havilo71

@havilo71

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This means that, in some sense, Ripple needs the case to continue to obtain a favorable ruling. While it is possible that it could convince the SEC to join it in seeking to vacate Torres’ judgment, it is not obvious that Torres would agree to do so.

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Unlike Coinbase, which was still pending pre-dismissal, Ripple reached a final judgment. This means that if the SEC stopped fighting, the outcome would not be a Ripple victory but a $125 million fine and a five-year “bad actor” prohibition on security fundraising that Judge Torres imposed on Ripple.

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The truth of the Ripple mystery is that why the case is still pending is unknown. No SEC staff member or Ripple attorney has commented. However, there are a number of possible explanations worth considering.

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In light of what is widely perceived as a clientelist White House, all of this suggests that Ripple should be first in line for SEC favor. Yet the case remains unresolved. What could possibly be happening?

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While it is impossible to know for sure, it does seem that these gestures have inspired warm feelings among the MAGA inner circle. In February, Trump’s son, Donald Trump Jr., followed Ripple on X. More recently, on March 2, Trump named XRP as one of five cryptocurrencies to be included in a Strategic Crypto Reserve.

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Secondly, Ripple seems to be in the White House’s good graces. Ripple has publicly courted Trump’s favor in recent months. This included a meeting between Ripple CEO Brad Garlinghouse and Trump in Mar-a-Lago before his inauguration and a reported contribution of $5 million in XRP to Trump’s inauguration fund.

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On Jan. 23, US President Donald Trump signed an executive order that pledged to promote the US dollar’s sovereignty, “including through actions to promote the development and growth of lawful and legitimate dollar-backed stablecoins worldwide.” On the other hand, the order banned the development of CBDCs in the US.

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Bybit was exploited on Feb. 21 in what has been reported as one of the largest cryptocurrency hacks in history, allegedly orchestrated by North Korea’s Lazarus Group. Despite the attack, Bybit replenished the stolen crypto assets and maintained operations without major disruption.

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The crypto industry has provided Bybit with $390 million in emergency liquidity through loans and transfers, including $127 million from Binance-linked whales and $53 million from a single whale wallet, according to Lookonchain.

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“The current meta of memecoin grifting is a direct result of the historical failure and corruption of Gary Gensler’s SEC,” Chainlink proponent Zach Rynes wrote on X on Feb. 17.

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Puckrin isn’t alone in urging regulators to take responsibility for the surge of fraudulent memecoins.

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“It doesn’t help that the SEC appears to be washing their hands of memecoins,” Puckrin said, adding:

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Puckrin mentioned that he’s a major proponent of the original model of initial coin offerings (ICO), which has been effectively abandoned for years due to the SEC’s crackdowns.

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“The ecosystem isn’t able to regulate itself,” he said, adding that “memecoins cannot remain an unregulated Wild West.”

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The crypto industry, particularly memecoins, needs clear regulation to ensure that token launches are conducted in a fair manner, Puckrin said.

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SEC crypto task force head Hester Peirce previously said that memecoin regulation falls outside of the agency’s purview, leaving this matter for Congress and regulators like the Commodity Futures Trading Commission (CFTC).

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At its height, TRUMP was valued at more than $73. It has since plunged to below $40.

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On Jan. 17, Trump’s official memecoin launched on the Solana blockchain, triggering a flurry of activity as traders scrambled to capitalize on the opportunity. In just 48 hours, the TRUMP token became the 15th-largest cryptocurrency in the world

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This week’s Crypto Biz explores Trump’s wild first few days in office, recent crypto purchases from World Liberty Financial and a new AI venture that could cement America’s leadership role in artificial intelligence.

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