Founder of failed crypto exchange FTX, Sam Bankman-Fried, will be held accountable for alleged campaign finance violations, U.S. prosecutors indicated on Tuesday. The charge was dropped earlier because the extradition treaty with the Bahamas prevents adding further charges without prior permission from the other side. Sam Bankman-Fried to Be Charged With Campaign Finance Violations Next…
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The suit claims “shadowy entities” set up by Fenwick & West were allegedly used by FTX and former top executives to misappropriate customer funds. FTX’s former primary counsel Fenwick & West LLP has been hit with a class-action suit claiming it aided the crypto exchange’s alleged multi-billion dollar fraud. An Aug. 7 filing by a…
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A class action lawsuit filed against cryptocurrency firms Tether and Bitfinex was dismissed Friday by a federal judge in New York. The judge ruled the complaint lacked plausible claims of injury and failed to show that Tether’s stablecoin USDT had diminished in value. Judge Dismisses Market Manipulation Case Against Bitfinex and Tether A high-profile class…
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In a motion for judgment filed on August 4, Coinbase hit back against the SEC’s lawsuit alleging it facilitated unregistered trading of securities, arguing the agency lacks authority to regulate digital assets in this way. Coinbase Fights Back Against SEC’s Crypto Exchange Lawsuit In a court filing submitted on Friday, Coinbase contends the SEC’s claims…
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Paul Grewal said Coinbase will seek to dismiss the SEC’s suit on Aug. 4 which will argue that it never sold securities as the regulator alleged. Coinbase plans to file an order seeking dismissal of the lawsuit by the Securities and Exchange Commission on Aug. 4, with the crypto exchange’s legal chief saying it expects…
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After the U.S. Securities and Exchange Commission filed a lawsuit against Richard Heart and his companies Hex, Pulsechain and Pulsex, the crypto asset hex (HEX) has been in a free fall. Two-week statistics show HEX has lost 41.7% against the U.S. dollar and 35.8% over the past seven days. Uniswap Delists HEX Following SEC Lawsuit;…
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The US Securities and Exchange Commission (SEC) has taken legal action against prominent internet marketer and crypto advocate Richard Heart. Heart, whose real name is Richard Schueler, is accused of raising more than $1 billion through unregistered securities offerings and defrauding investors. Heart is known for his projects Hex, PulseChain, and PulseX and has also…
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The U.S. Securities and Exchange Commission (SEC) filed a lawsuit Friday against Richard Schueler, known as Richard Heart, and his companies Hex, Pulsechain, and Pulsex, alleging they raised more than $1 billion through unregistered securities offerings. SEC Lawsuit Accuses Richard Heart of Running Unregistered Securities Offerings The SEC complaint alleges that beginning in December 2019,…
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Crypto exchange Binance and its founder and CEO Changpeng Zhao (CZ) plan to seek the dismissal of a lawsuit filed by the U.S. Commodity Futures Trading Commission (CFTC). On July 27, the trading platform is due to submit its response to the CFTC complaint alleging that it broke derivatives laws in the United States.
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Lawyers for the basketball star claim he did not mention any alleged securities but instead warned of celebrities promoting crypto investments. Professional basketball player and Miami Heat’s Jimmy Butler has asked to be dismissed from a class action lawsuit targeting celebrities involved in the alleged promotion of unregistered securities by Binance, saying tweets he appeared…
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