SEC Dismisses All Charges Against Ripple Executives

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The US Securities and Exchange Commission (SEC) has dropped all charges against Ripple’s CEO, Brad Garlinghouse, and co-founder Chris Larson. 

The US SEC, in its relentless pursuit against Ripple, $XRP, Brad Garlinghouse, and Chris Larson, dropped the claims against the two executives. In its infamous case against Ripple Labs, the SEC alleges that two of its executives violated US securities laws. 

In December 2020, the SEC filed a lawsuit accusing Ripple of illegally raising over $1.3 billion through an unregistered securities offering by selling $XRP. 

After long and drawn-out proceedings, Ripple received a partial victory in the matter in July. Judge Torres ruled that the sale of XRP on public exchange did not constitute an unregistered securities offering and further rejected the SEC’s request to appeal the ruling.

In a press release, which described the filing as a “surrender” by the SEC,  CEO Brad Garlinghouse commented:

“Instead of looking for the criminals stealing customer funds on offshore exchanges that were courting political favor, the SEC went after the good guys – along with our entire company of innovators and entrepreneurs – who are building a regulated business based in the US We look forward to the day this chapter is closed once and for all, now that the SEC has dropped the curtain on their absurd theatrics against Chris and me.”

Binance Restores Euro Services After Finding New Fiat Partners

Crypto exchange Binance has announced it has onboarded new partners to handle euro deposits and withdrawals, one month after losing its previous fiat partner, PaySafe, in September. 

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In an Oct. 19 statement, Binance announced it had signed agreements with new fiat partners for euro payments, deposits, and withdrawals.

The move follows regulatory and debanking woes in the European Union, where the firm was forced to look for new banking partners after losing support from PaySafe in September.

Binance said users have already started migrating to the new services provided by “a number of new regulated and authorized fiat partners.” It did not specify which firms it had partnered with, however.

More EUR fiat channels have arrived on #Binance

We’re proud to announce that we’ve entered into agreements with multiple new EUR partners to provide deposit, withdrawal, and payment services, making your experience even more seamless.

Find out more https://t.co/jKh2QxH3sN— Binance (@binance) October 19, 2023

Atomic Wallet Freezes $2M in Suspicious Deposits

Hacked cryptocurrency wallet Atomic Wallet has frozen $2 million in “suspicious deposits” in a joint effort with major crypto exchanges.

Announcing on Oct. 19, Atomic Wallet said that blockchain intelligence firms Chainalysis and Crystal have assisted the wallet firm in identifying and containing the threat.

Citing reports from Chainalysis and Crystal, Atomic Wallet reported that the “threat actor” used sophisticated methods to bridge the funds to the Bitcoin blockchain, including bridges and mixers. “Most funds have ultimately ended up on the Tron blockchain and Bitcoin network,” the report reads.

The report specifically mentioned that the funds were bridged through the Avalanche bridge and then to the Tron blockchain.

“Atomic Wallet extends heartfelt gratitude to the centralized cryptocurrency exchanges collaborating promptly to freeze assets linked to reported transactions. Their swift response and cooperation were pivotal in mitigating the impact of the incident that happened to some users,”

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