Ripple Backs $25m Round for Crypto Platform Bitnomial
Ripple led a $25 million fundraising round for Bitnomial, a digital assets derivatives exchange and brokerage platform. Bitnomial revealed that Ripple, the firm that created XRP, headed the fundraising round. This occurs as Botanical, the startup’s perpetual futures trading platform, prepares for public launch. A news announcement states that Botanical is intended to provide customers […]
Coinbase Seeks Summary Judgment in SEC Lawsuit
Coinbase is seeking a court order for the SEC to release documents on how securities laws apply to cryptocurrencies. Coinbase expressed its desire for the court to order the United States Securities and Exchange Commission (SEC) to submit records that explain how securities laws delineate cryptocurrencies in a statement on Tuesday. The exchange, through its […]
Bitnomial Sues SEC Over XRP Security Claim
Bitnomial has sued the SEC, alleging it overstepped by classifying XRP as a security. Bitnomial, a cryptocurrency exchange, has filed a lawsuit against the United States Securities and Exchange Commission and its five commissioners, alleging that the agency has “overextended its jurisdiction over digital assets” by asserting that XRP is a security. In the lawsuit […]
SEC Sues Cumberland DRW for Unregistered Securities Dealer
Cumberland DRW LLC is facing allegations from the U.S. Securities and Exchange Commission for engaging in unregistered dealer activities. According to the SEC, Cumberland, a market maker for cryptocurrencies in Chicago, purchased and sold over $2 billion worth of cryptocurrency assets—including those classified as securities—without first registering as required by federal securities laws. According to […]
SEC Enforcement Director Gurbir Grewal Resigns
Gurbir Grewal left the SEC after working there for three years and completing over a hundred enforcement cases pertaining to cryptocurrencies. The director of enforcement for the U.S. Securities and Exchange Commission, Gurbir Grewal, will leave the federal regulator on October 11th, according to a statement from the agency. Grewal oversaw more than 2,400 lawsuits […]