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In a milestone legal development, Ripple, the blockchain solution provider, celebrated yet another legal triumph against the US Securities and Exchange Commission (SEC) earlier this week.  On October 23, US District Court Judge Analisa Torres issued an official order, effectively dismissing the SEC’s charges against Ripple’s top executives, Brad Garlinghouse and Christian Larsen.  But while this ruling signifies a substantial victory in Ripple’s ongoing struggle against SEC allegations related to the sale of XRP (XRP) tokens, the battle is far from concluded.  Notably, the SEC now seeks hundreds of millions of dollars from Ripple in a bid to settle the contentious XRP case. What happened with the SEC? Cryptocurrency Ramp teams up with Linea to bridge zkEVM and the global financial system Cryptocurrency Crypto exchange MultiBank.io launches ‘Panic Sell’ feature for instant asset liquidation Cryptoc...

The debtors-in-possession of the FTX estate have filed a lawsuit against Sam Bankman-Fried’s parents, Joseph Bankman and Barbara Fried, accusing them of a host of fraudulent behavior at the expense of the firm — sometimes even taking on leadership roles above their son. With this lawsuit, FTX debtors aim to recover funds lost due to fraudulent transfers, breaches of fiduciary duty, and unjust enrichment for the couple’s roles with the now-defunct crypto exchange. Sam Bankman-Fried, the former CEO of FTX and largest shareholder of Alameda Research, has previously said that his parents “weren’t involved in any of the relevant parts.” Debtors-in-possession contend that’s a lie. Bankman himself may have given them the ammunition to go after the pair as early as 2018, describing Alameda Research as a “family business.” Joseph Bankman allegedly held high-level role at FTX The suit alleges that Bankman-Fried’s father, a tenured profes...

Gemini has filed a lawsuit against Digital Currency Group ( DCG ) and its chief Barry Silbert for alleged fraud . Gemini had partnered with DCG for its Gemini Earn program, which involved Gemini giving customer deposits to Genesis Global Capital, a DCG subsidiary, to be lent out in order to earn yield. Genesis Global Capital filed for bankruptcy earlier this year, several months after closing withdrawals amid the collapse of FTX and Alameda Research.  The lawsuit specifically alleges that Genesis misrepresented its risk management process by making huge loans to irresponsible counter parties, including Three Arrows Capital (3AC), motivated in part by those counter parties benefiting the Grayscale Bitcoin Trust (GBTC), another DCG subsidiary. The lawsuit details loans to 3AC totaling $2.3 billion and suggests that the collateral for this trade was valued at less than 50% of the loan total. A portion of this collateral was actually shares of GBTC. 3AC’s trading strategy during...