The DeFi Education Fund says a patent owned by True Return Systems is being used to try to profit from lawsuits against decentralized protocols. A decentralized finance (DeFi) advocacy body has petitioned the United States Patent and Trademark Office (USPTO) to review a patent owned by a company it has accused of being a a…
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The bankrupt estate of cryptocurrency exchange FTX is suing blockchain company Layerzero Labs in an attempt to claw back a $45 million deal and over $40 million in withdrawals made in the days before FTX filed for bankruptcy. The lawsuit alleges that Layerzero exploited FTX’s financial distress to negotiate a fire-sale transaction just prior to…
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James Howells, a bitcoin enthusiast who misplaced 7,500 bitcoin (BTC) in a South Wales landfill, is gearing up to take legal action against the local city council for barring his efforts to unearth the missing hard drive from 2013. This former IT professional, now 38, has been at odds with Newport City Council for ten…
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Gala co-founder Eric Schiermeyer allegedly enriched himself, says his founding peer Wright Thurston, while Schiermeyer says Thurston stole millions. The co-founders of blockchain gaming platform Gala Games have locked horns in court over two separate lawsuits, one alleging the theft of $130 million worth of Gala (GALA) and the other alleging corporate waste. On Aug.…
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The Securities and Exchange Commission (SEC) has charged Los Angeles-based media company Impact Theory with offering and selling unregistered securities in the form of crypto asset tokens. Notably, this marks the SEC’s first lawsuit targeting an NFT offering. SEC Sues Impact Theory Over $30M in NFT Sales From October 2021 to December 2021, Impact Theory…
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Auction House Sotheby’s has responded to the new allegations leveled against it by Bored Ape investors describing it as opportunistic and simply without merit. The statement comes as the auction house was named in the class action suit against YugaLabs the creators of Bored Ape Yacht Club (BAYC)…. Read More: “Opportunistic and Baseless” – Yuga…
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Art broker Sotheby’s has been named in the Bored Ape investors case against NFT company Yuga Labs, which said the new allegations are without merit and “opportunistic.“ Fine arts auction house Sotheby’s has recently been named in the class-action lawsuit filed by Bored Ape Yacht Club (BAYC) investors against BAYC creators Yuga Labs. The investors…
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The exchange claims the SEC’s deposition and discovery requests are outside the scope of the regulators lawsuit it filed against Binance. Binance has asked a court for a protective order against the Securities and Exchange Commission (SEC) over what the crypto exchange claims is a “fishing expedition” from the regulator. In an Aug. 14 court…
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Digital Currency Group (DCG) has filed a motion to dismiss the lawsuit brought against them by Gemini Trust Company, LLC. The motion, filed in the Southern District of New York, argues that Gemini’s allegations of fraudulent misrepresentations related to the Gemini Earn program are without merit and inadequately substantiated. DCG’s legal team asserts that the…
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The SEC’s interlocutory appeal comes nearly a month after Judge Analisa Torres laid out her non-final ruling. The United States Securities and Exchange Commission is moving to appeal a July court decision from its lawsuit against Ripple Labs, which had ruled the sale of XRP (XRP) is not a security when sold to retail investors.…
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