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A federal judge overseeing Three Arrows Capital’s (3AC’s) bankruptcy proceedings has signed an order approving subpoenas to be delivered to 3AC’s former leadership, including co-founders Su Zhu and Kyle Davies.The subpoenas require the founders to give up any “recorded information, including books, documents, records, and papers” in their custody that
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U.S. Senator John Boozman says bitcoin, although a cryptocurrency, is a commodity in the eyes of the federal courts and the Securities and Exchange Commission (SEC) chairman. He stressed that exchanges where commodities are traded, including bitcoin, must be regulated and the Commodity Futures Trading Commission (CFTC) is the right
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Talks to resolve a dispute over losses GMO suffered due to a "power shortage" were paused when Riot acquired the facility, according to GMO. Given the decrease in hosting fees, it looked like the Japanese company was asking for $3 million for the power shortage losses, until April this year,
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The U.S. Securities and Exchange Commision (SEC) has been granted an extension to submit a discovery schedule relating to individual defendants Brad Garlinghouse (CEO) and Chris Larsen (co-founder) as part of the case against Ripple Labs. The bitter legal dispute has been going since late December 2020, after the SEC
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The Advertising Standards Authority (ASA), a body that oversees advertising in the United Kingdom, is cracking down on non-compliant crypto advertisements. Earlier this year, Arsenal became one of the many football clubs to collaborate with blockchain firm Chiliz and launch a fan token. On Aug. 12 this year, the club promoted
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A British government-sanctioned task force has proposed a dispute resolution framework that would keep cryptocurrency and smart contract disagreements out of the courts. A 14-page report published by LawTechUK’s UK Jurisdiction Taskforce puts forward new “Digital Dispute Resolution Rules” that aim to provide a standardized means of dealing with smart
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As we approach the end of 2020, the blockchain industry is experiencing another resurgence. Bitcoin prices are hovering around all-time highs, decentralized finance, or DeFi, is exploring new offerings seemingly every week and tech stalwarts such as PayPal are integrating crypto into their offerings.These developments are positive news as we
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Tether disputes allegations of market manipulation brought in court, Vitalik Buterin issues a proposal for Ethereum’s high gas fees and Voatz weighed in on whether a longstanding federal law over computer access is overly broad. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news,
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Digital advertising company Bidooh has taken two of its former co-founders to court on accusations they stole company software. Bidooh COO Vicki Simms said in the group's official Telegram chat on Jan. 20 that the platform had been "seriously tampered with" and that the company had taken legal proceedings against
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Yongjiang, which supplies electronic device components, asked the court on Sept. 25 to freeze 4.7 million yuan (around $676,000), in assets owned by the mining subsidiary to ensure it would be able to claim such an amount should the court rule in its favor in an ongoing trade contract dispute. Source
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