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A recent court judgment further weakens a key defense made by technology firm Ripple Labs in its ongoing legal battle with the United States Securities and Exchange Commission (SEC), the regulator has claimed to a federal judge.In an April 11 letter to U.S. District Judge Analisa Torres, who is overseeing
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According to bankruptcy cryptocurrency exchange FTX, a court in Switzerland has approved a petition allowing the firm to potentially sell its European business.In an April 12 announcement, FTX said a Swiss court granted a petition filed by the board of directors for FTX Europe AG regarding a moratorium proceeding. As
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Deltec, a Cayman Islands company whose banking arm serves stablecoin company Tether, “shall and is hereby authorized and directed to pay to Alameda an amount equal to USD 52,859,644,” plus $10,538 in interest per day, bankruptcy Judge John Dorsey said in an order. Original Source
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FTX Europe AG, the holding company of FTX's European business, filed a petition for a Swiss moratorium proceeding, which the court granted on Tuesday, according to the announcement. A moratorium proceeding, under Swiss law, enables debt restructuring or the preservation of assets for a limited time. Original Source
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The debtors behind bankrupt cryptocurrency mining firm Core Scientific filed a motion for the approval of hiring a permanent president.In an April 10 filing with United States Bankruptcy Court for the Southern District of Texas, Core Scientific said it was addressing “a gap in the Debtors’ management team” prior to
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FTX was run by three inexperienced people “not long out of college,” who relied on “a hodgepodge” of online shared documents and communications across a series of different apps to manage the multi-billion dollar empire according to FTX CEO John Ray III.In an April 9 court filing in a Delaware
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The United States Treasury faces a renewed legal challenge that aims to overturn the decision to sanction the crypto mixer Tornado Cash from six individuals backed by cryptocurrency exchange Coinbase.A motion for a partial summary judgment was filed on April 5 in a Texas District Court, the Coinbase-backed plaintiffs moved
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In a later affidavit filed in March, Wright said that key evidence concerning the alleged breach had been submitted by his lawyers at Ontier without his permission, and constituted legally privileged material. Faced with a 17,000-word skeleton argument advanced by Wright’s new attorneys, buttressed by 1,600 pages of legal authorities,
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“Consummation of the plan by April 13 is necessary to preserve massive creditor value,” said a filing by Voyager’s creditors. “The evidence is uncontroverted that, if the deal is not completed, Voyager’s creditors will lose roughly $100 million in value.” Source
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Profits from the sale of cryptocurrencies like bitcoin are taxable, according to two rulings by the Supreme Court of Denmark. The verdicts in the cases, which involve crypto purchases and payments as well as income received from bitcoin mining, uphold decisions of lower courts. Denmark’s High Court Considers Crypto Gains Taxable
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