Tag: legal

Feb 01 2023

SBF restricted from using Signal, communicating with FTX employees

Feb 01 2023 Published at CryptoSlate under tags  legal

Federal judge Lewis Kaplan has imposed communication restrictions on former FTX CEO Sam Bankman-Fried, as seen in a Feb. 1 court filing. The ruling imposes two restrictions. First, Bankman-Fried will be barred from using encrypted and self-deleting messaging apps, including Signal ⁠— a popular messaging app that he has used to contact associates in...

U.K. Details Plan To Regulate Bitcoin, Cryptocurrency Industry

Feb 01 2023 Published at Bitcoin Magazine under tags  legal lending news regulation trading

The United Kingdom has released its first consultation on crypto trading and lending regulation within the country.The United Kingdom has released its plans to regulate the cryptocurrency industry within the country.The announcement highlights that “high levels of volatility and a number of recent...

FTX Group interim financial update contradicts court filing, shows exchange had $1.43B in cash

Feb 01 2023 Published at CryptoSlate under tags  bankruptcy exchanges legal

FTX Group released an interim financial update showing the company held $1.43 billion in cash at the end of 2022 — higher than the $1.24 billion reported on Nov. 20, 2022, according to a court filing. Sister company Alameda Research reported $876.6 million in the filing, as opposed to $401 million reported in November 2022. FTX headcount drops The number of FTX Group...

Jan 31 2023

Alameda Research sues Voyager for $446M to recover loan repayments

Jan 31 2023 Published at CryptoSlate under tags  bankruptcy legal

Defunct crypto hedge fund Alameda Research has sued bankrupt crypto lender Voyager Digital for $445.8 million. Alameda is trying to recover the loan repayments it made to Voyager in the 90 days preceding its own bankruptcy, according to a court filing on Jan. 30. Alameda...

SBF’s bail bond co-signers may soon be named

Jan 31 2023 Published at CryptoSlate under tags  bankruptcy crime legal

The judge overseeing Sam Bankman-Fried's criminal case has decided that the names of two bail bond signers can be revealed, as determined in a Jan. 30 filing. Bankman-Fried, the former CEO of FTX, was briefly detained in the U.S. following his extradition from the Bahamas on Dec. 21. When he was released on bail on Dec. 22, his parents signed...

Jan 30 2023

Grayscale faces lawsuit from rival Osprey over long-awaited ETF conversion

Jan 30 2023 Published at CryptoSlate under tags  legal

Digital asset manager Grayscale faces a lawsuit from its much smaller competitor, Osprey Funds, as seen in a Connecticut court filing dated Jan. 30. According to Osprey, Grayscale falsely promised to turn its Grayscale Bitcoin Trust (GBTC) into a Bitcoin spot exchange-traded fund (ETF). Osprey said that Grayscale portrayed that outcome as a...

NYDFS investigating Gemini over FDIC-related claims

Jan 30 2023 Published at CryptoSlate under tags  exchanges legal

The New York Department of Financial Services (NYDFS) is investigating Gemini over its claims related to Federal Deposit Insurance Corporation (FDIC) coverage, Axios reported on Jan. 30. Gemini Earn users are collectively owed $765.9...

Singapore financial watchdog’s chairman questions if regulating crypto legitimizes speculation

Jan 30 2023 Published at CryptoSlate under tags  legal regulation

Chairman of the Monetary Authority of Singapore (MAS), Tharman Shanmugaratnam, spoke at the WEF23 and stated a controversial take on crypto regulations and questioned if regulating crypto could legitimize speculation, VulcanPost reported....

Jan 29 2023

Justin Sun aims to get TRON adopted as legal tender in 5 nations by 2023

Jan 29 2023 Published at CryptoSlate under tags  adoption legal tokens

Tron founder Justin Sun aims to get TRON (TRX) accepted as legal tender in 5 countries this year. In a Twitter thread, Sun said that while the goal is "ambitious," he is "confident" that it can become a reality. In a...

Jan 27 2023

Biden Administration Releases Roadmap To Mitigate Cryptocurrency Risks

The White House has unveiled a roadmap to reduce risks associated with the wider cryptocurrency industry.The Biden Administration has posted an official blog detailing its roadmap to mitigate the risks of cryptocurrencies.The roadmap starts by citing the 2022 implosion of...

Senator Ted Cruz Is Bringing Bitcoin To The Capitol With Vending Machines

Jan 27 2023 Published at Bitcoin Magazine under tags  legal news politicians ted cruz texas

The Texas Senator has introduced a resolution requesting Capitol vendors to accept bitcoin.Sen. Ted Cruz (TX-R) has proposed a resolution that would request vendors within the Capitol area to work with payments providers that accept bitcoin.The proposal specifically mentions that restaurants, gift...

Argo Blockchain hit with class action lawsuit over IPO misinformation

Jan 27 2023 Published at CryptoSlate under tags  legal mining

Argo Blockchain investors have filed a lawsuit alleging that the crypto miner made misleading statements and concealed important information during its initial public offering (IPO) filing. The Texas-based Bitcoin mining firm went public on Sept. 23, 2021, after submitting the required documents to the U.S. Securities and Exchange Commission (SEC). During its IPO, Argo issued about 7.5 million ADS shares at an offering...

Jan 26 2023

Mango Markets exploiter slammed with new lawsuit

Jan 26 2023 Published at CryptoSlate under tags  avraham eisenberg legal mango markets

Mango Markets' exploiter Avraham Eisenberg has been sued by the decentralized finance (DeFi) protocol developer, Mango Labs, according to a Jan. 25 court filing. Mango Labs alleged that Eisenberg executed a $114 million malicious attack on the DeFi protocol on Oct. 11, 2022, and bragged about it on Twitter. The firm wrote that: "[Eisenberg] manipulated the value of the Mango token (MNGO) and,...

FTX creditors include Google, Meta, Circle, Genesis, govt. agencies

Jan 26 2023 Published at CryptoSlate under tags  bankruptcy featured legal

FTX finally revealed its complete list of creditors on Jan. 25 but withheld the names of nearly 9.6 million users in accordance with a court order. The defunct crypto exchange owes millions of creditors, including U.S. and international government agencies, law firms, banks, media outlets, charitable foundations, marketing agencies and more. The creditor matrix brings to light the impact of FTX's collapse —...

Dark web hitmen paid $60,000 BTC to kidnap estranged wife

Jan 26 2023 Published at CryptoSlate under tags  crime legal

Ronald Craig Ilg — 56, of Spokane, Washington — has been sentenced to 96 months in federal prison for paying over $60,000 Bitcoin (BTC) to dark web hitmen. Ilg...

Jan 25 2023

Roger Ver says he can afford to pay Genesis $20M but insolvency changes agreement

Jan 25 2023 Published at CryptoSlate under tags  bankruptcy legal

Bitcoin Cash evangelist Roger Ver said on Jan. 25 that he can afford to pay money that he allegedly owes to Genesis, but that he may not need to do so. On Monday, a subsidiary of Genesis summoned Ver over a $20.86 million claim regarding options...

Arizona senator keeps pushing to make Bitcoin legal tender

Jan 25 2023 Published at CryptoSlate under tags  legal

Republican senator Wendy Rogers introduced a bill on Jan. 25 that proposes including Bitcoin (BTC) in the list of currencies accepted as legal tender in Arizona. If passed, Arizona would become the first state in the U.S. to embrace Bitcoin as an official currency. The bill, if approved, will enable Arizona residents to buy and sell goods and services, and pay taxes and...

Arizona Senator Introduces Bill To Make Bitcoin Legal Tender In The State

Jan 25 2023 Published at Bitcoin Magazine under tags  arizona laws legal legal tender news

A bill introduced by Sen. Wendy Rogers reflects growing interest in bitcoin from U.S. states.State Sen. Wendy Rogers (R-AZ) has introduced a set of bills aimed at making bitcoin legal tender in Arizona and allowing state agencies to accept bitcoin.The proposed...

Prosecutors seize SBF’s $50M deposit to small bank

Jan 25 2023 Published at CryptoSlate under tags  exchanges investments legal

Prosecutors seized just under $50 million belonging to FTX founder Sam Bankman-Fried (SBF) held in Farmington State Bank on Jan. 4, according to a Yahoo Finance (YF) report on Jan. 24. The total amount seized was only $500 short of $50 million, according to the YF...

Genesis creditors launch class action lawsuit against DCG, Barry Silbert

Jan 25 2023 Published at CryptoSlate under tags  bankruptcy legal

Genesis creditors are suing Digital Currency Group (DCG) and its CEO Barry Silbert for alleged violations of federal securities laws, according to a press release on Jan. 23. The class action lawsuit seeks to hold DCG and Silbert liable as "Control Person(s)" in accordance with federal securities laws — DCG being the parent company of Genesis, which...

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