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"As alleged in the complaint, Genesis then exercised its discretion in how to use investors’ crypto assets to generate revenue and pay interest to Gemini Earn investors," the SEC said in its complaint. Genesis, like CryptoX, is owned by the Digital Currency Group (DCG). Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Prominent legal professionals specializing in crypto have responded to the recent motion filed by LBRY in its ongoing legal dispute with the US Securities and Exchange Commission (SEC), citing its possible repercussions on the XRP lawsuit. The
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Gemini Trust Co., a cryptocurrency exchange, and bankrupt lender Genesis Global Capital have jointly filed for the dismissal of a lawsuit brought by the Securities and Exchange Commission (SEC). The lawsuit claims that their Earn product violated securities regulations by offering unregistered securities.In their legal filings, the companies contended that
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Crypto lawyer Jesse Hynes expressed hope that the court supervising the Securities and Exchange Commission’s (SEC) legal action against Ripple would declare XRP a non-security digital asset. According to Hynes, if the court decides to look into
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Judge Breyer threw out the year-long Twitter shareholder lawsuit against Elon Musk, which accused him of cheating other shareholders. San Francisco’s US District Judge Charles Breyer has dismissed the shareholder lawsuit against Elon Musk challenging the Twitter buyout. On Monday, Breyer ruled that the context in which Musk sustained the suit lacked standing. According to
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A partner at Loevy & Loevy firm, Mike Kanovitz, has threatened to sue the founder of the PSYOP project, who goes by the handle “Ben_eth” , if he doesn’t refund presale purchasers of their hard-earned ethereum
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Jessica Jonas, chief legal officer of the nonprofit Bitcoin Legal Defense Fund, discussed the potential legal ramifications of a high profile lawsuit against Bitcoin core developers during the Bitcoin 2023 event in Miami on May 18.The case in question is a U.K. legal action filed by Craig Wright, the owner/operator
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Financial services firm Wells Fargo has reached a settlement in a class-action lawsuit, agreeing to pay shareholders $1 billion. The lawsuit alleged that the bank had misled its shareholders about its efforts to resolve the 2016 fake accounts scandal.A $1 billion all-cash settlement was granted preliminary approval by United States
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Crypto mining firm Riot Platforms – formerly Riot Blockchain – is seeking to recover “more than $26 million” in alleged unpaid fees from Texas-based Bitcoin (BTC) miner, Rhodian Enterprises, according to its Q1 2023 report.Published on May 10, Riot's Q1 2023 financial report stated that Whinstone – a wholly owned subsidiary of
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A lawsuit filed in a district court in Illinois details Jump Trading's alleged involvement with Terra Labs in manipulating the price of algorithmic stablecoin TerraUSD (UST). According to court documents from May 9, the firm purchased millions of UST tokens in 2021 hoping to manipulate its value to reach $1. Plaintiff
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