20 May 2025, 14:27

Pro-XRP Lawyer Calls Bitcoin Maximalists Immature Over Ripple CEO and Lummis Saga

A heated debate has erupted in the crypto community following U.S. Senator Cynthia Lummis’ controversial decision to snub a scheduled meeting with Ripple CEO Brad Garlinghouse . The fallout, which has drawn strong reactions from XRP proponents, was punctuated by a pointed statement from pro-XRP lawyer Bill Morgan, who took to X to criticize Bitcoin maximalists over their celebratory reaction to the canceled meeting. In his sharp rebuke , Morgan remarked, “Imagine being this insecure about Bitcoin that you get all excited because a politician who has long been seen as a Bitcoin maxi will not meet the Ripple CEO. Show me a bitcoin maxi and I will show you a small, immature mind.” His comment encapsulates the growing frustration within the XRP community about the perceived exclusionary behavior of certain pro-Bitcoin figures within the U.S. regulatory and political landscape. Imagine being this insecure about Bitcoin that you get all excited because a politician who has long been seen as a Bitcoin maxi will not meet the Ripple CEO. Show me a bitcoin maxi and I will show you a small immature mind. https://t.co/DnU3xGdJyr — bill morgan (@Belisarius2020) May 19, 2025 Garlinghouse vs. Lummis: A Missed Opportunity for Unity The controversy began when Ripple CEO Brad Garlinghouse revealed that Senator Cynthia Lummis, despite initially agreeing to meet, ultimately canceled their appointment in Washington, D.C., and declined to reschedule. Garlinghouse had traveled to the nation’s capital to engage with lawmakers and push for balanced, forward-looking crypto legislation, especially in the realms of stablecoin regulation and market structure. Senator Lummis, a Republican from Wyoming and one of the most prominent pro-crypto voices in the U.S. Senate, has long been a staunch advocate for Bitcoin. She currently serves as Chair of the Senate’s Digital Assets Subcommittee, a powerful role that places her at the heart of crypto-related policymaking. Her consistent support for Bitcoin has earned her respect from Bitcoin maximalists—individuals who believe Bitcoin is the only legitimate digital asset and regard others, including XRP, as inferior or irrelevant. Garlinghouse’s disappointment over the canceled meeting was palpable. In a statement shared on X, he emphasized the importance of leaders who see the digital asset ecosystem as “multi-chain,” rather than adhering to tribalistic ideologies that favor one asset over others. He praised other elected officials he had met during his visit, noting their willingness to engage with the full spectrum of blockchain innovation—an approach he believes is vital for crafting legislation that fosters innovation while protecting investors. Bitcoin Maximalism vs. Inclusive Crypto Governance Bill Morgan’s remarks highlight a long-standing tension between the Bitcoin maximalist movement and broader blockchain communities. For years, maximalists have positioned Bitcoin as the sole legitimate use case for decentralized ledger technology, often dismissing other projects as scams or distractions. While this ideological purity may appeal to certain segments of the crypto world, critics argue that it hinders meaningful dialogue, undermines collaboration, and stifles policy progress. In contrast, Garlinghouse and other multi-chain advocates argue that the future of finance will not be built on one blockchain alone. From tokenized assets and stablecoins to cross-border payment solutions and decentralized identity, the crypto landscape is increasingly diverse. Companies like Ripple have invested heavily in real-world use cases that rely on assets like XRP, not as speculative instruments, but as tools for scalable financial infrastructure. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 The clash between these philosophies—exclusivity versus inclusivity—was crystallized in Lummis’ refusal to engage with Garlinghouse. While she is under no obligation to meet every industry leader, her role as a national legislator, particularly one guiding digital asset policy, arguably demands a broader and more impartial perspective. Dismissing an entire company and its CEO, especially one at the forefront of crypto regulation battles with the U.S. Securities and Exchange Commission, sends a troubling message about how open the legislative process is to diverse voices within the space. The Path Forward: Collaboration Over Division The episode serves as a microcosm of a larger struggle unfolding within the crypto industry: whether to embrace the full range of technological possibilities or to double down on ideological rigidity. For the digital asset ecosystem to evolve and integrate responsibly into the global economy, its leaders—both in the private sector and in government—must rise above factionalism. Brad Garlinghouse’s visit to Washington was, by his own words, about finding “sensible” and “pragmatic” paths forward for crypto regulation. His attempt to engage with Senator Lummis should have been a step toward that goal. Instead, it has ignited a culture war within crypto—one that, if left unchecked, could obstruct the bipartisan progress many in the industry have worked hard to achieve. Bill Morgan’s criticism of Bitcoin maximalists may sound provocative, but at its core, it’s a call for maturity, respect, and inclusion. The future of crypto depends not on loyalty to a single protocol, but on our collective ability to engage in honest, informed, and open dialogue—something that is sorely needed in Washington and beyond. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Pro-XRP Lawyer Calls Bitcoin Maximalists Immature Over Ripple CEO and Lummis Saga appeared first on Times Tabloid .

20 May 2025, 14:02

Binance Urges U.S. Court to Dismiss Class Action, Citing Arbitration Clause in User Terms

Binance, the world’s largest cryptocurrency exchange, has asked a U.S. court to dismiss a class action lawsuit filed by American investors, citing an arbitration clause in its user agreement. The motion was submitted on Friday, marking the latest legal maneuver by the company as it continues to face regulatory and legal pressure in the United States. The class action, filed earlier this year in the Northern District of California, accuses Binance of violating securities laws by offering and promoting unregistered crypto tokens. The plaintiffs also allege that Binance misled investors about the safety and regulatory status of certain assets listed on its platform. Binance Seeks Dismissal Based on Arbitration Clause On March 28, U.S. District Judge Andrew L. Carter Jr. ruled that Binance could not force arbitration for users who purchased tokens between April 1, 2017, and February 20, 2019, prior to the implementation of its amended terms of use. For users who bought tokens after that date but before receiving actual notice of the arbitration clause, the judge also denied Binance’s motion, but without prejudice. He then vacated that decision on April 16, allowing both parties to file additional briefs on the issue. In its motion to dismiss, Binance argues that its user agreement includes a binding arbitration clause and a class action waiver, which requires disputes to be resolved privately rather than in court. The clause, the company claims, was clearly disclosed and agreed to by users at the time of account registration. “Each Plaintiff agreed to resolve any disputes through binding arbitration governed by the rules of the Hong Kong International Arbitration Centre,” Binance’s legal team stated in the filing. The exchange further emphasized that the plaintiffs’ claims fall squarely within the scope of the arbitration clause. Binance argues users agree to arbitrate all claims by accepting the terms of service Source: Law360.com “Plaintiffs who accepted the 2019 terms agreed to arbitrate all claims arising on or after Feb. 20, 2019,” Binance said. It also claimed that its earlier terms already allowed unilateral amendments without notifying individual users, suggesting those users should be bound retroactively. Global Legal Heat Continues as Arbitration Strategy Comes Under Scrutiny This legal dispute stems from a broader class action initially dismissed in 2022, when Judge Carter sided with Binance’s argument that it was not subject to U.S. securities laws due to its offshore status. That decision was overturned in March 2024 by the Second Circuit Court of Appeals , and the Supreme Court declined to hear Binance’s appeal in January. Beyond this case, Binance continues to face mounting legal pressures globally. In the U.S., it settled with regulators in November 2023 for $4.3 billion over allegations of selling unregistered securities and failing to maintain proper compliance controls. Former Binance CEO CZ’s Guilty Plea Accepted by US Judge @cz_binance , former CEO of @Binance known as CZ, had his guilty plea accepted by a U.S. judge in a case involving anti-money laundering regulations. #CryptoNews https://t.co/Pe1gZxNIt8 — Cryptonews.com (@cryptonews) December 7, 2023 Founder Changpeng Zhao pleaded guilty to a related criminal charge and agreed to a $150 million personal settlement, while Binance paid $2.7 billion to the Commodity Futures Trading Commission (CFTC). Cryptocurrency exchange Binance has been slapped with a new class-action lawsuit in Canada following allegations of security law violations. #Binance #BinanceCanada https://t.co/2583C2gfqP — Cryptonews.com (@cryptonews) April 23, 2024 Binance’s legal troubles have also spread to Canada, where a class action lawsuit was filed in April 2024 over alleged securities law violations following its exit from the market in 2023. The post Binance Urges U.S. Court to Dismiss Class Action, Citing Arbitration Clause in User Terms appeared first on Cryptonews .

20 May 2025, 13:56

S&P 500 slips as stocks signal pullback

U.S. stocks slid in early trades on Tuesday, May 20, 2025, with the S&P 500, Dow Jones Industrial Average and Nasdaq opening lower. The Dow Jones Industrial Average opened nearly 50 points down, while the S&P 500 slipped 0.3%. Stocks ’ struggles in early trades on Tuesday hinted at possible cool down, with Nasdaq Composite also opening down 0.4%. The largely uninspired trading comes after Wall Street optimism helped major indices higher, with the S&P 500 notching six straight days of gains. A pullback would see U.S. stocks snap its winning streak. Performance across the equities market on Tuesday contrasted with investor reaction on Monday. Jamie Dimon, chief executive officer of JPMorgan, told investors and clients when speaking at the bank’s investor day that the market was dangerously complacent. According to Dimon, who said JPMorgan will allow clients to buy Bitcoin ( BTC ), noted the prevailing geopolitical and macroeconomic risks aside, people haven’t really witnessed effective tariffs. “The market came down 10%, [it’s] back up 10%. That’s an extraordinary amount of complacency,” he noted. The JPMorgan CEO’s comments came as the credit ratings firm Moody’s downgraded the U.S. But despite Moody’s downgrade of U.S. credit rating, most market experts are bullish. You might also like: JPMorgan’s Dimon says he will allow clients to buy Bitcoin Wells Fargo, for instance, has advised investors to buy American and other developed markets’ stocks and reduce exposure to emerging markets. The firm’s take is that emerging markets stocks do not have the same long-term potential as the large and mid-cap shares from the U.S. and other developed markets. The firm also sees commodities and some fixed income assets as better bets for investors looking to reduce risk. WELLS FARGO: BUY U.S. STOCKS, AVOID EMERGING MARKETS Wells Fargo advises investors to reduce emerging market (EM) stock holdings, despite recent gains, citing weak long-term performance and structural risks like political instability and China’s economic issues. The firm sees… — *Walter Bloomberg (@DeItaone) May 20, 2025 In the major stock movement, Home Depot shares rose slightly despite the home improvement chain posting mixed earnings. While revenue rose 9.4% year-over-year to $39.86 billion, net earnings per share fell 4.95% to $3.45, off consensus expectation of $3.59. The surge in the company’s stock nonetheless helped the Dow slightly up. U.S. Treasury yields remained elevated, though slightly pulled back from levels seen in the previous session. The 30-year Treasury yield hovered around 4.961%, off Monday’s surge past 5%. Meanwhile, the 10-year yield hovered around 4.493% and the 2-year Treasury yield was at 3.987%. Cryptocurrencies were looking to continue higher as BTC traded near $105k, up 2.2% in the past 24 hours. Among altcoins, Ethereum ( ETH ) hovered near $2.5k. Elsewhere, gold was up 0.15% at $3,237. You might also like: Bitcoin options data suggest spike in volatility despite seasonal calm ahead: Kaiko

20 May 2025, 13:55

Market Analysis Report (20 May 2025)

Senate Clears Key Hurdle for Stablecoin Bill, Paving Way for Final Vote | JPMorgan to Open Bitcoin Access to Clients Despite CEO Jamie Dimon's Continued Criticism | U.S. Justice Department Investigates Cyberattack Targeting Coinbase

20 May 2025, 13:55

Binance wants the $1.76B FTX lawsuit dismissed, blames SBF for collapse

Binance has filed a motion in Delaware Bankruptcy Court to dismiss a lawsuit brought by the estate of FTX Trading Ltd., which seeks to recover $1.76 billion related to a 2021 share buyback deal. The crypto exchange contends that the estate is attempting to redirect blame for its collapse from the criminal misconduct of founder Sam Bankman-Fried. In the motion submitted on May 16, Binance’s legal team called the suit “legally deficient,” adding that FTX’s bankruptcy was the result of internal failures rather than any wrongful action on Binance’s part. According to the filing, the lawsuit “goes to almost absurd measures to downplay” the role of Bankman-Fried, who was convicted in 2023 of seven counts of fraud, conspiracy, and money laundering and is now serving a 25-year federal prison sentence. Dispute over $1.76 billion transfer The plaintiffs are suing Binance on the basis of a July 2021 transaction, in which the former sold its equity stake in FTX back to the company. In return, Binance allegedly received a substantial sum in crypto assets, funds the FTX estate claims were improperly drawn from customer deposits. The bankruptcy estate alleges this deal was executed while the exchange was already insolvent, making it a fraudulent transfer under US bankruptcy law. Binance expostulates the claims, saying FTX was operating for 16 months after the transaction and insists that no insolvency existed at the time. The crypto exchange added that the entities named in the lawsuit, Binance Holdings Limited and related affiliates, were not parties to the share repurchase agreement and are not properly identified as transferees. The crypto exchange wants courts to dismiss the complaints for failing to meet the legal requirements for an intentional or constructive fraudulent transfer. Among its arguments, Binance invokes the Bankruptcy Code’s “safe harbor” provision, which shields certain financial transactions from clawback claims. It propounded that FTX did not receive less than “reasonably equivalent value” for the repurchase or “Binance acted with fraudulent intent.” Binance says case lacks jurisdictional grounds and causality In another element of Binance’s defense, the US court lacks authority over the foreign entities listed in the complaint, none of which are incorporated or based in the United States. “ General jurisdiction exists only if the entity-defendant is essentially ‘at home’ in the forum, but Plaintiffs’ own allegations confirm that the BHL Defendants are not ‘at home’ in the US: they are foreign corporations with foreign headquarters ,” Binance’s lawyers surmised. In its filing, Binance insisted that Zhao’s tweet was prompted by information already in the public domain, specifically referencing a November 2, 2022, CoinDesk report that exposed an overlap between FTX and its sister firm, Alameda Research, not evidence of manipulative intent. “ The Complaint contains no such facts ,” Binance stated. The company’s lawyers argue that many of the allegations are speculative theories and unverified statements made in hindsight, often originating from a “convicted fraudster,” identified as Bankman-Fried. Second round of FTX creditor payouts scheduled Away from court sessions, the FTX estate is proceeding with its second round of payouts to creditors. On May 15, 2025, FTX Trading Ltd. and the FTX Recovery Trust announced the next phase of distributions as part of their Chapter 11 Plan of Reorganization. According to the announcement, eligible creditors who have completed all pre-distribution steps can expect to receive funds starting May 30. The payments will be delivered through BitGo or Kraken, two designated distribution service providers, and should arrive within one to three business days of the release date. The plan outlines varying payout percentages depending on the class of claim. Dotcom Customer Entitlement Claims (Class 5A) will receive 72% of their approved amount. KEY Difference Wire : the secret tool crypto projects use to get guaranteed media coverage

20 May 2025, 13:45

Forbes Releases Bullish Factors for XRP Price Rally In 2025

As 2025 unfolds, XRP finds itself at the center of critical conversations in the crypto space. The digital asset, which once faced regulatory hurdles and skepticism, is now poised for a possible resurgence, provided key catalysts align in its favor. In a recent analysis by Forbes contributor Zennon Kapron, four major themes are identified as the primary forces that could determine the direction of XRP’s price and market relevance in the coming year. Legal Clarity Could Unlock Market Access Foremost among these themes is the impact of regulation, especially within the U.S. market. XRP’s legal battles with the Securities and Exchange Commission (SEC) have long cast a shadow over its performance. However, the saga appears to be nearing its conclusion. Ripple and the SEC have agreed to a reduced penalty of $50 million as part of a final settlement, a far cry from the regulator’s original demands. Despite the judge recently postponing formal approval of the agreement due to procedural issues, Ripple’s chief legal officer has assured the community that this delay does not affect the settlement itself or the company’s previous legal victories. Notably, in 2023, the court determined that XRP is not a security when sold on exchanges—a ruling that sparked a 100% price surge within hours. With the last legal hurdles nearing resolution, investor optimism is growing, and many believe that full regulatory clarity could reignite institutional interest and unlock XRP’s reentry into the U.S. financial ecosystem. Utility and Institutional Demand Hold the Key Beyond the courtroom, XRP’s real-world value proposition is under scrutiny. Kapron emphasized that institutional integration, not retail hype, will be the key to XRP’s sustained relevance. Ripple has long promoted the use of XRP in cross-border transactions through Ripple Payments (formerly known as On-Demand Liquidity), offering a streamlined solution that leverages XRP as a bridge currency between fiat pairs. Yet the ecosystem is evolving. Ripple recently introduced RLUSD, a USD-backed stablecoin, giving institutions the flexibility to choose between XRP and a stablecoin alternative. While this move broadens the utility of Ripple’s payment solutions, it has also sparked debate among community members who fear that XRP’s utility may be relegated to a peripheral role. The long-term impact will largely depend on how many financial entities opt to incorporate XRP directly into their settlement flows. Staying Competitive in a Crowded Tech Landscape On the technological front, XRP’s once-distinct advantages—low costs and fast settlement—are no longer rare in the blockchain space. Competing platforms and Layer-2 solutions are narrowing the performance gap, raising pressure on Ripple to innovate. Kapron’s report stresses that continual technical enhancements will be essential if XRP is to maintain a competitive edge. Future success, according to the analysis, hinges on the deployment of protocol upgrades that improve scalability, enhance privacy features, and enable interoperability with other blockchain ecosystems. Interchain connectivity is becoming increasingly important as the industry shifts toward modular and cross-network architectures. For XRP to remain a viable settlement asset, its underlying infrastructure must evolve in lockstep with broader industry trends. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 ETF Developments Signal Growing Institutional Appetite Another significant factor in XRP’s 2025 outlook is the emergence of exchange-traded funds (ETFs). Brazil recently became the first country to launch an XRP ETF, a milestone that reflects growing institutional interest in structured investment products centered around the asset. In the U.S., the conversation is gaining traction, with over 10 XRP spot ETF applications currently under SEC review. Grayscale’s application is among the most closely watched, with a decision expected soon. Meanwhile, XRP-linked leveraged ETFs have already been approved and are attracting notable trading volume, suggesting that appetite for exposure to XRP is growing among professional investors. Should the SEC greenlight one or more spot ETFs, it could significantly boost liquidity and elevate XRP’s profile in traditional financial circles. A Pivotal Year Ahead The Forbes report ultimately concludes that speculation alone will no longer carry XRP. The digital asset’s long-term viability will be judged on metrics of adoption, technological competitiveness, and regulatory alignment. If Ripple can successfully convert its broad network of partnerships into active, on-chain use of XRP, the token may yet witness a renaissance. However, if the broader ecosystem gravitates toward stablecoins or alternative settlement networks, XRP could risk slipping further out of the spotlight. As 2025 progresses , all eyes will be on how Ripple navigates this transitional period, where opportunity and risk are in delicate balance. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Forbes Releases Bullish Factors for XRP Price Rally In 2025 appeared first on Times Tabloid .