In a stunning twist worthy of a legal soap opera, the illustrious United States Court of Appeals for the Second Circuit has temporarily hit the pause button on the Ripple case—a veritable ping-pong of regulatory shenanigans.
Presiding over this theatrical display, Judge José A. Cabranes has, with all the aplomb of a seasoned maestro, granted the joint motion tendered by both the SEC and Ripple, filed earlier this very month. One might say it’s akin to agreeing on which flavor of ice cream to savor while the world of cryptocurrency swirls in chaos.
Now, dear reader, the SEC must dutifully file a status report within a fortnight of two months, updating the court on this much-watched drama. Will it bring popcorn or merely more paper? One can only imagine.
As the exquisite tapestry of fate wove its intricate designs, Ripple decided to gracefully retreat from its appeal—likely prompted by the recent exodus of SEC Chair Gary Gensler, who left as suddenly as he appeared; the crypto arena is rife with such enigmatic exits.
In a perfect embodiment of “what goes up must come down,” the price of XRP has taken a lamentable dip of 2% in the past 24 hours, victim to the broader crypto market’s poignant correction. Ah, the sweet, sweet irony—this latest development was all but prepared for by those well-informed market traders, who surely laughed all the way to their digital banks.
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2025-04-16 18:17