🚀 Ripple Requests Stay On $125 Million SEC Judgment
#Ripple #SEC #legal #judgment #financial #appeal #Cointelegraph #XRP
According to Cointelegraph, Ripple Labs' legal team has requested a stay on the monetary portion of an August 7 judgment requiring the firm to pay $125 million in a case filed by the United States Securities and Exchange Commission (SEC).
In a September 4 filing in the US District Court for the Southern District of New York, Ripple’s lawyers stated that the SEC had agreed to delay the payment of the judgment beyond September 6. The legal team proposed that Ripple place 111% of the judgment amount, approximately $139 million, into a bank account until 30 days after the time to appeal expires or the resolution of any appeal.
The filing suggests that the SEC might be preparing for a potential appeal, as Ripple executives had previously celebrated the August 7 judgment. Ripple CEO Brad Garlinghouse referred to the decision as a “victory for Ripple,” and chief legal officer Stuart Alderoty indicated that the company would respect the $125 million fine.
As of now, Judge Analisa Torres, who is overseeing the SEC v. Ripple case, has not signed off on the request. An appeal would likely mean that Ripple’s case with the SEC, which was first filed in December 2020, is not yet concluded. This is a developing story, and further updates will be provided as they become available.#Ripple #SEC #legal #judgment #financial #appeal #Cointelegraph #XRP
🚀 SEC Secures $1.1 Million Judgment in Crypto Fraud Case
#SEC #CryptoFraud #Judgment #KeithCrews #Cryptocurrency #InvestorProtection #SecuritiesLaws #StemyCoin #FraudulentScheme #FinancialPenalties
According to Cointelegraph, the U.S. Securities and Exchange Commission (SEC) achieved a significant legal victory with a $1.1 million judgment against Keith Crews, who was accused of orchestrating a cryptocurrency scam. A federal judge in Georgia issued a default judgment on June 3, 2025, after Crews failed to respond to the SEC's lawsuit filed in August 2023. Judge Tiffany Johnson ordered Crews to pay over $1.1 million in financial penalties, including disgorgement of $530,000 in net profits from his alleged misconduct, prejudgment interest of nearly $51,000, and a civil penalty of $530,000. Additionally, Crews is permanently prohibited from future violations of securities laws.
The SEC's allegations against Crews centered on his activities through companies Four Square Biz and Stem Biotech, where he allegedly conducted a fraudulent crypto scheme between October 2019 and May 2021. The regulator claimed Crews raised at least $800,000 from around 200 investors by selling a supposed crypto asset security named "Stemy Coin." Many investors were reportedly solicited through connections within African-American and church communities. The SEC accused Crews of misleading investors with false claims that the token was backed by stem cell technology and tangible assets like gold, and that his company had operational labs, products, and a history of delivering stem cell treatments.
Further allegations from the SEC highlighted Crews's deceptive practices, including promoting non-existent partnerships with doctors and research teams. The agency asserted that Crews and his entities lacked any stem cell technology, products, operations, or partnerships with the claimed entities. The complaint detailed violations of several federal securities laws, including fraud provisions of the Securities Act and Exchange Act, as well as registration violations. This judgment marks a notable success for the SEC in its crypto enforcement efforts, which have seen a reduction under U.S. President Donald Trump's administration this year.#SEC #CryptoFraud #Judgment #KeithCrews #Cryptocurrency #InvestorProtection #SecuritiesLaws #StemyCoin #FraudulentScheme #FinancialPenalties
🚀 Beijing Court Convicts Four in AI Copyright Infringement Case
#Beijing #Court #CopyrightInfringement #ArtificialIntelligence #AImodels #LegalCase #IntellectualProperty #Crime #Judgment #Artworks
According to PANews, the Beijing Tongzhou Court recently adjudicated and sentenced the first criminal case involving copyright infringement through artificial intelligence-generated models. Four individuals, including Luo, used AI tools to make slight adjustments to original artworks created by others, subsequently mass-producing and selling puzzle products. This illegal activity resulted in profits exceeding 270,000 yuan. The court found their actions constituted copyright infringement, sentencing them to imprisonment and fines, while also confiscating the illegal earnings.#Beijing #Court #CopyrightInfringement #ArtificialIntelligence #AImodels #LegalCase #IntellectualProperty #Crime #Judgment #Artworks
🚀 AI's Impact on Business Strategy and Individual Skills
#AI #BusinessStrategy #IndividualSkills #Execution #CompetitiveEdge #Vision #Judgment #Taste #Web3 #Cryptocurrency #CoreCompetency #Trends #UniqueInsights
Jack Kong, CEO of Nano Labs, posted on X. AI has made execution more affordable, but strategic choices have become more valuable. In businesses, the competitive edge is shifting from execution to vision, while for individuals, it is moving from skills to judgment and taste. This trend is particularly evident in the Web3 and cryptocurrency sectors, where the technical barriers to implementation have lowered. However, the ability to judge trends and allocate assets effectively has become a core competency. What can be easily replicated is no longer scarce; unique insights are now the true assets.#AI #BusinessStrategy #IndividualSkills #Execution #CompetitiveEdge #Vision #Judgment #Taste #Web3 #Cryptocurrency #CoreCompetency #Trends #UniqueInsights