Category Archive: Cryptocurrency, No picture
Sam Bankman-Fried’s Original 8 Charges Remain; Will the Bahamas Follow?
Sam Bankman-Fried, the infamous cryptocurrency entrepreneur and former CEO of FTX, will stand trial on the original eight criminal charges, according to U.S. prosecutors. The move opens up the possibility for the Bahamas to bring forth any charges to the industry’s favorite former CEO. The trial is set to start on February 6, 2024, in […]
Bittrex Granted Permission to Honor Withdrawal Post-Bankruptcy
United States District Court for the District of Delaware has authorized customers of Bittrex, a now-defunct cryptocurrency exchange, to withdraw cryptocurrency assets and fiat currency starting on June 15. Bittrex filed for Chapter 11 bankruptcy on May 8 following a lawsuit with the SEC, which claimed that the bankrupt platform was operating as an unregistered securities exchange […]
SEC Emails Reveal: Hinman Wasn’t Only Official Deliberating ETH Security
Key Takeaways After giving the green light to use Bill Hinman’s speech in court, Ripple revealed SEC emails surrounding Hinman’s speech. The deliberation about ETH being a security suggest that other SEC officials were used as guidance. Recently released email exchanges from 2018 reveal that multiple U.S. Securities and Exchange Commission (SEC) officials were in […]
SEC Chair Gensler to Be Dethroned in New House Bill
Key Takeaways Representatives Tom Emmer and Warren Davidson proposed a bill that would fire Chair Gensler and add more commissioners. This bill will also change how the SEC functions and who holds the most power, following the set up of the Federal Election Commission. In order to “restore sanity” in the U.S Securities and Exchange Commission […]
Mt. Gox Suspects Charged: Russian Nationals Indicted by DOJ
Key Takeaways The U.S. DOJ has charged two Russian nationals for their connection to the Mt. Gox hack of 2011. Both suspects will be charged with conspiracy to commit money laundering in the Southern District of New York. One suspect is charged with money laundering conspiracy and operating an unlicensed money services business in the […]
USDC Introduced on Ethereum’s Layer 2 Scaling Solution Arbitrum
Circle brought its native USDC on Arbitrum, Ethereum’s leading layer 2 scaling solution, making Arbitrum the ninth blockchain to extend support for USDC, according to Circle’s official announcement. The newly enabled function allows businesses utilizing Circle to conveniently swap USDC across supported chains, avoiding the costs and time lags typically linked with bridging transactions: 3/ […]
SEC Accuses Binance.US, CZ of Billion-Dollar Investor Fund Risk
The U.S. Securities and Exchange Commission (SEC) has extended its legal proceedings against Binance.US after its initial suit against the exchange, claiming that the industry’s largest exchange put investors’ funds at significant risk, in a new document filed on June 5. Binance CEO Changpeng “CZ” Zhao, BAM Management, BAM Trading and Binance have been accused […]
Coinbase Sued by SEC; Another Violation of Securities Laws
Key Takeaways The U.S. SEC sues Coinbase for a variety of violations, such as failing to register as a national securities exchange, broker and clearing agency, among others. Gensler stated that Coinbase also failed to provide proper investor protection and proper registration its staking-as-a-service program. The United States Securities and Exchange Commission (SEC) has sued […]
Binance, CZ Sued by SEC; A ‘Calculated Evasion of the Law’
Key Takeaways The SEC has sued Binance and CZ for 13 charges of buying, selling and trading unregistered securities, commingling customers’ funds and more. This lawsuit follows in the footsteps of the CFTC suing Binance back in March, citing a violation of federal securities laws. The United States Securities and Exchange Commission (SEC) has filed […]
DOGE Questioned as a Security in Musk’s Class-Action Lawsuit
Key Takeaways DOGE investors issued a third amended complaint in their class-action lawsuit against Elon Musk. The complaint includes market manipulation because of tweets, insider trading and calling DOGE a security. Elon Musk, CEO of Tesla and owner of Twitter, was issued a third amended complaint in his class-action lawsuit, which introduces new allegations centered […]
