XRP vs SEC News: Ripple’s Exec Chairman To Meet SEC’s Paul Atkins? 

Monicah W

The post XRP vs SEC News: Ripple’s Exec Chairman To Meet SEC’s Paul Atkins?  appeared first on Coinpedia Fintech News

A high-stakes meeting is set to take place soon, which could be a turning point in the crypto industry. Ripple’s Executive Chairman and co-founder, Chris Larsen, is all set to meet with the new SEC Chair, Paul Atkins, on May 2, 2025. 

With crypto rising as a priority under the Trump administration, the meeting could be a key development for Ripple, XRP, and the crypto industry.

Atkins, who has been the former SEC Commissioner, has already expressed his support for blockchain innovation. At a recent roundtable conference on April 25, he said that the SEC should stop holding back crypto growth and should work on developing clear, supportive rules. 

What To Expect From the Meeting?

The agenda for the meeting is not confirmed yet, however, a settlement or resolution of the SEC vs Ripple case is expected. This could set a precedent for how other digital assets are treated in the future.

The possible outcomes could include clarifications on whether XRP is a security, which has been a long-debated issue. There could also be a discussion on how blockchain can improve global payments, which would increase XRP’s adoption. 

The pro-crypto SEC Chair has also expressed interest in creating a regulatory sandbox for crypto, which will allow companies to test new ideas without strict rules, helping more blockchain projects grow in the U.S.

XRP ETF Approval Chances Rise to 85%

With the crypto market recovering after the recent tariff turmoil, excitement around ETFs is growing. Recently, Bloomberg ETF analyst Eric Balchunas shared a report suggesting that XRP has an 85% chance of ETF approval by the SEC in 2025. 

XRP could be set for a breakout ahead. It is currently trading at $2.23, up over 3% in the past 24 hours. 

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Genius Group Forced to Liquidate Its Bitcoin Holdings, Here’s Why

Genius Group Forced to Liquidate Its Bitcoin Holdings, Here's Why

Genius Group, a Singapore-based education and technology company, must sell its Bitcoin holdings following a US court order. The decision is part of its legal dispute that has blocked the company from raising funds, issuing shares, or making further Bitcoin purchases. 

The Genius Group Lawsuit

In a major development, a United States court ruling has placed strict financial restrictions on Genius Group, preventing it from issuing shares or raising capital. 

The firm’s announcement shows that the American District Court for the Southern District of New York approved a preliminary injunction halting its ability to generate revenue through stock sales.

The dispute was a precedent from a collapsed agreement between Genius Group and Fatbrain AI. Genius attempted to cancel a deal with Fatbrain AI, leading to fraud accusations from shareholders and an SEC investigation. 

The legal dispute, as described by the firm, has now come with a Temporary Restraining Order (TRO), blocking access to investor funds and forcing the company to start selling its Bitcoin holdings.

Reports indicate that Moe and Ritz were accused of orchestrating a scheme to extort millions from Genius Group by misusing legal processes, including the Temporary Restraining Order (TRO) and Preliminary Injunction (PI). On February 14, 2025, they filed for a TRO and PI to prevent Genius from selling any shares, raising funds, or utilizing its $150 million ATM funding, specifically blocking the purchase of Bitcoin. 

As a result, the court placed a temporary restraining order on Genius Group, blocking access to investor funds and forcing the company to begin selling its Bitcoin holdings.

Unfortunately, Genius Group said its BTC reserves have dropped from 440 BTC to 430 BTC. If the legal battle continues, potential sales may follow. Since the ruling, Genius’ share price has dropped 53% from $0.47 to $0.22, and the Company’s market capitalization is currently 40% of the value of its Bitcoin Treasury.

Genius Group Bitcoin Pivot and Related Firms

Genius Group is one of the growing number of corporate institutions investing in Bitcoin. In November 2024, the Genius Group implemented a bold Bitcoin-first strategy, allocating Bitcoin as its treasury reserve asset.

Chief Executive Officer Roger James Hamilton has advocated for Bitcoin, positioning Genius Group as a Bitcoin-first company. The company adopted cryptocurrency as a financial strategy, borrowing MicroStrategy’s BTC playbook. 

Earlier, it approved a $33 million rights offering to buy BTC. However, the court order may force it to change its approach to Bitcoin acquisition.

Firms like Strategy, Metaplanet, and Tesla have added Bitcoin to their balance sheets, seeing it as a hedge against inflation and economic uncertainty. Strategy has been more aggressive with its Bitcoin acquisition campaign. Recently, MicroStrategy acquired 22,048 BTC for $1.92 billion at an average price of $86,969 per Bitcoin.

Should Pro-Bitcoin Firms be Concerned?

Meanwhile, the legal case against Genius Group raises concerns for other companies holding Bitcoin. 

While firms like MicroStrategy continue to accumulate Bitcoin, Genius Group’s case shows the legal risks involved. Many experts believe that as long as an organization adheres to the stipulated guidelines set by the authorities, there is nothing to fear regarding lawsuits. 

While this may not have been the case with the previous administration, the current US SEC leadership has maintained a largely pro-crypto stance.

The post Genius Group Forced to Liquidate Its Bitcoin Holdings, Here’s Why appeared first on CoinGape.

XRP Lawyer Questions Coinbase’s Self-Centric Motives: Here’s All

XRP Lawyer Questions Coinbase's Self-Centric Motives: Here's All

Coinbase, a prominent crypto exchange, draws a severe rebuke from XRP lawyers amid the Ripple Vs SEC lawsuit debate. In a recent development, XRP lawyer Bill Morgan questioned Coinbase’s selfish motives, highlighting their deafening silence.

Meanwhile, legal expert Fred Rispoli accused Coinbase of acting out of self-interest. Rispoli asserted that the crypto exchange’s actions are driven by profit rather than community benefits.

XRP Lawyer Slams Coinbase for Selfish Motives

Recently, XRP lawyer Bill Morgan criticized Coinbase and its chief legal officer Paul Grewal for being clearly guided by selfish motives. Morgan shed light on their explicit silence until they found themselves embroiled in a legal dispute with the US Securities and Exchange Commission. In an X post, Bill Morgan stated, “Coinbase and Paul Grewal were silent until the SEC targeted Coinbase.”

Notably, Morgan’s statement underscores the silence of Coinbase and Paul Grewal during Ripple’s prolonged legal battle with the SEC. According to Morgan, Coinbase has remained tight-lipped since 2020 when the SEC filed a lawsuit against Ripple. The XRP lawyer added that the exchange broke its silence only when it was directly impacted by the SEC’s actions.

Lawyer Exposes Coinbase’s Self-Centric Actions

Reinforcing Bill Morgan’s claims, another pro-XRP lawyer Fred Rispoli slammed Coinbase for being influenced by self-centric motives. He asserted that the crypto exchange’s actions are rooted in greed, rather than a genuine desire to serve the crypto community.

Completely agreeing with Morgan’s arguments, Rispoli stated,

Everything this company does is purely out of self-interest. Not saying corps shouldn’t look after the bottom line but don’t pretend you were “for the people” from Day 1 (b/c your ToS with customer restrictions is exactly the opposite of this).

This comes following Ripple CEO Brad Garlinghouse’s stunning revelation that the SEC would dismiss the XRP lawsuit.

Paul Grewal Acknowledges Ripple’s Efforts

Coinbase, the top crypto exchange, faces this increased backlash following Paul Grewal’s interview with MetaLawMan. During the interview, Grewal acknowledged leading Ripple community members including Stewart Alderoty and John Deaton’s efforts in the XRP case. Grewal stated,

There were many others fighting alongside us and many who are actually fighting even before we got dragged into this…I think people like Stuart Alderoty and John Deaton, folks who really bor the brunt of Mr. Gensler’s early efforts to crack down on crypto and essentially stamp it out before it could become large enough.

However, in response to Grewal’s statements, pro-XRP lawyer MetaLawMan shared an X post, highlighting Ripple’s solo journey in the long-held lawsuit. He stated, “Regardless of which crypto tribe you align with, I think we should acknowledge that Ripple’s lonely fight against the SEC was key to the survival of the crypto industry in the U.S.”

MetalawMan has been vocal in the XRP lawsuit updates and possible outcomes. He believed that an early settlement in the case was unlikely, citing the complexities of the case.

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