Chain News Today TheBitTimes.com

Ripple’s chief legal officer said no “extraordinary circumstance” in the case exists which warrants the Court to accept the SEC’s request for leave. Ripple Labs has voiced its opposition towards the United States securities regulator’s move towards filing an interlocutory appeal relating to the summary judgment laid down by U.S. District Court Judge Analisa Torres on Jul. 13. In an Aug. 16 letter to Torres of the Southern District of New York, Ripple’s lawyers explained that because the Securities and Exchange Commission failed to satisfy elements of the Howey test relating to Ripple’s distribution of XRP — a “legal question” — the Court should reject the SEC’s motion for leave to file an interlocutory appeal. An interlocutory appeal occurs when a ruling by a trial court is appeal ed while other aspects of the case are still proceeding and are only allowed under specific circumstances. Ripple’s lawyers believe it is more appropriate for the SEC to appeal the Court’s ruling after a f...

Sam Bankman-Fried, co-founder of defunct crypto exchange FTX, is fighting a US prosecutor’s attempt to revoke his $250 million bond and put him in jail. The request was made in response to the New York Times’ publication of excerpts from Caroline Ellison’s diary, who was the former CEO of the FTX-affiliated hedge fund Alameda Research. In the case against Bankman-Fried, Ellison has already pleaded guilty to fraud and is working with the prosecution. The prosecutors claim that Bankman-Fried gave the newspaper the journal entries and spoke with the writer who wrote the story to intimidate Ellison, who might be called a witness during his trial and possibly sway the jury. You might also like: FTX’s former CEO SBF allegedly leaked ex-lover’s diary Bankman-Fried’s attorneys responded by asserting that his interactions with the reporter were not intended to threaten Ellison or affect the jury pool. In its place, they argued that he had the right to offer...