Cryptocurrency Analysis and News Portal
After the U.S. Commodity Futures Trading Commission sued Binance for alleged violations of trading and derivatives rules, a significant amount of cryptocurrency was withdrawn from the exchange. Data from analytics provider Nansen shows $400 million in Ethereum-based funds were withdrawn in 24 hours, and 3,655 bitcoin worth more than $99
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The surprise lawsuit from the Commodity Futures Trading Commission (CFTC) against crypto exchange Binance sent shock waves across the markets today. In addition to allegations of market manipulation and a lack of compliance effort, the regulator has also accused the exchange of not cooperating with investigative subpoenas and obscuring the location
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The United States Securities and Exchange Commission, or SEC, has called for a jury trial against Tron founder Justin Sun for the “orchestration of the unregistered offer and sale, manipulative trading, and unlawful touting of crypto asset securities.”In a March 22 filing in U.S. District Court for the Southern District
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On Mar. 20, GameFi project Gala Games announced it had recently filed a lawsuit against pNetwork, the cross-chain interoperability bridge used by Gala on the BNB Smart Chain. Last November, Gala Games was exploited after an unauthorized wallet address minted over $2 billion in GALA and dumped the tokens on
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The legal teams representing Alameda Research, FTX US and FTX Trading have filed a complaint against the Bahamas-based FTX Digital Markets, claiming the company was a “fraudulent enterprise” used as a shell entity to obfuscate the question of the firm’s ownership.In a March 19 filing with the United States Bankruptcy
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A class-action suit led by Edwin Garrison has been filed against “FTX influencers,” mostly on YouTuber, seeking $1 billion because they “promoted FTX crypto fraud without disclosing compensation.” The suit was filed March 15 in the Southern District of Florida Miami Division.Kevin Paffrath, Graham Stephan, Andrei Jikh, Jaspreet Singh, Brian
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A group of shareholders have reportedly filed a lawsuit against Silicon Valley Bank’s parent company and some of its executives amid the unfolding crisis.Multiple news outlets reported on March 13 that many Silicon Valley Bank shareholders alleged fraud from the bank, CEO Greg Becker and chief financial officer Daniel Beck.
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New York Attorney General (NYAG) Letitia James, claimed in court that ethereum (ETH) is security and exchanges should register it before offering it for trading. The AG filed a lawsuit against the crypto exchange KuCoin for allowing investors to buy and sell ETH without registering with the state. ETH is a security,
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On March 9, 2023, New York attorney general Letitia James announced that her office had once again cracked down on crypto platforms by filing a lawsuit against the Seychelles-based crypto exchange Kucoin. Members of the Office of the Attorney General (OAG) were able to purchase crypto assets, despite the exchange
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In a press release, the NYAG’s office said, “The petition argues that ETH, just like LUNA and UST, is a speculative asset that relies on the efforts of third-party developers in order to provide profit to the holders of ETH. Because of that, KuCoin was required to register before selling
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