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In the lawsuit, FTX said that Grayscale has been charging exorbitant management fees. They noted that “Grayscale’s actions have resulted in the Trusts’ shares trading at approximately a 50% discount to Net Asset Value”. In the latest development bankrupt crypto exchange FTX is suing the world’s largest crypto asset manager Grayscale
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"We will continue to use every tool we can to maximize recoveries for FTX customers and creditors,” said John J. Ray III, CEO and Chief Restructuring Officer of the FTX Debtors, in a statement. “Our goal is to unlock value that we believe is currently being suppressed by Grayscale's self-dealing
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New York Attorney General Letitia James has sued cryptocurrency exchange Coinex “for failing to register as a securities and commodities broker-dealer and for falsely representing itself as a crypto exchange.” The NY attorney general also stressed that Coinex is not registered with the U.S. Securities and Exchange Commission (SEC) even
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The New York State Attorney General's office sued crypto exchange CoinEx, arguing it was an unregistered securities broker and commodity broker-dealer under state law. Source
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Top Stories This Week Paxos ‘categorically disagrees’ with the SEC that BUSD is a security The United States Securities and Exchange Commission (SEC) has defined the stablecoin Binance USD (BUSD) as a security in a Wells Notice sent to its
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In a release Friday, the SEC said Pierce had been paid $244,000 in EMAX tokens, but did not disclose the payments while marketing the project on Twitter. He also allegedly suggested he held a large amount of EMAX tokens through screenshots, despite his holdings being "much lower" than what he
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"Terraform and Kwon also misled investors about one of the most important aspects of Terraform's offering – the stability of UST, the algorithmic 'stablecoin' purportedly pegged to the U.S. dollar," the suit said. "UST's price falling below its $1.00 'peg' and not quickly being restored by the algorithm would spell
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The United States Securities and Exchange Commission (SEC) has filed a lawsuit against Terraform Labs and its founder Do Kwon for "orchestrating a multi-billion dollar crypto asset securities fraud."In a Feb. 16 statement, the SEC said Kwon and Terraform offered and sold an "inter-connected suite of crypto asset securities, many
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Embattled crypto investment firm Alameda Research is suing bankrupt crypto lender Voyager Digital in an effort to claw back loan repayments FTX made before it collapsed in November.Lawyers managing the FTX and Alameda bankruptcy case sued Voyager for $445.8 million in a Delaware court on Jan. 30.While both companies filed
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Digital asset manager Osprey Funds filed suit against Grayscale Investments in Connecticut Superior Court on Jan. 30, alleging violation of the state’s Unfair Trade Practices Act. The suit concerns Grayscale advertising and promotion of the Bitcoin (BTC) exchange-traded fund (ETF) it is seeking to create. Osprey stated in the suit that
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