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State Securities Regulators Object to Celsius’ Court Motion to Sell Stablecoins
30.9.2022
As Celsius’ bankruptcy proceedings continue, the court’s trustee William Harrington appointed an examiner on Thursday in order to review the company’s finances, according to a filing submitted on September 29. On the same day, state securities officials from Vermont and Texas...
Bitcoin Miner Marathon Digital’s Shares Downgraded After Compute North Files for Bankruptcy Protection
23.9.2022
Bitcoin mining firm Compute North filed for Chapter 11 bankruptcy protection in Texas on Thursday as the crypto winter continues to put pressure on crypto mining operations. The bankruptcy petition filed on September 22, indicates the company looks to stabilize operations in order to repay...
Bank of Russia, Finance Ministry Agree on Crypto Mining Regulation, Law Expected Soon
22.9.2022
Major government institutions in Moscow, the central bank and the finance ministry, have aligned their positions on the regulation of cryptocurrency mining in the Russian Federation. The respective bill will soon be filed with the State Duma, a high-ranking member of the house unveiled. Financial...
Ford Filed Trademark Applications for NFTs & Virtual Cars
20.9.2022
The largest automaker in the US, Ford, recently surprised the industry by filing 19 trademark applications. The automobile giant followed Sony’s footsteps to enter the metaverse with an NFT marketplace, virtual cars, and more. Like Sony, the news was confirmed by Mike Kondoudis, the intellectual...
Ripple, SEC case heads for conclusion after 'summary judgment' filed
19.9.2022
Ripple argued that XRP profits came from “market forces of supply and demand” rather than any contract between Ripple and XRP token holders
Grayscale Declares Distribution of Rights to Ethereum Proof-of-Work Tokens With SEC
17.9.2022
A Securities and Exchange Commission filing filed on September 16 shows that the company Grayscale Investments has declared “distribution of rights to Ethereum Proof of Work Tokens.” The newly launched ETHW blockchain went live on September 15 and roughly 50-60 terahash per second...
Bitgo Files Lawsuit Against Novogratz’s Galaxy Digital for $100M Over ‘Intentional Breach’ of a Merger Agreement
14.9.2022
According to statements made by the digital asset custody business and financial services provider Bitgo, the firm has filed a lawsuit against the crypto company Galaxy Digital and is seeking damages for more than $100 million. Bitgo says Galaxy’s “improper repudiation and intentional...
Ford Files 19 Trademark Applications Preparing a Possible Metaverse Push
12.9.2022
Leading automotive company Ford has filed 19 trademark applications related to possible metaverse activities. In the documents, the company hints at the potential launch of Ford-branded NFTs (non-fungible tokens) on its own marketplace, and also refers to the offering of virtual models of its cars...
Elon Musk’s $258 Billion Dogecoin Lawsuit Grows as New Defendants, DOGE Investors Join
9.9.2022
The $258 billion lawsuit filed against Elon Musk, Tesla, and Spacex over their dogecoin promotion has expanded with new defendants and DOGE investors added. The plaintiffs allege that the meme cryptocurrency dogecoin is a Ponzi scheme, emphasizing that Musk and his companies “falsely...
Bankrupt Crypto Lender Celsius Seeks to Reopen Withdrawals for Specific Customers
2.9.2022
Celsius Network Ltd., the crypto lender that filed for Chapter 11 bankruptcy protection on July 13, is looking to release roughly $50 million worth of crypto assets to Celsius custody account holders. Reportedly, the Celsius custody accounts did not participate in the earn and borrow program....
Crypto Miners in Russia’s Irkutsk Region Fined Almost $1.7 Million This Year
25.8.2022
Authorities in the energy-rich Russian region of Irkutsk have imposed hefty fines on crypto miners this year for illegal use of electricity to produce digital currencies. Power utilities have also filed hundreds of lawsuits, a report reveals, quoting prosecutors. Irkutsk Crypto Miners Pay...
BitBoy Lost His Lawsuit the Instant He Filed It
24.8.2022
The YouTube cryptocurrency promoter is only drawing attention his pump-and-dump-filled oeuvre, which he'd rather suppress
Celsius Countersues Keyfi Founder, Company Claims Millions Were Stolen From Crypto Lender’s Wallets
24.8.2022
Roughly seven weeks after Keyfi founder Jason Stone filed a lawsuit against the crypto lender Celsius, the company has filed a countersuit against Stone claiming that he stole millions from Celsius wallets and allegedly “pocketed seven-figure returns.” Stone’s attorney Kyle...
German Crypto Exchange Nuri Files for Insolvency
10.8.2022
Cryptocurrency exchange Nuri has filed for insolvency, reportedly becoming Germany’s first fintech to take the step in a challenging year for startups in the industry. Customer access to the platform’s services and their funds will not be affected, the company assured. Crypto Exchange...
Elon Musk Accuses Twitter of Fraud in Countersuit Over $44B Deal — Twitter Subpoenas Binance and Other Firms
7.8.2022
Tesla CEO Elon Musk has accused Twitter of fraud in his countersuit against the social media company. Twitter filed a lawsuit against the billionaire to force him to go through with the $44 billion deal to buy the platform. “The Musk parties bring their counterclaims for breach of contract...
Celsius Clients Beg Bankruptcy Court to Release Crypto, One Customer Needs Funds to ‘Put Food on the Table’
28.7.2022
After the crypto lender Celsius filed for bankruptcy protection on July 13, the company recently contacted customers and explained that an employee from one of the firm’s vendors accessed a list of Celsius client emails, and the email addresses were “transferred to a third...
Tesla Reveals Bitcoin Holdings Worth $222 Million in Latest SEC Filing
26.7.2022
Tesla has revealed that it is still holding bitcoin worth $222 million in market value after selling 75% of its crypto holdings. The company recorded realized gains of $64 million on its recent bitcoin conversion into fiat currency. Tesla Realizes Gains of $64 Million From Bitcoin Sale Tesla Inc....
Celsius has finally filed for bankruptcy: Law Decoded, July 18-25
18.7.2022
A crypto lending platform still hopes to stay afloat, but experts doubt such probability
Report: Equitiesfirst Named as Mystery Debtor to Celsius, $439 Million Owed to Crypto Lender
17.7.2022
Ever since Celsius paused withdrawals on June 12, the company has been the focus of attention due to the lender’s financial hardships. A month later, Celsius filed for bankruptcy in the U.S. by leveraging the Chapter 11 process. Two days after the bankruptcy filing, a report disclosed that...
Celsius Network’s Token CEL Drops 58% After Bankruptcy Filing, So-Called ‘Short Squeeze’ Falters
14.7.2022
During the last 30 days, the Celsius Network’s native token CEL increased in value by over 140% against the U.S. dollar. On July 13, just before the lending company filed for Chapter 11 bankruptcy, CEL was exchanging hands for $0.961 per unit. Following the news that the company filed...