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Lawsuit Claims FTX Covertly Utilized Deltec Bank to Generate and Market Tether for Financial Gain
FTX companies have reportedly been implicated in a lawsuit alleging the secret creation and sale of Tether in collaboration with a partner bank, as detailed in a court case covered by Bloomberg on February 17. According to statements made by Caroline Ellison, former CEO of Alameda Research, FTX was able to generate USDT through an…
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Coinbase Prepares for New Lawsuit as Two SEC Commissioners Dissent Following Denial of Petition
Coinbase, one of the leading cryptocurrency exchanges, is reportedly preparing to take legal action against the U.S. Securities and Exchange Commission (SEC) over allegations that the regulatory body has evaded its responsibilities. This move comes in response to the SEC’s refusal to grant Coinbase’s request for the establishment of specific regulatory rules for cryptocurrency transactions,…
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KuCoin Resolves Charges with NYAG, Pays $22M
Cryptocurrency exchange KuCoin has reached a settlement with the New York State Attorney General’s (NYAG) office, agreeing to pay $22 million and cease operations in the state. The settlement comes in response to a lawsuit filed by NYAG Letitia James on March 9, 2023. The lawsuit alleged that KuCoin had violated state law by failing…
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The SEC Notifies Court Richard Heart Lawsuit Has Been Served
Richard Heart, the founder of blockchain projects PulseChain and HEX, has recently been served with a lawsuit by the U.S. Securities and Exchange Commission (SEC) on October 31st. The lawsuit accuses Heart of engaging in fraudulent activities and conducting unregistered securities sales. The SEC provided details of the lawsuit in a filing on December 11th,…
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SEC faces potential sanctions from judge over alleged ‘misleading’ statements in crypto case
U.S. District Judge Robert Shelby has recently issued a stern warning to attorneys from the Securities and Exchange Commission (SEC) about possible sanctions. The warning comes as a result of what the judge called “misleading” statements made during court proceedings in a lawsuit involving cryptocurrency firm Debt Box. According to court filings, the SEC had…