• Coinbase sued for selling XRP
    Regulation,  Ripple,  XRP

    Coinbase sued for selling XRP

    The $10 million lawsuit, which seeks class action status, follows the U.S. Securities and Exchange Commission’s lawsuit against Ripple for selling XRP, which the agency claims is an unregistered security

    Noting that Coinbase is not licensed to sell securities, the suit called Coinbase’s sale of XRP “unlawful” and “fraudulent,” claiming that “Coinbase falsely represented that XRP was a commodity when… Defendant knew it was a security.” It also said that selling XRP was “unfair” as it gave Coinbase “an unwarranted competitive advantage over digital asset exchanges that only sold commodities.”

  • Ripple wins big
    Regulation,  Ripple,  XRP

    Ripple scores big win over weekend

    Judge throws out nearly all of the claims in a class action suit calling XRP an unregistered security illegally and fraudulently sold by Ripple

    On Friday night, a major ruling in the class-action suit against Ripple came out and it was a clear victory for the San Francisco-based blockchain payments firm – a clean win on two of the three issues before the judge, plus a near-win on the third.

  • Tezos settles class action
    Alt coins,  Regulation

    Tezos pays $25M to settle securities law class action suit

    The funds will be distributed among “all persons and entities” who have participated in the 2017 Tezos’ initial coin offering

    The legal fight in question concerns the $232 million initial coin offering (ICO) that the Tezos team held in 2017, during the ICO craze. The lawsuit alleges that the coin distribution was an unregistered securities offering.