SEC Just 😍 XRP + Bankman’s Getting Fried in Jail

Hello there!

Welcome to another news roundup from your favorite portfolio tracking and trading platform, Coinigy.

So, the main highlight of last week was PayPal's announcement of the launch of its own Stablecoin.

But since we covered that in the last release, we'll just go on to other news.

As you might have noticed, the crypto media loves anything related to Gensler and XRP 😅

So, the latest is that the SEC is filing an appeal to keep XRP in court. We expected something like this, so it’s not surprising.

But what other cards do Gensler and his friends hold, though 🤔

In other news, it’ll take longer until Sam Bankman-Fried touches grass again, as his bail has been revoked.

Plus, more agencies across the world are now prying into Worldcoin’s true intents—it's about time, anyway 😒

• Judge revokes Sam Bankman-Fried’s bail, remands him to custody
• SEC to seek appeal and stay in Ripple Labs court case
• Argentine agency opens investigation into Worldcoin over biometric data
• South Korea arrests Bitsonic CEO for allegedly stealing $7.5M of users’ money

Judge revokes Sam Bankman-Fried’s bail, remands him to custody

Sam Bankman-Fried was remanded into custody after bail gets revoked. CNBC's Kate Rooney joins 'Closing Bell' to discuss a U.S. district judge revoking bail for FTX founder Sam Bankman-Fried, allegations of witness intimidation on behalf of Bankman-Fried, and the decision to remand Sam Bankman-Fried to into NYC custody.

Read the full news.

SEC to seek appeal and stay in Ripple Labs court case

In mid-July, a federal court settled a years-long battle between Ripple Labs and the SEC to decide if Ripple’s XRP token was a security or not. Southern District of New York judge Analisa Torres ruled that the XRP token is not a security when sold to the general public, but it could be treated as one with regard to past sales to institutional clients.

The regulator doesn’t seem to be happy with that partial victory: The SEC said in a court filing on Wednesday that it would file an “interlocutory appeal” for Torres’ ruling.

Here’s the complete story.

Argentine agency opens investigation into Worldcoin over biometric data

In a Tuesday announcement, Argentina's Agency for Access to Public Information (AAIP) said it was investigating Worldcoin over its collection, storage and use of customer data to ensure it complies with security and privacy regulations.

Here’s the complete story.

South Korea arrests Bitsonic CEO for allegedly stealing $7.5M of users’ money

According to prosecutors, from January 2019 to May 2021, Shin allegedly falsely manipulated the prices and trading volume of cryptocurrency on Bitsonic, stealing the equivalent of 10 billion won ($7.5 million) from exchange users.

Read the complete story.

Other Highlights Worth Mentioning

• Bitstamp to suspend trading of major altcoins for US users - Blockworks
• BNB Chain hard fork to improve security and compatibility with EVM chains - Binance
• Bitcoin Price Prediction as BTC Spikes Up 2% in 24 Hours – Time to Buy? - Cryptonews
• US Fed steps up oversight of banks' involvement with crypto firms - Cointelegraph