Ripple Labs and the SEC have both filed to drop their legal appeals in a yearslong court battle over the securities classification of the XRP token. The Securities and Exchange Commission and Ripple Labs are set to end a yearslong legal battle after jointly asking an appeals court to dismiss the regulator’s appeal and the blockchain company’s cross-appeal. In a brief filing on Thursday, the Second Circuit Appeals Court recognized a joint dismissal of the SEC’s appeal and Ripple’s cross-appeal in the lawsuit over XRP (XRP), noting each party will bear their own costs and fees. “Following the Commission’s vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals,” Ripple’s chief legal officer, Stuart Alderoty, wrote to X on Thursday. Read more
From teaching himself how to code to working odd jobs in the United States after emigrating, Roman Storm’s story is anything but typical. Roman Storm, the Tornado Cash co-founder and developer, found an interest in computer software at a young age after his parents bought him a personal computer. Now, at 36 years old, he holds a guilty verdict for operating an unlicensed money-transmitting business, issued by a jury on Wednesday. He remains in limbo as prosecutors could still retry him on two additional felony counts: conspiracy to commit money laundering and conspiracy to violate US sanctions. Storm has always been drawn to “the more technical side of things,” he said on a podcast in early July, just before his trial began in a New York district court. He spent time playing video games and teaching himself how computer programs and software worked. Read more
The brothers invested an undisclosed amount in American Bitcoin, the mining company co-founded by two of Trump's sons and others. Cameron and Tyler Winklevoss, the co-founders of cryptocurrency exchange Gemini, have reportedly invested in American Bitcoin, the mining company tied to the US President Donald Trump’s family. According to a Thursday Bloomberg report citing Hut 8 CEO Asher Genoot, the Winklevoss twins invested an unknown amount in American Bitcoin, the mining company co-founded by Donald Trump Jr., Eric Trump, and others. The company said in May that it was planning to go public through a merger with Gryphon Digital Mining. The reported investment was the latest connection between the Gemini co-founders and the the Trump family, including a $2-million contribution to Trump’s 2024 campaign, attending inauguration events, and participating in a March White House crypto summit. Read more
The SEC staff guidance on liquid staking could be a boon for institutions that want to include the technology in products, but there’s still uncertainty. The US Securities and Exchange Commission’s latest comments on liquid staking have sparked a mix of optimism and concern, highlighting the regulatory gray area surrounding one of crypto’s fastest-growing sectors. While some in the industry see the nonbinding guidance as a step forward for institutional and retail adoption, others warn it leaves key legal questions unresolved and could face challenges down the line. “First, these guidelines are not law… and they could be contested at some point,” Scott Gralnick, head of institutional staking at Marinade, told Cointelegraph. Read more