Recently, the CEO of Binance stepped up to defend his highly popular cryptocurrency exchange. According to the latest news, Changpeng Zhao, aided by Binance.US lawyers, has asked the court to dismiss the US SEC's lawsuits. Let's break it down!
Crypto Ripple (XRP) has just undergone a most notable judicial jolt. While it had been sailing on calmer waters since mid-July, the recent verdict by New York federal judge Jed Rakoff has propelled XRP into a whirlwind of uncertainty. Indeed, at the heart of the Terraform Labs-SEC trial, he ruled that crypto Ripple (XRP) was a security. This decision has disrupted and blurred the bearings of many players on the crypto market.
Judge Analisa Torres' verdict was clear: XRP is not a security. A great victory, chanted the crypto community, who saw the SEC's recent attacks as a vendetta. But there's a twist. The U.S. regulator counted a direct sale of XRP to investors to the tune of $728.9 million. In such a context, Ripple's token becomes a security once again. A cold shower for the cryptosphere.
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