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Fake DJ Marshmello presents sham coin at Web Summit as activists’ campaign

At the Web Summit in Lisbon, a fake DJ appeared to advertise the launch of non-existing Adidas’ new Adicoin coin, but something went wrong. What is Adicoin According to a crypto.news editor Lena Bozhkova, a presentation of the new Adicoin with DJ Marshmello took place at the Web Summit in Lisboa. Source: crypto.news The

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Sam Bankman-Fried Wants to Probe Lawyers’ Involvement in $200M ‘Sham’ Alameda Loans

Wang’s “understanding that these were actual loans – structured by lawyers and memorialized in formal promissory notes that imposed real interest payment obligations – is relevant to rebut the inference that these were simply sham loans directed by Mr. Bankman-Fried to conceal the source of the funds,” the filing said. Source

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SEC freezes assets of DEBT Box, alleging $50M node license ‘sham’

The United States Securities and Exchange Commission has obtained a temporary asset freeze against Utah-based crypto company Digital Licensing Inc, accusing the firm of perpetrating a $50 million fraudulent crypto scheme.On Aug. 3 the SEC announced it had obtained a temporary asset freeze, restraining order, and other emergency relief against

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Celsius eyes merge of entities as creditors claim distinctions were a ‘sham’

Defunct crypto lender Celsius Network is looking to combine its United Kingdom and United States entities as new court filings allege that any supposed distinction between the two companies was a “sham.”The central point of dispute is focused on a decision made by the crypto lender in June 2021, when

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Bankrupt Crypto Lender Celsius Seeks to Merge UK, U.S. Entities Amid Allegations Distinction Was a ‘Sham’

Regular customers, misled by management, didn’t understand the implications of this transfer – but more sophisticated Series B investors were well aware of deficient record keeping, the filing added, arguing that the two entities should be treated as one for bankruptcy purposes. Original Source

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US lawmakers reiterate concerns about ‘sham’ crypto firm audits to PCAOB

United States Senators Elizabeth Warren and Ron Wyden have cited the recent collapse of three major banks to call on the Public Company Accounting Oversight Board to “rein in” audits of crypto firms.In a March 21 letter to Public Company Accounting Oversight Board chair Erica Williams, Warren and Wyden reiterated

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U.S. Senate’s Warren Calls for Crackdown on ‘Sham’ Crypto Audits

The Public Company Accounting Oversight Board (PCAOB), which is authorized and overseen by the U.S. Securities and Exchange Commission (SEC) and funded by audited public companies, acknowledged the potential problem with crypto auditing to the lawmakers, including Sen. Ron Wyden (D-Ore.), chair of the Senate Finance Committee. Source

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Sen. Warren calls out ‘sham audits’ while SVB threatens crypto bankruptcy

United States Senators Elizabeth Warren and Ron Wyden asked the Public Company Accounting Oversight Board (PCAOB) to hold auditors accountable for failed crypto projects. The PCAOB — a non-profit overseeing the audits of public companies and other issuers — recently stated that proof-of-reserves (POR) are not equivalent to audits and are

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Demand for Arbitration Filed Against Genesis Global Capital, DCG — Firm Accused of ‘Ochestrating a Sham Transaction’ – Bitcoin News

Three Gemini Earn users have accused Genesis Global Capital of breaching a contract and have subsequently filed a demand for class arbitration with the American Arbitration Association. In addition, the three users assert that all transactions “constituted unregistered sales of securities” and therefore must be rescinded. ‘A Sham Transaction’ A demand

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