The ongoing legal feud between Ripple and the U.S. Securities and Exchange Commission (SEC) took a dramatic turn this week, capturing the attention of traders and investors. Ripple, the entity behind the XRP cryptocurrency, found hope as Magistrate Judge Sarah Netburn, known for her favorable stance on cryptocurrencies, was nominated as the District Judge in the Southern District of New York on April 25.
Judge Netburn’s recent ruling set a schedule for the dispute, focusing on Ripple’s motion to dismiss the SEC’s expert submissions. The SEC was granted an extension until April 29, 2024, to respond, with Ripple given three business days to reply, sparking anticipation across the crypto community.
Binance Founder Faces Potential Prison Time
In the wake of Binance’s Anti-Money Laundering (AML) saga, the company’s founder, Changpeng Zhao, commonly known as ‘CZ,’ could potentially face a 36-month prison sentence, according to recent reports. U.S. prosecutors alleged that CZ violated AML laws on U.S. soil, with a final sentencing scheduled for April 30.
Despite stepping down as CEO in November, CZ remains embroiled in legal battles. Arguments for probation in a sentencing memorandum added further intrigue to the situation, highlighting the complexities within the crypto industry and drawing global attention.
Shiba Inu Makes Strides in Crypto Venture
Shiba Inu, often dubbed the ‘Dogecoin killer,’ made significant progress in its crypto venture this week, signaling advancements within its ecosystem. The meme token revealed plans to introduce a layer 3 blockchain, a collaboration with Zama, potentially based on Fully Homomorphic Encryption (FHE) technology, generating optimism among users.
Additionally, the Shiba Inu community unveiled intentions for a hard fork of Shibarium, aiming to enhance block processing speed and transaction fee predictability. These developments garnered substantial interest among crypto traders and investors, further solidifying Shiba Inu’s position in the market.
Collectively, the events surrounding Ripple, Binance, and Shiba Inu captivated the crypto landscape this week, underscoring the sector’s dynamism and the significance of regulatory and technological advancements.
