On October 23, 2024, the Nigerian government dropped all charges against Binance executive Tigran Gambaryan, who had been detained for over seven months. The Economic and Financial Crimes Commission (EFCC) announced the withdrawal, citing Gambaryan's non-senior role at Binance as a key reason. However, reports indicated that his deteriorating health may have influenced the decision.
In another significant development on October 25, Ripple Labs filed a Form C in the US Court of Appeals, appealing a ruling by the SEC regarding XRP institutional sales. This appeal follows a $125 million fine imposed on Ripple in August, as they contest the application of the Howey test in their case.
Additionally, on October 24, FTX's bankruptcy estate reached a $228 million settlement with Bybit to recover funds for former customers. This settlement allows FTX to withdraw $175 million in digital assets held on Bybit, pending court approval on November 20.
Lastly, Denmark's Tax Law Council recommended a new bill on October 24 that would tax unrealized gains on crypto assets starting in 2026. This proposal aims to simplify the current taxation approach for Danish crypto investors, moving towards an 'inventory taxation' model.