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While investors are eager to know when they will be able to get their funds back from the now-bankrupt crypto exchange FTX, insolvency lawyers warn it could take “decades.”The crypto exchange, along with 130 affiliates filed for Chapter 11 bankruptcy protection in the United States on Nov. 11.Insolvency lawyer Stephen
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Paul, Weiss, the law firm backing FTX CEO Sam Bankman-Fried (SBF) amid bankruptcy, renounced representing the entrepreneur, citing a conflict of interest. The decision to withdraw from representation after SBF’s tweets were found to disrupt the law firm’s reorganization efforts.Starting Nov. 14, SBF published a series of tweets that amassed
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Although FTX’s terms of service prevented it from using customer’s crypto, lawyers told CoinDesk that its swift downfall indicates the funds were misused. Original Source
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Crypto influencers may need to practice what they preach and “do their own research” when it comes to sharing their crypto tips.According to several digital asset lawyers, the popular disclaimer “this is not financial advice” — may not actually protect them in the eyes of the law. United-States-based securities lawyer
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Still, it's how the CFTC has brought these charges that has attorneys in the crypto industry sounding alarm bells. The agency sought court permission to serve the entire DAO at once by posting the lawsuit on a public forum and through a help bot. Judge William Orrick, of the Northern
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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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Tweets sent in 2019 by Hodlonaut, whose identity has since been revealed as Magnus Granath, were a “lasting, well-thought-through and reckless campaign that others were to take part in,” Wright’s lawyer Halvor Manshaus told the court. “To call somebody a fraud and a scammer – that, I would say, is
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Intellectual property (IP) rights will continue to be a growing area of tension within Web3 and NFTs, as IP rights often rely on a single "identifiable entity," while Web3 is more often decentralized. Speaking to Cryptox, David Kappos, a partner at Cravath, Swaine & Moore LLP said that IP is traditionally
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Closing statements on behalf of the Twitter user targeted by Wright suggests the case could hinge on vagaries of Norwegian defamation law as much as the identity of bitcoin’s founder. Source
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Satoshi, Manshaus said, means “Ash” in Japanese – and Wright chose it because he wanted Bitcoin to take down the legacy financial system, and “rise like a phoenix from its ashes.” It had the added benefit, according to Manshaus, of being the Japanese-language name of Pokemon character Ash Ketchum. (Note: CryptoX
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