Judge Denies Bail for Bitcoin Rodney, Citing Flight Risk and Fraud Severity

July 10, 2024 Bitcoin.com

Bail

Rodney Burton, known as “Bitcoin Rodney,” will remain in detention awaiting trial on charges of masterminding a multi-billion-dollar cryptocurrency fraud. Arrested in January at Miami International Airport, Burton faces accusations of conspiracy to operate an unlicensed money-transmitting business and the actual operation of such a business. U.S. District Judge Richard Bennett denied Burton’s bail request […]

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UK High Court Grants Worldwide Freezing Order Against Craig Wright

July 6, 2024 Bitcoin.com

bitcoin.com

The UK High Court has granted a Worldwide Freezing Order (WFO) against Craig Wright, amounting to £1.548 million (approximately $1.98 million). This decision stems from Peter McCormack’s application, which argued for the necessity of the WFO due to Wright’s fundamentally fraudulent defamation claim. Wright had asserted he was Satoshi Nakamoto, Bitcoin’s creator, and sought damages […]

China Unearths Massive Gold Veins That Could Reshape Global Markets

CFTC Wins Case Against Crypto Fund Operators

July 4, 2024 Bitcoin.com

bitcoin.com

The U.S. Commodity Futures Trading Commission (CFTC) filed a case against Sam Ikkurty, Ravishankar Avadhanam, and Jafia LLC for civil violations of the Commodity Exchange Act (CEA), specifically involving cryptocurrency investments. The court granted the CFTC’s motion for summary judgment on Monday, finding that the defendants misrepresented the performance of their crypto funds, operated a […]

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SEC’s Case Against Binance Moves Forward With Major Allegations Intact

June 29, 2024 Bitcoin.com

BAM

The U.S. District Court for the District of Columbia has issued an order in the SEC’s case against Binance and its founder Changpeng Zhao. The court allowed most claims to proceed, including those related to unregistered crypto sales and fraudulent practices, while dismissing some claims related to BUSD and secondary BNB sales. Some Charges Against […]

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SEC Now Demands $102.6 Million Penalty From Ripple in XRP Case

June 16, 2024 Bitcoin.com

SEC Now Demands 2.6 Million Penalty From Ripple in XRP Case

bitcoin.com

The U.S. Securities and Exchange Commission (SEC) is now pursuing a $102.6 million penalty from Ripple, a substantial reduction from the nearly $2 billion originally sought. Ripple recently proposed a $10 million penalty, citing the Terraform Labs settlement as justification. However, the SEC countered that such a low penalty “would not satisfy the purposes of […]

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Court Strikes Down SEC’s Private Fund Regulation, Citing Overreach

June 6, 2024 Bitcoin.com

Bitcoin

The U.S. Securities and Exchange Commission (SEC) has lost another court case. On June 5, the 5th U.S. Circuit Court of Appeals overturned the SEC’s Private Fund Adviser rule, which was designed to enhance transparency within the nearly $27 trillion private fund industry. The court found that the SEC had overstepped its statutory limits by […]

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Kraken Challenges SEC Overreach in Recent Court Filing

May 12, 2024 Bitcoin.com

bitcoin.com

In a recent motion to dismiss a case brought by the Securities and Exchange Commission (SEC), cryptocurrency exchange Kraken argued that the SEC’s legal theory misinterprets crucial aspects of the case. The court document, dated May 9, 2024, claims the SEC fails to identify legitimate investment contracts involved in the transactions on Kraken’s platform. Kraken […]

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Former FTX exec Ryan Salame to give up $5.9M Bahamas property

May 3, 2024 Coin Telegraph

bahamas

Salame proposes to satisfy the debtors by transferring a residence he owns to FTX Digital Markets Ltd.

The former co-chief executive of FTX Digital Markets, Ryan Salame, has agreed to transfer his multimillion-dollar property in the Bahamas as part of his plea agreement in a criminal case.

According to a motion from FTX Trading Ltd and affiliated debtors filed with the United States Bankruptcy Court for the District of Delaware on May 1, Ryan Salame has agreed to give up a $5.9 million house he owns in the Bahamas.

Salame pleaded guilty to criminal charges in September 2023 and his plea agreement required him to pay $5.6 million in restitution to the debtors.

China Unearths Massive Gold Veins That Could Reshape Global Markets

Report: Bankman-Fried Stands by Legal Team Amid Potential Conflict of Interest

February 22, 2024 Bitcoin.com

Alex Mashinsky

Sources report that Sam Bankman-Fried (SBF), the erstwhile crypto magnate and former head of FTX, intends to utilize his newly appointed legal team, despite these attorneys also serving Alex Mashinsky, the former chief of Celsius. On Wednesday, in a courtroom declaration, SBF confirmed his complete understanding that his legal representatives were also advocating for Mashinsky. […]

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NBA Hall of Famer Shaq Served in FTX Investor Suit

April 18, 2023 Bitcoin.com

Accusations

A law firm representing FTX investors has served former NBA star Shaquille O’Neal in a class-action case against celebrities who endorsed the failed crypto exchange. The lawsuit accuses Shaq, along with other public figures and the platform’s founder, of defrauding people who put money into FTX. Shaquille Served Legal Notice in FTX Lawsuit Outside His […]

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