Football superstar Christiano Ronaldo’s motion to dismiss a $1 billion class action lawsuit was denied on May 4. The lawsuit concerns his promotion of non-fungible tokens (NFTs) on Binance. According to Newsweek, Judge Roy Altman issued the ruling, stating, “We deny without prejudice the Defendant’s 29 motion to dismiss.” Ronaldo Stuck With $1 Billion Lawsuit…
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A new class action lawsuit was initiated against the San Francisco-based cryptocurrency exchange Coinbase on May 3. The legal action claims that Coinbase deliberately sold securities that are unregistered with regulatory authorities. Additionally, the lawsuit charges Coinbase with operating as an unregistered securities broker. Lawsuit Alleges Coinbase Illegally Sold Securities Without Registration According to legal…
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The recent actions by the Department of Justice (DOJ) against non-custodial crypto wallet developers have sparked controversy and concern within the cryptocurrency community. According to Coin Center, these charges mark a significant shift from previous U.S. policies regarding money transmission, potentially impacting the liberty and privacy rights of developers and users alike. Coin Center: DOJ…
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Since the Department of Justice (DOJ) filed its legal opposition to the pretrial motions of Tornado Cash developers Roman Storm and Roman Semenov, there has been a buzz within the cryptocurrency community regarding specific aspects of the court filing. A key point raised by the prosecutors is their belief that the definition of “money transmitting”…
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Ethereum developer firm Consensys, managed by Joe Lubin, filed a lawsuit on April 25 against the U.S. Securities and Exchange Commission (SEC) over its “overzealous regulation” around the Ethereum blockchain. In an announcement on social media platform X, Lubin said Consensys has taken an important step towards “preserving access to ether and, by extension, the…
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In a significant legal move, Consensys has initiated a lawsuit against the U.S. Securities and Exchange Commission (SEC) to protect the Ethereum blockchain from what it deems overreaching regulations. A report further alleges that the SEC issued a Wells Notice to Consensys, asserting that Metamask functions as an “unlicensed broker-dealer.” Consensys Confronts SEC Following Receipt…
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A law firm specializing in crypto taxation recently filed a trade secrets lawsuit in an Illinois US District Court. It names a competitor and a former employee as defendants, alleging misappropriation of confidential materials through YouTube videos. These include templates, client forms, and other proprietary information. In the lawsuit, Gordon Law Group sued ex-employee Justin…
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New York Judge Katherine Polk Failla has ruled that the U.S. Securities and Exchange Commission (SEC) has “sufficiently pleaded” its case and the lawsuit will move forward. Legal Battle Ahead: Coinbase Dismissal Motion Rejected by Judge On Wednesday, the most recent legal filings revealed that Judge Katherine Polk Failla has declined Coinbase’s request to dismiss…
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The Wall Street Journal is facing a defamation lawsuit over an article that allegedly falsely accused a Thai-based aviation fuel broker and his company of involvement in illegal activities at stablecoin issuer Tether and crypto exchange Bitfinex. Christopher Harborne, the owner of AML Global Ltd., filed the lawsuit in a Delaware state court on February 28, claiming…
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The United States Securities and Exchange Commission (SEC) has flagged Terraform Labs $166 million in payments to Denton since 2023. In a new filing, the financial regulator opposed the retainer payment to the law firm arguing that Terraform Labs should not retain their services during the trial, Reuters reported. SEC goes after bankrupt Terraform Labs'…
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