Week in crypto: CZ’s sentencing, Shiba Inu’s impressive growth, & Ripple vs. SEC’s new turn

The crypto market ended the week with various notable headlines, with Binance, Shiba Inu (SHIB), and Ripple (XRP) dominating trends over the last seven days.

Binance founder faces a 36-month jail term

New legal updates reveal former Binance CEO and founder Changpeng Zhao awaits sentencing for violating the United States’ money-laundering regulations.

US prosecutors asked for a 36-month jail time for CZ last week, with the judgment scheduled for April 30 in Seattle.

Zhao quit his role as Binance’s chief in November 2023 amid intensified regulatory scrutiny. Meanwhile, the updates of his final sentencing attracted the attention of crypto players.

Before the sentencing, CZ apologized to investors for hunting them with his past “poor” decisions while taking responsibility for the mistakes.

The crypto community believes Zhao’s apology underscores his dedication to responsibility and transparency within the digital assets industry.

Shiba Inu attracts attention with significant developments

The meme coin showcased impressive performance in the last seven days, even topping charts on Robinhood within a week after launch.

Shiba Inu published the new edition of ‘The Shib’ magazine, which revealed various eye-catching developments.

The copy triggered optimism as it confirmed Shiba Inu’s plan to dominated the meme coin sector with top technology and real-world utility.

The project acquired over $12M in fundraising to develop its Layer3 blockchain, catalyzing excitement among SHIB enthusiasts.

#SHIB Shiba Inu raises $12 million for TREAT token, funding privacy-focused Layer 3 blockchain development.
Shytoshi Kusama announces the deal during Token2049, sparking crypto community excitement.
TREAT token serves as utility/governance for Layer 3 blockchain on Shibarium, and… pic.twitter.com/Y8xB1awt3X

— Canadian Jennifer 🇨🇦 (@cdntradegrljenn) April 23, 2024

SEC vs. Ripple updates

The ongoing legal fight between the remittance firm and the United States SEC took an exciting direction.

Judge Sarah Netburn scheduled an order on Ripple’s request to terminate the SEC’s newest expert submission.

The latest ruling by the crypto-pro magistrate triggered optimism among investors, with massive transactions from large-scale XRP investors.

The XRP community rejoiced after Netburn won the nominations as the new District Judge in New York’s Southern District, expecting a favorable stance from the pro-crypto magistrate.

BOOOOOOOOOOOOOOOOOOM!!!!

Pro #XRP Magistrate Sarah Netburn has been nominated to serve as the District Judge for the South District of New York.

FINAL JUDGMENT –> GAME OVER SEC! pic.twitter.com/JKBIL9P0iF

— JackTheRippler ©️ (@RippleXrpie) April 25, 2024

The judge gave the SEC up to April 20 to reply to Ripple’s latest motion.

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