Ripple's Chris Larsen shared on X that his personal wallets had been hacked and funds had been stolen, saying that Ripple accounts were not compromised and that exchanges had frozen affected addresses.
The U.S. securities regulator has requested a federal judge compel Ripple to produce more financial statements related to institutional sales of XRP, which were deemed illegal securities offerings in a 2023 ruling.
2023 is a challenging year for the digital asset space, with major firms collapsing, high-profile names getting into lawsuits, and regulators rushing to balance innovation and regulation.
Following a lengthy investigation into the Terra collapse, Terraform Labs and Do Kwon filed a motion to dismiss the SEC case, claiming that the probe didn't yield any result proving their misdeed.
The next step in the SEC v Ripple case is to see what Ripple ends up paying for its sales of XRP and if the SEC decides to appeal the earlier ruling.
As Ripple prepares to head to trial against the U.S. securities regulator, another of its executives, Kristina Campbell, decides to exit the firm following a whirlwind of intense regulatory scrutiny.
Judge Analisa Torres set a trial date for April 23, 2024, for the remaining issues on the SEC v Ripple case, with both parties expected to submit pretrial filings by the end of the year.
The Securities and Exchange Commission argued that assets listed on Coinbase exchange clearly amount to securities under U.S. law.
Ripple's Brad Garlinghouse recently declared that Fortress Trust's Purcell had "built an impressive business with recurring revenue and a strong roster of both crypto-native and new-to-crypto customers."
A recent hearing at the Senate Banking Committee saw Gary Gensler grilled on the SEC's track record, highlighting contrasting attitudes toward the work of the securities regulator and its Chair.
The latest SEC submission to the U.S. District Court comes as a rebuttal to a September 1 filing by Ripple, which asserted that an appeal delayed the resolution of the overall case.