5 / 19 Relevant items tagged with #LEGAL
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Former Bank CEO Sentenced to Prison for $47M Crypto Fraud Leading to Bank Collapse
[Aug 21, 2024 1:30 AM] The former CEO of failed Heartland Tri-State Bank was sentenced to over 24 years in prison for embezzling more than $47 million in a fraudulent crypto scheme that caused the bank’s collapse. He funneled the stolen funds into cryptocurrency…
Mango Markets’ Future Hangs in the Balance With New SEC Settlement Vote
[Aug 20, 2024 4:30 PM] Mango Markets, the Solana-based decentralized finance (defi) platform that lost more than $110 million in 2022, is currently holding a vote on a proposed settlement with the U.S. Securities and Exchange Commission (SEC) over alleged securities…
Bitcoin Miner Greenidge Files Legal Complaint Against New York Regulator, Reports Q2 Earnings
[Aug 19, 2024 8:30 PM] Greenidge Generation Holdings Inc. has initiated legal action against the New York State Department of Environmental Conservation, challenging the denial of its air permit renewal. The company also reported its second-quarter financial results…
Better Markets CEO Says SEC Has 90% Chance of Winning in Ripple Appeal — Criticizes Judge’s XRP Ruling
[Aug 18, 2024 11:35 PM] Dennis Kelleher, CEO of Better Markets, says the U.S. Securities and Exchange Commission (SEC) has a 90% chance of winning an appeal in the Ripple lawsuit over XRP. He criticized the court ruling as flawed, arguing that the judge in the Ripple case…
Ripple Legal Chief Anticipates Possible SEC Appeal in XRP Case Despite Court’s 10% Reversal Rate
Binance Pays $1.75 Million to Settle Irregular Derivatives Offering Procedure in Brazil
[Aug 16, 2024 9:30 PM] Binance, one of the largest cryptocurrency exchanges in the world, has settled an administrative procedure with the CVM, the securities regulator of Brazil. The exchange proposed to pay 9.6 million Brazilian reais (approximately $1.75 million) to…
Kim Dotcom’s Extradition to US Approved by New Zealand Justice Minister
[Aug 15, 2024 3:30 PM] Kim Dotcom, the founder of Megaupload, may soon be extradited to the U.S. from New Zealand following a decision by Justice Minister Paul Goldsmith. Dotcom, who has long resisted extradition since an FBI raid in 2012, said he has a plan and…
7 Indicted in $300,000 Queens Bitcoin Theft, Say Prosecutors
[Aug 14, 2024 11:20 AM] Seven individuals have been indicted for stealing over $300,000 in bitcoin from a Queens resident. The charges against them include grand larceny, money laundering, and identity theft, stemming from a lengthy investigation into a cryptocurrency…
Tether Slams Celsius Network’s ‘Baseless’ $2 Billion Lawsuit
SEC Addresses Final Court Ruling in Ripple Case, Highlights Key Outcomes
[Aug 11, 2024 1:30 AM] The U.S. Securities and Exchange Commission (SEC) has addressed District Judge Analisa Torres’ ruling in the Ripple case over XRP, emphasizing the substantial financial penalties imposed on the crypto firm and its ongoing securities law…
Avraham Eisenberg Seeks Acquittal of Mango Markets Conviction
US Court Orders FTX and Alameda to Pay Fraud Victims $12.7 Billion in Historic CFTC Recovery
[Aug 8, 2024 6:05 PM] A U.S. district court has ordered FTX and Alameda Research to pay $12.7 billion to fraud victims due to their misuse of customer funds and fraudulent practices. Ian McGinley, Director of the Commodity Futures Trading Commission’s Division of…
Ripple Hails Victory as Judge Cuts SEC’s Penalty Request by 94% in Final Judgment of XRP Case
[Aug 7, 2024 10:05 PM] District Judge Analisa Torres has cut the penalty requested by the U.S. Securities and Exchange Commission (SEC) in the case against Ripple Labs over XRP by 94%. The court partially granted the SEC’s motion for remedies against Ripple…
SEC Asks NY Court to Deny Coinbase’s ‘Breathtakingly Broad’ Subpoena Request
[Aug 6, 2024 1:21 AM] Lawyers for the U.S. Securities and Exchange Commission (SEC) are pushing back against what they describe as Coinbase’s “breathtakingly broad” subpoena requests searching for “essentially all documents that in any way relate to crypto.”
Indian Court Reaffirms Legality of Cryptocurrency, Grants Bail to Yes World CEO
[Aug 3, 2024 3:16 PM] The Orissa High Court in India has reaffirmed that cryptocurrency trading and transactions are neither banned nor deemed illegal in India. Citing the legality of crypto, the court granted bail to Sandeep Chowdhury, CEO of Yes World, who was accused…
The BITCOIN Act of 2024
[Aug 2, 2024 4:46 PM] Following the announcement on July 27th at the Bitcoin conference in Nashville, the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide” or BITCOIN Act of 2024, introduced by Senator Cynthia Lummis of…
Coinbase Narrows Demand for SEC Chair Gensler's Crypto Messages
[Jul 23, 2024 2:57 PM] Coinbase Inc. (COIN) is going after internal chatter at the U.S. Securities and Exchange Commission (SEC) that may shed light on its pursuit of cryptocurrency exchanges as illegal enterprises – including Chair Gary Gensler's own communications –…
Nigerian Prison Doctor Faces Arrest Over Jailed Binance Exec’s Health Report
[Jul 17, 2024 11:36 PM] On July 16, a Nigerian court issued an arrest warrant for a prison doctor who failed to provide jailed Binance executive Tigran Gambaryan’s medical report as demanded. The court also ordered prison officials to take Gambaryan to a local hospital…
Plaintiffs File New, Slimmed Down Complaint in Class Action Lawsuit Against Tether
[Jul 15, 2024 2:12 PM] Plaintiffs in an ongoing class action lawsuit against Tether and Bitfinex have filed a new, slimmed-down complaint accusing the crypto companies of manipulating the crypto markets and violating antitrust laws.
Philippines Charges 2 Russians in $6.2 Million XRP Theft
[Jul 14, 2024 7:32 PM] The Philippine Department of Justice (DOJ) has charged two Russian nationals with stealing PHP340 million ($6.2 million) worth of XRP cryptocurrency from a local crypto exchange. The suspects allegedly hacked Coins.ph’s system to commit the…
Marathon Digital Bitcoin Mine Manager Acquitted of Noise Violations In Texas
[Jul 13, 2024 1:30 AM] David Fischer, who serves as a plant manager for a Bitcoin mine owned by Marathon Digital, a public Bitcoin mining company, has been acquitted of having responsibility for several noise complaints brought by citizens living nearby. The operation…
More Samourai Devices Seized: Bitcoin Privacy Activist Appears In Court Ahead of Bail Release
[Jul 10, 2024 2:28 PM] Today marked the first public court hearing in the US Department of Justice’s (DoJ) case against Samourai Wallet developers William Lonergan Hill and Keonne Rodriguez since May 28, 2024, when Rodriguez appeared in court for the first hearing on the…
Singapore Court Orders Multichain to Pay Fantom Foundation $2.19 Million
[Jul 9, 2024 6:31 PM] The High Court of Singapore has awarded Fantom Foundation Ltd. damages totaling $2.19 million in a case against Multichain Foundation Ltd. and Multichain Pte Ltd. This ruling followed a default judgment due to Multichain’s failure to deliver…
Paxful Co-Founder Pleads Guilty to AML Conspiracy — Faces up to 5 Years in US Prison
[Jul 9, 2024 6:16 AM] A Paxful co-founder has pleaded guilty to conspiracy charges for failing to maintain an effective anti-money laundering (AML) program on the peer-to-peer cryptocurrency platform. This led to various criminal activities being conducted on the…
The Federal Reserve, Custodia Bank, and the Battle over Sovereignty
[Jul 5, 2024 1:00 PM] IntroductionAs it moves into the active appeal stage at the Tenth Circuit, the ongoing legal battle between Custodia Bank and the Federal Reserve has garnered significant attention, especially given the involvement of various amicus briefs. A total…
Binance US Confident in Legal Battle Against SEC as Case Moves Forward
How Financial Surveillance Threatens Our Democracies: Part 2
[Jul 2, 2024 10:58 AM] Undemonstrated Effectiveness and EfficiencyI'm not aware of any study establishing the effectiveness of KYC measures in combating money laundering. And it's not for lack of searching.Conversely, there are numerous studies tending to conclude the…
Digital Shovel Sues RK Mission Critical for Patent Infringement on Bitcoin Mining Containers
[Jul 2, 2024 7:00 AM] Digital Shovel Holdings Inc. has filed a lawsuit against RK Mission Critical LLC, RK Mechanical LLC, and RK Industries LLC in the US District Court for the District of Colorado, accusing them of patent infringement, according to a press release…