Tagged: lawsuit

Price of XRP Rises as Perception Improves of Ongoing Lawsuit Between Ripple and SEC

Back in December of 2020, the Securities and Exchange Commission (SEC) posted a complaint alleging that Ripple engaged in the sale of an unregistered security. The enforcement action included Christian Larsen, the company’s co-founder, executive chairman of its board, and former CEO, and Bradley Garlinghouse,… Read More

BitMEX CEO Arthur Hayes Might Surrender to US Authorities as Exchange Is Facing CFTC Enforcement Action for Illegal Crypto Derivatives Trading

Arthur Hayes, the former CEO of digital currency derivatives exchange BitMEX, is reportedly holding discussions which would involve his surrender to US authorities as early as next month (April 2021). As reported in October of last year, Hayes and several other senior managers at the… Read More

Bancor Lawsuit Tossed: “New York is not a reasonable and convenient place to conduct this litigation”

A New York judge has tossed a lawsuit filed against Bancor, or BProtocol Foundation, that claimed the sale of unregistered securities, according to an Order Granting Motion to Dismiss received by CI. Judge Alvin Hellerstein dismissed the case and the Plaintiff’s offer to re-plead was… Read More

Former SEC Chair Mary Jo White, who’s Now Representing Ripple in SEC Lawsuit, Shares Views on XRP Sale and Court Case

When the US Securities and Exchange Commission (SEC) filed a lawsuit against blockchain-focused Fintech firm Ripple Labs in December 2020, the crypto industry and larger community had reacted with alarm and many were surprised. The SEC’s lawsuit also led to Ripple hiring high-profile legal experts… Read More

US SEC was Reportedly Warned that Investors May Lose Billions due to Enforcement Action Against Ripple, Legal Expert Claims

John E. Deaton, a lawyer focused on the blockchain and cryptocurrency sector (and other societal/legal issues), notes that the US Securities and Exchange Commission (SEC) was warned that investors could potentially lose billions, considering “the magnitude of an SEC enforcement action” against Ripple’s XRP, which… Read More

Ripple Sued by Investor Tetragon Who Wants Money Back, Ripple Says No

Gavel Court Legal Trial Law rawpixel unsplash

Tetragon Financial Group Ltd. (LSE: TFG), a UK based investment firm with $2.35 billion in assets under management, has sued Ripple in Delaware courts, according to a report by Bloomberg. Tetragon apparently had an agreement incorporated in its equity investment with Ripple that if XRP… Read More

Ripple Comments on Recent Market Participant Activity, Plans Response to SEC in a Few Weeks

Ripple, the creator of XRP – one of the largest cryptocurrencies in the world by market cap, has posted a brief comment on “recent market participant activity” following XRPs dive in value. XRP began to sink following the revelation of an enforcement action by the… Read More

MoneyGram Claims it Doesn’t Use Ripple’s ODL Platform or RippleNet, while Galaxy Digital, Jump Trading, Simplex Stop Supporting XRP

MoneyGram International, Inc. (NASDAQ: MGI), a major cross-border P2P payments and money transfers service, has issued a statement after a lawsuit was filed by the US Securities and Exchange Commission (SEC) against Ripple Labs Inc. MoneyGram stated that it had not “been notified or been… Read More

US Federal Trade Commission Files Lawsuit Against Fintech Savings App Beam for Allegedly Mismanaging Customer Deposits

The customers of mobile savings app Beam had been complaining that they were able to deposit funds but couldn’t get their money back out. The Fintech also allegedly failed to live up to promised high interest rates. The Federal Trade Commission (FTC ) alleges that… Read More

Where Did Kik Go Wrong? Former SEC Attorney Discusses Kik Settlement with SEC

    Recently, Kik settled a long legal battle with the Securities and Exchange Commission (SEC). In the end, Kik must pay a $5 million settlement pertaining to an initial coin offering (ICO) that was deemed to be an unregistered security offering. Additionally, for the… Read More

BitMEX Hit by CFTC Enforcement Action for Illegal Crypto Derivatives Trading, AML Violations; Criminal Action Unsealed Simultaneously

BitMEX, a top cryptocurrency exchange that is big in the crypto derivatives sector, is the target of an enforcement action filed by the Commodity Futures Trading Commission (CFTC). According to the CFTC, a civil enforcement action has been filed in the U.S. District Court for… Read More

AML Authorities in Philippines Identify People of Interest Affiliated with Wirecard, Meanwhile Sale of Subsidiaries Show Progress

Wirecard (WDI:DE) and bankruptcy proceedings are inching forward for a Fintech that was once valued in the billions of dollars. Meanwhile, anti-money laundering authorities in the Philippines have uncovered 57 individuals of interest affiliated with the firm, according to a report. Bloomberg states that the Executive… Read More

Crowdfunding Platform YieldStreet Hit by Lawsuit Regarding Investor Losses [u]

Crowdfunding platform YieldStreet has been hit with a filing for class action against the investment platform according to a release distributed by several law firms. YieldStreet caters to sophisticated, accredited investors offering alternative investments such as property, art or marine assets. According to the note,… Read More

FinancialApps Moves Forward with Lawsuit Challenging Envestnet and Subsidiary Yodlee

FinancialApps is suing Envestnet (NYSE:ENV) and subsidiary Yodlee in regards to claims of misappropriation of trade secrets, breach of contract, fraud, and more. FinancialApps is an API platform providing Fintech solutions like lending. Envestnet is a data aggregation and analytics platform for digital financial services… Read More

Cannabis Crypto: Paragon Coin Class Action Lawsuit Poised to Move Forward

Paragon Coin, and its affiliated initial coin offering, is pretty emblematic of the ICO heyday when any token could raise money based largely on a white-paper and effective marketing campaign. While it is hard to accurately discern, Paragon issued the PRG token raising around $12… Read More

Lawsuit Filed Against BitMEX, a Major Cryptocurrency Derivatives Exchange, for Allegedly Engaging in Illegal Activities like Money Laundering, Racketeering

A lawsuit was filed on May 16, 2020, against HDR Global Trading Ltd, the parent company of the Hong Kong-operated Bitcoin Mercantile Exchange (BitMEX), a leading digital currency derivatives exchange that averages billions of dollars worth of daily trading volume. The 106-page lawsuit has also… Read More

Telegram to Hand Over Official Communications, Financial Statements, and Other Info Related to its Allegedly Unlawful ICO to SEC

Encrypted messaging service provider Telegram says it will be handing over official communications, bank records and other relevant information to the US Securities and Exchange Commission (SEC). These details are reportedly being provided as part of an ongoing legal battle against Telegram. US authorities have… Read More

Telegram to Refund Money from GRAM ICO? Perhaps.

Last Thursday, a letter posted on the Russian website of SmartLab said that Telegram will offer GRAM purchasers the option to receive their money back as the deadline for the issuance of the tokens had passed. Telegram has been in an ongoing legal battle with… Read More

Ripple Has Had Enough. Crypto Firm Sues YouTube for Allowing XRP Giveaway Scams

Ripple has been pushed to the edge, according to a blog post today. The crypto-firm is suing YouTube – part of Google. In a document filed in the US District Court, Northern District of California, Ripple Labs, and Bradley Garlinghouse, slammed YouTube for: “irreparable harm… Read More

Lawsuit Filed Against Maker Foundation for Allegedly Misrepresenting Information to Investors, which Led to Over $8 Million in Losses Following ETH Price Crash

A class-action lawsuit has been filed against the Maker Foundation, which supports the ongoing development of MakerDAO, a leading decentralized Ethereum (ETH)-powered lending facility. The suit alleges that the foundation intentionally misrepresented the risks potential investors in the decentralized finance (DeFi) ecosystem could face. The… Read More

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