Marc Fagel, a seasoned legal expert who served for years at the U.S. Securities and Exchange Commission (SEC), made a significant statement regarding the high-profile Ripple lawsuit that has sparked debate in the crypto community. Fagel clarified that while the SEC officially repealed its “gag rule” (Rule 202.5(e))—a restriction in force since 1972 that barred settling companies from publicly criticizing the agency—this reform does not directly concern Ripple and its executives.
No shift in Ripple’s legal position
In the wake of the repeal, many in the crypto world speculated that Ripple’s leadership was now free to speak openly. In reality, Ripple’s situation fundamentally differs from most SEC cases: since the start, the company rejected settlement and took the matter to court. As a result, Ripple was never subject to a silence order.
As Marc Fagel emphasized, no court has ever ordered Ripple to remain silent, and the company has consistently made open and critical statements about the SEC throughout the legal process.
The SEC’s now-defunct rule only applied to parties entering settlements, preventing them from making statements that would portray the agency in a negative light under a “neither admit nor deny” formula. Ripple, however, pursued full litigation. CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty have repeatedly and publicly criticized the SEC’s stance on crypto during the proceedings.
The official announcement of the rule’s repeal came from SEC Chair Paul Atkins. Companies and entrepreneurs who previously reached settlements with the SEC are now no longer barred from expressing opposition in public. However, the decision does not alter Ripple’s legal status, nor does it impact regulatory uncertainties around XRP’s market standing, potential sanctions, or asset classification—these remain unresolved.
Binance to delist eight trading pairs by May 2026
Crypto exchange Binance revealed it will remove eight trading pairs from its platform effective May 22, 2026, as part of efforts to enhance order book quality and streamline low-volume markets. The delistings include cross pairs with leading coins like Bitcoin (BTC), Ethereum (ETH), Uniswap (UNI), and Avalanche (AVAX).
The pairs set to be delisted are: CHZ/BTC, IOTA/BTC, XLM/BTC, AVAX/ETH, UNI/ETH, UNI/FDUSD, XLM/FDUSD, and FET/BNB. Notably, cross pairs involving Uniswap, Stellar, and FDUSD or BTC have seen minimal liquidity. With this move, Binance aims to optimize resource use and effectively manage its order books.
Importantly, users’ token balances will not be affected by these removals. Trading in coins like UNI, AVAX, or XLM will continue smoothly in popular, high-volume pairs.
Fifth wave of npm malicious code threat targets web3
Web3 developers and the JavaScript community are grappling with yet another outbreak of the self-replicating “Shai-Hulud” malware, detected for the fifth time in just eight months. Security firm SlowMist identified the threat via its MistEye monitoring system and reported a rapid spread.
A key danger of this malware lies in its ability to exploit AI-powered coding assistants such as OpenAI Codex, Claude Code, or Visual Studio Code as covert entry points. Designed to evade standard security protocols, the newest variant secretly alters config files like .claude/settings.json and .vscode/tasks.json, ensuring that the malicious code reactivates whenever a developer initiates a new project.
Attackers compromised the npm account of a developer operating under the alias “atool” ([email protected]), releasing over 600 malicious packages. Once embedded, the virus targets AWS and Azure cloud credentials, API keys, seed phrases, and pipeline secrets, encrypting and transmitting these to servers under the attackers’ control. Data exfiltration is disguised as routine GitHub API operations, making detection challenging.
SlowMist advises immediate project scans, migration to secure package versions, resetting of access keys, and a thorough cleanup of AI tool configuration files for any affected projects.
Bitcoin steadies amid macro shifts and SEC anticipation
This week, the crypto markets have fluctuated as Kevin Warsh gears up to assume the U.S. Federal Reserve Chairmanship and inflation readings in the U.S. accelerate. Bitcoin’s price has stabilized within the $76,800 to $79,800 range, according to live CryptoAppsy data, as shifts in liquidity and delta dynamics draw attention.
A tightening in liquidity is seen as potentially bolstering Bitcoin’s “market dominance” over altcoins in the next 12 months. According to Delphi Digital’s LMOS index, leveraged activity is declining while investment flows are gravitating back toward Bitcoin.
Markets await the Federal Open Market Committee (FOMC) minutes due on May 20, which will clarify the Fed’s direction on interest rates. Recent data showed consumer inflation rising to 3.8%, with gains in oil prices and bond yields lifting the probability of a rate hike to 37.4%.
With Kevin Warsh known for openness to financial innovation and the current inflationary environment, the crypto sector is closely watching both his moves and the SEC’s anticipated “innovation exemption” announcement. This anticipated rule could pave the way for 24/7 blockchain-powered equity trading and tokenized share issuance.
