jolmaj67

@jolmaj67

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It seems strange now, but the Ripple case preceded former President Joe Biden and Gensler. It came in the last months of the first Trump administration when Jay Clayton was still SEC chair. For a while, this made it an oddity. In the quaint pre-FTX days when Gensler was perceived as a “pro-crypto” commissioner, XRP remained an odd pariah for years. In regulatory limbo, the token was unavailable on many US centralized exchanges and so missed the boom years of 2021 and 2022.

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Then, in December 2020, the Ripple complaint came as a shot across the bow of the crypto establishment. The allegation that Ripple’s sales of the token XRP was a “years-long unregistered offering of securities” would form the playbook for all subsequent SEC enforcement actions.

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The Ripple case is one of the oldest and most influential in crypto. Back in the 2010s, when crypto law was still young, the SEC was just dipping its toes into enforcement. It started with “The DAO Report,” a seminal document initially applying the now-famous Howey test to cryptocurrency.

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One of Germany’s largest securities services providers, DekaBank started its crypto journey in 2023 by building a blockchain-based tokenization platform in collaboration with the Swiss digital asset firm Metaco.

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Founded in 1918, DekaBank is a major German asset manager with total assets of more than 411.5 billion euros ($427 billion) as of September 2024.

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The partnership comes shortly after Boerse Stuttgart Digital Custody received a full license in January under the European Union’s new Markets in Crypto-Assets (MiCA) framework.

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The CFTC is currently led by acting chair Pham, who was voted acting chairman on Jan. 20 after former chair Rostin Behnam resigned.

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However, the CEO cautioned that this is “a very selective alt season” where “[o]nly a few coins are pumping” due to a lack of “fresh liquidity” entering the crypto market.

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Commenting on VC participation in projects like Trump’s WLF, Folkman said many VCs ignored WLF, forcing the platform to take an anti-VC approach.

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Some analysts have compared memecoins, like Trump’s Official Trump (TRUMP) token, to ICOs based on similarities such as the capability to attract investment and frequent reliance on endorsements by prominent public figures.

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During the conversation, Folkman and Sun discussed the challenges in the mainstream adoption of decentralized finance (DeFi), memecoin regulation and the controversial role of venture capital in crypto.

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“We want to make ICOs great again,” WLF co-founder Zak Folkman said during a panel with Tron founder Justin Sun at the Consensus Hong Kong conference on Feb. 19.

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Initial coin offerings (ICO) could get a second chance to succeed, according to the co-founder of the Trump family’s cryptocurrency venture, World Liberty Financial (WLF).

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Upbit agreed to pay 3.14 billion South Korean won ($2.1 million) as compensation for 596 cases related to the service downtime. Bithumb will pay 377.5 million won ($262,000) as compensation in 124 cases.

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Due to the unexpected demand, the exchanges faced difficulties managing the user load, leading to downtime. While Upbit experienced 99 minutes of downtime, Bithumb and Coinone trading services were impacted for 62 minutes and 40 minutes, respectively.

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Upbit, which usually has 100,000 concurrent users, had to cater to 1.1 million users after the martial law declaration. Other crypto exchanges, Bithumb and Coinone, also recorded more than 500,000 users each on the same day.

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The rapid influx of users overwhelmed the servers of Upbit, Bithumb and other exchanges, resulting in disruptions and service outages.

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On Dec. 3, Yoon Suk Yeol, president of South Korea, declared martial law during a televised address in response to rising political tensions. The resultant panic in the financial and cryptocurrency markets led to a surge in user activity on local exchanges, according to a Yonhap news report.

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Cointelegraph reached out to Ledger but did not receive any response at the time of publication.

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As of 2024, Ledger had sold over seven million hardware wallets, none of which have ever been hacked, the company claims.

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