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Certain class action claims in a lawsuit against Ripple and its chief Brad Garlinghouse are moving to final judgement, marking a major win for the crypto firm which may help its ongoing case against the Securities and Exchange Commission (SEC). On Thursday, Judge Phyllis Hamilton granted a move to final judgement on settled class claims and has ordered remaining unsettled claims to be paused. This decision has shortened the class action lawsuit’s timeline and has paved the way for a trial to commence on January 21, 2025. Plaintiffs in the class action lawsuit argue that Ripple sold XRP between 2017 and 2023 without registration, and in violation of federal and California securities law. Final judgement in this case may have knock-on effects in a similar lawsuit brought forward in 2020 by the SEC. Specifically, favorable ruling for Ripple could significantly aid its case against the SEC’ s claims of federal violations of securities law. Trump sells DOGE shi...

On Thursday, July 6, two men from Florida, the United States, were charged with running a bitcoin scheme worth millions of dollars. They have since settled with the Commodity Futures Trading Commission (CFTC) by agreeing to pay a little over $5 million in restitution. CFTC press charges, $5 million in settlement reached The U.S. derivatives market regulator charged Levine and Reichenthal with engaging in digital asset fraud, deceiving investors, and swindling over $5 million intended to purchase bitcoin in 2018. As part of the settlement , the CFTC has required the two individuals to pay about $5.4 million in restitution. Furthermore, they have been prohibited from trading or registering with the CFTC. You might also like: CFTC accuses Celsius of misleading investors, may file a lawsuit  The CFTC found that Reichenthal tricked investors by making false promises to obtain millions of dollars worth of bitcoin from Levine. He pretended to be a licensed attorney and esc...

While on-chain stablecoins settlements are growing rapidly, many people pointed out that comparing stablecoin settlements to Visa transactions is not fair as they represent two different things. Stablecoins play a very critical role in the crypto economy today and despite the recent run-down in the broader market, stablecoin volumes continue to dominate most exchanges. According to Coinmetrics data, on-chain stablecoin settlements reached over $7 trillion in 2022 and are expected to end the year at around $8 trillion. While the largest card network, Visa, processes ~$12tn/yr. Peter Johnson, co-head of the venture at Brevan Howard Digital, said that stablecoin settlements had already surpassed MasterCard and American Express. Furthermore, he predicted that in 2023 on-chain stablecoin volumes will surpass the Visa transaction volumes. He also noted that stablecoins volume would not only surpass Visa but most likely surpass the aggregate volume of all four major card networks (Visa, ...