14-10-2024

Author

Fernando Fierro
October 14, 2024

Howdy folks,

🚀⚖️ Ripple is aggressively challenging the SEC's classification of XRP as a security, accusing the regulator of defying a pivotal court ruling. CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty have criticized the SEC for overreach, emphasizing the potential consequences for the broader crypto landscape.

As tensions rise, Ripple's legal maneuvers could reshape digital asset regulation in the U.S., leaving industry watchers eager to see if Ripple will limit the SEC's reach.

In other news:

⚖️🇳🇬 The Federal Inland Revenue Service's tax evasion case against Binance remains at a standstill, with procedural hiccups impeding progress. The case, initiated in March 2024, accuses Binance of evading taxes such as VAT and Company Income Tax, while the defense argues the prosecution has not provided crucial documentation.

Despite charges against Binance executives being dropped after appointing a local agent, Nigeria's government continues its crackdown, leaving the crypto landscape in turbulence.

🚀💡 Movement Labs has teamed up with Gate Ventures and Boon Ventures to unveil a multimillion-dollar fund aimed at fostering Web3 advancements. The $20 million initiative will target four strategic areas, including integrating Move network with Ethereum-compatible ecosystems, enhancing decentralized network security, and stimulating Web3 infrastructure and application innovations.

Movement Labs co-founder Rushi Manche hailed the fund as transformational for the ecosystem, planning global hackathons and summits to further this mission.

🪙⏳ The Mt. Gox trustee, Nobuaki Kobayashi, has postponed repaying $2.8 billion in Bitcoin to creditors until October 2025, preventing an anticipated market flood. This strategic delay maintains current Bitcoin price levels, reducing fears of sudden sell-offs destabilizing the market.

While the move provides short-term stability, analysts warn of potential volatility when repayments begin, urging creditors to resolve outstanding claims swiftly.

DailyCoin Daily Meme

Hamster Kombat Clarifies Gotbit Ties Amid Market Manipulation Concerns

Hamster Kombat distances itself from Gotbit despite the market maker claiming a previous partnership with the clicker game.

Craig Wright Slams Michael Saylor’s Trillion-Dollar ‘Bitcoin Bank’ Ambition

Craig Wright disagrees with Michael Saylor’s alleged BTC promotion strategy and ambition to build a trillion-dollar Bitcoin bank.

Scroll Justifies Binance Ties Amid SCR Airdrop Backlash

Scroll’s leadership defends the project’s partnership with Binance for SCR airdrop.

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DISCLAIMER: The content provided does not constitute financial advice. This newsletter is purely educational and should not be considered as investment advice or a recommendation to buy or sell any assets or make any financial decisions. Please exercise caution and do your own research.

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