Another week ends with an exciting turn of events for the global cryptocurrency world. Among these attractive events, the Ripple coin, Sam-Bankman Fried, and Solana meme seem to have attracted significant interest among cryptocurrency market participants.
Some of the headlines that echoed the sense of madness this week are-
Sam Bankman-Fried's legal battle ends in prison
The epic downfall of FTX, a bankrupt cryptocurrency exchange, has finally been validated as the company's founder, Sam-Bankman Fried, was finally sentenced to 25 years in prison. The 32-year-old was sentenced to prison in federal court in Manhattan under the authority of Judge Louis A. Kaplan after being convicted on multiple charges, including fraud and money laundering, which caused the notable collapse of FTX.
After a series of legal battles since the collapse of FTX, this decision has finally provided investors with huge relief. With numerous legal stories such as impact statements filed in court, continued pressure by the Department of Justice to ensure those convicted are behind bars, and the weight of Sam Coins' history this week, the FTX founder finally faces a decision.
Final call on Ripple and SEC Looms?
Meanwhile, another legal record that seems to have persisted since historical times, Ripple v. US Securities and Exchange Commission, took a dramatic turn this week. The SEC has reportedly asked Judge Analisa Torres to issue a final ruling against Ripple in the XRP lawsuit, and is eyeing a penalty of approximately $2 billion.
This week, the US Securities and Exchange Commission called out Ripple's violations in federal court and asked Judge Torres to issue a final ruling. It includes permanent injunctions, dismissals, prejudgment interest, and nearly $2 billion in civil penalties.
Read Also: Sam Bankman News: 15 Things You Should Know About Sam Bankman, Former CEO of FTX
Solana Meme Coins is organizing a sensation
Solana meme coins, on the other hand, appear to be emerging as a hot topic this week, defying the broader bearish trends seen in meme coins. Although Dogecoin was another meme coin that defied this downward trend, the Solana meme coins, in particular, stood out.
In line with SOL's broader uptrend, the newly launched Meme Dogwifhat (WIF) and Cat in a Dogs World (MEW) coins have captured significant interest from investors. On the one hand, WIF has observed a weekly rise of almost 100%, continuing its upward trajectory, while MEW has sparked speculation of an approximate rise of 140% as of press time.
This has received notable attention among cryptocurrency market traders and investors globally, as even Solana whales seem to have noticed the shift in focus to MEW. With Whale accumulating more than 10% of MEW supply, and shifting its position from BOME to MEW, the Cat in a Dogs World token generated bullish sentiment across the global crypto horizon, followed by other similar accumulations.
Read also: Solana Meme MEW coin rises by 140%, and here is everything
