Author: Cointelegraph by Helen Partz
United States Source: Cointelegraph.com News
Sep 28, 2024 12:00
OpenAIs move to for-profit: Is it indeed illegal?
OpenAIs potential transformation into a for-profit corporation is not impossible, but it will likely not be an easy process.
View DetailsAuthor: Cointelegraph by Tristan Greene
United States Source: Cointelegraph.com News
Sep 25, 2024 12:00
DOJ sues Visa over alleged payments monopoly
The suit alleges that Visa purposely made it difficult for competitors to participate in the payments market.
View DetailsAuthor: Cointelegraph by Martin Young
United States Source: Cointelegraph.com News
Sep 25, 2024 12:00
Court questions SECs vacuous denial of Coinbase rulemaking petition
In 2022, Coinbase asked the SEC to propose and adopt rules to govern crypto, including clarification of which crypto assets are securities.
View DetailsAuthor: Arslan Tabish
Estonia Source: TronWeekly
Sep 14, 2024 02:30
Circle Faces Lawsuit Over $1 Million USDC Lost To Incorrect Wallet Address
Circle, the company behind the stablecoin USDC, has been sued by pharmaceutical company CelaCare after its CEO transferred $1 million worth of USDC to the wrong Ethereum address on July 3, 2024. The money has been lost forever in the incident and now, CelaCare is seeking for the reimbursement of the lost amount from Circle. […]
View DetailsHong Kong Source: Blockchain News
Sep 12, 2024 02:15
Atomic Wallet Prevails in $100 Million Hack Lawsuit Dismissal
Atomic Wallet has won a dismissal in a $100 million class-action lawsuit related to a hack, citing lack of jurisdiction over the Estonia-based company. (Read More)
Author: NewsBTC
United Kingdom Source: Crypto Breaking News
Aug 09, 2024 05:50
Analyst Mega Bullish On XRP, Foresees Potential ETF And Price Range Between $16-$20
In a significant legal victory for Ripple Labs, Judge Analisa Torres recently ruled in favor of the company in its prolonged legal battle against the US Securities and Exchange Commission (SEC), ordering a payment of $125 million to the regulator. The ruling also clarified that XRP, the cryptocurrency at the center of the case, is [...]
View DetailsAuthor: Cointelegraph by Amaka Nwaokocha
United States Source: Cointelegraph.com News
Aug 10, 2024 12:00
Nigerian activist battles for Bitcoin rights in major legal challenge
The outcome of the case could have significant implications for the future of cryptocurrency in Nigeria.
View DetailsAuthor: Cointelegraph by Tristan Greene
United States Source: Cointelegraph.com News
Aug 09, 2024 12:00
X halts ads for Premium+ users as Musk lawsuit challenges First Amendment
Musk may finally be acknowledging the sun has set on Xs ad sales, but he isnt going quietly into that good night.
View DetailsAuthor: Ronaldo Marquez
United Kingdom Source: NewsBTC
Aug 08, 2024 12:05
BREAKING: XRP Price Rallies 27% As Ripple Secures Major Win In SEC Lawsuit
In just one hour, the XRP price rallied 27% to a one-week high of $0.6406 on Wednesday after Judge Analisa Torres ordered Ripple Labs to pay only $125 million of the $2 billion fine sought by the US Securities and Exchange Commission (SEC) against the blockchain payments company after a four-year legal battle. Ripple’s Legal Victory In the ruling, the court, applying a test derived from the Supreme Court, determined that Ripple’s Institutional Sales constituted offers or sales of investment contracts. However, the Court differentiated Ripple’s Programmatic Sales and Other Distributions, finding that they did not fall into this category. Additionally, the Court clarified that the individual sales conducted by Ripple co-founders Chris Larsen and Brad Garlinghouse did not qualify as offers or sales of investment contracts for reasons akin to those outlined for Ripple’s Programmatic Sales. Related Reading: Bitcoin Funding Rates Turn Negative: Shorts Turn To Get Squeezed? When deliberating on the penalty, the Court concluded that a first-tier penalty was fitting in this instance, noting the absence of allegations related to fraud, deceit, or manipulation, along with the lack of established deliberate or reckless disregard for regulatory requirements. Moreover, the Court noted that the SEC had not proven that Ripple’s failure to register the Institutional Sales resulted in significant losses or risks to investors. Consequently, the SEC’s motion for remedies and the entry of final judgment were partially granted and partially denied. The Court’s decision mandates an injunction against Ripple to prevent future securities law violations and imposes a civil penalty amounting exactly to $125,035,150. In this regard, Ripple CEO Brad Garlinghouse stated that the court reduced the $2 billion penalty sought by the SEC by 94%, recognizing that the SEC had “overplayed their hand”. Garlinghouse further stated, This is a victory for Ripple, the industry and the rule of law. The SECs headwinds against the whole of the XRP community are gone. XRP Price Predictions Point To Mega Bull Run With XRP not considered a security by the court, the tokens price saw one of its best rallies of the year in a matter of hours, surpassing Monday’s pre-market crash price resulting from global economic uncertainty. Related Reading: Analyst Says Bitcoin Bottom Is Not In, Will Price Crash Below $50,000 Again? Further demonstrating the bullishness of this development, crypto analyst CrediBULL contends that now that Ripple secured this win, the stage is now set for an inevitable mega run for the XRP price. Another analyst under the pseudonym “360 Trader” on social media platform X, also claimed that now the XRP’s “chains are off,” arguing that the XRP price will fly this cycle with a target ranging between $4 and $8. Featured image from DALL-E, chart from TradingView.com
View DetailsAuthor: Cointelegraph by Tristan Greene
United States Source: Cointelegraph.com News
Aug 08, 2024 12:00
EU watchdog sues Elon Musks X over alleged AI data violations
As recently as July 25, the DPC seemed to believe the matter would be resolved without court actions.
View DetailsAuthor: Cointelegraph by Ezra Reguerra
United States Source: Cointelegraph.com News
Aug 07, 2024 12:00
Coffeezilla says groundless Logan Paul lawsuit aims to crush new investigations
Coffeezilla believes the lawsuit aims to crush new investigations while taking revenge for the old ones.
View DetailsAuthor: Cointelegraph by Savannah Fortis
United States Source: Cointelegraph.com News
Aug 27, 2024 12:00
Telegram CEO Pavel Durov arrested in France: Law Decoded
The Telegram founders unexpected arrest marks a significant development in the ongoing scrutiny of tech leaders amid growing legal challenges facing the crypto industry.
View DetailsAuthor: Cointelegraph by Derek Andersen
United States Source: Cointelegraph.com News
Aug 24, 2024 12:00
Crypto advocates file brief against SEC's investor tracking database
The Consolidated Audit Trail would gather a monumental amount of data, and more than it is meant to when it exposes the identity of crypto wallet holders.
View DetailsAuthor: Cointelegraph by Alex O’Donnell
United States Source: Cointelegraph.com News
Aug 24, 2024 12:00
Court denies Krakens motion to dismiss SEC lawsuit
The SEC alleges Kraken is operating an unregistered securities exchange.
View DetailsAuthor: Cointelegraph by Ezra Reguerra
United States Source: Cointelegraph.com News
Aug 22, 2024 12:00
$24M CryptoPunk NFT quietly sold, Trump earned over $7M from NFTs: Nifty Newsletter
The most expensive CryptoPunk ever purchased was transferred for an undisclosed amount on Aug. 19, causing speculation about its sale price.
View DetailsAuthor: Cointelegraph by Derek Andersen
United States Source: Cointelegraph.com News
Aug 21, 2024 12:00
Authors file copyright lawsuit against Anthropic for AI model training
The latest in a series of cases concerning copyright and AI looks at the sources Anthropic used to train its Claude large language models.
View DetailsAuthor: Jake Simmons
United Kingdom Source: NewsBTC
Aug 03, 2024 12:05
Why XRP Price Wont Skyrocket After Ripple-SEC Ruling: Crypto Pundit
As the XRP lawsuit between Ripple Labs and the US Securities and Exchange Commission (SEC) inches closer to a ruling on remedies – the final ruling on district court level – the crypto community is abuzz with speculation about the potential repercussions for the XRP price. Notably, Rachelle Renee, a popular crypto pundit, has voiced a dissenting perspective via X, arguing that the forthcoming Ripple-SEC ruling will not significantly impact the price of XRP, contrary to the expectations of many investors. How Will The XRP Price React? Renee’s analysis starts with a sobering view on the nature of the legal resolution itself, which will penalize Ripple. It is simply the details on how Ripple will be punished for the few minor indiscretions committed, Renee explained. She expressed skepticism about the potential for this legal closure to serve as a catalyst for a substantial price increase of XRP. According to Renee, the pivotal moment for a possible price surge was when regulatory clarity was initially provided by Judge Torres in July last year, a milestone that has already been passed without a long lasting effect. The point at which clarity was decided would have been the time to see it move upward in a big way. It did not, Renee stated. Related Reading: XRP Price Breaks Out Of 6-Year Triangle, But Is A Rally To $1 Possible? She further elucidated that institutional investors, who might be considered a primary driver for such a surge, only required confirmation that it was legally permissible to buy, hold, and utilize XRP. This clearance has already been granted. Therefore, the details of how Ripple might be reprimanded for early sales of XRP are unlikely to sway their investment strategies: Institutions only needed to hear it was legal now to buy, hold and use. That happened. They do not need to hear or if #ripple will be punished for a few early sales of XRP. Renee concluded, I hate to be the one to say it. But I do not think the final Ripple/SEC/Torres event will do anything for the price of XRP. The institutions that might drive a significant price increase already know it’s legal to engage with XRP, and the specifics of Ripple’s punishment are unlikely to influence their decisions further. She further conceded that while a minor uptick in the XRP price could occur following the resolution, she firmly believes that “this will not be the moon shot” many are hoping for. Instead, Renee suggested that significant market movements for XRP would more likely result from new developments that demonstrate XRP’s utility and adoption by major global players, such as banks and financial institutions. Related Reading: XRP Goes To All-Time High If This Resistance Breaks: Crypto Analyst Contrasting with Renee’s tempered expectations, Bas van Gestel, another voice from the XRP community, presented a more bullish outlook. Van Gestel argued that the end of the Ripple-SEC case would catalyze a major surge in XRPs price due to enhanced regulatory clarity attracting more investors, institutional adoption by major banks, and global partnerships that would broaden the currency’s use cases. Responding to van Gestel’s optimism, Renee reiterated her point that much of what was anticipated to drive a price surge has already occurred, with regulatory clarity being established over a year ago. She posed critical questions about the timing of the institutional adoption and significant global announcements that van Gestel cited as catalysts, suggesting that while these developments are possible and could be impactful, they have yet to materialize in a way that affects the XRP price meaningfully. Since regulatory clarity was provided over a year ago, why have we not seen big announcements. I am a believer these announcements will come. But not as part of the final Torres case close, Renee claims. At press time, XRP traded at $0.5632. Featured image created with DALL·E, chart from TradingView.com
View DetailsAuthor: Cointelegraph by Derek Andersen
United States Source: Cointelegraph.com News
Aug 13, 2024 12:00
DEF buys patent to stop lawsuits against MakerDAO and Compound
The patent for oracle-like data storage contained technology that was already in existence, DEF said.
View DetailsAuthor: Scott Matherson
United Kingdom Source: NewsBTC
Aug 12, 2024 12:05
Celsius Takes Legal Action Against Tether In $2.4 Bitcoin Collateral Controversy
Bankrupt crypto lender Celsius Network has initiated legal proceedings against Tether, the company behind the USDT stablecoin. The lawsuit, which was filed concerning a contract dispute dating back to 2022, alleges that Tether violated their agreement by unjustifiably liquidating 39,542.42 Bitcoins that were held as collateral for a loan issued in USDT. Celsius contends that Tether’s decision to sell the Bitcoin at that time was improper and a breach of the loan agreement. Celsius Files Lawsuit Against Tether Celsius Network’s disparity with Tether kicked off with a Bitcoin crash in 2022 and ultimately contributed to the crypto lender filing for bankruptcy in July 2022. The legal dispute centers around a revised agreement made in January 2022, which permitted Celsius to borrow USDT from Tether by securing the loan with collateral in Ether, Tether Gold, or Bitcoin. Related Reading: Cardano Eyes $0.3389: Can Bulls Sustain ADA Above This Critical Level? At the height of its borrowing, Celsius had secured nearly $2 billion in USDT from Tether, using tens of thousands of Bitcoins as collateral. As per the new agreement, Tether would be required to post a notice and wait for 10 hours if the value of the collateral were to fall below a specific threshold. However, Bitcoin’s crash in early 2022 meant the value of the Bitcoin collateral held by Tether tanked in tandem. As such, Tether required Celsius to post more collateral, a demand which it complied with by transferring 15,658.21 Bitcoin and another 2,228.01 Bitcoin of excess collateral for another loan. The complaint alleges that on June 13, 2022, Tether issued another demand for additional collateral. Contrary to the agreement’s requirement to wait for ten hours, Tether reportedly proceeded to liquidate the entire Bitcoin collateral without allowing Celsius the stipulated period to address the demand. Tether forged ahead with an improper application of 39,542.42 Bitcointhe entirety of collateral that Celsius had postedusing the pledged Bitcoin to cover its exposure in full, but destroying Celsiuss residual interest in the collateral, the lawsuit read. Lawsuit Is Baseless, Tether Says Back then, the 39,542 BTC collateral for which Celsius is seeking a refund was worth around $800 million. However, the value of Bitcoin has grown since then, and the collateral is now worth more than $2 billion at today’s prices. In response, Tether addressed the lawsuit as baseless. The stablecoin company also confirmed Celsius Network’s $2.4 billion BTC claim, albeit while describing it as another “shameless litigation money grab” to which it will never succumb. Related Reading: Bitcoin Death Cross Threatens To Trigger Crash If Price Does Not Hold $62,000 Moreover, the lawsuit also demands the return of an additional 15,658.21 Bitcoins and 2,228.01 Bitcoins from a top-up transfer, bringing the total claimed value to over $3.5 billion at todays Bitcoin prices. In other news, Tether’s USDT recently crossed a new milestone of a $115 billion market cap. Featured image from WSJ, chart from TradingView
View DetailsAuthor: Cointelegraph by Tristan Greene
United States Source: Cointelegraph.com News
Aug 11, 2024 12:00
Celsius sues Tether seeking $3.5B over Bitcoin collateral selloff
The assets in question were evidently given to Tether as collateral.
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