This Week in Crypto: Curve Loses $50 Million, XRP Use Soars, and SEC Sues PulseChain

Crypto news: We bring you a roundup of what's been happening in crypto this week. The US Securities and Exchange Commission (SEC) sued PulseChain founder Richard Heart in a lawsuit the industry had long expected was coming.

Timeline of Curve-dao-token, Xrp

In a recent tweet, Ripple stated that the number of financial leaders around the globe who are confident in crypto has risen to more than 70% this year. Ripple hinted that there are several major factors that are fuelling this growth of optimism.

Michael Egorov, the founder of Curve (CRV), sold another 34 million CRV ($19.72M, at press time) on the night of Thursday, August 3, as the token prices dropped 20% in the last seven days.

Ripple, the leading cryptocurrency firm, has ascended to the echelons of global fintech giants alongside the likes of PayPal and Revolut. The coveted position comes as CNBC, in partnership with research firm Statista, unveils its exclusive list of best-performing fintech companies across Asia, Africa, Europe, and North America.

Charles Hoskinson, the well-known creator of Cardano and a founding member of Ethereum, has finally put to rest any whispers of his alleged association with an anti-XRP conspiracy. The clarification came through a Twitter exchange, where a user's accusation prompted a response from Hoskinson himself.

In the latest development in the US SEC v. Binance Holdings lawsuit, the court has announced an order to deny a motion by third-party Eeon to intervene in the lawsuit and seek counterclaim relief.

Following Ripple's partial victory over the SEC, it was ruled XRP does not constitute a security concerning programmatic sales. What is a realistic price prediction following this decision, and what is it based on?

Curve Finance and other DeFi platforms are coordinating to retrieve stolen funds after a recent hack. Curve Finance, Metronome, and Alchemix have issued an open call to the hackers, proposing a possible bounty from the loot.

Decentralized Finance platforms Curve Finance, Alchemix, and Metronome have announced a joint initiative to recover the stolen funds in the wake of the recent exploits that hit Curve's pools. The exploit resulted in a loss of around $70 million worth of crypto assets, meaning the bounty offered is around $7 million.

Curve Finance (CRV) has issued a statement on Etherscan, addressing the hackers responsible for the recent exploit that resulted in the loss of over $60 million from the protocol. In the statement, Curve, Metronome & Alchemix have invited the hackers to discuss a potential bounty, offering a 10% reward for any stolen funds, which they can keep if they return the remaining 90%.

A popular cryptocurrency analyst has recently suggested that the native token of the XRP Ledger, $XRP, could soon se a dip below the $0.50 mark to nearly completely retrace the rise it saw after a federal judge determined the token isn't necessarily a security.