Financial Regulator Veteran Implies Possible Appeal Route in Ripple Court Case

In the ever-evolving world of cryptocurrencies, several significant events have recently unfolded. Let's delve into the latest updates regarding Shiba Inu, Ethereum, and the ongoing Ripple-SEC lawsuit.

Vitalik Buterin, co-founder of Ethereum, has been in the spotlight recently. He received a 4% share of the Neiro token's supply from the Neiro team and sold all of his Neiro tokens for $112.5 in ETH at the beginning of August. Additionally, Buterin moved 3,000 ETH ($8.05 million) to a multi-signature safe wallet on Aug. 9, and more recently, deposited 200 ETH worth $534,000 to the Kraken exchange, though the exact date is unknown.

Meanwhile, the Shiba Inu token has seen some volatility. Over the past 24 hours, Shiba Inu (SHIB) has decreased by 4.67%, currently trading at $0.00001309. A significant surge in SHIB exchange outflows occurred on Aug. 14, with more than 337 billion SHIB tokens moved out of large crypto exchanges. This buying activity could help Shiba Inu sustain bearish pressure and potentially initiate an upward trend.

The Ripple-SEC lawsuit, a legal battle that has been ongoing for nearly five years, has seen some potential developments. Ripple has already dropped its cross-appeal, signalling its willingness to "close the chapter" on the legal fight. However, the SEC's appeal is still technically open, as the Commission has not yet formally voted to withdraw it.

Former SEC regional director Marc Fagel has provided insights into the potential appeal paths. He explains that the SEC's internal vote is a key step before the appeal can be dismissed, and this process could take a month or two. Once the SEC completes its internal vote and formally files the withdrawal jointly with Ripple, the court's previous rulings—including penalties against Ripple—will take full effect, finally closing the case.

If the SEC moves forward with an appeal, Ripple is likely to cross-appeal the ruling on institutional sales. However, no new information about Ripple's cross-appeal on institutional sales or Marc Fagel's opinion on the potential appeal has been provided.

In summary, the potential appeal paths in the Ripple vs. SEC lawsuit hinge on the SEC's internal approval process, where the Commission may either vote to continue or drop its appeal. Given the context and comments from Fagel, it is expected the SEC will eventually drop the appeal, but the timing depends on procedural formalities within the SEC rather than any further litigation strategy.

As these events unfold, the cryptocurrency market continues to evolve, offering a fascinating landscape for investors and enthusiasts alike. Stay tuned for more updates as the story develops.

With Vitalik Buterin selling his Neiro tokens and moving large amounts of Ethereum (ETH), traders are closely monitoring movements within the crypto space, particularly in the finance and investing sectors.
The latest crypto news also includes the Shiba Inu token's volatility, as a surge in exchange outflows on Aug. 14 may indicate buying activity and potential for an upward trend.
Amidst these developments, the ongoing Ripple-SEC lawsuit has seen potential progress, with Ripple dropping its cross-appeal, signaling a possible end to the five-year legal battle.
Former SEC regional director Marc Fagel has suggested that the SEC's internal vote could take up to two months before the appeal can be dismissed, though no new updates on Ripple's cross-appeal on institutional sales have been shared.
As for price predictions, a decrease in Shiba Inu (SHIB) by 4.67% over the past 24 hours has been observed, trading at $0.00001309. The crypto market continues to change, offering opportunities for both crypto news followers and investors.
Investors who keep their digital assets in crypto wallets and trade on crypto exchanges will remain at the heart of the crypto community as more updates unfold, shaping the future of this dynamic and unpredictable financial landscape.