Cryptocurrency Analysis and News Portal
A group of customers of the recently collapsed crypto exchange FTX, is organizing to take legal action against the company. The suit would be led by Ray Nasser, CEO of Arthur Mining, and will be brought by customers who had more than $100,000 on the exchange by the time of
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Simms has asked the court for provisional relief including the recognition of Bahamian bankruptcy and liquidation proceedings, and orders entrusting FTX’s assets located in the U.S. to Bahamian liquidators, authorizing “urgent discovery measures,” and preventing any of FTX’s assets to be “transfer[ed], encumber[ed] or otherwise dispose[d] of.” Original Source
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Within a week, crypto exchange FTX has gone from proposing an acquisition by Binance to sort out its liquidity issues to proceeding with filing for bankruptcy under Chapter 11 in the District of Delaware.In a Nov. 11 tweet, FTX said roughly 130 companies in FTX Group including FTX Trading, FTX
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Financial services companies Paypal and Western Union have each filed three new trademark applications covering a wide range of crypto services. Paypal’s applications are also for the payments giant’s logo. Paypal’s New Trademark Filings for Crypto Services Paypal Inc. has filed three new trademark applications with the United States Patent and Trademark
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Crypto lender Nexo is having issues with state authorities from California, New York, Washington, Kentucky, Vermont, South Carolina, and Maryland. The enforcement actions from multiple state securities regulators detail that Nexo’s Earn Interest Product (EIP) may be in violation of securities laws. Nexo Targeted by Several Securities Regulators Over the Crypto
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An international law firm representing groups of Celsius investors has filed a motion to appoint a committee to represent their interests in the crypto lending firm’s bankruptcy case.In a Thursday filing with the U.S. Bankruptcy Court in the Southern District of New York, lawyers with the law firm Milbank requested
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“Not only is the UCC [Unsecured Creditors Committee] laser focused on maximizing value for the customers, without regard for the Equity Holders, but the Debtors also have made it abundantly clear that the UCC is their partner, and these cases are all about the customer,” the statement said. Original Source
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In Custodia’s complaint, lawyers for the Wyoming-based bank argued that a master account was “vital to Custodia’s ability to operate effectively and efficiently,” and that the Fed’s continued waffling on the decision was detrimental to Custodia’s customers – and, furthermore, indicated a “black box bureaucratic process with no clear rules”
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Climate activists are now turning towards Bitcoin, urging the network to adopt a sustainable PoS consensus. Proof of work network is notorious for its extensive energy consumption, using vast amounts of energy to process crypto transactions After Ethereum’s successful transition towards the proof of stake consensus, several climate activities are now turning
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SafeMoon investors are letting Barstool Sports founder Dave Portnoy off the hook as the plaintiffs filed for his dismissal from the lawsuit against him for allegedly promoting the SafeMoon token. On Aug. 8, the internet celebrity tweeted that he is being sued by investors for “shilling SafeMoon.” Portnoy claimed that he
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