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Ripple v. SEC end of 2024 case update

As 2024 winds down, the long-standing legal battle between blockchain company Ripple and the Securities and Exchange Commission ( SEC ) is still hanging in the balance. However, there are signs that a resolution might be on the horizon. The case is at a critical point, with key deadlines looming. Specifically, the U.S. Court of Appeals for the Second Circuit set January 15, 2025, as the date for the SEC to submit its opening brief in the Ripple appeal. This filing is pivotal, as it will outline the SEC’s legal arguments. #XRPCommunity #SECGov v. #Ripple #XRP The Second Circuit Court of Appeals has entered an Order that the @SECGov ’s brief must be filed on or before January 15, 2025. pic.twitter.com/E3TE5tBDAy — James K. Filan ???????????????? (@FilanLaw) November 1, 2024 Meanwhile, Ripple’s Chief Legal Officer, Stuart Alderoty, has clarified that the appeal isn’t about whether XRP itself is a security. Notably, back in 2023, Judge Analisa Torres ruled that XRP isn’t a security, which was a big win for Ripple and the broader crypto community. “The case is not about whether XRP, in and of itself, is a security. XRP is uniquely situated as having clarity (alongside BTC) in not being classified as a security. The SEC is not challenging that ruling which stands as the law of the land,” he said. Ripple has also filed a Form C for a cross-appeal, but Alderoty pointed out that the review will stick to the current record. From early on in the case, he’s been quite vocal about what he sees as the SEC’s “lawless tactics.” While there is no final verdict, the industry is also optimistic about a possible settlement that would end this nearly four-year saga. XRP security status After the initial victory in 2023, the likelihood of XRP being reclassified as security has significantly diminished, especially after Judge Torres ordered Ripple to pay a fine of $125 million in August 2024 for violating securities laws, far from the SEC’s $2 billion demand. Importantly, there was no finding of fraud or investor harm. If the case gets stayed, it might push the SEC to drop its appeal, potentially setting a precedent for how XRP’s programmatic sales are viewed in the U.S. digital asset market. At the same time, Ripple has questioned the relevance of the 1946 Howey Test for today’s cryptocurrencies. Some say it’s outdated, while others praise its adaptability, which allows quicker regulatory response without new laws. Ripple has insisted that XRP, like Bitcoin ( BTC ), enjoys a clear legal status in the crypto world and is not classified as a security. Impact of Trump win on Ripple case Adding a twist to this legal drama, Donald Trump’s election and his promise to support crypto might change the outlook for the legal battle. Industry insiders and legal experts are optimistic about how a Trump administration could influence this case. There’s talk that the SEC might rethink its strategy under Trump. In this line, if Paul Atkins, known for his pro-crypto stance, gets the SEC nod, he might push for dismissing the case or at least negotiate a more favorable deal for Ripple. Attorneys like Jeremy Hogan and Fred Rispoli have suggested that new SEC leadership might review ongoing crypto lawsuits, including Ripple’s. Hogan believes that non-fraud crypto cases could be settled. At the same time, Rispoli sees a settlement as likely but not a complete dismissal, predicting new leaders might find the case “idiotic” and settle on easier terms. XRP price analysis At the time of writing, XRP was trading at $2.15, down over 3% in the last 24 hours and 5.6% on the weekly timeframe. week. XRP one-week price chart. Source: Finbold The conclusion of the legal battle will be crucial for XRP’s potential growth. After lingering below $1, the token saw a bounce post-election, but wrapping up this case could be a significant boost. Featured image via Shutterstock The post Ripple v. SEC end of 2024 case update appeared first on Finbold . CoinTurk News

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Animoca Brands Founder’s X Social Media Account Hacked, Used To Promote Fake Solana Ecosystem Token

The co-founder of Animoca Brands, a leading firm in the blockchain gaming space, had their X social media account hacked and used to promote a fake Solana ( SOL ) token. In a new thread on the social media platform X, Animoca Brands – known for creating metaverse game The Sandbox ( SAND ) – says that founder and chairman Yat Siu’s X account was taken over by bad actors and used to endorse a fake token launch on Solana. “Unfortunately Yat Siu’s social media account has been compromised. There is no official token or NFT (non-fungible token) launch from Animoca Brands. The token launch on Solana as claimed in a post was made by the hacker. Please DO NOT engage with the account and stay vigilant. We will provide an update when the account is restored.” In a separate post on X, Mocaverse ( MOCA ) – the NFT collection of Animoca Brands that was said to be launching a token over SOL – says the ecosystem is safe and that better security measures are now in place. “We have confirmation that X has secured control of Yat Siu’s account and is now in the process of verifying true account ownership. The evidence seems to suggest that this was a case of stolen identity as the account had standard security implementations… There is no compromise on Animoca Brands, Moca Network or MOCA Foundation official handles, and there are strict security measures in place. As safety measures, all key members and official accounts have updated all authentications. No additional vulnerabilities or unauthorized activities were identified.” SAND and MOCA are trading for $0.561 and $0.327 at time of writing, respectively. According to blockchain investigator ZackXBT, Siu likely fell for the same phishing email scam that other blockchain executives were hit with earlier this week. “Update: Yat Siu (co-founder of Animoca) likely fell for the same phishing email a few hours ago as the scam token was deployed by the same address as the Kick and Vanar CEO ATOs.” Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Animoca Brands Founder’s X Social Media Account Hacked, Used To Promote Fake Solana Ecosystem Token appeared first on The Daily Hodl . CoinTurk News