Bearish scenario: Ripple loses the case, and the token gets banned worldwide – In this case, Ripple will need to find a different business model, and the price of XRP can crash to the lows of around $0.15. It will be interesting to see what happens with the lawsuit, moving forward. ...
Lawsuit Filed Against FTX and Celebrity Promoters On Nov. 16, aclass-action lawsuitwas filed in a Florida federal court, alleging FTX was a fraudulent cryptocurrency scheme designed to take advantage of unsophisticated investors across the U.S. High-profile celebrities and professional athletes such ...
An SEC enforcement action isn’t always a lawsuit pursuing civil charges, which are usually filed in federal court in New York or the District of Columbia. If the SEC determines that a crypto business has violated securities laws, it can alternatively issue a cease-and-desist order. Acease-...
In response, Kraken said it disagrees with the regulator's claims and that it will vigorously defend the lawsuit. The SEC alleges that Kraken “commingled” its own funds with its clients’. This is a similar allegation already made of other crypto trading platforms. The SEC cannot and does...