Rumors have surfaced in recent days that a landmark day in the legal battle between Ripple Labs and the U.S. Securities and Exchange Commission could be coming up on Monday, December 5, or even tomorrow, December 2. At the center of the speculation are the Hinman documents. Ripple has succeeded in forcing the release of
On Dec. 13, 2022, the Southern District of New York (SDNY) prosecutor’s office and SDNY attorney Damian Williams revealed that the FTX co-founder Sam Bankman-Fried has been indicted for “fraud, money Laundering, and campaign finance offenses.” SDNY attorney Williams said that the case was not an issue of “mismanagement or poor oversight” but of “intentional
In the legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), both parties filed their more than 60-page reply briefs for summary judgment late Friday. While it’s now wait and see for a decision from Judge Analisa Torres, Ripple continues to not sit back and calls out the SEC for its
On Dec. 13, 2022, the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Sam Bankman-Fried (SBF), FTX Trading LTD., and Alameda Research. The CFTC alleges that FTX customer deposits, “throughout the relevant period,” including both fiat currencies and cryptocurrencies, were reportedly “appropriated by Alameda for its own use.” U.S. Commodity Futures Trading Commission:
Attorney John E. Deaton, who is representing 75,000 XRP investors in the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), has drawn attention to the biggest danger for Ripple. Deaton warned in a series of tweets that Judge Torres’ decision in the District Court will have a huge impact in practical
Ether (ETH) rallied 6.3% to $1,350 on Dec. 13, mimicking a similar failed attempt that took place on Nov. 10. Despite reaching the highest level in 33 days, the gains were not enough to instill confidence in traders according to two key derivatives metrics. Bulls’ frustrations can partially be explained by Binance exchange facing a
Damian Williams, United States Attorney for the Southern District of New York, said the investigation leading to charges against former FTX CEO Sam Bankman-Fried had been “very, very fast” but prosecutors were “not done” with arrests. In a press conference livestream on Dec. 13, Williams said the timing of the arrest of Bankman-Fried had been
On Monday, court documents from lawyers involved with the FTX Trading LTD Chapter 11 bankruptcy case allege that the government of The Bahamas asked the disgraced FTX co-founder Sam Bankman-Fried (SBF) to mint new crypto tokens. The lawyers detailed that it was a “request for live, dynamic access that would be provided immediately to the
In a recent blog post, cryptocurrency legend and former BitMEX CEO Arthur Hayes mentioned he holds sizable bags of GMX and LOOKS tokens. According to Hayes, his main reasoning for investing in both tokens was their platform revenue and the potential of both assets to outperform standard treasury bills. Let’s take a brief look at
Former FTX CEO Sam Bankman-Fried, also known as SBF, was arrested on Dec 12, a day before he was set to testify before Congress remotely. A copy of his testimony, obtained by Forbes, highlights that the disgraced CEO planned to blame the spectral downfall of his $32 billion empire on everyone but himself. SBF continued the
The court may soon draw the curtain on the long-standing lawsuit legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple. The SEC filed a lawsuit in December 2020. In the initial filing, the commission alleged that the payment company and its executives raised over $1.3 billion through unregistered securities offerings, XRP. In
Though Sam Bankman-Fried could not attend the congressional hearing virtually due to his recent arrest in the Bahamas, United States lawmakers held no punches criticizing the former FTX CEO and business practices at the firm. As the sole witness before a hearing of the U.S. House Financial Services Committee on Dec. 13, FTX CEO John
Following the FTX collapse, the largest cryptocurrency exchange by trade volume, Binance, has been surrounded by rumors and speculation in recent times. On Dec. 12, 2022, Reuters reported that U.S. Department of Justice prosecutors have been investigating Binance, according to four people familiar with the matter. Moreover, while a number of crypto assets have risen
The indictment against Sam Bankman-Fried (SBF) was unsealed Dec. 13. The indictment, signed by U.S. Attorney for the Southern District of New York Damian Williams, is 14 pages long and containe eight counts. The charges listed against SBF in the indictment are: Conspiracy to commit wire fraud on customers, wire fraud on customers, conspiracy to
Sasha Hodder, founder of Hodder Law Firm, has started a discussion among lawyers on Twitter about whether Ripple chiefs Brad Garlinghouse and Chris Larsen face fines in their legal battle with the U.S. Securities and Exchange Commission, and if so, what those fines might be. Hodder wrote in a tweet that if Ripple loses, Larsen
While some gamers are against nonfungible token (NFT) integration for games, a large portion are willing to play if they are given opportunities to earn cryptocurrency, according to a recent survey. In an announcement, fintech firm Zeebedee published the results of a study that surveyed gamers based in the United States to measure their exposure
Authorities in Canada are taking measures to better protect Canadian cryptocurrency investors in the aftermath of the FTX collapse and the spreading contagion. The Canadian Securities Administrators (CSA), the council of Canada’s provincial and territorial securities regulators, on Dec. 13 issued an update to crypto trading platforms operating in the country. The CSA said that
Avalanche rose to a one-week high on Tuesday, as markets reacted to the latest inflation report in the United States. Consumer prices rose to 7.1% in November, which was lower than the 7.3% markets had expected. The figure was also 0.6% lower than October’s reading of 7.7%. Litecoin also rebounded on the data, rising by
Bitcoin (BTC) hit new one-month highs on Dec. 13 as United States inflation data sent a surge of optimism through markets. BTC price rebounds aU.S. inflation slows Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $18,105 on Bitstamp after the Consumer Price Index (CPI) print for November came in below expectations. The readout,
The sudden failure of FTX has left many people questioning the impact this will have on the cryptocurrency ecosystem. For instance, it remains questionable whether or not crypto hotspots will continue to flourish or if there will be a decline in innovation. While it may be too soon to fully understand the impact of the