Ripple's Top Lawyer Calls SEC "Broken Regulator," Tron Founder Withdraws Billions of SHIB From Binance, Samson Mow Slams JP Morgan CEO: Crypto News Digest by U.Today

U.Today - Read U.Today's top three news stories to learn what's happening in the world of crypto.

Top Ripple lawyer says Coinbase (NASDAQ:COIN) is fighting against “broken regulator”/h2 In a recent X post, Ripple's top lawyer Stuart Alderoty praised Coinbase CEO Paul Grewal and the company's legal team for their continuing legal fight with the SEC, calling it a "broken regulator." "Big props to @iampaulgrewal and the entire @Coinbase legal team for continuing to fight the good fight against a broken regulator," wrote Alderoty. The endorsement occurs as Coinbase is working to have the damning lawsuit dismissed. Paul Grewal recently posted a thread on the X platform describing Coinbase's position regarding the SEC's lawsuit. Among other things, he wrote that the SEC continues to claim broad authority over all investment types without a clear limiting principle, asserting that the company does not offer securities and is confident in its legal arguments. The crypto community is closely watching the case, since it can set a major precedent for the entire industry.

Tron founder withdraws billions of SHIB from Binance/h2 Data provided by @spotonchain X account shows that Tron founder Justin Sun has recently purchased an impressive amount of Shiba Inu tokens and withdrew them from Binance. However, this was not the only cryptocurrency that Sun acquired; the list of assets includes LINK, FLOKI and other popular cryptos. Upon a closer look into the Tron founder's transactions, we see that his wallet -0x9fcc withdrew $3.54 million worth of crypto. The transactions included 79.443 billion SHIB, 1.7 million MANA, 100,100 BAND, 27.164 billion FLOKI, almost 62,000 LINK, etc. Last December, Sun purchased and withdrew a massive amount of SHIB - 500 billion tokens to be exact - which were then followed by another 77 billion SHIB acquired and withdrawn from Binance. Back then, SHIB team member @vetkusama suggested two likely reasons behind those withdrawals: first, the Tron founder wanted to take part in diminishing the SHIB supply and burn the purchased tokens, and second, perhaps, Sun was planning to bridge Tron blockchain with Shibarium.

$1 million-per-Bitcoin (BTC) advocate Samson Mow slams JP Morgan CEO/h2 Jamie Dimon, CEO at JPMorgan, has recently issued a warning against involvement with Bitcoin, labeling the biggest crypto as a tool mostly used for money laundering and fraud in a recent interview. Dimon's opinion was supported by renowned financier James Lavish, who emphasized the JPMorgan CEO's intelligence, suggesting that he is fully aware of how disruptive Bitcoin can be to traditional banking. However, Samson Mow, a vocal Bitcoin advocate known for his "$1 million per BTC" stance, poured criticism on the banker, saying that instead of fighting Bitcoin, the banking sector should embrace it. According to Mow, Dimon should transition JPMorgan into a "Bitcoin bank" in order for the company to remain relevant in the fast evolving financial world. "Bitcoin is money now. Denying that is just being highly vanguarded," concluded Mow at the end of his X thread.

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This article was originally published on U.Today