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In Monday's filing, Binance.US's attorneys wrote that freezing its funds would "primarily harm BAM’s customers, effectively put BAM out of business, and prevent BAM from defending itself in this litigation," as it could no longer pay its employees, vendors or other parties or even maintain its technology. Source
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"The SEC respectfully submits that this relief is necessary on an expedited basis to ensure the safety of customer assets and prevent the dissipation of available assets for any judgment, given the Defendants’ years of violative conduct, disregard of the laws of the United States, evasion of regulatory oversight, and
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The United States Securities and Exchange Commission filed an emergency motion in the District of Columbia U.S. District Court for a temporary restraining order against Binance, Binance.US and CEO Changpeng Zhao (CZ) on June 6 requesting eight actions. The first requested actions are the freezing of the assets of Binance.US and repatriation of
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Bitcoin (BTC) software firm Lightning Labs and blockchain startup Tari Labs have agreed to convert a court-ordered temporary restraining order that halts the development of Lightning's Taro protocol.In a March 15 filing, lawyers for both Lightning and Tari proposed converting the restraining order to a preliminary injunction — a temporary
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Law firms Holland & Knight and Bluestone have served a defendant in a hacking case with a temporary restraining order through a nonfungible token, marking the first known legal process to be facilitated by an NFT.The so-called “service token” or “service NFT” was served to an unnamed defendant in a
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The owner of crypto exchange Bitmart has filed a bid for pre-arbitration injunctive relief to prevent Chinese hackers from making illicit transfers using fraudulent Bitcoin SV (BSV) on its platform. According to a July 26 report, GBM Global Holdings, Bitmart’s owner, filed its bid with a New York federal judge despite
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