Connect with us

Published

on

<div>Ripple: Judge's settlement rejection has no effect on legal victory</div>

Ripple’s legal chief said a US court’s rejection of a proposed XRP settlement with the Securities and Exchange Commission (SEC) does not pose a threat to Ripple’s win.

Judge Analisa Torres of the US District Court for the Southern District of New York rejected a joint Ripple-SEC motion seeking an indicative ruling on their proposed settlement, according to a filing on May 15.

Ripple’s chief legal officer, Stuart Alderoty, said the rejection does not reverse the company’s victory in the case. The company announced the end of the lawsuit on March 19.

Ripple: Judge's settlement rejection has no effect on legal victory
Source: Stuart Alderoty

Alderoty stressed that the latest court decision does not change the fact that XRP (XRP) is not a security, adding that the rejection is related to “procedural concerns with the dismissal of Ripple’s cross-appeal.”

Why did the court refuse to grant the ruling?

According to the court document, Torres denied the motion as “procedurally improper” since the SEC and Ripple failed to file the correct procedural motion to support the proposed settlement.

“By styling their motion as one for ‘settlement approval,’ the parties fail to address the heavy burden they must overcome to vacate the injunction and substantially reduce the civil penalty,” the Judge wrote.

Ripple: Judge's settlement rejection has no effect on legal victory
An excerpt from the court’s rejection of the SEC-Ripple motion on May 15, 2025. Source: Courtlistener

The SEC and Ripple agreed to lower the court’s $125 million fine days before Ripple CEO Brad Garlinghouse announced the end of the case. Subsequently, Alderoty disclosed on X that the SEC will keep $50 million of the $125 million fine.

“The parties have made no effort to satisfy that burden here; their request does not even mention the Rule,” the court document stated.

Community asks for explanation

As Alderoty has not provided any details on the nature of procedural concerns by the court, but assured the public that Ripple and the SEC are “fully in agreement to resolve the case,” many in the community were unhappy with the lack of specifics from Ripple.

“First, in a recent post about this case, you said you would not be making any more X posts because the case was closed,” one XRP observer responded to Alderoty in the X thread.

Ripple: Judge's settlement rejection has no effect on legal victory
Source: X thread from Stuart Alderoty

“Second, I don’t think it’s enough to just say that it’s procedural. I think further explanation of what went wrong in the filing is needed,” one XRP observer wrote in an X thread,” the post continued.

Related: Ripple commits $25M to US school nonprofits

“Let’s remember that both he and Brad said the case was over, and it still isn’t; they’re cheating us a little,” another user speculated.

The news came shortly after online reports suggested that US President Donald Trump was allegedly manipulated by a Ripple-linked lobbyist into announcing the XRP token would be part of his plans for a national cryptocurrency reserve.

Many in the Bitcoin (BTC) community have been slamming Ripple for advocating for a multi-coin strategic reserve, instead of a Bitcoin-only reserve.

Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

Continue Reading

Politics

Why are prisoners being released by mistake?

Published

on

By

Why are prisoners being released by mistake?

👉 Click here to listen to Electoral Dysfunction on your podcast app 👈

Who is to blame for two more inmates being wrongly freed from prison? The Conservatives attempted a mic drop moment with David Lammy this week by trying to get the justice secretary to admit to it live in the House of Commons.

So why did Lammy avoid the question five times? And when 262 prisoners were released by mistake in the year to March – how is this happening every week?

At the very least, Harriet sees the saga as an opportunity for the government to sort out the prison service.

Plus Beth, Ruth and Harriet are joined by pollster Luke Tryl, and a group of voters who tell us why they’re not convinced by the prime minister so far.

So how tricky is this budget going to be for Rachel Reeves when most people’s top worry is the cost of living? Can she actually put up taxes? And will more people just end up supporting Nigel Farage and Zack Polanski?

Remember, you can also watch Beth Rigby, Harriet Harman and Ruth Davidson on YouTube.

Continue Reading

Politics

Mistaken prison releases could be ‘opportunity’ for justice secretary, Harriet Harman says

Published

on

By

Mistaken prison releases could be 'opportunity' for justice secretary, Harriet Harman says

Multiple mistaken prisoner releases could actually be an “opportunity” for David Lammy, Harriet Harman has said.

Speaking to Sky News’ Electoral Dysfunction podcast with political editor Beth Rigby, the Labour peer said the release errors are a chance for the justice secretary to “roll up his sleeves” and sort out his department.

It emerged on Wednesday that two prisoners were wrongly freed from HMP Wandsworth last week. It follows the high-profile release of migrant sex offender Hadush Kebatu from HMP Chelmsford.

Baroness Harman said this has “shone a spotlight on a systemic problem which needs to be sorted out”.

Rather than become a “ding dong” between Labour and the Tories, she said: “I think ironically it’s a bit of an opportunity for him [Lammy] to actually be able to roll up his sleeves and insist the department gets the resources and the focus it needs to sort out this problem, which is not a new problem.”

Please use Chrome browser for a more accessible video player

What’s wrong with our prisons?

She added that figures showing 262 prisoners were mistakenly released in the 12 months to March 2025 is “five a week, more or less being let out early” and “we don’t even know that is the full extent”.

Mr Lammy, who is also the deputy prime minister, is under fire over his handling of the saga.

More on David Lammy

He stood in for Sir Keir Starmer at PMQs on Wednesday when he refused to answer whether any more asylum seekers had been wrongly released since Kebatu, an Ethiopian national, who was later deported.

Please use Chrome browser for a more accessible video player

Lammy says he didn’t want to ‘mislead’ the Commons or public

As PMQs was ending, the story broke that Algerian sex offender Brahim Kaddour-Cherif had been released in error. It has since emerged that Mr Lammy was made aware of this overnight on Tuesday.

He has defended not revealing that he knew about the incident, saying he did not have the full details and did not want to mislead the public.

Read more from Sky News:
Andrew Mountbatten Windsor summoned by US Congress
‘Iconic, wise’ Shirley Valentine actress Pauline Collins dies
Elon Musk’s $1 trillion pay package

Mr Lammy is also being criticised as following Kebatu’s mistaken release, he promised on 27 October that stronger prison checks would be introduced immediately.

Brahim Kaddour-Cherif and William Smith
Pic: Met Police/Surrey Police
Image:
Brahim Kaddour-Cherif and William Smith
Pic: Met Police/Surrey Police

But Kaddour-Cherif was released in error two days later, on 29 October, while another prisoner, William “Billy” Smith, was mistakenly released on Monday.

Smith handed himself in on Thursday, while Kaddour-Cherif is still on the run.

Continue Reading

Politics

Starmer says Lammy ‘setting out facts to best of his knowledge’ on prisoner releases

Published

on

By

Starmer says Lammy 'setting out facts to best of his knowledge' on prisoner releases

Sir Keir Starmer has said David Lammy “set out the facts” on mistaken prisoner releases “to the best of his knowledge” amid questions over what the justice secretary knew and when.

Speaking for the first time since it emerged two prisoners were wrongly freed from HMP Wandsworth, the prime minister also said the situation was “intolerable” and that he was “angry and frustrated”.

The Met Police announced on Wednesday afternoon that registered sex offender Brahim Kaddour-Cherif, an Algerian national, had been released in error on 29 October. He is still at large.

A few hours later it was revealed another prisoner, 35-year-old William “Billy” Smith, had been wrongly released on Monday – the same day he was convicted for multiple fraud offences and handed a 45-month jail term. He has since handed himself in.

Asked how the public can have confidence in the justice system, Sir Keir said: “Let me just say how angry and frustrated I am that these mistakes have been made in releasing people. They’re intolerable, and they shouldn’t be made.

“A lot of it comes from the burden and the strain on the system because of the failures of the last government. But I recognise it’s our job to step up and to fix this.”

More on David Lammy

Sir Keir went on to defend Mr Lammy’s handing of the saga, which comes a week on from the mistaken release of Ethiopian sex offender Hadush Kebatu, who has since been deported.

Mr Lammy declared on 27 October that stronger prison checks in light of the Kebatu fiasco would come into force immediately.

But on Thursday, he said those checks were not in place when Kaddour-Cherif was released two days later.

Asked whether he was being truthful last week or on Thursday, Sir Keir said: “David Lammy can speak for himself on that.

“I’m absolutely clear that he’s setting out the facts, to the best of his knowledge and that’s the right thing for him to do.

“But whatever the checks, it’s intolerable. So, we have to make sure that whatever changes are needed are made.”

Government sources have said the mistakes that triggered the release of Kaddour-Cherif happened at the end of September, before the new regime was put in place.

Meanwhile on Thursday night, the Ministry of Justice (MoJ) announced the rollout of “cutting-edge technology to more prisons” in order to reduce human error and modernise “the archaic processes that have led to mistakes”.

“These measures will build on the tough new checks that were brought in last month, and ensure governor oversight of all releases,” the MoJ said.

Mr Lammy, who is also the deputy prime minister, is facing further criticism for failing to reveal that he knew of Kaddour-Cherif’s release during PMQs on Wednesday, when he was filing in for Sir Keir who is at the COP summit in Brazil.

He was asked repeatedly by Tory leader Kemi Badenoch whether any more asylum seekers had been wrongly released since Kebatu and refused to answer the question. The news broke at the end of PMQs.

On Thursday, Mr Lammy said he did not have all the details in the morning and did not want to mislead the public.

Please use Chrome browser for a more accessible video player

Lammy: didn’t want to mislead House on prisoner release

He told broadcasters: “I took the judgment that it is important when updating the House and the country about serious matters like this, that you have all of the details.

“I was not equipped with all of the detail, and the danger is that you end up misleading the House and the general public.

“So that is the judgment I took. I think it’s the right judgment.”

But shadow justice secretary Robert Jenrick said: “David Lammy has either lied or has absolutely no clue what’s going on in his department.

“How can the public have confidence in the justice secretary when he can’t establish a timeline of events or answer basic questions?”

Kaddour-Cherif was serving a sentence at HMP Wandsworth for trespass with intent to steal, but had previously been convicted for indecent exposure.

It is understood he is not an asylum seeker but is in the process of being deported after he overstayed his visa.

Continue Reading

Trending