Kraken, a prominent cryptocurrency exchange, has filed to dismiss the Securities and Exchange Commission lawsuit saying that allowing this case to continue would set a “dangerous precedent.” In the filing, Kraken has requested that the court dismiss the SEC’s case filed in November. The SEC alleged in November that the exchange’s parent companies were operating…
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Investors in the bankrupt cryptocurrency exchange Voyager Digital are suing the National Basketball Association (NBA), and New Jersey’s oldest law firm, McCarter & English. This emerging legal battle illustrates how even some of the largest and most reputable brands and companies can quickly become ensnared in controversy in an industry marred by a tangled web…
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Digital Currency Group has over $320 million left to repay, according to Genesis, and the deal would see that remaining sum repaid by April 2024. Bankrupt crypto lender Genesis and its parent company, Digital Currency Group (DCG), have struck a deal that could end an ongoing lawsuit to claw back $620 million in repayments from…
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BNB hit its highest price since June after Bloomberg reported the Justice Department wanted $4 billion from Binance to end its probe into the exchange. BNB (BNB) has gained over 7% in the last day after Bloomberg reported that the United States Department of Justice is contemplating a $4 billion settlement with Binance to resolve…
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The Estonia-based firm noted that only one plaintiff in the class action lawsuit is actually based in Colorado, where the suit was filed. The company behind Atomic Wallet has asked a United States court to dismiss a class action suit seeking damages from a $100-million hack, arguing the claims should’ve been filed in Estonia, where…
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Bloomberg ETF analyst James Seyffart thinks Grayscale’s Ether futures ETF application is just a ploy to corner the SEC to approve its spot Ether ETF. Grayscale Investments is using its Ether (ETH) futures exchange-traded fund (ETF) application as a “trojan horse” to corner the United States Securities and Exchange Commission into approving its spot Ether…
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Source: Adobe United States federal prosecutors have halted the bail of SafeMoon’s CEO Braden John Karony after they challenged the previous order citing a danger to the community and a potential flight risk. Court filings show New York District Judge LaShann DeArcy Hall has paused Karony’s bail previously ordered by a Utah Magistrates the previous…
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OpenAI joins Google, Microsoft and others in legally backing their users if they face legal action over copyright infringement. OpenAI says it will cover the legal costs for business-tier ChatGPT users that find themselves in hot water over copyright infringement. OpenAI is calling its pledge Copyright Shield which only covers users of its business-tier ChatGPT…
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Last week, lawyers representing Terraform Labs and its ex-CEO Do Hyeong Kwon (Do Kwon) moved to dismiss the lawsuit brought against them by the U.S. Securities and Exchange Commission (SEC). In response, the SEC has countered with a motion of its own, asserting the accountability of both the company and Kwon. The commission maintains that…
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Binance has submitted a new motion to dismiss the lawsuit filed by the U.S. Commodity Futures Trading Commission (CFTC) against it. The leading cryptocurrency exchange urges the court to reject the agency’s attempt to expand its territorial reach beyond the United States. Binance Accuses CFTC of Using U.S. Lawsuit as a ‘Trojan Horse’ to Gain…
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