GM Brew Crew, the seasons may change, but remember… we always stay the same. Dialed and ready to bring you some value on this fine Saturday.

Let’s dive in ⬇️

On the menu today:

• 👀 SEC FIGHTS BACK AGAINST RIPPLE RULING

• 📉 NFT STARTUP SHUTS DOWN AMID MARKET STRUGGLES

• 🧐 U.S. REPRESENTATIVE TRIES TO LIMIT SEC’S CRYPTO OVERSIGHT

Today’s Charts:

👀 SEC FIGHTS BACK AGAINST RIPPLE RULING

The SEC has submitted a filing urging the court to approve its motion for an appeal in the Ripple Labs lawsuit, which determined that XRP is not a security when sold to retail investors.

The SEC cites "knotty legal problems" surrounding the application of the law, specifically referencing the Howey test, as the basis for their appeal request.

Howey test ➡️ legal assessment that determines if an investment is a security, based on investing money in a shared project with the expectation of profit from others' efforts.

The SEC argues that the legal questions arising from rulings on programmatic sales and other distribution methods are significant and warrant an interlocutory appeal.

Gary Gensler and the fellas note that this case has industry-wide significance and special consequences, making it suitable for this appeal.

📉 NFT STARTUP SHUTS DOWN AMID MARKET STRUGGLES