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The SEC filed suit in 2022 alleging the blockchain-based file-sharing network had violated federal securities laws with the sale of its native LBRY credits (LBC), which the firm maintained were not securities. A New Hampshire judge ruled in favor of the SEC in November and the final ruling was filed
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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 group of FTX customers in a California District Court alleged the law firm set up several “shadowy entities” allowing
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"The transactions over Coinbase’s platform and Prime are not, and do not involve, contractual undertakings to deliver future value reflecting the income, profits, or assets of a business. They are commodity sales, with the obligations on both sides discharged entirely the moment the digital token is delivered in exchange for
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The United States Securities and Exchange Commission has obtained a temporary asset freeze against Utah-based crypto company Digital Licensing Inc, accusing the firm of perpetrating a $50 million fraudulent crypto scheme.On Aug. 3 the SEC announced it had obtained a temporary asset freeze, restraining order, and other emergency relief against
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Cryptocurrency exchange Gemini has filed a lawsuit in a New York court against DCG (Digital Currency Group) and Barry Silbert. Cameron Winklevoss, the co-founder of Gemini, alleged in a tweet published today, June 7, that Silbert
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The lawsuit is intended to recover Gemini's funds from DCG, a filing made to the New York County Supreme Court said. Gemini entered into a partnership with Genesis which allowed its customers to earn up to 7.4% in annual percentage yield. Gemini sent its customers' funds to Genesis, which in
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FTX has filed a lawsuit against a former regulatory and compliance executive at the exchange, alleging he made a series of payments in attempts to prevent staff from blowing the whistle about issues at the exchange. On June 27, FTX filed a lawsuit against Daniel Friedberg who held multiple roles including
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The lawsuit alleges fraud, breach of contract and fiduciary duty, as well as aiding and abetting against DX Corr and its executives as well as former Coinmint employees. Coinmint is asking for “actual, compensatory and consequential damages, including but not limited to the $23 million,” that it deposited for the
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Lawyers for the privacy protocol developer have disputed the evidence purporting to prove links to criminal money. Source
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“An investment contract exists when you invest money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others. Intermediaries for investment contracts, whether they're exchanges, brokers, dealers, clearinghouses, they need to comply with the securities laws and register with the Securities and
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