- Specs ⌐◪-◪
- Posts
- 10/20/23: SEC Surrenders In Landmark Crypto Case 🏆⚖️🇺🇸
10/20/23: SEC Surrenders In Landmark Crypto Case 🏆⚖️🇺🇸
Valko
October 20, 2023
Top News
🏆 SEC drops lawsuit against Ripple’s CEO and Executive Chairman
⚖️ Ethereum co-founder Joe Lubin faces lawsuit over Consensys stock
🇺🇸 US Treasury says crypto mixers are a national security threat
Help improve Specs → take this 1-min feedback survey
⌐◪-◪ → The SEC just dropped its landmark case, accusing Ripple execs of $1.3B in illegal securities sales. This comes after a 30-month legal battle, with Ripple’s CLO saying “this is not a settlement, it’s a surrender by the SEC”. While many view this as the big win crypto has been waiting for, other experts believe the SEC is simply clearing the board for an appeal. Regardless, at least the SEC is realizing that attacking crypto is politically unpopular.
⌐◪-◪ → 26 ex-employees are suing Joe Lubin, accusing him of leaving them with worthless shares in a Swiss holding company called Consensys AG - which conveniently has no exposure to their famous product, Metamask. For those of you who don’t know, Joe is the co-founder of Ethereum (yes, Ethereum) and Consensys. If there’s “crypto illuminati” this guy is definitely one of it’s ringleaders.
⌐◪-◪ → Alright, not gonna lie, I’m triggered. The US Treasury is actively seeking a desgination to label all crypto mixers, which enable private transactions, as money laundering hubs. If they pull this off, it will be a major blow to privacy worldwide. They’re using terrorist financing as an excuse to regulate crypto, despite the fact that most terrorist financing is done with fiat. Don’t fall for their tricks.
Peripheral Vision
⛓️ Crypto & DeFi
Coinbase open sources the code for Base, their Layer 2
Tether CEO sees possibility for stablecoins on Bitcoin
Tether to publish real-time reserve data starting next year
MakerDAO’s annualized revenue surged to an all-time high of $203M
🏦 Wallstreet & VC
DTCC acquires blockchain technology firm Securrency for $50 million
Crypto game Upland raises $7M from EOS Network Ventures
Ryder closes $1.2M round & launches seedphraseless hardware wallet
Bitdeer, Nasdaq-listed BTC miner, to buy back $2M of its shares
🏛️ Legal & Regulatory
Ripple's Chief Legal Officer says, “this is a surrender by the SEC”
JP Morgan expects spot Bitcoin ETFs approved “within months”
Coinbase's Chief Legal Officer says BTC ETF approval is coming soon
SBF’s defense team filed their proposed jury instructions yesterday
BlackRock submitted an amended prospectus for their ETF application
🌎 Rest of the World
Dutch activist says the coming Digital Euro will be a “totalitarian hell”
Binance onboards new fiat partners for Euro withdrawals and deposits
🖼️ NFTs & Metaverse
Azuki announces Garden Tour, a series of 5x events across Asia
Magic: The Gathering creators launch crypto game with Epic Games
New Yuga Labs CEO buys thirds Bored Ape for 50 ETH
Norman Rockwell Museum releases exclusive photos as NFTs
Angry Birds, 'The Voice', Warner Music Artists launching avatar skins
Spectacular Shoutout
Thank you so much for the shoutout, justghost.x!
I am blown away by all the public support we’re getting from our readers!
👉 To get featured here → give us a shoutout on 𝕏!
