Welcome to Extreme Investor Network, where we bring you the latest updates and insights on the stock market, trading, and all things Wall Street. Today, we’re diving into some recent developments in the cryptocurrency world that have captured the attention of investors worldwide.
Ripple, the company behind the popular crypto XRP, recently received some positive news as Magistrate Judge Sarah Netburn was nominated as the District Judge in the Southern District of New York. Judge Netburn has a proven track record of being supportive of cryptocurrencies and issuing fair rulings, which bodes well for Ripple in their ongoing legal battle with the Securities and Exchange Commission (SEC).
Speaking of the Ripple vs SEC lawsuit, Judge Netburn recently set a schedule for the case, specifically addressing Ripple’s motion to dismiss the SEC’s expert submissions. The SEC has been granted an extension until April 29, 2024, to provide their rebuttal, with Ripple then having three business days to reply. This back and forth highlights the complexity of the case and the importance of the Judge’s decisions moving forward.
In other news, the founder of Binance, Changpeng Zhao, also known as ‘CZ,’ is facing potential imprisonment following allegations of violating anti-money laundering laws in the US. U.S. prosecutors have recommended a 36-month prison sentence for Zhao, who stepped down as the CEO of Binance last year. The outcome of Zhao’s sentencing on April 30 is eagerly awaited, as it could have significant repercussions for the broader crypto industry.
As the crypto space continues to evolve and face regulatory scrutiny, it’s essential for investors to stay informed and adapt to the changing landscape. Be sure to keep an eye on Extreme Investor Network for more updates and insights on all things investing and trading.
