Markets
Crypto Market Headlines Today: Ripple vs SEC | Binance News | PEPE meeting
Ripple vs US SEC: Here’s Everything That Happened
Speculation that the lawsuit between Ripple and the US SEC is about to end has increased phenomenally this week, as Ashley Prosper, an expert in the XRP processargued that the SEC’s conclusive response during the remedies phase had significant importance to the case.
The U.S. Securities and Exchange Commission (SEC) filed its final remedy phase response on May 6. Notably, pro-XRP lawyer James Murphy criticized the response, calling it useless and lacking substantial arguments about the financial harm to institutional investors.
Meanwhile, broader industry sentiment also suggested that the SEC’s arguments in the response summaries for remedies and final judgment were weak, as Stuart Alderoty, Ripple’s CLO, reiterated. Ripple CEO Brad Garlinghouse, on the other hand, shared vital insights into trends surrounding Ripple, such as the company’s operational efforts, recent developments within XRPL, strategies for the long-running lawsuit against the US Securities and Exchange Commission. USA, etc.
The American blockchain payments company also appears to be considering launching a stablecoin in June, as suggested by CTO David Schwartz. In the meantime, XRP, the cryptocurrency backed by Ripple Labs, continued to trade slowly this week.
Binance Crypto Offerings
While,Binance, one of the most renowned crypto exchanges in the world, embarked on a plethora of crypto-related developments this week. Reportedly, the US DoJ (Department of Justice) has called on the FRA (Forensic Risk Alliance) to monitor the activities of Binance Holdings following its money laundering saga.
Meanwhile, Binance-related wallets were noted to have burned 222 million Terra Luna Classic (LUNC) tokens this week. In other CEX pioneer news, Binance CEO Richard Teng has issued a call for the release of wrongfully detained Binance executive Tigran Gambaryan.