A U.S. federal court judge has advanced a civil securities lawsuit against Ripple Labs, rejecting its bid for summary judgment.
This lawsuit claims that Ripple’s CEO violated California securities laws.
On June 20, Judge Phyllis Hamilton of the U.S. District Court for the Northern District of California ruled that a jury will decide if Ripple CEO Brad Garlinghouse made “misleading statements” during a 2017 interview.
The judge dismissed four allegations regarding Ripple’s “failure to register XRP as a security.”
In the 2017 interview on Canada’s BNN Bloomberg, Garlinghouse stated he was “very, very long” on XRP. However, the lawsuit alleges this was misleading, as he “sold millions of XRP” throughout that year.
“We are pleased that the California court dismissed all class action claims. The one individual state law claim that survived will be dealt with at trial,” said Ripple’s chief legal officer, Stu Alderoty, in an emailed statement to Cointelegraph.
Judge Hamilton noted that Ripple argued the “misleading statement” claim should be dismissed, asserting XRP is not a security under the Howey test.
Ripple referenced a significant July 2023 ruling by Judge Analisa Torres in a lawsuit between the U.S. Securities and Exchange Commission (SEC) and Ripple.
However, Hamilton disagreed, finding that XRP could be considered a security when sold to non-institutional investors, who might expect profits from Ripple’s efforts—one of the criteria of the Howey test.
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“The court declines to find as a matter of law that a reasonable investor would have derived any expectation of profit from general cryptocurrency market trends, as opposed to Ripple’s efforts to facilitate XRP’s use in cross-border payments, among other things.
Accordingly, the [court] cannot find as a matter of law that Ripple’s conduct would not have led a reasonable investor to have an expectation of profit due to the efforts of others,” Hamilton wrote.
Ripple’s Alderoty emphasized, “The ruling from Judge Torres in the SEC case still stands and nothing here disturbs that decision.”
Many in the U.S. crypto industry celebrated Torres’ ruling as a major victory in 2023, anticipating that it would set a precedent for other crypto cases.
However, its impact has been less significant than expected.
In the SEC’s case against Terraform Labs, Judge Jed Rakoff, from the same courthouse as Torres, disagreed with the Ripple ruling, rejecting Terraform’s dismissal motion in August.
Terraform subsequently lost the case and had to pay a $4.5 billion settlement to the SEC.
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Gemini co-founders Cameron and Tyler Winklevoss have each pledged $1 million in Bitcoin towards the reelection of former U.S. President Donald Trump.
In June 20 posts on X, the Winklevoss twins announced their intention to vote for Trump, the prospective Republican Party candidate for U.S. President on Nov. 5.
They committed to sending 15.47 BTC each — approximately $1 million at the time — to his campaign. Both brothers emphasized that Trump was “pro-Bitcoin” and “pro-crypto,” while criticizing President Joe Biden for allegedly declaring “war against crypto” during his tenure.
“President Donald J. Trump is the pro-Bitcoin, pro-crypto, and pro-business choice,” Tyler Winklevoss stated. “This is not even remotely open for debate.
Anyone who tells you otherwise is severely misinformed, delusional, or not telling the truth […] It’s time for the crypto army to send a message to Washington. That attacking us is political suicide.”
Tyler highlighted the U.S. Securities and Exchange Commission’s actions against crypto firms under the Biden administration and the “weaponization of the banking system against crypto companies” — a nod to Operation Choke Point 2.0.
The twins, however, did not mention regulatory actions during Trump’s presidency from 2017 to 2021.
The Winklevoss brothers reportedly attended a June fundraiser for Trump, costing up to $300,000 per person.
Additionally, they have donated about $5 million to the Fairshake political action committee and its affiliates, which have been responsible for attack ads against lawmakers and supporting specific Democratic and Republican candidates.
The twins’ announcement did not address Trump’s conviction on 34 felony counts in May, potentially complicating his reelection bid.
Despite leading the polls as the Republican presidential candidate, Trump faces a sentencing hearing in New York on July 11, just before the party nomination.
In recent months, amid his legal challenges, Trump has hosted a dinner for those who purchased an NFT of his mugshot from a Georgia criminal case, announced his campaign’s acceptance of crypto donations, and met with executives from major mining firms, expressing his intention to have all BTC mined in the U.S.
Meanwhile, President Biden is also reportedly considering accepting cryptocurrency for his reelection campaign.
Reactions on X were mixed; some supported the Winklevoss’ endorsement, while others questioned Trump’s commitment to crypto, suggesting he might be influenced by Robert F. Kennedy Jr, a crypto-friendly Independent candidate for 2024.
Trump had previously called Bitcoin a scam in 2021 after leaving office.
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Casino bonuses and loyalty programs form the backbone of customer engagement strategies in online gambling. These incentives are not merely tools for attracting new players; they are also crucial in maintaining the interest and loyalty of existing clientele.
As we explore the mechanisms behind these offerings, it becomes clear how they are continuously refined to align with player expectations and adapted to the landscape of the online casino industry.
Innovative Bonus Structures
As operators vie for attention in a crowded market, the development of distinct and appealing bonus structures is essential. Modern online casinos are dedicated to updating their bonus structures continuously so as to keep the interest at a high level.
Some of the most popular bonuses are as follows:
- Game-specific bonuses: Casinos might offer free spins on popular or newly launched games. For popular games like Gates of Olympus or Sweet Bonanza, special weekly offers can be organised or even tournaments with leaderboards and prizes for winners. Fans of table games might find offers like matched deposits or cashback rewards useful for the games of their preference.
- Refer-a-friend bonuses: Refer-a-friend bonuses expand the player base through word-of-mouth. A good example of this approach is the referral Unibet Casino bonus. Players who refer a friend to the platform receive a £150 bonus. This strategy has proven itself to be useful for Unibet, as the casino has greatly expanded its player base, thanks in big part to this bonus type.
Loyalty Programs
These programs are vital for maintaining the interest and loyalty of the casino’s clientele. Here’s a closer examination of the types of loyalty programs which have become popular lately:
- Point-based Systems: Within these systems, players accumulate points with every wager they make. Over time, accumulated points can lead to significant rewards. The flexibility of the points system usually allows players to choose rewards that best suit their preferences and gaming styles.
- VIP clubs: Reserved for the most committed players, VIP clubs epitomise the pinnacle of player rewards and recognition. Membership in these clubs is typically by invitation or through meeting specific criteria. VIP clubs offer exclusive benefits which may include bespoke promotions tailored to individual gaming preferences, personal account managers, and even invitations to special events or luxury experiences.
Challenges and Considerations
While bonuses and loyalty programs offer substantial benefits to both players and casinos, managing them effectively presents several significant challenges.
Regulatory compliance stands as one of the primary challenges. The rules and regulations can differ greatly from one place to another. Casinos must follow these regulations to ensure that all their promotional activities meet legal requirements for fair play, anti-money laundering (AML) measures, and responsible gaming.
Another critical challenge is the prevention of bonus abuse. This involves players exploiting bonus offerings to gain unintended advantages, which can lead to significant financial losses for casinos and disrupt the integrity of gaming operations. To counteract this, casinos implement measures such as wagering requirements, game weightings, and caps on bonus winnings.
Casinos must also balance the attractiveness of their offers with profitability. Achieving this balance requires an understanding of player behaviours and preferences, coupled with careful financial analysis. Utilising data analytics helps tailor offers that meet player expectations while also driving the casino’s revenue objectives effectively.
A police officer in White Settlement, Texas, thwarted a scam in progress, saving an elderly woman from losing $40,000 to a Chase Bank impersonator.
The scam involved tricking the woman into depositing money into a Bitcoin ATM machine.
On June 19, the White Settlement Police Department (WSPD) received a call from a concerned citizen who witnessed an elderly woman depositing large sums of cash into a Bitcoin ATM.
The citizen became suspicious after overhearing the woman’s phone conversation and believed she was being scammed.
According to the WSPD, the scammer threatened the victim with arrest if she didn’t transfer the funds, a common tactic in “pig butchering” scams.
The scammer’s caller ID displayed “Chase Bank,” leading the woman to believe she was speaking with a bank employee.
The perpetrator arranged for a ride service to take the woman to a local Chase Bank to withdraw the money.
Subsequently, she was directed to a convenience store to deposit the cash into a Bitcoin ATM.
Dashcam footage released by the police shows an officer intervening and taking over the phone conversation.
Despite the Chase Bank impersonator’s continued attempts to complete the scam, the WSPD successfully halted further transactions.
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Although the police prevented additional losses, the woman had already deposited $23,900 into the crypto ATM.
Authorities are now collaborating with government officials to recover the funds and return them to the victim.
Sergeant James Stewart, the responding officer, expressed a personal connection to the case, saying, “All I could do is visualize my mom in this case. […] I wish we could find this guy and place him behind bars for a very long time because he is probably doing this to other people.”
Chief of Police Christopher Cook praised the vigilant citizen who reported the incident, stating that the department plans to recognize this individual at a future council meeting.
The quick action of both the concerned citizen and the police officer was crucial in preventing the elderly woman from losing her life savings to the scammer.
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Crypto Dragon (CRYDRAG) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Crypto Dragon (CRYDRAG), a Solana memecoin that was launched today, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and Crypto Dragon presents a similar opportunity.
Crypto Dragon has a market cap below $8,000 at the moment, meaning that when it just reaches a modest market cap of $400,000-$800,000, early investors would generate returns of 5,000%-10,000% in a matter of days or hours.
The exciting memecoin is poised to rally 19,000% in the coming two days, and Crypto Dragon could potentially reach a multi-million dollar market cap within a few weeks.
Currently, Crypto Dragon can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy Crypto Dragon on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Crypto Dragon by entering its contract address – 8sc45M11ahpU2wMNTgwGhUGVrAQYALkLMq1Tk59oVWQp – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like CRYDRAG.
Martin Shkreli, famously known as “Pharma Bro,” claims that Donald Trump’s 18-year-old son, Barron Trump, launched the TrumpCoin (DJT) token with his father’s approval and holds the private keys to its smart contract address.
Shkreli, who served over six years in prison for securities fraud, alleges Barron approached him in April to launch the Solana-based token, now valued at $146 million according to Birdseye data.
Barron Trump and his representatives have not commented on the matter.
In an X Spaces hosted by Mario Nawfal, Shkreli stated he merely provided advice about the token launch and did not actively participate in its deployment.
He claimed Barron was the true creator of DJT, with cryptocurrency influencer “Ansem” also involved.
“I taught someone how to make a contract, and they pushed the button, not me.
‘Keys are with Trump, not me,” Shkreli said in an X post.
He suggested around 10 people were involved in the token launch.
”I did not act alone.”
Shkreli also claimed Trump was in contact with crypto exchange Kraken about potentially listing DJT.
Cointelegraph reached out to Kraken but did not receive an immediate response.
Shkreli asserted that Donald Trump was aware of and approved the DJT token. “I have receipts of Barron saying his dad approved it.”
To support his claims, Shkreli introduced “Mongolian Prince” in the X Spaces—a teenager with less than 500 X followers who allegedly worked with Shkreli.
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Mongolian Prince confirmed Barron made the token and holds the private keys.
When asked by an audience member who deployed the contract, Mongolian Prince answered, “Barron.”
“[Barron] wanted to do something special, something significant, and we all wanted to help him with that.”
Mongolian Prince claimed he recently met with Trump in Florida.
However, his account of Donald Trump’s involvement was less clear.
He recounted that Barron showed his Solana-based Phantom wallet to his father before the DJT token launch, who supposedly responded with laughter.
The seven-hour X Spaces followed blockchain sleuth ZachXBT winning a $150,000 award from Arkham Intelligence for identifying Shkreli as the creator of the DJT token.
Adam Cochran, a partner at venture capital firm Cinneamhain Ventures, accused Shkreli of “trying to throw Barron under the bus” to clear his name.
Audience opinions on Shkreli’s version of events were mixed. Some believed him, while others doubted Trump would risk creating controversy during an election year.
Roger Stone, a close aide to Trump, denied any involvement of the former President or his son with the DJT memecoin.
Shkreli, convicted in 2017 on securities fraud and conspiracy charges, served nearly seven years in prison and paid over $70 million in fines.
Some have suggested his recent involvement might violate his parole conditions, which Shkreli denies.
“Read the law idiot,” Shkreli responded to the 1.6 million follower X account “BORED,” which claimed he would return to prison.
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Bitcoin short sellers are likely hoping the asset won’t return to $70,000 soon, as significant liquidations could occur if it does.
According to CoinGlass data, a massive $1.67 billion in short positions will be liquidated if Bitcoin reaches $70,000 — a level it hasn’t touched since June 8.
“There is an insane amount of Bitcoin short liquidations piling up at the topside,” noted pseudonymous crypto trader Ash Crypto on June 17 in an X post.
CoinMarketCap indicates that a 7.46% increase from its current price of $65,136 would push Bitcoin to $70,000.
“Markets are incredibly bullish right now. Bitcoin and ETH Liquidations are stacked. Bounce imminent,” Discover Crypto CEO Joshua Jake stated on June 18.
Bitcoin open interest (OI), representing the total value of all outstanding or unsettled Bitcoin futures contracts across exchanges, has decreased by 10.99% since its peak on June 7, currently standing at $33.55 billion.
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However, Bitcoin OI is still 82% higher compared to January 1.
While a drop in open interest can signal a weakening trend, an increase suggests growing market interest.
Earlier in June, leading up to June 7, Bitcoin’s OI surged by over $2 billion in just three days, prompting traders to anticipate a potential “whipsaw” effect on its price.
Willy Woo, a crypto analyst and creator of the onchain data resource Woobull, believes a significant liquidation event could set the stage for Bitcoin to achieve new all-time highs.
“We need a solid amount of liquidations still before we get the all clear for further bullish activity,” Woo wrote on June 19.
“I know it sucks, but BTC is not going to break all time highs until more pain and boredom plays out,” he added.
Woo isn’t the only analyst describing Bitcoin’s recent price action as “boring” following the Bitcoin halving on April 20.
“Basically, it’s The Boring Zone before The Banana Zone,” Global Macro Investor head of research Julien Bittel commented on June 19.
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India’s Financial Intelligence Unit (FIU) has fined crypto exchange Binance 188.2 million rupees ($2.25 million) for violating the country’s Anti-Money Laundering (AML) rules while providing services to Indian clients.
On June 19, the agency announced that the penalty resulted from multiple violations of the Prevention of Money Laundering Act (PMLA), 2002.
Binance, as a Virtual Digital Asset Service Provider, is classified as a reporting entity under Section 2 (as) (vi) of the PMLA. This classification mandates that Binance maintain and report transaction records and implement robust AML measures.
However, the FIU’s investigation found that Binance failed to comply with these requirements when serving Indian clients.
Indian authorities issued show-cause notices to Binance and other offshore cryptocurrency exchanges, banning them from India for “operating illegally” in January 2024.
In May, Binance, along with KuCoin, was the first offshore crypto-related entity to be approved by the Financial Intelligence Unit.
This approval was conditional on paying a penalty after a hearing with the FIU.
The FIU’s announcement stated that the charges against Binance were confirmed after reviewing the director’s written and oral submissions.
READ MORE: Ether Surges Above $3,500 as SEC Ends Ethereum 2.0 Investigation
The fine on Binance covers multiple violations, including failing to maintain and report transaction records, not providing required information to authorities, and not preserving records as mandated.
In May, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) imposed a $4.4 million administrative penalty on Binance for failing to register and report large digital asset transactions.
According to FINTRAC, Binance failed to register as a foreign money services business and report digital currency transactions exceeding $10,000.
Binance has appealed against FINTRAC’s director over allegations of noncompliance with AML and Countering the Financing of Terrorism regulations.
In February, Nigerian authorities detained two Binance executives following allegations of tax evasion and money laundering at the company.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Daddy Musk (DADMUSK), a new Solana memecoin that was launched today, is poised to explode over 14,000% in price in the coming days.
Currently, Daddy Musk can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Daddy Musk could become the next viral memecoin.
In fact, many early Shiba Inu and Dogecoin investors have been pouring funds into this new Solana memecoin.
Daddy Musk launched with over $3,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Daddy Musk on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Daddy Musk by entering its contract address – 2cknwYhfTymzjMjuWAWPfk92C9C6znpZPEraFN192gnY – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like DADMUSK.
Stealth Pepe could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Stealth Pepe (STEPEPE), a new Solana memecoin that was launched today, is poised to explode over 16,000% in price in the coming days.
This is because STEPEPE has announced its first centralized exchange listing, which will be on KuCoin.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Stealth Pepe can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Stealth Pepe could become the next viral memecoin.
Stealth Pepe launched with over $6,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Stealth Pepe on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Stealth Pepe by entering its contract address – GrAeqL5a7oQsEZfXQChQWDWxUP4XLZdHZhqT483FN3tS – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like STEPEPE.