Close Menu
Crypto Junction
  • Crypto News
    • News
    • Bitcoin
    • Blockchain
    • BNB
    • Dogecoin
    • Ethereum
    • Litecoin
    • Meme Coins
    • Solana
    • Toncoin
    • XRP
  • Business
  • Markets
  • Regulation
  • Guides
  • Press Release
What's Hot

Ethereum Restaking: How EigenLayer is Changing the Future of DeFi

September 16, 2025

Ethereum Foundation Launches Roadmap For End-to-End Privacy

September 16, 2025

Onchain Collateral Could Unlock Better Loan Terms, Says Exec

September 16, 2025
Facebook X (Twitter) Instagram
  • Altcoin News
  • Bitcoin News
  • Dogecoin News
  • Ethereum News
  • Litecoin News
  • Meme Coin News
  • Solana News
  • XRP News
X (Twitter) Telegram
Crypto JunctionCrypto Junction
  • Crypto News
    • News
    • Bitcoin
    • Blockchain
    • BNB
    • Dogecoin
    • Ethereum
    • Litecoin
    • Meme Coins
    • Solana
    • Toncoin
    • XRP
  • Business
  • Markets
  • Regulation
  • Guides
  • Press Release
Crypto Junction
Home » Ripple Hit with New Lawsuit Over $1.1B XRP Sale—Legal Battle Continues
Crypto

Ripple Hit with New Lawsuit Over $1.1B XRP Sale—Legal Battle Continues

Karly MarieBy Karly MarieMay 6, 2020Updated:March 9, 2025No Comments2 Mins Read
Share Facebook Twitter Pinterest Reddit Telegram Email Bluesky Copy Link
Share
Twitter Facebook Telegram Bluesky Pinterest Email Reddit Copy Link

Mysterious Plaintiff Accuses Ripple of Securities Violations

Ripple Labs, the company behind the XRP cryptocurrency, is facing yet another lawsuit over its $1.1 billion token sale. A little-known firm, Bitcoin Manipulation Abatement (BMA), has filed a case in San Francisco, accusing Ripple and CEO Brad Garlinghouse of violating U.S. securities laws by conducting an unregistered sale of XRP.

BMA claims that Ripple falsely promoted XRP to investors, artificially inflating its value while failing to register the sale with regulators. The lawsuit further alleges that at the time of its first sale in 2013, XRP had no actual utility and was marketed purely as a speculative investment.

Who Is Bitcoin Manipulation Abatement (BMA)?

BMA is a Puerto Rico-based entity incorporated in 2019, and its only known representative is Pavel Pogodin. The firm previously made headlines when it sued FTX, accusing the now-defunct exchange of manipulating Bitcoin prices—a case that was ultimately dismissed.

In its complaint against Ripple, BMA claims Pogodin personally invested in XRP based on misleading statements by the company, leading to financial losses. Now, the firm seeks not only the return of Ripple’s earnings from the XRP sale but also compensatory damages.

See also  Ethereum’s Rise: The Cryptocurrency Set to Transform Industries

Ripple’s Legal History and Regulatory Scrutiny

This lawsuit is just one in a series of legal battles Ripple has faced. The company has been embroiled in a high-profile case with the U.S. Securities and Exchange Commission (SEC) since 2020, which argues that XRP is an unregistered security.

Ripple has consistently denied wrongdoing, arguing that XRP should not be classified as a security. In previous legal proceedings, the firm attempted to limit new lawsuits, citing a statute of limitations, though it has struggled to dismiss fresh claims.

What’s Next for Ripple and XRP?

While Ripple remains a dominant player in the crypto space, its ongoing legal troubles continue to cast uncertainty over XRP’s future. The latest lawsuit adds another layer of complexity to Ripple’s fight for regulatory clarity.

If courts rule against Ripple, it could set a precedent for further regulatory action against similar crypto projects. On the other hand, a legal victory could strengthen Ripple’s position and provide much-needed stability for XRP investors.

See also  ZachXBT Social Engineering Scam Exposes $91M Bitcoin Heist

With regulatory scrutiny on the rise, the outcome of this case could have significant implications for the broader crypto market. Will Ripple overcome this latest legal hurdle, or is further turbulence ahead?

Bitcoin Blockchain crypto litigation Crypto Regulation Ripple SEC securities lawsuit token sale XRP
Share. Twitter Facebook Telegram Email Bluesky Reddit Copy Link
Previous ArticleEthereum Network Growth Soars in 2020, Signaling Long-Term Optimism
Next Article Monero (XMR) Hits Two-Year High as Privacy Coins Gain Momentum
Karly Marie
Karly Marie

Related Posts

Crypto

Ethereum Restaking: How EigenLayer is Changing the Future of DeFi

September 16, 2025
News

Ethereum Foundation Launches Roadmap For End-to-End Privacy

September 16, 2025
Blockchain

Onchain Collateral Could Unlock Better Loan Terms, Says Exec

September 16, 2025
Add A Comment

Comments are closed.

– Advertisement –
Trending Posts
Bitcoin

SEC’s Crypto Mining Interpretation Sparks Controversy Over Securities Classification

March 21, 2025
News

Changpeng Zhao Officially Requests Presidential Pardon

May 9, 2025
Dogecoin

Dogecoin Price Surges as Bitcoin Nears $104K

May 18, 2025

Subscribe to Updates

Get the latest sports news from SportsSite about soccer, football and tennis.

Crypto Junction, founded in 2014, is one of the original and most trusted sources for cryptocurrency news and blockchain insights. We provide accurate, unbiased, and timely coverage of digital assets, market trends, and industry developments.

All content on Crypto Junction is for informational and educational purposes only and should not be considered financial, investment, or legal advice. Cryptocurrency investments are highly volatile and carry risks. Always conduct your own research before making financial decisions.

We're social. Connect with us:

X (Twitter) Telegram
Top Insights

Ethereum Restaking: How EigenLayer is Changing the Future of DeFi

September 16, 2025

Ethereum Foundation Launches Roadmap For End-to-End Privacy

September 16, 2025

Onchain Collateral Could Unlock Better Loan Terms, Says Exec

September 16, 2025
ABOUT
  • About Us
  • Cookie Policy
  • Editorial Policy
  • Investment Disclaimer
  • Press and Media Kit
  • Terms of Service
  • Affiliate Disclosure
  • Contact Us
  • Crypto Marketing
  • Daily Digest News
Telegram X (Twitter)
  • Altcoin News
  • Bitcoin News
  • Dogecoin News
  • Ethereum News
  • Litecoin News
  • Meme Coin News
  • Solana News
  • XRP News
© 2025 Crypto Junction

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 116,883.32
ethereum
Ethereum (ETH) $ 4,541.60
xrp
XRP (XRP) $ 3.03
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 985.81
solana
Solana (SOL) $ 243.73
usd-coin
USDC (USDC) $ 0.999971
dogecoin
Dogecoin (DOGE) $ 0.275065
staked-ether
Lido Staked Ether (STETH) $ 4,537.91
cardano
Cardano (ADA) $ 0.912033
tron
TRON (TRX) $ 0.347132
wrapped-steth
Wrapped stETH (WSTETH) $ 5,512.32
chainlink
Chainlink (LINK) $ 24.30
wrapped-beacon-eth
Wrapped Beacon ETH (WBETH) $ 4,901.15
hyperliquid
Hyperliquid (HYPE) $ 57.12
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 116,816.30
avalanche-2
Avalanche (AVAX) $ 34.55
ethena-usde
Ethena USDe (USDE) $ 1.00
sui
Sui (SUI) $ 3.82
figure-heloc
Figure Heloc (FIGR_HELOC) $ 1.04
stellar
Stellar (XLM) $ 0.391333
bitcoin-cash
Bitcoin Cash (BCH) $ 611.88
wrapped-eeth
Wrapped eETH (WEETH) $ 4,881.11
weth
WETH (WETH) $ 4,544.70
hedera-hashgraph
Hedera (HBAR) $ 0.243493
litecoin
Litecoin (LTC) $ 116.67
leo-token
LEO Token (LEO) $ 9.55
crypto-com-chain
Cronos (CRO) $ 0.233358
the-open-network
Toncoin (TON) $ 3.16
usds
USDS (USDS) $ 0.999762
shiba-inu
Shiba Inu (SHIB) $ 0.000013
polkadot
Polkadot (DOT) $ 4.59
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 116,915.32
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
whitebit
WhiteBIT Coin (WBT) $ 43.83
ethena-staked-usde
Ethena Staked USDe (SUSDE) $ 1.20
world-liberty-financial
World Liberty Financial (WLFI) $ 0.214575
uniswap
Uniswap (UNI) $ 9.37
mantle
Mantle (MNT) $ 1.73
monero
Monero (XMR) $ 297.05
bitget-token
Bitget Token (BGB) $ 5.26
ethena
Ethena (ENA) $ 0.680016
pepe
Pepe (PEPE) $ 0.000011
aave
Aave (AAVE) $ 304.22
dai
Dai (DAI) $ 1.00
memecore
MemeCore (M) $ 2.54
okb
OKB (OKB) $ 194.34
near
NEAR Protocol (NEAR) $ 3.16
jito-staked-sol
Jito Staked SOL (JITOSOL) $ 300.08
bittensor
Bittensor (TAO) $ 353.23
ondo-finance
Ondo (ONDO) $ 1.06
aptos
Aptos (APT) $ 4.65
story-2
Story (IP) $ 10.23
worldcoin-wld
Worldcoin (WLD) $ 1.56
ethereum-classic
Ethereum Classic (ETC) $ 20.69
binance-staked-sol
Binance Staked SOL (BNSOL) $ 261.93
pi-network
Pi Network (PI) $ 0.358362
usdt0
USDT0 (USDT0) $ 1.00
binance-peg-weth
Binance-Peg WETH (WETH) $ 4,552.47
arbitrum
Arbitrum (ARB) $ 0.515549
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.25588
usd1-wlfi
USD1 (USD1) $ 1.00
pump-fun
Pump.fun (PUMP) $ 0.007375
internet-computer
Internet Computer (ICP) $ 4.85
myx-finance
MYX Finance (MYX) $ 13.53
pudgy-penguins
Pudgy Penguins (PENGU) $ 0.037429
kinetic-staked-hype
Kinetiq Staked HYPE (KHYPE) $ 57.42
kaspa
Kaspa (KAS) $ 0.086193
jupiter-perpetuals-liquidity-provider-token
Jupiter Perpetuals Liquidity Provider Token (JLP) $ 5.89
susds
sUSDS (SUSDS) $ 1.07
vechain
VeChain (VET) $ 0.025409
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
cosmos
Cosmos Hub (ATOM) $ 4.61
algorand
Algorand (ALGO) $ 0.240584
sei-network
Sei (SEI) $ 0.337727
kelp-dao-restaked-eth
Kelp DAO Restaked ETH (RSETH) $ 4,786.58
render-token
Render (RENDER) $ 3.98
rocket-pool-eth
Rocket Pool ETH (RETH) $ 5,179.66
gatechain-token
Gate (GT) $ 17.07
kucoin-shares
KuCoin (KCS) $ 15.73
hash-2
Provenance Blockchain (HASH) $ 0.039781
fasttoken
Fasttoken (FTN) $ 4.49
falcon-finance
Falcon USD (USDF) $ 1.00
bonk
Bonk (BONK) $ 0.000025
usdtb
USDtb (USDTB) $ 1.00
sky
Sky (SKY) $ 0.075266
filecoin
Filecoin (FIL) $ 2.54
flare-networks
Flare (FLR) $ 0.023556
fetch-ai
Artificial Superintelligence Alliance (FET) $ 0.665207
immutable-x
Immutable (IMX) $ 0.884563
stakewise-v3-oseth
StakeWise Staked ETH (OSETH) $ 4,786.15
official-trump
Official Trump (TRUMP) $ 8.51
bfusd
BFUSD (BFUSD) $ 1.00
jupiter-exchange-solana
Jupiter (JUP) $ 0.542724
liquid-staked-ethereum
Liquid Staked ETH (LSETH) $ 4,902.37
lombard-staked-btc
Lombard Staked BTC (LBTC) $ 117,024.35
optimism
Optimism (OP) $ 0.823829
renzo-restaked-eth
Renzo Restaked ETH (EZETH) $ 4,811.09
quant-network
Quant (QNT) $ 98.60
polygon-bridged-usdt-polygon
Polygon Bridged USDT (Polygon) (USDT) $ 1.00