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The ongoing lawsuit has a complaint against Mercedes F1 that echoes the accusations, asserting that the team prominently featured FTX’s logo on its cars, merchandise, and marketing materials. A group of FTX users has filed twin class-action lawsuits in a Florida district court, accusing the Mercedes-AMG Petronas F1 Team and Major
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Stepping away from the headlines, a number of observers have noted that the Binance settlement in essence may have cleared the decks for the U.S. Securities and Exchange Commission (SEC) to finally approve a spot bitcoin ETF. The neutering of Binance and exit of CZ, they said, might have eased
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Summary of blockchain project fundraising for the week of Oct. 30 to Nov. 3. Highlights included a $12M raise for Ekubo Protocol and $6.3M for the AI-based blockchain project Modulus. Source
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Artists have been dealt a setback in their copyright fight against generative artificial intelligence (AI) firms after a class-action lawsuit against several of the firms was dismissed by a United States judge, citing a lack of evidence.In an Oct. 30 order, California District Court Judge William Orrick said the copyright
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Former FTX’s head of engineering Nishad Singh spills the beans over reckless expenditure of customers’ funds by Sam Bankman-Fried. He also admits to being part of these crimes. During his trial at the Manhattan Federal court on Monday, October 16, FTX chief of engineering Nishad Singh disclosed the reckless spending
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Crypto data aggregator CoinGecko released a study on Oct. 10 about the most active cryptocurrency firms, with Coinbase Ventures emerging as the most active. Data in the study showed that the Coinbase Ventures made 144 investments in pre-seed or seed stage and an additional 199 investments at the early stages of
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The integration of conventional payment cards with cryptocurrency exchanges is playing a crucial role in driving the adoption of digital assets, according to a Visa executive.Speaking to Cointelegraph reporter Ezra Reguerra during a panel at the Blockchain Economy Dubai Summit, Visa’s vice president, head of innovation and design, Akshay Chopra,
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South Korean regulators have turned their focus to over-the-counter (OTC) crypto trades amid growing concerns about its use for criminal activities. The financial regulators in the country are reportedly monitoring the OTC crypto market trades.According to a report published in a local daily, deputy chief prosecutor Ki No-Seong and Park
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A large chunk of OKX’s $25-$50 million annual advertising budget goes towards its sports deals. Crypto exchange OKX wants its deals with Formula 1 team McLaren and UEFA Champions League-winning team Manchester City to last a decade. The company reportedly spends $25-$50 million per year in its sponsorship deals with the
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According to the filing, the payments in question are characterized as “certain prepayments related to various advertising and sponsorship agreements, security deposits, retainers, and other miscellaneous deposits and prepayments.” In a recent court filing, the current management of the defunct FTX Derivatives Exchange has shed light on the intricate web of
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