#REXBOX –

United States District Judge Jed Rakoff,  who is overseeing the Securities and Exchange Commission (SEC) case against Terraform Labs, has expressed contrasting views regarding the approach used in last month’s ruling in the agency’s case against Ripple (XRP).

New Twist in the Tale

A new drama seems to have erupted in the ongoing lawsuit between the SEC and Ripple, the makers of XRP. Last month, Ripple notched a dramatic win against the American watchdog after Judge Analisa Torres ruled partially in favor of the company ruling that the XRP token is not a security when sold to the general public , but only in regards to programmatic sales on digital asset exchanges.

Despite the recent court decision, Rakoff, firmly rejected the distinction made in the Ripple lawsuit between public and institutional sales, delivering a significant blow to the ruling. In his view, the Howey test does not differentiate between purchasers based on the origin of their coins, as all purchasers could reasonably expect that they will profit based on the defendants’ efforts.

Judge presiding over SEC/Terraform Labs case in new court filing rejects approach taken in Ripple ruling. Says he won’t distinguish between crypto assets based on how they’re sold — ie directly to institutional investors versus to retail investors on exchanges. 

— Ally Versprille (@allyversprille) July 31, 2023

According to Rakoff, the method of sale, whether directly to large, institutional investors or via secondary market transactions to retail investors, shouldn’t affect whether or not those coins are considered securities. It seems, Rakoff’s views provide an alternate interpretation of how cryptocurrencies should be classified, taking into account other properties of the given asset instead of the manner of sale.

Judge Rejects Motion to Dismiss Terraform Case

The twist in the Ripple vs SEC started after the District Judge allowed the SEC to proceed with its case against Terraform Labs and founder Do Kwon. On August 1, John Reed Stark, a former SEC attorney in the agency’s Enforcement Division, took to Twitter to reveal Rakoff’s ruling on Terraform Labs’ motion to dismiss the SEC’s lawsuit against them.

Newsflash: Ripple Decision Already in (Big) Trouble

SDNY District Judge Jed Rakoff today allowed the SEC to go forward with its case against Terraform Labs and founder Do Kwon. In doing so, Judge Rakoff specifically rejected the distinction made in the Ripple case between public…

— John Reed Stark (@JohnReedStark) July 31, 2023

He denied Terraform Labs’ motion to dismiss the SEC lawsuit, asserting that the regulatory watchdog has jurisdiction and a plausible claim that TerraUSD (UST), the Anchor Protocol, and LUNA may have violated securities laws. Following the decision, Rakoff also noted the cryptocurrency industry does not have the same “vast economic and political significance” as other regulated industries.

It is likely, if Rakoff’s view is found persuasive, the SEC will have a commanding support in its raging war against the digital assets industry. This might also bolster the regulatory’s conviction to appeal Judge Analisa Torres’ recent court ruling in the XRP case.

In the wake of the SEC’s lawsuit filings against Coinbase and Binance last month, alleging violations of securities laws, the United States is proving to be a challenging terrain for cryptocurrency companies. 

Ripple CTO Weighs in on the Ruling

In response to the recent ruling, Ripple’s CTO, David Schwartz, expressed his reservations,, noting that the decision seemed to rely on the unique properties of Terraform Labs’ scheme rather than the general characteristics of cryptocurrencies.

This ruling seems to be based no some very unsual properties of this particular scheme and not the way cryptocurrencies generally work. None of the below, the crux of the reasoning here, applies to typical cryptocurrencies as far as I can tell.

— David “JoelKatz” Schwartz (@JoelKatz) August 1, 2023

Moreover, Schwartz pointed out that the court’s rejection of the Ripple case did not appear to be solely based on a fundamental disagreement with its reasoning. Instead, there are key differences in the facts between the two cases. The CTO tweeted,

“This ruling seems to be based no some very unsual properties of this particular scheme and not the way cryptocurrencies generally work. None of the below, the crux of the reasoning here, applies to typical cryptocurrencies as far as I can tell.”

It is worth noting that despite XRP earning a partial victory in the SEC case, the matter remains a key driver in the valuation of the token. Following Rakoff’s rejection, XRP tanked over 2.16% in the last 24 hours to trade at $0.69. However, the digital token is up 1.46% over the past seven days. It seems, despite developments in the SEC case, XRP will continue trade in alignment with the broader crypto market.

#XRP #Binanceturns6

Market cap 

1.55%

$160M

#155

Volume (24h) 

13.56%

$10M

#190

Volume/Market cap (24h) 5.96%

Circulating supply 875,249,524 ONT

87.52%

Total supply 1,000,000,000 ONT

Max. supply 1,000,000,000 ONT

Fully diluted market cap 

mid term targets 1 - 1.20 - 1.40 usdt

#REXBOX

ONT USDT 1M ANALYSIS

When you find yourself excited enough to take screenshots of your profits, it's usually a good sign that you should consider selling.

Currently, there is a crypto rally happening, where many random and lesser-known cryptocurrencies are experiencing sudden surges in value. This is often referred to as a "meme coin rally" and typically signals a peak in the overall crypto market. The sequence of events usually goes like this: Bitcoin pumps, then Ethereum pumps, followed by altcoins, and finally, random and lesser-known coins see a surge.

Despite knowing this pattern, many people still succumb to the fear of missing out (FOMO ) and invest in the latest shitcoins, such as PEPE or AIDOGE. While some may be making profits because they bought in earlier and managed to ride the wave of these pump-and-dump coins, it's important to remember the fate of previous meme coin rallies. They often end in a rug-pull, where the value of the coins drops significantly, or when Bitcoin takes a downturn, causing a sudden -80% loss in value for these volatile coins.

Though those currently making profits may feel ecstatic, it is crucial to adhere to the golden rule: as soon as you find yourself so happy that you want to share screenshots of your profits with friends, that is precisely the moment you should be considering selling and securing your gains. I can personally vouch for this rule as I had a friend who turned a $10 investment into $200 during 2021, but failed to take profits. To this day, it remains my biggest missed opportunity. So, don't be like my friend; take your profits when the time is right.

#BTC #Binance #REXBOX #PEPE

$BTC $PEPE $BNB

Written by: #REXBOX

In recent times, we have seen Binance facing strong attacks from the United States for unknown reasons. However, have the officials in the United States considered what could happen if Binance decides to shut down?

What will happen in crypto and bitcoin if Binance shut down?

Binance is the world’s largest cryptocurrency exchange, with over $50 billion in daily trading volume and more than 100 million users. Binance offers a wide range of services, including spot trading, futures trading, margin trading, staking, lending, and decentralized finance (DeFi). Binance also operates its own blockchain, Binance Smart Chain (BSC), which hosts many popular DeFi applications and tokens.

However, Binance has also faced regulatory scrutiny and pressure from several countries, including the United States, Singapore, Europe, and China. Binance has been accused of violating anti-money laundering (AML) and securities laws, facilitating market manipulation and fraud, and operating without proper licenses or oversight. As a result, Binance has had to suspend or limit some of its services in different regions, and some banks and payment providers have cut ties with the exchange.

If Binance were to shut down completely, it would have a significant impact on the crypto and bitcoin markets, as well as on the millions of users who rely on the exchange for their trading and investing needs. Here are some possible consequences of a Binance shutdown:

A sharp drop in the prices of #bitcoin and other cryptocurrencies. Binance accounts for a large share of the global crypto trading volume and liquidity. If Binance were to cease operations, it would create a supply shock and a panic sell-off in the market. The prices of bitcoin and other cryptocurrencies would likely plummet, as traders and investors scramble to liquidate their positions and withdraw their funds from the exchange. The market volatility and uncertainty would also deter new entrants and institutional investors from entering the crypto space.

A loss of funds for Binance users. Binance holds billions of dollars worth of crypto assets in its custody, both in its hot wallets (online) and cold wallets (offline). If Binance were to shut down, it is unclear how these funds would be returned to the users or whether they would be accessible at all. Depending on the reason for the shutdown, Binance could face legal actions, asset freezes, or hacking attempts that could jeopardize the security and availability of the funds. Users who store their crypto assets on Binance would risk losing their money or having to wait for a long time to get it back.

A disruption of the DeFi ecosystem. Binance Smart Chain (BSC) is one of the most popular platforms for DeFi applications and tokens. BSC hosts many projects that offer lending, borrowing, swapping, farming, gaming, and NFT services. BSC also has a large user base and a low-cost transaction fee structure. If Binance were to shut down, it would affect the operation and development of BSC and its associated projects. Users who interact with BSC would face difficulties in accessing their funds or using their services. Developers who build on BSC would have to migrate to other platforms or lose their audience and revenue.

A shift in the competitive landscape of the crypto industry. Binance is a dominant player in the crypto industry, with a strong brand recognition and a loyal customer base. Binance also has a diversified business model that covers various segments of the crypto market. If Binance were to shut down, it would create an opportunity for other cryptocurrency exchanges to fill the gap and capture its market share. Some of these competitors include Coinbase, Kraken, Huobi, OKEx, Bitfinex, FTX, and KuCoin. These exchanges could offer better services, security, and compliance to attract new users and retain existing ones.

#Binance is not likely to shut down anytime soon, as it has been trying to improve its compliance and regulatory relations amid the global crackdown. Binance has hired former regulators and compliance experts to lead its legal and policy teams. Binance has also said it is willing to cooperate with authorities and follow local rules in every market it operates in. However, Binance may have to adapt to the changing regulatory landscape and customer expectations without compromising its decentralized and global nature.

In conclusion, Binance is a vital and influential player in the #crypto industry, but it also faces many challenges and uncertainties in the future. Binance has to balance its growth, innovation, and compliance goals while maintaining its user-centricity and industry-leading performance. If Binance were to shut down, it would have a significant impact on the crypto and bitcoin markets, as well as on the millions of users who rely on the exchange for their trading and investing needs. Therefore, Binance users should be aware of the risks and opportunities associated with the exchange and diversify their portfolio and platform choices accordingly.