#ripple

The U.S. Securities and Exchange Commission (SEC) has escalated its legal battle with Ripple by appealing a court decision that significantly reduced the fine from $2 billion to $125 million.

The Colorado House of Prayer has issued tokens to fund the purchase of a 19th-century stone church building, valued at $2.5 million, which their congregation has rented since 2022. This fundraising initiative is spearheaded by Pastor Blake Bush, known for his keen interest in cryptocurrencies, including investments in Ripple (XRP).

District Judge Analisa Torres of the Southern District of New York imposed a $125 million fine on Ripple, citing their sales of XRP to institutional clients as breaches of federal securities laws.

Ripple (XRP) has disclosed plans for launching its own stablecoin, which will be pegged to the dollar and backed by bank deposits along with short-term U.S. Treasury bills. This move aims to expand Ripple Payments' capabilities in facilitating cross-border transactions. The introduction of this stablecoin promises:

The Super Political Action Committee (Super PAC), Fairshake, dedicated to supporting blockchain proponents in the political arena, has received a $4.9 million boost from Gemini founders Cameron and Tyler Winklevoss, with each contributing $2.45 million. This follows previous backing from notable entities like Andreessen Horowitz, ARK Invest, Circle, Ripple Labs, and many more.

At the end of September, Ripple got a major update related to its Ripple USD (RLUSD) stablecoin. The blockchain payments company minted 800,000 RLUSD, or 99% of the total supply in 24 hours, according to an X post by XRP Ledger validator Vet.

During the weekend, hackers compromised two popular South Korean YouTube channels, tvN Drama and TVING.

A U.S. court has permitted a new lawsuit against Ripple Labs and its CEO, Brad Garlinghouse, for alleged violations of securities law. The plaintiffs in the case accuse Garlinghouse of making misleading statements during a 2017 interview, which they argue qualifies the XRP token as a security.

A new class-action lawsuit has been filed in the Northern District of California against Ripple Labs Inc., its CEO Brad Garlinghouse, and its subsidiary XRP II, LLC.

John Deaton, a prominent lawyer and cryptocurrency advocate known for defending Ripple in court, is contemplating a run as a Republican candidate in the Massachusetts Senate race. This was confirmed by political strategist Jim Conroy, who recently discussed the upcoming elections with Deaton.