A federal judge is reportedly ruling that top US-based crypto exchange Coinbase must face a class action lawsuit in New York. According to a new report from Reuters, Paul Engelmayer, a judge for the Southern District of New York, is rejecting Coinbase’s argument that it did not qualify as a “statutory seller” to dismiss a […]
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Ondo Finance states that this new project seeks to combine the decentralization and convenience of blockchains with the world of permissioned traditional finance markets. Ondo Finance Announces Ondo Chain to Bring Real-World Assets to Blockchain Ondo Finance, a protocol for real-world assets, has announced Ondo Chain, a Layer 1 (L1) solution that seeks to bridge […]
The Supreme Court has denied a petition to review a lower court decision that securities laws applied to Binance.
The US Supreme Court has declined to hear an appeal from crypto exchange Binance and its founder, Changpeng “CZ” Zhao, regarding a class-action lawsuit by investors who alleged the exchange illegally sold unregistered tokens that lost significant value.
On Jan. 13, the Supreme Court of the United States denied a petition to review a lower court ruling that US securities laws applied to the crypto exchange, even though it doesn’t have a physical headquarters in America.
In March, a lower court ruled the case could proceed because token purchases were finalized in the US and transactions took place on US servers, despite Binance not being an American company.
New data from market intelligence platform Santiment reveals that Chainlink (LINK) is leading the real-world assets (RWA) sector in terms of recent development activity. In a new post on the social media platform X, Santiment says the nascent sector is being led by the decentralized oracle network followed by Ethereum (ETH)-based synthetic asset creator Synthetix […]
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Terraform Labs’ near $4.5 billion settlement with the SEC has contributed to a record year for the agency’s financial penalties.
The United States Securities and Exchange Commission hit a new record for penalties and fines from its enforcement actions in the fiscal year 2024 — due mainly to a massive settlement with crypto firm Terraform Labs.
The agency net $8.2 billion in financial remedies for the year ending Sept. 30 — “the highest amount in SEC history,” it said in its Nov. 22 annual report — despite the number of cases declining 26% from last year to 583.
Over half of the total came from the SEC’s court win against Terraform and former CEO Do Kwon, who paid a $4.47 billion settlement after being found liable for fraud over its blockchain ecosystem’s collapse in 2022 that wiped billions of dollars.
Bitcoin pulled back from its range high as investors moved to greener pastures, but a possible misstep by the SEC could benefit BTC.
Bitcoin (BTC) briefly ventured above $68,000 on Oct. 16, the highest level since August, but holding this level proved harder than anticipated. With Bitcoin price now trading below $67,500, the primary question at hand is whether BTC price can restore its bullish momentum.
Stronger-than-expected economic data in the United States reduced investors’ appetite for alternative hedging instruments, while a strong earnings report by TSMC shifted traders’ attention to the stock market.
The macroeconomic environment played an important role in Bitcoin’s rejection at $68,000, but one event in the cryptocurrency industry in particular has triggered expectations of a more benevolent attitude toward crypto from the current Biden-Harris administration.
The U.S. Securities and Exchange Commission (SEC) has officially appealed the XRP ruling by Judge Analisa Torres, reigniting the legal battle over whether XRP sales on crypto exchanges qualify as securities. The regulator challenges key aspects of the court decision, including rulings that cleared Ripple executives and non-cash XRP distributions. The outcome could have a […]
A German national accused of orchestrating a $150 million cryptocurrency fraud is now a fugitive after allegedly tampering with his ankle monitor while on home detention in New York. Prosecutors say he led a multi-level marketing scheme, promising massive returns, before siphoning off millions in cryptocurrency and disappearing just before his trial. An active investigation […]
Ripple has escalated its legal battle with the U.S. Securities and Exchange Commission (SEC), filing a cross-appeal to challenge unresolved issues around XRP sales. This comes after the SEC sought to overturn parts of the rulings that cleared Ripple’s retail XRP transactions from securities violations. Ripple’s latest move aims to ensure the SEC’s arguments on […]
The U.S. Securities and Exchange Commission (SEC) has charged Cumberland DRW LLC, a Chicago-based firm, for operating as an unregistered dealer in over $2 billion of crypto assets classified as securities. The SEC claims that Cumberland violated federal securities laws by failing to register, raising concerns over investor protection. The charges seek injunctive relief and […]