Settlement

XRP surged over 5% in the last 24 hours, with trading volume up by 171%. Legal battles with the SEC and the launch of Ripple’s stablecoin are driving market speculation. XRP, the cryptocurrency affiliated with Ripple, has experienced a notable surge against Bitcoin (BTC), underscoring a significant decoupling from Bitcoin’s relatively stagnant performance. Over the past 24 hours, the XRP/BTC trading pair on Binance has risen by over 5%, marking its strongest daily performance against Bitcoin since March 11th, when…

Last week, Ripple invoked the Terraform ruling to cut down on the penalty demands from the SEC, with the agency proposing a new fine of $102 million, which Ripple wants reduced to $10 million. The XRP price has rebounded in the past week and, with a 5% gain in the past day, was the only top ten crypto in the green as most coins get off to a bad start to the new week. XRP has kicked off the week…

The post Ripple vs SEC: US SEC Pushes for $102M Settlement with Ripple as XRP Lawsuit Nears Conclusion appeared first on Coinpedia Fintech News After more than three years of legal dispute over XRP sales between the United States Securities and Exchange Commission (SEC) and Ripple Labs, the case has reached the final phase.  Following the notable change in cryptocurrency oversight by the United States government amid approaching elections, the U.S. SEC has advocated for a settlement with Ripple. Moreover,…

A United States district court judge has signed off on a $4.5 billion settlement between Terraform Labs, Do Kwon and the United States Securities and Exchange Commission.  The settlement effectively bans Terraform Labs and Do Kwon from participating in the crypto industry and also requires the parties to pay $4.5 billion in prejudgment interest, disgorgement, and civil penalties.  US Judge Signs Off On Settlement The settlement, approved by New York District Court Judge Jed Rakoff, carries substantial legal implications. It…

The post Ripple vs SEC Lawsuit: Can $2B Fine Be Reduced? Will Terraform Labs Settlement Influence Outcome? appeared first on Coinpedia Fintech News Ripple Labs has challenged the U.S. Securities and Exchange Commission (SEC) on their $2 billion fine in the ongoing lawsuit. On Thursday, the company’s attorney stated in a “notice of supplemental authority” that the penalty proposed by the SEC is excessively punitive. In addition, they brought the comparison with the recent Terraform Labs settlement, and persuaded the…

The post Terra Luna Classic (LUNC) Price Faces a Steep Uphill Ahead Following Historical US SEC Settlement  appeared first on Coinpedia Fintech News The Terra Luna Classic (LUNC) community has undergone a challenging period since the 2022 market capitulation, which wiped out over $30 billion in a single week. The historical fall of UST logarithmic stablecoins has haunted the Terra LUNC ecosystem despite rebranding to refreshed products in the recent past.  Moreover, the leadership of Do Kwon has largely been…

The post Terra Tokens Make A Move! LUNC And LUNA Tokens To Surge Amid SEC Settlement? appeared first on Coinpedia Fintech News Following the positive outcome of the 5th U.S. CPI data release yesterday, the crypto market experienced a strong bullish reversal with the market leader, Bitcoin price, adding approximately 5% to its portfolio. On the other hand, following the settlement news of Terra Labs and Do Kwon with the SEC, Terra tokens experienced strong bullish price action. However, during…

Bankrupt cryptocurrency exchange FTX has reached a settlement with the United States Internal Revenue Service (IRS).  If the settlement is approved by a judge, FTX would pay the IRS $200 million within 60 days and an additional $685 million as a subordinated claim at a later date.  A Tentative Agreement  According to a filing made on June 3, FTX and the IRS had agreed to settle their $24 billion tax dispute. The IRS had claimed that FTX owed $44 billion…

FTX agrees to an $885 million settlement on a $24 billion IRS claim, after announcing that 98% of creditors will receive 118% of their claims in cash. IRS to receive a priority claim of $200 million, with additional funds contingent on available assets. Following the recent CNF update on FTX’s bold initiative ensuring 98% of creditors receive 118% of their claims in cash, FTX has taken a decisive step by settling a substantial $24 billion tax claim with the IRS…