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Today’s Cryptocurrency Market Headlines: Ripple vs SEC | Binance News | PEPE rally
Ripple vs US SEC: Here’s everything that happened
Speculation that the lawsuit between Ripple and the US SEC is coming to an end has increased phenomenally this week, as Ashley Prosper, an expert on the XRP lawsuitargued that the SEC’s final response during the remedial phase was of significant importance to the case.
The US Securities and Exchange Commission (SEC) submitted its final response in the corrective phase on May 6. In particular, pro-XRP lawyer James Murphy criticized the response, deeming it useless and lacking substantive arguments on the financial harm to institutional investors.
Meanwhile, broader industry sentiments also hinted that the SEC’s arguments in the response briefs for remedies and final judgment were weak, as Ripple CLO Stuart Alderoty reiterated. Ripple CEO Brad Garlinghouse, on the other hand, shared vital insights into the hot trends surrounding Ripple, such as the company’s operational efforts, recent developments within XRPL, strategies for the long-running lawsuit against United States Securities and Exchange Commission, etc.
It seems that the American blockchain payments company is also considering the possibility of launching a stablecoin in June, as suggested by CTO David Schwartz. Meanwhile, XRP, the cryptocurrency backed by Ripple Labs, continued to trade slowly this week.
Binance Cryptocurrency Offerings
While,Binance, one of the world’s most renowned cryptocurrency exchanges, embarked on a series of cryptocurrency-related developments this week. The US DoJ (Department of Justice) has reportedly called in the FRA (Forensic Risk Alliance) to monitor the activities of Binance Holdings following its money laundering saga.
Meanwhile, Binance-linked wallets were noted to have burned 222 million Terra Luna Classic (LUNC) tokens this week. In other news regarding the pioneering CEX, Binance CEO Richard Teng has called for the release of wrongfully detained Binance executive Tigran Gambaryan.