Cryptocurrency Analysis and News Portal
LBRY announced that all of its executives, staff members, and board directors had resigned. According to LBRY’s statement, the company will now focus on addressing any remaining legal obligations before completely ceasing operations. Cryptocurrency firm LBRY has announced that it will cease operations and shut down following a legal battle with
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In the fraud trial of Sam Bankman-Fried, prosecutors have requested the judge to inform the jury that the defendant's assertion that he is an effective altruist should not serve as a legitimate defense. Bankman-Fried faces allegations of misappropriating billions of dollars from FTX customers for personal purposes, such as political
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As bad as she was, the Googler was worse. Gaddis, who responds to legal requests the search engine giant receives, spent his ever-so-brief testimony saying there existed metadata that (I guess) demonstrated some Google doc whose contents weren’t actually discussed had been received, or worked on, or something, by Bankman-Fried.
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Jump’s involvement may matter due to an incident a year earlier, in which UST temporarily lost its peg to the dollar. While Kwon told investors the coin maintained its $1 value because of its automated algorithm, SEC experts say that it was, rather, due to Jump intervening in the market
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New York district judge orders crypto lender Genesis to produce documents related to the collapse of algorithmic stablecoin TerraUSD. Genesis, a renowned crypto lending firm, has been commanded by a New York district judge to adhere to a subpoena. This decision was taken after the firm allegedly did not provide certain
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Former FTX Head of Engineering Nishad Singh said he "learned of a hole" in FTX's finances in September 2022, two months before the exchange filed for bankruptcy. Though he noticed around $8 billion missing from Sam Bankman-Fried's company, he nevertheless "green lit" transactions, which he "implicitly" knew had to have
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Non-fungible tokens (NFTs) witnessed a 15% surge in trading volumes thanks to the U.S. Securities and Exchange Commission’s (SEC) failure to file an appeal in the Grayscale Bitcoin Trust case. According to on-chain data aggregator CryptoSlam.io, the NFT ecosystem encountered a substantial 15% uptick in the past 24 hours. Total trading volume
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In August, the D.C. Circuit Court of Appeals ruled that the SEC’s denial of Grayscale Investment’s application to convert the Grayscale Bitcoin Trust (GBTC) into an ETF was invalid and must be reviewed, calling it an "arbitrary and capricious" rejection. The court said that federal agencies are required to “treat
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Now, three new amicus briefs, which allow parties who are interested but not directly affected by the case to aid the court’s reasoning, argue crypto is neither significant nor special, and that the SEC can take on digital assets under existing law. Source
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Digital assets should not be seen as “somehow special,” nor should action against Coinbase be seen as “novel or extraordinary,” argues an association of North American securities regulators.In an Oct. 10 filing in the United States District Court for the Southern District of New York supporting the U.S. Securities and
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