Ripple seeks to block SEC expert evidence in court
Ripple has made a motion to bar into evidence new expert resources that the SEC claims to have. These refer to Magistrate Judge Sarah Netburn. This request was directed to Magistrate Sarah Netburn. The timing of events is damaging Ripple’s effective response mechanism. The materials in question here are the SEC remedies brief, which is […]
Pro-Ripple attorney: No settlement talks without fair terms
Ripple Labs has filed a resistance brief that is accompanied by supporting declarations and exhibits in compliance with the United States Securities and Exchange Commission’s (SEC) remedies-related brief. The result of this should be crucial as it will definitely create a difference in the situation between Ripple and the SEC, which might affect the price […]
Nigerian tax evasion hearing for Binance pushed to May
The criminal case of cryptocurrency exchange Binance and two of its main employees will be adjourned to May 17. The Nigerian court initiated this postponement because Binance had not been served formal charges. The trial, however, was undertaken in response to the tax evasion accusations leveled against the defendant by the Federal Inland Revenue Service […]
Ripple vs. SEC legal battle spurs settlement speculation
The Ripple Labs case with the U.S. Securities and Exchange Commission (SEC) has recently burst into litigation over plausible crypto-related issues. Recent developments have brought people again to this topic of creating a possible settlement. A crucial court filing on March 29 revealed that Ripple and the SEC had been to a meeting for settlement. […]
Ripple’s strategic XRP release fuels rumors of SEC settlement
Ripple has unlocked 500 million XRP from escrow in two transactions. The first transaction brought 200 million XRP sold for around 123.63 million dollars, and the second one created another 200 million XRP that cost approximately 183.89 million dollars. But this one is odd since Ripple usually arranges them for the first day of any […]
ACE exchange distances itself after founder’s fraud indictment
ACE Exchange founder David Pan, together with 6 other defendants, are taken into custody by Taiwanese authorities on charges of fraudulent behavior and using illegitimate money to fund their secret projects. The process by which the defrauders were said to have removed almost $10.7 million from unsuspecting buyers. Suspects announced their version on Monday, which […]
Coinbase hit with revived lawsuit over unregistered digital assets
The 2nd US Circuit Court of Appeals allowed the class action suit against Coinbase to continue. In this complaint, the cryptocurrency exchange is being sued for selling or soliciting 79 digital assets that have not registered with the US Securities and Exchange Commission (SEC). However, the designated court confirmed Judge Paul A. Engelmayer’s initial arrest […]
Binance and SEC close to settlement after discovery phase
The legal battle between the U.S. Securities and Exchange Commission (SEC), Binance (and its American arm), and its founder, Changpeng “CZ” Zhao, is about to enter a critical region. Both sides on the defensive are closing in on the discovery and depositions stage. This joint report that they submitted to the court today indicates that […]
Terraform Labs faces accusations by ex-communications head
Brian Curran, Terraform Labs‘ former head of communications, provided a compelling testimony in a New York City federal court. He detailed his challenging experiences at the company, which led to significant frustration and anger. Curran’s account sheds light on the deceptive practices he encountered, specifically an incident in May 2021. This event involved issuing a […]
SEC and Empower Oversight settle major crypto lawsuit
A major lawsuit has been settled between the U.S. Securities and Exchange Commission (SEC) and the government watchdog, Empower Oversight. According to Law360, this development puts an end to a bitter litigation fight that revolved around possible conflicts of interest in the SEC’s cryptocurrency enforcement actions. The settlement of these proceedings has sparked conversations within […]
Ripple CTO David Schwartz criticizes Elon Musk as judge dismisses X lawsuit
Judge Charles Breyer dismissed a lawsuit filed by X, the social media platform formerly known as Twitter, against the Center for Countering Digital Hate (CCHD). X, under the leadership of Elon Musk, accused CCHD of driving advertisers away through a campaign that highlighted an increase in hate speech posts on X. The company sought damages […]
Binance executive flees custody in Nigeria amid charges
Nadeem Anjarwalla, a high-ranking executive at cryptocurrency exchange Binance, has reportedly escaped from custody in Nigeria. He and his colleague, Tigran Gambaryan, found themselves in legal turmoil, accused of tax evasion among other charges. Despite the expiry of their detention order, Anjarwalla remains unaccounted for. The escape happened from a guest house in Abuja, raising […]
Ripple vs. SEC: Sealed documents set for public viewing
In the ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs, significant developments have occurred. The SEC has filed its opening remedies brief along with supporting documents, albeit under seal. These developments come as the latest in a series of legal moves that have captivated the attention of the cryptocurrency […]
Silvergate to face lawsuit over alleged FTX exchange fraud
In a significant development within the cryptocurrency banking sector, Silvergate Bank is set to face a class-action lawsuit. This follows allegations from FTX users that the bank played a role in facilitating fraud at the exchange and its affiliate, Alameda Research. The lawsuit received a boost when, on March 20, a federal court in San […]
Sam Bankman-Fried lawyers decry ‘medieval’ sentence proposal
United States prosecutors have recommended a maximum sentence of 50 years in prison for former FTX CEO Sam Bankman-Fried, who was convicted on fraud and money laundering charges in November 2023. This sentencing proposal has sparked controversy, with Bankman-Fried’s lawyers condemning it as reminiscent of a “medieval view of punishment.” In a response to the […]
Ripple-SEC agreement sets course for transparent XRP lawsuit progress
In the ongoing legal battle between Ripple Labs Inc. and the U.S. Securities and Exchange Commission (SEC) over the status of XRP, both parties have recently submitted a joint sealing proposal to the United States District Court for the Southern District of New York. Structured timeline in Ripple-SEC legal battle This proposal outlines a structured […]
Court limits SEC use of new cases in Binance crypto battle
The US District Court Judge, Amy Berman Jackson, issued an order limiting the U.S. Securities and Exchange Commission (SEC)’s ability to leverage supplemental authority in ongoing litigation involving the crypto exchange Binance. The directive, dated March 11, signifies a significant turn in the legal proceedings, as it directly addresses the SEC’s strategy of citing additional […]
Binance uses Ripple ruling to dispute SEC’s Wahi precedent
Binance, Binance.US, and co-founder Changpeng “CZ” Zhao have filed a joint response to the U.S. Securities and Exchange Commission (SEC). They argue against the SEC’s reliance on a default judgment in the Coinbase insider trading case, SEC v. Wahi, as a precedent in their ongoing lawsuit. The response, submitted on March 8, highlights the unique […]
Binance.US struggles amid SEC lawsuit and banking hurdles
In a recent development that has significantly impacted Binance.US, the United States Securities and Exchange Commission’s (SEC) lawsuit filed in June has led to severe operational challenges for the cryptocurrency exchange. According to Christopher Blodgett, the Chief Operating Officer of Binance.US, during a deposition shared in a court filing on March 5, the legal action […]
Terraform Labs defends legal spending against SEC claims
Terraform Labs and its founder, Do Kwon, find themselves embroiled in a legal confrontation with the United States Securities and Exchange Commission (SEC). The regulatory body has sued the company over the catastrophic collapse of Terra in May 2022, alleging misuse of funds that were ostensibly allocated for legal defenses. According to the SEC, a […]
OpenAI Accuses NYT of “Hacking” ChatGPT to Fabricate Evidence
OpenAI has claimed that the New York Times hacked ChatGPT to obtain misleading evidence to back its ongoing copyright lawsuit. Both companies have been in a legal tussle since December 2023. The Times accused OpenAI and Microsoft, which owns 49% of the AI company, of using millions of the newspaper’s articles to train the AI […]
Sam Bankman-Fried aims for reduced sentence amid fraud conviction
In a recent development within the high-profile case of Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, a plea for leniency has been submitted to the US District Court. Marc Mukasey, the attorney representing Sam Bankman-Fried, addressed US District Judge Lewis Kaplan, advocating for a significantly reduced prison sentence for his client. Facing […]
Expert predicts Ripple vs. SEC case judgment timeline
In a significant update concerning the legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs, Ashley Prosper, a well-regarded member of the XRP community, has provided clarity on the expected timeline for the case’s progression and eventual resolution. Prosper’s insights come at a crucial juncture as stakeholders within the cryptocurrency sector […]
Binance settlement monitoring: Sullivan & Cromwell takes the lead
In the aftermath of Binance Holdings Ltd.’s historic $4.3 billion settlement with US authorities, Sullivan & Cromwell, a prominent law firm based in New York, is poised to take on the role of independent monitor. This appointment follows intense scrutiny surrounding Binance’s compliance with anti-money laundering (AML) and sanctions regulations. Sources familiar with the matter […]
Genesis to return assets after NY settlement on crypto Earn
Genesis Global, a bankrupt cryptocurrency lender, has settled with New York Attorney General Letitia James concerning its defunct Earn program. The agreement, announced on Thursday, resolves a lawsuit by James, which accused Genesis and its partners, including Gemini Trust and parent company Digital Currency Group (DCG), of causing significant financial losses to investors through the […]
Can Copyright Law Destroy ChatGPT? Insights from the New York Times Lawsuit
In a groundbreaking legal battle, The New York Times has taken a bold step by filing a lawsuit against OpenAI, alleging willful copyright infringement through its advanced AI model, ChatGPT. The crux of the matter lies in the Times’ demand for the destruction of ChatGPT, setting the stage for a potential landmark decision with far-reaching […]
OpenAI Engages in Content Licensing Talks with CNN, Fox, Time Amidst Ongoing Lawsuit with New York Times
In a dynamic development within the ever-evolving realm of artificial intelligence, OpenAI, the creator of the widely known AI chatbot ChatGPT, finds itself entangled in negotiations with major media giants CNN, Fox Corp., and Time. The talks, aimed at securing content licenses, unfold against the backdrop of a legal clash with the New York Times, […]
The New York Times Unleashes Legal Fury – Suing OpenAI and Microsoft for Copyright Infringement
In a legal clash that could reshape the landscape of artificial intelligence and its integration with news dissemination, the New York Times Company has taken legal action against OpenAI’s ChatGPT and Microsoft’s Bing Chat. The Times alleges not only widespread copyright infringement but also the propagation of inaccurate information attributed to the esteemed news organization. […]
OpenAI and Microsoft on Trial – Is the Clash with The NYT a Turning Point for AI Ethics?
In a legal clash that could redefine the boundaries of artificial intelligence and intellectual property, The New York Times has initiated a landmark lawsuit against tech giants Microsoft and OpenAI. The crux of the matter lies in the alleged unauthorized utilization of substantial amounts of The New York Times’ content for the training of AI […]
Do Kwon faces SEC lawsuit with new protective order issued
Do Kwon, the co-founder of Terraform Labs, faces a significant legal challenge as the U.S. Securities and Exchange Commission (SEC) continues its lawsuit against him and his company. In a recent development, Judge Jed Rakoff of the Southern District of New York has signed a protective order to maintain confidentiality throughout the pre-trial phase of […]
FTX fallout engulfs Mercedes F1 and MLB in new lawsuit
In a significant development in the ongoing legal saga surrounding the defunct cryptocurrency exchange FTX, a new lawsuit has been filed implicating major sports entities. The Mercedes-AMG Petronas Formula One Team and Major League Baseball (MLB) face allegations of complicity in what is described as a multi-billion-dollar fraud orchestrated by FTX. This lawsuit, filed on […]
Legal Experts Offer Insights as Ripple Faces Crucial Settlement Talks with SEC
In a recent legal development, Ripple has made a significant stride in its ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC). Judge Analisa Torres ruled that XRP sales to individual customers did not constitute securities transactions. This decision marks a pivotal moment in Ripple’s multi-year legal battle, which has incurred over $100 million […]
SEC Commissioner Peirce’s Dissent sparks debate and support in crypto community
Stuart Alderoty, the Chief Legal Officer of Ripple Labs, has expressed his support for United States Securities Exchange Commission (SEC) Commissioner Hester Peirce’s stance against perceived injustices in the LBRY lawsuit. In a recent statement, Alderoty thanked Commissioner Peirce and suggested the possibility of submitting an amicus brief to address ongoing injustices in non-fraud cases. […]
How Do Artists Tackle the Confluence of AI and Copyright?
In a groundbreaking legal development, a class action lawsuit titled Andersen v. Stability AI has ignited a heated debate over the intersection of artificial intelligence (AI) and copyright infringement. Three artists have come together to challenge the actions of AI products that generate images, accusing them of both copying and pilfering copyrighted material. This lawsuit […]
Ripple’s legal team and SEC engage in war of words over lawsuit tactics
Stuart Alderoty, Ripple’s Chief Legal Officer, has labeled the U.S. Securities and Exchange Commission’s (SEC) latest court filing as a “hypocritical pivot,” escalating tensions in the ongoing legal battle between the two entities. Alderoty took to social media to criticize the SEC’s recent submission, which aimed to reinforce its interlocutory appeal. He pointed out what […]
Elon Musk requests to end $258b Dogecoin lawsuit
In a surprising turn of events, billionaire entrepreneur Elon Musk has requested the dismissal of a $258 billion lawsuit tied to Dogecoin. According to reports, the lawsuit was filed by investors who alleged that Elon Musk operated a pyramid scheme to promote Dogecoin. On Friday, Musk and his legal representatives asked a United States judge […]
