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Credit Suisse Group AG is facing a lawsuit that has been granted additional class status for investors regarding alleged market manipulation that affected the value of exchange-traded notes linked to a volatility index. While class certification was approved for Securities Act claims, Judge Analisa Torres ruled that class status is not appropriate for claims based on alleged misrepresentations under the Securities Exchange Act.
Ripple's ongoing legal battle with the SEC, initiated in December 2020 over allegations of unregistered securities sales of XRP, has seen accusations of unethical tactics from the agency, including harassment of Ripple's CEO. While Ripple has achieved some partial victories, including a recent ruling favoring its retail sales, the SEC's appeal has delayed a final resolution. Changes in SEC leadership could potentially benefit Ripple, but the complexity of the case warrants cautious optimism.
Legal expert Jeremy Hogan predicts that the SEC's lawsuit against Ripple could conclude by April or May of 2025, especially with the upcoming leadership change at the SEC. Despite the SEC's recent appeal against a favorable ruling for Ripple, Hogan believes the case's lack of fraud or investor harm may expedite a settlement. If resolved positively, XRP's price could surge, potentially reaching $4, surpassing its previous all-time high.
Bitcoin (BTC) recently traded near $97,000, experiencing a 3% dip from its all-time high, amidst a market correction that saw over 5% of total cryptocurrency market cap lost. Despite bearish trends, some indicators suggest BTC may not have reached its cycle peak.Ripple (XRP) has been consolidating since a significant drop in May 2021, with a notable ruling in its favor against the SEC in August, yet prices remained stagnant until November. Meanwhile, Ethereum (ETH) is showing signs of recovery as buyers return, potentially stabilizing as the holiday season approaches.
The ongoing legal battle between XRP and the SEC is pivotal for the future of digital asset regulation, with significant implications for Ripple and the broader crypto market. Under SEC Chair Gary Gensler, the commission's aggressive stance has led to numerous enforcement actions, impacting exchanges and institutional interest in XRP, particularly for cross-border payments. As XRP's trading volume surges and institutional adoption increases, analysts predict a transformative period for the cryptocurrency landscape, especially with potential regulatory shifts on the horizon.
Ripple CEO Brad Garlinghouse made headlines with his appearance on "60 Minutes," where he defended XRP and criticized regulatory stances, particularly from former SEC official John Reed Stark, who labeled cryptocurrency as speculative and a security. Garlinghouse highlighted a recent ruling that stated XRP's sales to retail investors do not constitute securities transactions, contrasting Stark's views. The segment sparked a heated debate on social media, reflecting the ongoing divide in perspectives on cryptocurrency's role and regulation.
Analisa Torres
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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