Lawsuit

XRP Lawsuit: SEC's course of action will have this effect

XRP Lawsuit: SEC’s course of action will have this effect

Many investors hoping for a speedy resolution in the SEC vs Ripple Labs lawsuit were disappointed as the court granted the SEC’s request to push the discovery deadline to 14 January 2022. One such disappointed individual was John Deaton – Counsel for Amici Curiae – or “friends of the court” – who was representing thousands of …

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Terra’s Do Kwon Was Served by SEC, New Lawsuit Shows

Terra’s Do Kwon Was Served by SEC, New Lawsuit Shows

Terraform Labs CEO Do Kwon is suing the U.S. Securities and Exchange Commission (SEC). The builder of decentralized finance (DeFi) platform Terra confirmed he was served with an SEC subpoena at Messari’s Mainnet conference last month, according to a lawsuit filed Friday by both Kwon and Terraform Labs. The matter stretches back to May 2021, when SEC’s Enforcement …

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XRP lawsuit update: Ripple opposes SEC's motion to strike citing 'cherry-picked facts'

XRP lawsuit update: Ripple opposes SEC’s motion to strike citing ‘cherry-picked facts’

The SEC v. Ripple battle has prolonged itself for more than five months now, yet there are no signs of it concluding. The lawsuit further unfolded on Thursday after Ripple filed its Memorandum of Law in opposition to SEC’s “lack of due process” and “fair notice” criticism. The regulatory watchdog has also accused Ripple Labs …

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Despite SEC lawsuit against Ripple, why this was a quarter of XRP accumulation

Despite SEC lawsuit against Ripple, why this was a quarter of XRP accumulation

On 22 December, SEC charged Ripple for allegedly raising funds, through the sale of XRP in an “unregistered securities offering to investors.” According to the filing, co-founder Chris Larsen and CEO Brad Garlinghouse also “effected personal unregistered sales of XRP totaling approximately $600 million.” This action instigated by the SEC resulted in the immediate drop …

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XRP lawsuit effect: Ex-SEC Chair talks about Bitcoin's (non)security status

XRP lawsuit effect: Ex-SEC Chair talks about Bitcoin’s (non)security status

Earlier today, investment banking company Morgan Stanley filed multiple institutional funds that may gain exposure to Bitcoin especially through shares of Grayscale’s Bitcoin Trust or cash-settled futures. Recently, Goldman Sachs said it was planning to launch investment offerings in the crypto asset class in the second quarter. What these new developments prove is that bitcoin …

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Coinbase faces class action lawsuit in California over XRP sale

Coinbase faces class action lawsuit in California over XRP sale

A new lawsuit in California federal court alleges that Coinbase violated the state’s unfair competition laws by making a commission from the sale of Ripple’s XRP. Ripple was recently sued by the Securities and Exchange Commission (SEC) for allegedly issuing XRP as an unregistered securities offering. The new class-action suit was filed by Thomas Sandoval, …

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Executives central to the Findora mystery hit with lawsuit alleging fraud and embezzlement

Executives central to the Findora mystery hit with lawsuit alleging fraud and embezzlement

A newly filed lawsuit has shed some light on one of the most bizarre storylines to bubble up from the world of cryptocurrency. Ariel Abittan, a New York-based investor who says he is a shareholder of Eian Labs, a U.S.-based DeFi startup that was rebranded to Findora in 2019, filed the suit on December 24 …

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Three big questions now that the U.S. government is cracking down on BitMEX

BitMEX officials allegedly ‘looted’ $440 million from exchange after learning about U.S. charges, per lawsuit filing

Plaintiffs in a civil lawsuit filed this spring allege that the leadership of HDR Global — the parent company of crypto derivatives exchange BitMEX — withdrew significant sums of money once they learned about investigations and pending charges from U.S. regulators and law enforcement. The allegations were included in an October 30 court filing. That …

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SEC targets crypto multi-level marketing scheme in new lawsuit

SEC targets crypto multi-level marketing scheme in new lawsuit

The U.S. Securities and Exchange Commission said Friday that it filed charges last month against three individuals who allegedly  cryptocurrency investment scheme. The complaint, filed under seal on May 7, targets Modern Money Team (MMT), which it describes as a “multilevel marketing business” that defrauded investors of more than $12 million. MMT describes itself as …

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