SEC vs Ripple Labs. Huge Update

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Today's action

• ⚡Hinman Docs
• ⚡Binance US Hires Former FBI Agent
• ⚡Hodlonaut vs Craig Wright
• ⚡Selected Meme of The Day
• ⚡Bite-Sized News

Hinman Docs

The saga of Ripple vs SEC continues. The legal battle between the two parties has been boiling for almost two years, and it looks like the end is near. And it looks like things are looking good for Ripple.

For those who feel out of the loop: SEC sued Ripple, the issuer of XRP coin, for not registering XRP as a security, instead of a digital asset. They demanded a $1.3B fine. Ripple labs didn't like that. You can read more about it in our previous newsletter here.

Fast forward to today. Ripple Labs general counsel Stuart Alderoty tweeted 'we finally have the Hinman docs. While they remain confidential for now, I can say that it was well worth the fight to get them.'

These documents are expected to reveal the fact that the former SEC chair didn't regard Ethereum as a security, yet they applied double standards for XRP. If this fact comes out to light, things will change in Ripple's favour. This would mean good news for XRP holders, as well as it would bring clarity to the overall mess-of-a-situation about what kind of regulation similar coins can expect to fall under.

The documents will be made public on October 24. So on Monday we'll know more.

TL;DR: Ripple vs SEC case is coming closer to its end. On Monday 'Hinman Documents' will be made public, thus letting the world know if Ripple has any chances of winning their ongoing legal battle over the status of their coin - XRP.

Binance US Hires Former FBI Agent

Binance, the world's largest crypto exchange, has announced that they're onboarding some new, overpowered players, into their team. To be more exact - this 'update' is to be implemented into Binance US, the company's US branch.

Former FBI agent BJ Kang is the name of the freshest Binance's employee. Not just any employee. Kang is about to lead an entire investigative unit which will have a clear objective - to find, stop, and prevent all the, illegal, fishy business related to Binance US.

BJ Kang has served long and successfully in FBI Washington Field Office's cybercrime squad, where he got experience in investigating, and tracking cybercrime, money laundering, hacking, etc.

TL;DR: Binance US stepped their game up by hiring a former FBI Agent who's got reputation in the field of a pro at this thing.

Hodlonaut vs Craig Wright

Now this is some very Bitcoin-centric news. Craig Wright, an Australian businessman, infamously claimed to be Satoshi Nakamoto. The creator of Bitcoin. And extraordinary claims require extraordinary evidence. Craig Wright didn't provide it.

So Hodlonaut, a pseudonymous, yet well-known name within the Bitcoin sphere, did not like that. He called Craig Wright a 'fraud' and a 'scammer'.

The Satoshi-Nakamoto-Wannabe decided that these insults are solid enough for a defamation suit against Hodlonaut. And so he went for it. And lost.

The judge acquitted Hodlonaut of accusations, and stated that Hodlonaut had "sufficient factual grounds to claim that Wright had lied and cheated in his attempt to prove that he is Satoshi Nakamoto'. The freedom of speech. The freedom of calling a liar 'a liar'. 

TL;DR: Craig Wright claimed he's Satoshi. Couldn't prove it. Got called a liar. Took it personally, tried starting a defamation lawsuit. Lost it.

Selected Meme of The Day

Bite-Sized News

• INTERPOL Launches Metaverse Dedicated to Worldwide Law Enforcement
• German Fintech N26 Launches Crypto Trading Product Dubbed N26 Crypto
• Hackers Stole 204 ETH in Gas Fees from Ethereum Alarm Clock Protocol
• Aptos Foundation Distributes Around 20M Tokens to Its Early Network Participants