Another week ends with some interesting events witnessed in the global cryptocurrency space. Among these eye-catching events, Ripple, Sambankman Freed, and Solana meme coins appear to have garnered considerable attention among crypto market participants.
Here are some of the top headlines reflecting this week's excitement:
Sam Bankman Freed's legal battle ends in prison
The epic collapse of bankrupt cryptocurrency exchange FTX has finally been vindicated as the company's founder, Sam Bankman Fried, was ultimately sentenced to 25 years in prison. The 32-year-old was sentenced to prison in federal court in Manhattan under the authority of Judge Lewis A. Kaplan after being found guilty of multiple charges, including fraud and money laundering, that contributed to FTX's notable downfall. received the verdict.
After a series of legal battles since FTX's collapse, this decision finally brings great relief to investors. A variety of legal issues, including impact statements filed in court, the Department of Justice's continued push to ensure those convicted remain behind bars, and the weight of Sam Coyne's chronicle weigh in this week. Meanwhile, the founders of FTX are finally forced to make a decision.
Is the final battle between Ripple and SEC approaching?
Meanwhile, another legal record that seems to have been around since historic times, Ripple vs. US SEC, took an exciting turn this week. The SEC is reportedly asking Judge Annalisa Torres for a final judgment against Ripple in the XRP case, eyeing a fine of about $2 billion.
This week, the US SEC reversed Ripple's violations in federal court and asked Judge Torres to issue a final judgment. This includes a permanent injunction, disgorgement, prejudgment interest, and approximately $2 billion in civil penalties.
Also read: Sam Bankman News: 15 things to know about former FTX CEO Sam Bankman
Solana Meme Coins curate buzz
Meanwhile, Solana meme coins seem to have emerged as a hot topic this week, defying the broader downtrend by meme coins. Dogecoin was another meme coin that bucked this downward trend, but Solana meme coin in particular stood out.
In line with SOL’s broader uptrend, meme coin Dogwifhat (WIF) and the newly launched Cat in a Dogs World (MEW) attracted significant investor attention. On the one hand, WIF continued its upward trajectory with a weekly gain of around 100%, while MEW, on the other hand, sparked speculation with an increase of around 140% at the time of writing.
This has caught the attention of traders and investors in the cryptocurrency market around the world, and it seems that it has been noticed that even Solana Whale is shifting its focus to MEW. Cat in a Dogs World token has bullish sentiment across the global cryptocurrency horizon as the whale accumulates more than his 10% of his MEW supply and switches its position from his BOME to MEW , which was followed by other similar accumulations.
Also read: Solana Meme Coin MEW gains 140%, this is all about it
