attorney – DIGIT INFO

South Korean Lawmakers Call for Full Investigation Into KOK Token Crash

DIGIT — Thu, 10 Oct 2024 09:31:20 +0000

Two South Korean lawmakers have called for a full investigation into the KOK token after its value collapsed to almost zero. Victims have accused Korea’s largest newspaper of promoting the scam, sparking concerns about its role. The alleged cryptocurrency fraud has caused an estimated $3 billion in losses, affecting about 1.86 million investors worldwide. Korean […]

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Attorney Disbarred After Misappropriating $4 Million in Bitcoin Funds

DIGIT — Fri, 14 Jun 2024 01:27:52 +0000

The Supreme Court of Georgia, the highest judicial authority of the U.S. state of Georgia, has disbarred attorney Diana McDonald on June 11 for misappropriating $4 million from a bitcoin escrow transaction. In 2019, McDonald acted as a fiduciary for a client involved in a Bitcoin deal that failed to deliver the promised cryptocurrency. Despite […]

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

DIGIT — Fri, 14 Apr 2023 20:19:57 +0000

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 […]

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Ripple Lawyer Argues SEC Chair Gensler Has Prejudged Crypto Asset Cases

DIGIT — Wed, 01 Mar 2023 21:30:23 +0000

Recently, Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), expressed his opinion in a detailed interview with New York Magazine’s Intelligencer regarding why he believes crypto assets other than bitcoin are securities. However, Stuart Alderoty, Ripple’s chief legal officer, argues that Gensler must “recuse himself from voting on any enforcement case […]

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SBF won’t be able to play League of Legends under proposed bail changes

DIGIT — Thu, 16 Feb 2023 01:44:56 +0000

Sam Bankman-Fried is, for the most part, still able to freely access the internet through various devices. Prosecutors want to change that.

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FTX Bankruptcy Judge Denies US Trustee’s Request for Independent Examiner

DIGIT — Wed, 15 Feb 2023 23:00:18 +0000

The judge presiding over the FTX bankruptcy case has denied the U.S. Trustee’s request to appoint an independent examiner for the ongoing proceedings. The decision comes after judge John Dorsey postponed the ruling last week, citing concerns that the examiner could cost creditors tens of millions of dollars. The U.S. Trustee’s Argument for an Independent […]

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FTX Bankruptcy: Judge Delays Decision on Appointing Independent Examiner Amid Cost Concerns

DIGIT — Tue, 07 Feb 2023 20:35:10 +0000

Judge John Dorsey has delayed his decision on whether to appoint an independent examiner in the FTX case. At the latest hearing, Dorsey acknowledged that the cost to debtors could reach tens of millions of dollars. Currently, the bankruptcy judge is hopeful that the issue will be resolved through a mutually agreed upon solution between […]

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Founder of $7.5M ‘brazen fraud scheme’ to see 8 years behind bars

DIGIT — Wed, 01 Feb 2023 02:34:35 +0000

Randall Crater will pay back the millions lost by victims of his fraudulent crypto scheme and spend 100 months in jail followed by a three-year supervised release.

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Objections Raised Over Appointment of Sullivan & Cromwell as Debtors’ Counsel for FTX

DIGIT — Sat, 21 Jan 2023 20:30:18 +0000

On Friday, bankruptcy judge John Dorsey approved the law firm Sullivan & Cromwell (S&C) to be appointed as the debtors’ counsel for FTX, despite an objection from Daniel Friedberg, a former FTX US compliance officer. During a Zoom presentation, Friedberg claimed there was a conflict of interest between former and current FTX executives and FTX […]

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Report: Alameda’s Caroline Ellison Retains SEC’s Former Enforcement Division Chief

DIGIT — Mon, 12 Dec 2022 20:30:29 +0000

After more attention has been cast on the former Alameda Research CEO Caroline Ellison, a report details that Ellison has hired Wilmerhale partner Stephanie Avakian, an attorney that worked for the U.S. Securities and Exchange Commission (SEC). The news follows leaked documentation of Ellison’s alleged margin position, and the ex-Alameda executive reportedly being spotted at […]

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