Although the crypto economy has dipped 1.5% in value over the past 24 hours, XRP, the sixth-largest digital asset by market capitalization, has posted gains recently. In the last week alone, XRP has surged over 10%, and year-to-date, this digital currency has increased by 35% against the U.S. dollar. XRP Defies Market Trends as Network…
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Gemini Trust Company and Genesis Global Capital filed a court document on May 26, 2023, seeking the dismissal of a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). The regulatory body had accused the two crypto firms of offering unregistered securities. Gemini and Genesis Refute SEC’s Claims of Unregistered Securities, File Motion to…
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Court documents filed on May 17, 2023, reveal that current executives overseeing FTX and its subsidiary, Alameda Research, have initiated a lawsuit against Sam Bankman-Fried, the former CEO of FTX, Nishad Singh, FTX’s former director of engineering, and Zixiao “Gary” Wang, co-founder of FTX. The legal action stems from the exchange’s ambitious FTX Stocks project,…
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Crypto mining firm Riot Platforms is seeking to terminate “certain hosting agreements” with Rhodium Enterprises and be relieved of refunding any outstanding power credits. Crypto mining firm Riot Platforms – formerly Riot Blockchain – has taken legal action against Texas-based Bitcoin (BTC) miner, Rhodium Enterprises, in an effort to recover “more than $26 million” in…
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A class action lawsuit against big-name celebrities who promoted bankrupt FTX including Shaquille O’Neal, Tom Brady and Naomi Osaka has garnered cooperation from a former executive, according to a recent court filing. Former FTX Chief Compliance Officer Daniel Friedberg provided evidence tying Florida to the celebrities, according to lawyers representing the plaintiffs. … Read More: Former…
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Federal securities laws only apply in the United States, but the protocols were developed overseas, argues Terraform Labs. Terraform Labs is seeking to have a class action lawsuit against the firm dismissed, arguing the United States securities laws referenced are not applicable to its foreign-developed protocols. On May 3, Terraform Labs requested a California federal…
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The proposed class action lawsuit alleges the exchange violated privacy laws in Illinois when it collected and stored users’ fingerprints and facial scans. Coinbase violated biometric privacy laws in Illinois through its collection and storage of customer fingerprints and facial templates, a proposed class-action lawsuit alleges. A May 1 filing in a California District Court…
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Palihapitiya did concede the crypto sector has “pushed more boundaries” than other startup sectors, which may have attracted the SEC’s attention. Regulators in the United States have choked out the cryptocurrency sector to the point of death, according to Bitcoin (BTC) bull and billionaire tech investor Chamath Palihapitiya. “Crypto is dead in America,” he boldly…
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A law firm representing FTX investors has served former NBA star Shaquille O’Neal in a class-action case against celebrities who endorsed the failed crypto exchange. The lawsuit accuses Shaq, along with other public figures and the platform’s founder, of defrauding people who put money into FTX. Shaquille Served Legal Notice in FTX Lawsuit Outside His…
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According to the recent complaint by the U.S. Securities and Exchange Commission (SEC) against Bittrex, the securities regulator insists that a few crypto asset tokens were offered and sold as investment contracts and are securities. The news follows the SEC’s designation of several crypto assets as securities, including the case against Terraform Labs, which insists…
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