News

According to ChainCatcher, social media sources report that Ripple Labs CEO Brad Garlinghouse has announced that Ripple will forgo filing a cross-appeal in its case with the SEC. Ripple is ready to close this chapter completely and focus on what matters most—building the Internet of Value, as the overall direction is now set. As previously reported, Analisa Torres, a federal judge in the Southern District of New York, yesterday for the second time rejected the settlement request jointly submitted by the SEC and Ripple. The request sought to reduce the fine to $50 million and lift the permanent injunction, but the judge held that Ripple could still potentially violate the law again, so the injunction must remain in place.

ChainCatcher reports, according to The Block, that the U.S. Department of Justice has announced that 57-year-old Dwayne Golden from Pennsylvania has been sentenced to 97 months (approximately 8 years) in prison for his involvement in operating the fraudulent cryptocurrency companies EmpowerCoin, ECoinPlus, and Jet-Coin, and has been ordered to forfeit approximately $2.46 million in illicit proceeds. Dwayne Golden and his accomplices defrauded investors of $40 million through a Ponzi scheme and subsequently obstructed a federal investigation. Dwayne Golden was first charged with fraud, money laundering, and other financial crimes in March 2022.