Crypto Headlines Of The Week: Ripple, Binance & Shiba Inu Steal Spotlight

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The cryptocurrency world winds down another week with Binance‘s founder and Ripple, along with Shiba Inu, stealing the spotlight. Amidst the excitement in the crypto market following Bitcoin‘s halving event, some noteworthy developments that stirred up a flurry of activity among investors include:

Ripple Vs U.S. SEC Takes New Turn

The long-standing legal dispute between Ripple and the US Securities and Exchange Commission (SEC) took an intriguing turn this week, captivating the crypto community. In a significant development for Ripple, the company behind XRP, Magistrate Judge Sarah Netburn was appointed as the District Judge in the Southern District of New York on April 25. Previously known for her favorable views towards cryptocurrencies and fair rulings, this appointment brought optimism to Ripple supporters.

After being appointed as the District Judge in SDNY court, Judge Sarah Netburn made a significant ruling in the Ripple vs SEC lawsuit, which created a wave of reaction in the crypto industry. Specifically, she established a timeline for the progression of the legal battle between Ripple Labs and the Securities and Exchange Commission (SEC).

Ripple’s request to dismiss the SEC’s latest expert evidence, presented to strengthen the SEC’s argument for penalties and a final judgment, is under review by Judge Netburn. Notably, she has given the SEC an extra time until April 29, 2024, to respond to Ripple’s motion. Afterward, Ripple will be allowed three business days to submit their response.

Binance Founder Likely To Face Imprisonment

Moving forward, in relation to Binance’s ongoing AML controversy, reports suggest that the company’s founder, Changpeng Zhao, or “CZ,” could be facing a potential prison sentence of 36 months. According to recent court documents filed on April 23, U.S. prosecutors have recommended that “CZ” serve a 36-month prison term due to the accusations of breaking U.S. anti-money laundering laws (AML).

Zhao, the former CEO of Binance, is set to receive his final sentence on April 30th following his resignation in November. This news has sparked renewed interest and discussions within the crypto industry, highlighting the intricacies that exist within this sector.

As a crypto investor following the latest developments, I can’t help but feel the excitement brewing around the recent sentencing memorandum for the former Binance CEO, Zhao. In this document, his legal team proposed probation as an appropriate sentence. This proposition set off a wildfire of anticipation among the global crypto community.

Shiba Inu Advances With Crypto Venture

This week, Shiba Inu, often referred to as Dogecoin‘s rival, made notable progress in its crypto endeavors. The canine-themed token displayed noteworthy advancements within its community, leaving a strong impact. Among these developments, Shiba Inu announced it would forgo the implementation of a layer 3 blockchain, marking another groundbreaking move in the evolution of this meme coin’s cryptographic innovations.

As a crypto investor in the Shiba Inu community, I’m excited about the upcoming development of the layer 3 blockchain. This innovation primarily comes from Shiba Inu’s partnership with Zama. The buzz in the market is that this L3 blockchain could be based on Fully Homomorphic Encryption (FHE). If true, this would be a game-changer for us, as FHE allows computations to be performed directly on encrypted data without decrypting it first. Consequently, we, as Shiba Inu ecosystem users, are hopeful and eagerly anticipate the potential benefits that this technology could bring to our community.

As a Shiba Inu investor, I’m excited to share that the community has announced plans for a hard fork in Shibarium. This update aims to enhance the network by improving the speed of block processing and providing more stable transaction fees.

As an analyst, I’ve noticed that these chronicles have garnered substantial interest within the crypto market community of traders and investors this week.

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2024-04-28 08:36