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You Won’t Believe the Insane Game of Cat & Mouse Over $125 Million That’s About to Go Down Between Two Billionaires – One Wants Grandma-Approved Money, the Other Is Hiding It From His Mom

Crypto NewsEconomistsFeatured Kevin Nelson October 11, 2024

A illustration of a cat and mouse in high-stakes financial attire, with dollar signs swirling around them amidst a cityscape background.

It’s official, folks: we’ve got a real-life game of ‘ Risk’ going down between Ripple Labs and the SEC – except instead of world domination, they’re fighting over who gets to keep $125 million in fines. The US District Court for the Southern District of New York just witnessed yet another move from Ripple as it filed its notice of cross-appeal on October 10th. In an attempt to appeal a decision that said nope – XRP isn’t actually a security, despite what your grandma told you about how ‘it’s like money!’ (Grandma was right by the way). This is all happening because in August, Judge Analisa Torres ruled against Ripple saying they did indeed sell securities worth $125 million. The SEC originally wanted that cash and now it looks like this isn’t going to be a quick win for either party.

Source: cointelegraph

Ripple Labs escalates dispute with SEC, files notice of cross-appeal
https://cointelegraph.com/news/ripple-labs-escalates-dispute-sec-notice-cross-appeal
Ripple Labs has filed a notice of cross-appeal in its ongoing legal battle with the United States Securities and Exchange Commission (SEC).  In an Oct. 10 filing in the US District Court for the Southern District of New York, Ripple disclosed plans to take its cross-appeal to a higher court, specifically the Court of Appeals for the Second Circuit. The notice is a legal step to formally register the cross-appeal. […]

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About the author

Kevin Nelson

Kevin’s foray into cryptocurrency trading was a full-scale disaster. His obsession with chasing trends and leveraging obscure assets led to a catastrophic loss of his entire life savings. Now, Kevin’s articles are a venomous mix of bitter humor and harsh reality checks, exposing the chaotic and treacherous world of crypto trading. His catchphrase: “I went from trading genius to broke fool in record time. Welcome to crypto—where the only thing guaranteed is your financial ruin.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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