SEC Binance Lawsuit Paused 60 Days + Justin Sun Denies Rumors CZ Turned on Him
As the SEC softens its crypto stance under new Trump-era leadership, Ripple and Binance edge toward settlements, Justin Sun pushes back on betrayal rumors, and Trump-linked DeFi project WLFI denies an $8M ether selloff.
Because Bitcoin
April 11, 2025
Ripple and SEC Move Toward Settlement With 60-Day Pause in Legal Battle
Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have jointly requested a 60-day pause on their legal appeals, signaling progress toward a settlement. The motion follows an agreement-in-principle—pending SEC approval—that would resolve the long-running dispute over whether Ripple’s XRP token constitutes a security. The case, initiated in 2020, has been one of the most high-profile in crypto regulation history. The SEC has recently softened its stance on crypto under new leadership, dropping similar lawsuits and clarifying that some memecoins are not considered securities. Ripple’s CEO and legal team indicated both sides are de-escalating as they await court and Commission approval.
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Trump-Linked DeFi Project Denies Ether Selloff Amid Market Speculation
World Liberty Financial (WLFI), a decentralized finance project backed by Donald Trump’s family, has denied reports that it sold $8 million worth of ether (ETH) this week. The rumors stemmed from blockchain data indicating a wallet associated with WLFI made the sale after $125 million in unrealized losses. However, a WLFI spokesperson refuted the claims, calling them “wholly inaccurate” and asserting that no holdings had been sold. Ether has since rebounded from $1,465 to $1,553 following a brief market recovery. Earlier this year, Eric Trump publicly expressed bullish sentiment on ETH, calling it a “great time to buy” at $2,880.
Justin Sun Denies Rumors CZ Turned on Him, Calls Binance Founder a Mentor and Close Friend
Tron founder Justin Sun has dismissed rumors suggesting former Binance CEO Changpeng “CZ” Zhao provided evidence against him as part of Zhao’s plea deal with the U.S. Department of Justice. Sun, calling Zhao a mentor and close friend, said he was unaware of any such claims. The speculation follows a Wall Street Journal report alleging Zhao agreed to assist U.S. authorities in their case against Sun. Zhao, who was sentenced to four months in prison for AML violations in April 2024, has not publicly addressed the report but warned followers of a “baseless hit piece” in the works. Sun praised Zhao’s integrity and reaffirmed his trust in both CZ and the DoJ. Meanwhile, Sun remains in ongoing legal negotiations with the SEC, which sued him and his companies in 2023.
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SEC and Binance Request More Time as Legal Battle Nears Two-Year Mark
The U.S. Securities and Exchange Commission (SEC) and Binance have jointly requested a second 60-day pause in their ongoing legal dispute, citing productive discussions and the impact of the SEC’s newly formed crypto task force. The request, filed April 11, follows a previous extension granted in February and comes amid a broader regulatory shift that includes dropped cases against Coinbase, Kraken, Gemini, Robinhood, and Consensys. The SEC, now led by acting chair Mark Uyeda following Gary Gensler’s resignation in January, is continuing to assess how to proceed with its 2023 lawsuit against Binance. That lawsuit includes 13 charges related to unregistered securities offerings and other alleged violations tied to Binance’s token sales and services. Another joint update from both parties is expected after the new extension expires.
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