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SEC Charges FTX Auditor for Helping Clients Violate Securities Laws
2.10.2023
The U.S. Securities and Exchange Commission (SEC) announced charges against an accounting firm that worked for failed cryptocurrency exchange FTX. The company, Prager Metis, has been accused of facilitating clients in breaking federal securities laws and also auditor independence violations....
Report: Hacked Nigerian Crypto Exchange Raises Capital for User Reimbursements
1.10.2023
The recently hacked Nigerian gift card and crypto exchange platform Patricia said on Sept. 29 that it had raised money to refund users. Some users have reportedly grown impatient with the crypto exchange and are weighing their legal options. Unilateral Conversion of Users’ Funds The Nigeria...
SEC initiates legal action against FTX's auditor
1.10.2023
The SEC alleges that Prager Metis, an accounting firm engaged by bankrupt crypto exchange FTX in 2021, committed hundreds of violations related to auditor independence
Sam Bankman-Fried Trial: A Colossal Legal Showdown Starts Next Week
30.9.2023
A calendar has been set for the upcoming trial of United States v. Bankman-Fried, with jury selection beginning October 3, 2023. The FTX founder, Sam Bankman-Fried, was denied temporary release from prison but will be allowed to use an “air-gapped,” internet-disabled laptop...
Do Kwon’s Defense Declares SEC’s Deposition Request ‘Impossible’ Amid Ongoing Detention Saga
28.9.2023
The legal team defending Do Kwon, the co-founder and former CEO of Terraform Labs, argues that the U.S. Securities and Exchange Commission (SEC) lacks the capacity to depose Kwon, deeming it an “impossible” feat. Kwon’s legal counsel additionally maintains that the SEC’s bid for a preclusion order...
FTX Bankruptcy Claims Skyrocket as Company Recovers $7.3 Billion in Assets
28.9.2023
According to a Wednesday report by digital assets platform Matrixport, the market value of bankruptcy claims against crypto exchange FTX has more than tripled this year. This comes ahead of the founder and CEO Sam Bankman-Fried's impending criminal trial set to begin next week....
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US Authorities Seize Crypto Linked to Pig-Butchering Scam Held at Binance
28.9.2023
U.S. authorities are seeking to recover cryptocurrencies linked to the popular pig-butchering crypto scam. “Law enforcement was able to trace cryptocurrency involved in the fraud and money laundering to two Binance accounts, where it was seized,” the United States Attorney’s...
CBDC frameworks must guard user privacy, monetary freedom of choice - BIS chief
27.9.2023
BIS general manager Agustín Carstens stresses the importance of legal frameworks that protect CBDC user privacy and maintain monetary freedom of choice
Countries Should Set Up Legal Frameworks to Support CBDCs: BIS Chief
27.9.2023
It is unacceptable that unclear or outdated legal frameworks could hinder their deployment, Agustin Carstens general manager of Bank for International Settlements said
Bankman-Fried’s Lawyers Seek Another Attempt at Temporary Release
27.9.2023
Lawyers for Sam Bankman-Fried are making another attempt to have the disgraced FTX founder temporarily released from jail before his October trial, claiming he needs better access to prepare his defense properly. Lawyers Cite Bankman-Fried’s Indispensable Knowledge for Complex Trial...
Judge Limits Bankman-Fried’s Trial Arguments; Allows Recreational Drug Use Questions
27.9.2023
A federal judge has issued rulings limiting some arguments the defense can make at Sam Bankman-Fried’s criminal fraud trial next month. However, the judge will allow Bankman-Fried’s lawyers to question witnesses about past recreational drug use. Bankman-Fried Can’t Mention Jail...
Bitcoin gains legal recognition as digital currency in Shanghai China
26.9.2023
A similar report from another Chinese court earlier in September recognized cryptocurrencies as virtual properties protected by law
Sam Bankman-Fried's Legal Team Once Again Files for Temporary Release as Trial Approaches
26.9.2023
The defense team representing Sam Bankman-Fried has renewed their plea for his temporary release ahead of the highly anticipated trial.
The request, outlined in a recent court filing, cites challenges faced by Bankman-Fried's attorneys in preparing a defense while their client remains...
BEN Token Plunges 30% as Crypto Influencer Ben Armstrong Apparently Arrested
26.9.2023
Armstrong has had an apparent fallout with his former business partners, several tweets suggest
Former FTX Law Firm Denies Role in Collapse; Challenges Allegations as ‘Fatally Deficient’ in Court Motion
26.9.2023
San Francisco-based law firm Fenwick & West LLP is denying allegations from FTX founder Sam Bankman-Fried that the firm provided legal advice enabling the alleged fraud that led to the cryptocurrency exchange’s collapse. In a recent court filing, Fenwick & West asserts the allegations...
India Struggles to Curb Rising Crypto Frauds, Victims Left in a Legal Abyss Amid Regulatory Ambiguity
25.9.2023
India is currently witnessing an alarming surge in cryptocurrency-related frauds, leaving investors in despair and criminals largely unchecked.
The absence of clear regulations in the cryptocurrency space can largely be attributed to the encouragement of these illicit activities. ...
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Portofino Founders File Motion to Dismiss Lawsuit by Citadel Securities, Claim it was Meant to "Intimidate Other Employees"
25.9.2023
Portofino Technologies, a Swiss-based start-up founded by Alex Casimo and Leonard Lancia, has filed a motion to dismiss a lawsuit brought against them by Citadel Securities.
The motion asserts that Citadel's legal action is an attempt to intimidate other employees and interfere with Portofino's...
FBI Wanted Co-Founder of Crypto Exchange Wex Sentenced in Russia
24.9.2023
Aleksey Bilyuchenko, co-founder of Wex, the successor of the infamous Russian crypto exchange BTC-e, will spend only a couple of years in prison. The Russian, who is charged in the U.S. with money laundering, has been sentenced in his homeland as the only defendant in a case over the collapse...
FTX's former external legal team disputes involvement in fraud allegations
24.9.2023
In a recent court filing, a U.S. law firm that had previously offered services to FTX refutes allegations of assisting Sam Bankman-Fried in his alleged fraudulent activities
Binance Seeks Dismissal of SEC Lawsuit — Claims SEC ‘Distorts’ Securities Laws to Gain Power Over Crypto Industry
23.9.2023
Crypto exchange Binance and its CEO Changpeng Zhao (CZ) have filed a motion to dismiss the lawsuit against them by the U.S. Securities and Exchange Commission (SEC). “It is clear that the SEC’s lawsuit has no foundation in the currently enacted securities laws,” they argued...