Bankruptcy Tussle Between Crypto Firms FTX and Genesis Nears Resolution 

The long-standing legal feud between FTX Trading and Genesis Global Holdco is taking a turn towards resolution. The two parties have reached an initial agreement, in principle, following bankruptcy protection disputes that have made industry headlines. An official letter to the bankruptcy judge representing their cases has affirmed the intent of the firms to put [...]

The post Bankruptcy Tussle Between Crypto Firms FTX and Genesis Nears Resolution  appeared first on Crypto Breaking News.

View Details

Former FTX CEO Sam Bankman-Fried Faces New Bribery Charges for Alleged Crypto Payment to Chinese Officials

Sam Bankman-Fried (SBF), the former CEO of FTX, now faces a 13-count indictment as U.S. officials have added new charges. One of the new charges alleges that SBF leveraged $40 million to influence “one or more Chinese government officials.” Details of the Bribery Charges Against Sam Bankman-Fried Sam Bankman-Fried (SBF), the co-founder and former CEO [...]

The post Former FTX CEO Sam Bankman-Fried Faces New Bribery Charges for Alleged Crypto Payment to Chinese Officials appeared first on Crypto Breaking News.

View Details

Terraform Labs CEO Do Kwon Denied Bail by Montenegrin High Court; Extradition Requests Loom

A Montenegrin high court judge has reportedly invalidated the bail application of Do Kwon, the co-founder of Terraform Labs. Kwon was detained for providing false identification while boarding a flight to Dubai alongside a companion on March 23, 2023. Terraform Labs Co-Founder’s Bail Request Invalidated by Montenegrin High Court For the past 62 days, Do [...]

The post Terraform Labs CEO Do Kwon Denied Bail by Montenegrin High Court; Extradition Requests Loom appeared first on Crypto Breaking News.

View Details

Colombia Holds Landmark Virtual Court Trial in Metaverse

Colombia's Magdalena Administrative Court conducted a trial in the metaverse on February 15, with participants appearing as avatars in a virtual courtroom. The trial involved a traffic dispute brought by a regional transport union against the police and lasted two hours. The verdict could also be given in the metaverse. Colombia is one of the first countries to test legal proceedings in the metaverse. (Read More)

View Details

FTX debtors seek subpoenas for inner circle of Sam Bankman-Fried

FTX and affected parties have requested court subpoenas to force Sam Bankman-Fried’s closest advisers to provide documents and information for ongoing investigations.

View Details

Downfall of Canada's Lambo driving ‘Crypto King’ reportedly sees $35M in losses

Founder of fraud recovery law firm says the only other avenue available for investors would be to make reports to the Ontario Securities Commission or the police.

View Details

FTX Seeks Court Approval to Sell $175M Genesis Claim Amid Bankruptcy Proceedings

FTX has filed a motion in Delaware court to sell a $175 million claim against bankrupt Genesis Global Capital, aiming to optimize returns from the sale. The move is part of FTX's broader strategy to manage its financial recovery post-collapse, with the proposed sales procedure designed to ensure maximum value from the claim amidst Genesis's ongoing legal and financial challenges. (Read More)

View Details

The Rescheduling of Changpeng 'CZ' Zhao's Sentencing Reflects Legal Complexities and Implications

Changpeng "CZ" Zhao, founder of Binance, faces a legal hurdle as his money laundering charges are postponed to April 30. The case highlights the ongoing struggle between cryptocurrency entities and regulatory bodies, raising questions about digital asset future. (Read More)

View Details

FTX's Restructuring Plan: Aiming for Full Customer Repayment Without Relaunching Exchange

FTX aims to fully reimburse its customers and creditors as part of its restructuring plan. This approach, focusing on repayment without relaunching the exchange, is based on valuations of assets as of November 2022, drawing mixed reactions from the crypto community. (Read More)

View Details

Tron Founder Justin Sun, Soulja Boy, and Austin Mahone Summoned by SEC in Crypto Asset Case

Court documents reveal that Justin Sun, Tron’s founder, has been sent a summons from the U.S. Securities and Exchange Commission (SEC) regarding the civil complaint filed against him last month. Youtuber Austin Mahone and rapper Soulja Boy, whose real name is DeAndre Cortez Way, have also been summoned. The SEC accuses Sun of orchestrating an [...]

The post Tron Founder Justin Sun, Soulja Boy, and Austin Mahone Summoned by SEC in Crypto Asset Case appeared first on Crypto Breaking News.

View Details

Ex-Alameda exec Trabucco gives up yacht, apartments in FTX settlement

Sam Trabucco left Alameda Research months before the FTX collapse and kept his head down probably on his yacht Soak My Deck.

View Details

Seoul Court Greenlights Seizure of Do Kwon’s Assets Worth $176 Million

According to a local report, South Korean prosecutors have been given the green light by the Criminal Division of the Seoul Southern District Court to seize assets owned by Do Kwon, the co-founder and former CEO of Terraform Labs. The report discloses that a total of 233.3 billion won ($176 million) worth of assets have

The post Seoul Court Greenlights Seizure of Do Kwon’s Assets Worth $176 Million appeared first on BTC Ethereum Crypto Currency Blog.

View Details

SEC Seeks to Appeal Ripple-XRP Ruling — Requests Stay of Proceedings

The U.S. Securities and Exchange Commission (SEC) has sent a letter to District Judge Analisa Torres seeking permission to file an interlocutory appeal in the SEC v. Ripple case over XRP. In addition, the securities regulator’s motion will “seek to stay the district court proceedings.” SEC Seeks to Appeal Ruling in Ripple-XRP Case The U.S. [...]

The post SEC Seeks to Appeal Ripple-XRP Ruling — Requests Stay of Proceedings appeared first on Crypto Breaking News.

View Details

Judge Upholds Confidentiality of FTX Customers’ Identities, Citing Security Concerns

In the FTX bankruptcy case, the presiding judge John Dorsey has ruled to maintain the confidentiality of individual customer identities, according to a recent decision on Friday. Dorsey emphasized the importance of safeguarding these clients, expressing concern for their potential vulnerability to scams. Despite the Media’s Attempt, FTX Customers’ Identities Will Be Shielded From Public [...]

The post Judge Upholds Confidentiality of FTX Customers’ Identities, Citing Security Concerns appeared first on Crypto Breaking News.

View Details

Binance Faces Legal Action by SEC for Violating US Securities Laws

The U.S. Securities and Exchange Commission (SEC) took legal action against Binance, the largest cryptocurrency exchange globally, for violating U.S. securities laws. Gary Gensler, the chairman of the SEC, revealed that Binance is facing thirteen charges related to these violations. Binance Hit With SEC Lawsuit Over Alleged Violations of U.S. Securities Laws faces another lawsuit [...]

The post Binance Faces Legal Action by SEC for Violating US Securities Laws appeared first on Crypto Breaking News.

View Details