Roaring Kitty faces securities fraud claims in doomed GME lawsuit
Keith Gill is facing a new class-action lawsuit for his recent social media posts. However, a lawyer says the case is likely doomed to fail.
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Keith Gill is facing a new class-action lawsuit for his recent social media posts. However, a lawyer says the case is likely doomed to fail.
The world’s largest crypto exchange by trade volume, Binance Holdings Ltd., has been sued by the U.S. Commodity Futures Trading Commission. Binance CEO Changpeng Zhao has been named in the lawsuit and the charges claim the crypto exchange broke several trading and derivatives rules. The lawsuit also names Binance’s former chief compliance officer, Samuel Lim, [...]
The post Binance Sued by CFTC for Alleged Violations of Trading and Derivatives Rules appeared first on Crypto Breaking News.
After a torrid 2022 that saw it sell off its flagship mining facility, Argo Blockchain's woes are worsening after a recent class action suit.
MicroStrategy Incorporated (NASDAQ: MSTR) is down 7.0% on Thursday after Michael Saylor – its current executive chairman was sued for tax fraud.
Details of the lawsuitKarl Racine (Attorney General for the District of Columbia) accused Saylor in a lawsuit filed yesterday of living in D.C. but fraudulently claiming to be a resident of Florida to evade $25 million in taxes.
He also named MicroStrategy a defendant for “conspiring” to help its co-founder escape his tax obligations to the District of Columbia. Responding to the lawsuit, the cloud company said:
MicroStrategy was not responsible for Saylor’s day-to-day affairs and did not oversee his individual tax responsibilities. D.C.’s claims are false and we’ll defend aggressively against this overreach.
The lawsuit that arrives a month after Saylor stepped down as the chief executive of the Nasdaq-listed firm seeks to recover more than $100 million in unpaid taxes and fines.
What it means for Bitcoin?“MSTR” is now down more than 60% versus the start of the year.
The stock market news is negatively affecting the price of Bitcoin as well on fears that Saylor/MicroStrategy may have to trim “BTC” holdings to deal with the penalty. But Marcus Sotiriou – Analyst at GlobalBlock says:
Whatever the outcome, I think investors are likely overreacting to this story and MicroStrategy will not end up having to trim their Bitcoin position. But if they do, this will lead to an appealing buying opportunity in my opinion.
In August, the Virginia-based company reported about a billion-dollar loss for its fiscal second quarter. Bitcoin is back below the $20,000 level on Thursday.
The post D.C. sued this ‘bitcoin bull’ for tax fraud appeared first on Invezz.
Bitcoin’s public and immutable nature necessitates the return of mixnets to achieve true network-level privacy.
While the UAE central bank has given a significant regulatory nod to a new stablecoin, an FTX customer sued hedge fund Olympus Peak over its alleged profits from the exchanges meltdown.
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