SEC Showdown: Gary Gensler Defends Crypto Policy While Commi | GUCCIHUSKY on Binance Square

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SEC Showdown: Gary Gensler Defends Crypto Policy While Commissioner Mark Uyeda Calls It 'Disaster' For Assets Like Bitcoin, Ethereum, Dogecoin

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Ripple files notice of cross-appeal in ongoing litigation with the SEC Ripple Labs filed a cross-appeal as litigation continues in a case brought by the U.S. Securities and Exchange Commission almost four years ago. Ripple filed its "notice of cross-appeal" on Thursday to the U.S. Court of Appeals for the Second Circuit. This comes a week after the SEC said it was appealing an earlier judgment. "Today, Ripple filed a cross-appeal to ensure nothing’s left on the table, including the argument that there can’t be an 'investment contract' without there being essential rights and obligations found in a contract," said Stuart Alderoty, Ripple's chief legal officer in a post on X. In 2020, the SEC accused Ripple of raising $1.3 billion through the sale of XRP +2.53%, which it says is an unregistered security. Over a year ago, Judge Analisa Torres ruled that some of Ripple’s sales, called programmatic, of XRP did not violate securities laws because of a blind bid process in place for them. She did, however, rule that other direct sales of the token to institutional investors were securities. Later in August, Judge Torres ordered Ripple to pay $125 million in fines. The SEC also previously moved to secure an interlocutory appeal last year, which was rejected by Judge Torres. That kind of appeal is filed while a case is still going on. Torres said the agency did not demonstrate that the appeal would “materially advance the ultimate termination of the litigation.”

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$35 million worth of tokens drained from a crypto whale in phishing attack Security analysts reported a security incident involving a phishing attack in which a crypto whale lost 15,079 Few Wrapped Duo ETH (fwDETH), valued at around $35 million. fwDETH is a wrapped version of Duo ETH or DETH, a derivative of ETH issued by Duo — a DeFi protocol on the Blast network. This incident occurred due to the whale's fraudulent “permit” signature, which led the attacker to drain funds from their address 0xEab2E…a393, crypto anti-scam solution Scam Sniffer first noted. Security firm PeckShield BlockSec corroborated the incident. “Looks like the attacker lured the victim into signing a permit message offline and then used the signed permit message to drain the fwDETH token from the victim’s account,” Yajin (Andy) Zhou, co-founder of BlockSec, told The Block. This exploit resulted in the user losing a substantial amount of fwDETH and contributed to a sharp decline in value due to the attacker's sale. Within hours of the incident, the value of DETH dropped by more than 90% from $2000 to $100 before recovering back to $1000 at the time of writing, according to data from DexScreener

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