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Founder and former CEO of Binance, Changpeng Zhao, has for the past week been locked in a war of words and threats with Massachusetts Senator Elizabeth Warren. The back and forth has the senator referring to the cryptocurrency entrepreneur as a “money launderer” and suggesting, “If Congress does not stop this kind of corruption (the pardoning of financial criminals), it owns it.” Meanwhile, a lawyer for Zhao told the New York Post, “Mr. Zhao respectfully immediately requests the retraction of these false statements, both within the resolution and on X,” adding, “Mr. Zhao reserves his right to pursue all legal remedies available to address these false statements.” CZ pleaded guilty to a criminal money laundering charge and was sentenced to prison. But then he financed President Trump’s stablecoin and lobbied for a pardon. Today, he got it. If Congress does not stop this kind of corruption, it owns it. pic.twitter.com/NsWeaJcVeK — Elizabeth Warren (@S...

The US Securities and Exchange Commission (SEC) dropped a lawsuit against Helium developer Nova Labs yesterday and has filed a joint motion with Ripple to pause its appeal against the cryptocurrency firm.  In Helium’s case, the SEC has dismissed the suit filed against Nova Labs in January this year that accused it of issuing Helium tokens as unregistered securities. This prompted Helium to proclaim, “We can now definitively say that all compatible Helium Hotspots and the distribution of HNT, IOT, and MOBILE tokens through the Helium Network are not securities.” Separate from this case, Helium had previously lied about various big-name advertisers, while Forbes discovered that its native token was mostly held by insiders . Protos also reported how Helium’s founder, during turmoil with FTX and its partner Solana, started a professional racing team. Meanwhile, Ripple and the SEC filed a joint motion on Thursday that seeks to pause the SEC’s appeal and reach a “neg...

The U.S. Securities and Exchange Commission (SEC) is officially dropping its lawsuit against Ripple Labs, according to CEO Brad Garlinghouse. In a new video update on the social media platform X, Brad Garlinghouse says that the regulatory agency is dropping its appeal in its lawsuit against the firm, which it originally filed in December 2020 for allegedly selling unregistered securities. “I’m finally able to announce this case has ended – it’s over. Sitting here today and reflecting on four years ago, it seems very clear to me that this case was doomed from the start. In so many ways, it was the first major shot in the war on crypto. I truly felt like I knew then that not only was Ripple on the right side of the law, but I felt that we were also going to be proven to be on the right side of history… Ripple is the first company with the resources, determination, and grit to fight back against the agency’s overreach, and today this journey ...

XRP has managed to carve out a dominant position in a high-demand niche for itself. In spite of that success, the longstanding lawsuit between Ripple and the Securities and Exchange Commission (SEC) has been a stone around the cryptocurrency’s neck. While the victory of Donald Trump, largely seen as the pro-crypto candidate of the 2024 election, was initially taken as a bullish catalyst. The SEC has, indeed, dropped several cases since Gary Gensler’s exit.  Most notably, under the tenure of acting chair Mark Uyeda, the SEC has dropped its lawsuit against Coinbase. However, the regulatory body’s legal battle with Ripple has yet to be concluded. Despite widespread optimism and numerous rumors, the latest official developments in the case are months old. Picks for you XRP whales load up on 150 million tokens — should you buy the dip? ...

A co-founder of Ethereum (ETH) rival Solana (SOL) is reportedly facing a lawsuit for allegedly misappropriating the income earned from his former wife’s crypto holdings. Bloomberg reports that Elisa Rossi has filed a complaint with the San Francisco Superior Court accusing her ex-husband Stephen Akridge of stealing millions of dollars worth of staking rewards gained from her Solana tokens. Staking rewards are similar to interest earned from a bank deposit. Crypto holders who participate in the staking process lock their assets for a certain period to validate blockchain transactions and earn more tokens as a reward.  The complaint says the dispute started after Akridge and Rossi filed for divorce in February 2023. Rossi alleges that from early March to mid-May, Akridge operated and controlled the accounts in issue and received all of the SOL token commissions.  Rossi says that Akridge, who served as principal engineer at Solana and is now the CEO of California-b...

The ongoing legal battle regarding Elon Musk’s connection with Dogecoin has come to an end, as investors have withdrawn their appeal. Indeed, the lawsuit had accused the Tesla CEO of manipulating the price of DOGE, accusing fraud and insider trading. However, that has officially come to an end, with investors in the cryptocurrency withdrawing their appeal. Additionally, Musk and Tesla have withdrawn their motion to sanction the opposition legal team over the lawsuit. The case was previously dismissed on August 29th, when investors had sought to continue taking legal action against Musk. JUST IN: Investors withdraw appeal and legal motion against Elon Musk, accusing him of rigging Dogecoin $DOGE and conducting insider trading. pic.twitter.com/gYQ7UPLWkf — Watcher.Guru (@WatcherGuru) November 15, 2024 Also Read: Elon Musk Says Dogecoin Flat Inflation is a ‘Feature’ Not a Bug Elon Musk Dogecoin Lawsuit Officially Ends After Appeal Withdrawal There is no denying the connec...

When the SEC revealed the untold history of Richard Heart’s crypto projects in July last year, his use of investor money was an aside. At the time, ‘Hexicans’ — fans of his flagship project, HEX — were buying tickets for the debut of his feature-length movie. Rather than question Heart’s extravagant lifestyle, many chose to focus instead on the never-before-published history of his supposed ‘blockchain certificate of deposit.’ Oddly, HEX was down 99% from its high by the time his movie premiered. Heart’s fans have always known that he, like many crypto founders, was rich and flaunted expensive purchases. Nevertheless, he had always promised his fans that his wealth came from elsewhere — his prior business from which he generated millions of dollars. However, as his ex-business partner Eric Wall explained, that was simply a tactic pulled from a book about cult leadership. “He has literally read books on how to create cults. I think it’s called The 48 Laws of Power . Th...

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...

Bitcoin’s price dropped to $25,500 after the SEC announced a lawsuit against Binance and Changpeng Zhao, a move which also has BTC bulls wondering if the bottom is truly in. Bitcoin’s price declined 5% in one hour on June 5 after the United States Securities and Exchange Commission (SEC) filed a lawsuit against Binance on allegations of violating federal securities laws. Even though the $25,500 support held for Bitcoin, investors are still digesting the potential impacts of the regulatory action, which also involves Binance CEO Changpeng “CZ” Zhao. According to digital asset investment firm Arca CEO Jeff Dorman, the direct impact of an eventual shutdown of Binance operations in the U.S. is irrelevant. Furthermore, non-criminal charges from the past should not destabilize Binance’s present international structures. Still, Arca’s CEO expects negative market sentiment to prevail as the crypto community cheers for CZ and Binance. My 2 sats on SEC vs Binance Mostly irrelevant since no o...