crypto lawsuit Archives - Coin Engineer

SEC Status Report Released: Is the Ripple Case Over?

Yeliz Akmaca — Sat, 16 Aug 2025 13:00:40 +0000

The lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC) is nearing its conclusion after a long process. Both parties have withdrawn their appeals, signaling the end of the legal battle. However, the case has not been officially closed. XRP has been declared not to be a security, but court approval is still pending. The SEC released a status report detailing the progress of the XRP case.

This report is considered a critical step toward the official closure of the case. Once the court approves the report, the lawsuit will be formally concluded. The case, which began four years ago, targeted Ripple and its executives over $1.2 billion in XRP sales. The SEC argued that XRP was a security, impacting the token’s market price.

#XRPCommunity #SECGov v. #Ripple #XRP The @SECgov has filed a status report with the Court of Appeals noting that the parties have filed a Joint Stipulation of Dismissal of the appeals and that the stipulation remains pending and therefore awaiting approval by the Court. pic.twitter.com/X74wFRhswq

— James K. Filan (@FilanLaw) August 15, 2025

Process Following the Joint Denial of Appeals

On August 7, Ripple and the SEC jointly withdrew their appeal requests. This step is seen as an indication that the case is almost over. Ripple retracted its cross-appeal, followed by the SEC withdrawing its own appeals. Under the settlement, Ripple will pay $125 million, much lower than the initial $2 billion.

Certain restrictions on future institutional XRP sales will remain. SEC Chair Paul Atkins stated that this is a milestone for U.S. crypto regulation. A crypto community member, Sherrie, noted that the status report was submitted late. The court needed the report because it had not formally approved the joint withdrawal. This allows Ripple to continue operations while exercising its waiver rights.

The XRP case has long been closely monitored by the crypto market. The rejection of appeals and the SEC’s status report signal the official closure of the case. Ripple will now operate within a legal framework for institutional sales and fulfill registration requirements. As a result, XRP investors continue to closely follow the case’s conclusion.

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Why Is the Cryptocurrency Market Rising? Key Insights

Yeliz Akmaca — Fri, 08 Aug 2025 08:36:35 +0000

The total value of the cryptocurrency market increased by $104 billion in the last 24 hours, reaching $3.81 trillion. With this rise, the previously resistant $3.73 trillion level has now become a strong support. Bitcoin (BTC) surged past the $115,000 mark to $116,584, driven by a 20% increase in trading volume. This indicates strong buying pressure in the market.

ASR rose to $8.40, becoming the best-performing altcoin with double-digit gains in the last 24 hours. OG is currently trading at $9.60, having nearly increased by 50%. PENDLE also gained 27%, reaching $5.11.

With the total cryptocurrency market cap (TOTAL) and Bitcoin rising as market sentiment moves away from fear, investor confidence has increased.

Ripple Lawsuit and President Trump’s Crypto Moves

The legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has ended. Both parties withdrew their appeals in the Second Circuit Court, reaching an agreement. The market welcomed this development positively. Meanwhile, President Donald Trump signed two executive orders aimed at boosting cryptocurrency adoption. One order aims to prevent bank withdrawals, and the other allows crypto assets in retirement portfolios to encourage institutional investments.

These steps have given new momentum to the crypto sector and contributed to the market value increase. Furthermore, institutional interest in digital assets continues to grow.

Bitcoin Trading Volume Increase and Market Support

Bitcoin’s price rose by 2% in the last 24 hours, surpassing the $115,000 level. At the time of writing, it was trading at $116,820. Trading volume reached $67 billion, showing a 20% increase. This indicates that the price rise is supported by solid buying pressure. In other words, growing confidence among investors keeps market movements active.

Technically, the total market cap has recently surpassed the important 20-day exponential moving average (EMA), signaling a continued upward trend. However, if market sentiment weakens, the $3.73 trillion support level might be tested. Falling below this level could lead to a sharp decline to $3.57 trillion.

The increase in trading volume and institutional moves have allowed the crypto market to capture a strong bullish trend.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

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SEC Won’t Refile Fraud Case Against Richard Heart!

Yigit Taha OZTURK — Wed, 23 Apr 2025 09:00:15 +0000

The U.S. Securities and Exchange Commission (SEC) has announced it will not refile its fraud case against Richard Schueler, better known as Richard Heart, founder of Hex. In an April 21 letter to Judge Carol Bagley Amon, SEC attorney Matthew Gulde stated: “The Commission does not intend to file an amended complaint in this matter.”

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The case was previously dismissed on February 28, after Judge Amon ruled that Heart’s activities were not explicitly targeted at U.S. investors, thus falling outside the SEC’s jurisdiction.

Heart Declares Victory Over SEC

Heart took to X (formerly Twitter) on April 22 to announce that HEX, PulseChain, and PulseX had fully defeated the SEC. He described the case dismissal as a major win for open-source software, cryptocurrency, and free speech, noting that “the SEC actually sued software code itself in this case.”

The SEC originally sued Heart in July 2023, alleging he raised over $1 billion through unregistered securities offerings via HEX, PulseChain (PLS) and PulseX (PLSX).

Despite Interpol issuing a Red Notice for Heart in December 2024, and allegations of tax evasion in Finland, the case has now been dropped without further filings—marking one of the rare complete losses for the SEC in crypto litigation.

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Dohrnii Labs Accuses Blynex of Unauthorized Token Liquidation!

Yigit Taha OZTURK — Mon, 24 Mar 2025 14:30:59 +0000

Learn-to-earn platform Dohrnii Labs has accused UAE-based cryptocurrency exchange Blynex of liquidating its token assets without consent and failing to deliver on a promised loan. The company has filed a police report in the United Arab Emirates as the first step in a legal process.

In an official statement shared with Cointelegraph, Dohrnii Labs revealed that it deposited 12,649.99 Dohrnii (DHN) tokens, valued at over $500,000, with Blynex. On March 23, the company agreed to use 8,650 DHN tokens as collateral for a 30-day loan in exchange for 80,000 USDT. However, Dohrnii claims Blynex never delivered the USDT funds.

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Furthermore, Dohrnii alleges that Blynex liquidated the entire 8,650 DHN collateral on Uniswap, receiving 149,151 USDT. This liquidation reportedly caused a significant decline in the token’s market value. Dohrnii Labs also stated that they were unable to withdraw the remaining 4,000 DHN tokens from the exchange.

Blynex Defends Actions as Automated Risk Management

Mike Baskes, co-founder of Blynex, defended the exchange’s actions, claiming they were part of an “automated risk management system.” Baskes explained that their system detected a high risk of significant collateral devaluation, which triggered an immediate liquidation. He also pointed to the limited liquidity of DHN tokens, which he estimated to be around $315,000 at the time of the sale.

Despite these explanations, Dohrnii Labs argued that Blynex’s justification was misleading, emphasizing that the liquidated collateral was nearly double the loan value.

Legal Action in Progress Against Blynex

In response to the incident, Dohrnii Labs has initiated legal proceedings in the UAE and contacted local regulatory bodies such as VARA and ADGM. The company is also considering joint legal action alongside other affected projects.

Dohrnii Labs disclosed that Blynex later offered a settlement, including 80,000 USDT and the withdrawal of 4,000 DHN tokens, on the condition that all legal actions be dropped. Dohrnii Labs rejected this proposal, stating that user funds are not negotiable and the right to withdraw them should never be contingent upon legal agreements.

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Will Ripple be the Next ETF?

Yigit Taha OZTURK — Wed, 29 Jan 2025 07:30:34 +0000

Ripple Labs Chief Legal Officer Stuart Alderoty stated that the next U.S. Securities and Exchange Commission (SEC) chair, once confirmed by the Senate, could potentially withdraw lawsuits against crypto firms.

Current Status of the Ripple and SEC Case

On January 28, 2025, during an X Spaces broadcast for XRP Community Day 2025, Alderoty expressed optimism that if Paul Atkins becomes SEC chair, lawsuits based solely on registration violations and not involving fraud could be dismissed.

Ripple has been entangled in a legal battle with SEC since December 2020. In 2024, a ruling found Ripple liable for over $125 million in penalties. However, both SEC and Ripple have appealed the decision, prolonging the legal process.

Alderoty acknowledged that this process would take time but remained hopeful that the case could be voluntarily withdrawn in 2025.

A Favorable Crypto Environment Under Trump

Ripple believes that under former U.S. President Donald Trump, the crypto industry could benefit from pro-crypto policies. Alderoty highlighted Trump’s administration establishing a working group for digital asset regulations and the SEC launching a crypto task force as positive steps.

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Ripple CEO Brad Garlinghouse had previously stated that 75% of the company’s job openings would be based in the U.S. following Trump’s election.

However, it remains uncertain whether Paul Atkins will be confirmed as SEC chair. The Senate’s decision will be crucial for Trump’s pro-crypto legislative and regulatory initiatives.

Ripple’s Close Ties With Trump

The Ripple leadership team’s close relationship with Donald Trump has drawn attention. Stuart Alderoty and Brad Garlinghouse had a private dinner with Trump at Mar-a-Lago and attended his inauguration ceremony in Washington, D.C., as official guests.

Furthermore, Alderoty personally contributed over $300,000 to Trump-supporting political campaigns, while Ripple donated $5 million worth of XRP to Trump’s presidential inauguration fund.

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