Tagged: lawsuit

Binance $4.3 Billion Penalty Approved by Judge

Binance, the largest crypto exchange in the world, must pay $4.3 billion in penalties in a settlement previously announced. According to multiple reports, the judge handling the case approved the guilty plea and the penalty.  The settlement was revealed last November and included the exit… Read More

Kadan Stadelmann of Komodo Comments on Ripple v. SEC Lawsuit

Crowdfund Insider recently caught up with Kadan Stadelmann, a blockchain developer, operations security professional, and Komodo Platform’s CTO. As a side note, Komodo, a blockchain interoperability and atomic swap technology leader, recently rebranded its flagship end-user application from “AtomicDEX” to “Komodo Wallet” and its “AtomicDEX… Read More

FTX Creditors File Lawsuit Against Bankruptcy Law Firm Sullivan & Cromwell, Claiming Involvement in Fraudulent Actitivies

Failed crypto exchange FTX‘s creditors are reportedly suing bankruptcy law firm Sullivan & Cromwell (S&C), as part of an extensive lawsuit that is alleging major fraud involvement. Digital currency exchange FTX creditors are now seeking damages against Sullivan & Cromwell for its previous engagements with… Read More

NYAG Amends Lawsuit Against Gemini and DCG, Alleging that Investors Were Defrauded Out of Over $3 Billion

New York Attorney General Letitia James recenty filed an amended complaint, expanding the Office of the Attorney General’s (OAG) lawsuit against Digital Currency Group, Inc., DCG’s CEO, Barry Silbert, and Genesis Global Capital, LLC and its affiliates’ (Genesis) former CEO, Soichiro Moro, for allegedly “defrauding… Read More

KuCoin to Exit New York Market, Pay Penalty in Settlement with State of New York

In a settlement with the State of New York, crypto exchange KuCoin has admitted that it operates a crypto trading platform that is effectively providing a service where users can buy or sell securities and commodities as defined by the State of New York. KuCoin… Read More

Coinbase Alleges that SEC Is Overreaching in Crypto Exchange’s Latest Efforts to Dismiss Lawsuit

Crypto exchange Coinbase (NASDAQ:COIN) is alleging that the US Securities and Exchange Commission (SEC) has overstepped in the firm’s most recent effort to dismiss the ongoing lawsuit. Coinbase’s response to the SEC‘s lawsuit filed earlier this year is that not everything qualifies as a security…. Read More

Enterprise Blockchain Firm Ripple Determined to Battle SEC Lawsuit to the End

US-headquartered crypto firm Ripple recently stated that it intends to keep fighting the current lawsuit with the US Securities and Exchange Commission (SEC). The dustup with the regulator is emblematic of the broader challenges digital asset firms face in the US as the SEC has… Read More

Bitfinex and Tether CTO Paolo Ardoino to Testify in Alleged Crypto Market Manipulation Lawsuit

Bitfinex and Tether Chief Technical Officer Paolo Ardoino will be deposed as part of a class-action lawsuit against both firms and their related executives. This past Monday, a New York judge reportedly made the decision to deny Ardoino’s request to further delay his deposition until… Read More

Gemini Is Encouraging Other Creditors to Get Behind a Plan to Obtain More Money from Genesis’ Parent Firm, Digital Currency Group

Digital currency exchange Gemini is attempting to encourage various other creditors behind a plan to get more money from bankrupt cryptocurrency lending company Genesis‘ parent firm, the Digital Currency Group (DCG), This, according to an update from the Information shared this past Friday. The latest… Read More

Coinbase Requests Judge to End US SEC Lawsuit Against Firm for Violating Federal Securities Laws

Coinbase Global (NASDAQ:COIN) on Friday (August 4, 2023) reportedly requested a judge to end the US Securities and Exchange Commission’s (SEC) ongoing lawsuit that’s accusing the world’s biggest publicly-listed crypto exchange of violating applicable federal securities laws. As mentioned in a filing in federal court… Read More

Tether Reports Legal Win in Challenge to USDT’s Reserves

Tether, the issuer of the world’s most popular stablecoin – USDT, has posted that it has won a legal victory in the US District Court for the Southern District of New York. The case stems from a complaint filed all the way back in 2021…. Read More

Gemini Sues Digital Currency Group (DCG), CEO Barry Silbert After Dispute Over Unit’s Restructuring Process

Digital asset firm Gemini, one of the largest creditors of bankrupt virtual currency lending platform Genesis, has reportedly sued parent firm Digital Currency Group (DCG) and its CEO. This update has been announced the day after DCG missed the crypto exchange’s deadline for agreeing to… Read More

DealMaker Issues Statement on Legal Dispute with Issuance

As was previously reported, DealMaker has filed a lawsuit against Issuance and its founder Darren Marble claiming the Issuance platform is “predicated on and copied from DealMaker’s own platform.” In a comment sent to CI, Marble said “the claims in this lawsuit are entirely without… Read More

FTC, Florida Attorney General Sue Chargebacks911 for “Thwarting” Consumers Trying to Reverse Disputed Charges

The Federal Trade Commission and the State of Florida have filed suit against Chargebacks911 “for unfairly thwarting consumers who were trying to dispute credit card charges through the chargeback process.” In a complaint filed in federal court, the FTC and Florida charged “that, since at… Read More

New York Attorney General James Continues Crackdown on Unregistered Crypto Platforms

New York Attorney General Letitia James continued her efforts to crack down on unregistered cryptocurrency platforms by filing a lawsuit against KuCoin for allegedly failing to register “as a securities and commodities broker-dealer and falsely representing itself as an exchange.” The Office of the Attorney… Read More

New York Attorney General Files Lawsuit Against Alex Mashinsky, Founder of Celsius Network

  New York Attorney General Letitia James has filed a lawsuit against the beleaguered founder and former CEO of Celsius Network, Alex Mashinsky. Celsius is in the midst of bankruptcy proceedings. Once a high-profile crypto executive, Mashinsky exited the firm this past September. According to… Read More

Logistics Payments Platform PayCargo Awarded $15M+ In Case Against CargoSprint

Logistics payments and data infrastructure platform PayCargo announced that it has been awarded $15.1 million inclusive of attorneys’ fees, prejudgment interest, and costs in “a trademark infringement and breach of contract lawsuit the company brought against CargoSprint and its founder/CEO Joshua Wolf.” The judge in… Read More

LBRY Predicts Own Demise Following SEC Court Battle

LBRY, a digital asset firm that was the target of a Securities and Exchange Commission (SEC) enforcement action, has taken to Twitter to predict its own demise stating it will “probably be dead in the near future.” Since any information given privately to the SEC… Read More

Grayscales Has Had Enough, Sues SEC Due to Foot Dragging on Bitcoin ETF

Grayscale Investments, a large digital asset manager with listed products trading on OTC Markets, has sued the Securities and Exchange Commission (SEC) due to the agency’s refusal to approve a Bitcoin-based Exchange Traded Product (ETP) or spot Bitcoin ETF. According to a release, Grayscale filed… Read More

CFPB Sues MoneyLion for Overcharging Servicemembers, “Trapping” Consumers in Costly Memberships

The Consumer Financial Protection Bureau (CFPB) sued MoneyLion Technologies, an online lender, and 38 of its subsidiaries, “for imposing illegal and excessive charges on servicemembers and their dependents.” The CFPB alleges that MoneyLion “violated the Military Lending Act by charging more than the legally allowable… Read More

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