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This Week on Unchained: Ripple Ruling Implications, SEC's Appeal?, and More!
ALSO: Razzlekhan couple plead guilty š²
The couple are pleading guilty to laundering of bitcoins stolen in 2016 from Bitfinex. According to a source, their sentences could be reduced due to good behavior.
If the SEC wants to appeal last weekās judgment in the Ripple case, it better act fast. So says Bill Hughes, regulatory chief at Ethereum booster ConsenSys and one of the many crypto policy pros assessing the ramifications of U.S. district judge Analisa Torresā decision.
The regulatory agencyās decision to appeal hinges on a number of factors, Hughes says, including that this Supreme Court will likely be unkind to SEC Chair Gary Genslerās interpretation of how to regulate crypto. But of course, a political calculus is also in play, and suddenly U.S. lawmakers have a slew of crypto bills and amendments to choose from. How will it play out?
XRP isnāt itself a security; it depends on how itās sold. So said a federal judge last Thursday in the SEC vs. Ripple case and the implications are significant.
Jake Chervinsky, chief policy officer at the Blockchain Association, and lawyer Kayvan Sadeghi, partner at Jenner & Block, join the show to discuss two major ramifications. One: U.S. District Judge Analisa Torres dealt a major blow to the legal theory underpinning the SECās case against Coinbase. Two: This order really ālights a fireā under U.S. lawmakers to act on a pair of crypto bills in Congress.
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The SEC Chairman said he was ādisappointedā with the court rulingās ruling on XRP with respect to retail investors, but the regulator was still ātaking a look atā the decision.
Creditors of the bankrupt crypto firm allege that BlockFi loaned enormous sums to Alameda, collateralized by FTT tokens, despite being privy to the same balance sheet that set off alarm bells before FTXās collapse.
If nobody controls a DeFi service, anyone who invests more than $25 million in developing the project will be responsible for these obligations, stated the bill.
Lawyers for the bankrupt crypto exchange alleged that Sam Bankman-Fried, Caroline Ellison, Gary Wang and Nishad Singh made over $1 billion worth of fraudulent transfers between February 2020 and November 2022.
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