zhao will pay a $150 million fine, while Binanc...

The judge also declined to declare CEL token “not a security,” despite related rulings in the SEC vs Ripple case. Judge Martin Glenn shot down efforts to have a special shareholders class declared in the Celsius Network bankruptcy case in a court document filed on Aug. 25. The judge also declined to settle whether or not the CEL token was a security.  In a motion filed on July 25 and heard before the United States Bankruptcy Court Southern District New York on Aug. 14, investor Otis Davis asked the court to create a legal class for investors to be considered separate from Celsius Network employees and customers. Davis also requested that the court sanction the legal team representing the Unsecured Creditors Committee (UCC) over alleged failure to disclose required information. The filing further asked the court to declare CEL “not a security” in light of the recent findings in the SEC vs Ripple where, according to Davis, Judge Analisa Torres determined that XRP was not a security. R...

Gryphon Digital is requesting dismissal from a suit filed by its former partner Sphere 3D over a scam-related Bitcoin transfer. According to Gryphon, the incident was caused by Sphere's security failures. Crypto miner Gryphon Digital is seeking dismissal from a lawsuit brought by its former partner Sphere 3D over a spoofing attack that resulted in 26 Bitcoins (BTC) being transferred to a fraudulent address. According to the initial complaint filed by Sphere 3D in April, Gryphon CEO Rob Chang allegedly wired 18 BTC in January to a fraudster posing as Sphere 3D’s chief financial officer through a spoofing attack. Within a few days, eight more Bitcoins were sent to the same address, resulting in a total loss of over $500,000 at the time. Gryphon claims, however, to be a victim of Sphere's "gross negligence" that allowed a malicious actor to access Sphere’s computer system, send spoof emails from its domain, and cause Gryphon to send cryptocurrency intended for Spher...

Sam Bankman-Fried’s criminal prosecution for alleged unlawful campaign donations won’t include testimony from former FTX co-CEO Ryan Salame. Information from an Aug. 14 filing by U.S. federal prosecutors shows that Ryan Salame plans to invoke his Fifth Amendment right. It protects him from self-incrimination if he is subpoenaed as a witness in SBF’s criminal trial. NEW — FTX executive and GOP megadonor Ryan Salame “has represented that if subpoenaed, he would invoke his Fifth Amendment right against self-incrimination.” That’s according to a motion tonight from federal prosecutors who say that he is as of now “unavailable as a witness.” pic.twitter.com/w4mbVgl8VY — Teddy Schleifer (@teddyschleifer) August 14, 2023 Former FTX CEO Sam Bankman-Fried faces eight criminal charges ranging from illegal campaign financing to conspiracy to commit wire fraud and money laundering. He is currently held at the Brooklyn Metropolitan Detention Center (MDC) after Judge Lewis Kaplan revoked ...