Search Results for: Court

Korean Crypto Exchanges Upbit, Bithumb Raided Over Lawmaker’s Crypto Dealings

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South Korean prosecutors have raided two of the country’s largest coin trading platforms within an investigation into the crypto investments of a politician. They seized materials from Upbit and Bithumb amid suspicions of wrongdoing related to the lawmaker’s cryptocurrency holdings. South…

Crypto Exchange Bittrex Enters Chapter 11 Bankruptcy Protection Following SEC Lawsuit

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Bittrex Inc., the U.S.-based cryptocurrency exchange, has filed for Chapter 11 bankruptcy protection in Delaware after being sued by the U.S. Securities and Exchange Commission for failing to register with the regulator. The exchange reportedly has over 100,000 creditors and liabilities…

Lawyer Expects SEC to Lose if It Sues Coinbase Due to ‘Fatal Flaw’ of Gary Gensler’s Own Making

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A lawyer has explained why the U.S. Securities and Exchange Commission (SEC) will likely lose if the regulator takes crypto exchange Coinbase to court over alleged securities law violations. “The problem is entirely of Gary Gensler’s own making,” he stressed. Lawyer…

Voyager Digital Provides Update on Reimbursement Plan for Creditors

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Following Binance’s withdrawal from the Voyager Digital deal on April 25, the now-defunct crypto lender has recently informed creditors that they can expect to receive their initial cash and crypto distributions “within the next few weeks.” This update comes nine days…

Jack Dorsey-Backed Bitcoin Legal Defense Fund Supports Open Source Developers in Lawsuit With Craig Wright

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Bitcoin Legal Defense Fund (BLDF) recently delivered on its promise to fund the legal costs of 11 Bitcoin developers that are the target of the self-proclaimed Bitcoin inventor Craig Wright’s lawsuit. According to Alex Morcos, the “mission [of BLDF] is to…

Brazil Bans Telegram Temporarily Due to Alleged Lack of Collaboration in Fight Against School Violence

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A federal judge in Brazil has ordered the temporary suspension of Telegram in the country and established hefty fines due to the supposed lack of collaboration of the company in a national crusade against school violence. Telegram failed to deliver information…

FTX Boss Ryan Salame’s Maryland Home Searched by FBI in Unexplained Raid

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According to unnamed sources, the home of Ryan Salame, the former co-chief executive of FTX Digital Markets, was searched by the U.S. Federal Bureau of Investigation (FBI) on Thursday. The grounds for the raid remain unknown, and neither Salame nor his…

Coinbase Shares Wells Response, Challenges SEC’s Change in Attitude Towards Its Core Businesses

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On April 27, Coinbase, the crypto exchange based in San Francisco, made public the disclosure of its response to the Wells notice it had received from the U.S. Securities and Exchange Commission (SEC) back in March. The company maintained that the…

Report: Terraform Labs Co-Founder Indicted on Fraud Charges in South Korea

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Recent local reports have brought to light that Shin Hyun-seong, also known as Daniel Shin, co-founder of Terraform Labs, has been indicted by the Seoul Southern District Prosecutors’ Office on charges of fraud. Along with nine others, Shin is suspected of…

US Court Sentences Russian Crypto Ransom Launderer to Probation and Fine

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A Russian crypto entrepreneur, charged with laundering money from ransomware attacks, has been sentenced to probation and fined in the U.S. after pleading guilty. Founder of two coin trading platforms, Denis Dubnikov, was arrested in the Netherlands and extradited to the…