SEC files lawsuit against FTX-linked bank, alleging fraud
Enforcement director Gurbir Grewal said Silvergate allegedly “failed to detect nearly $9 billion in suspicious transfers among FTX and its related entities.” Go to Source
Law
Auto Added by WPeMatico
Coinbase will custody digital assets for US Marshals Service
The crypto exchange said the federal agency had selected its institutional investing arm “to provide custody and advanced trading services” for large-cap digital assets. Go to Source
US State Dept offers $5M reward for OneCoin ’Cryptoqueen’
Bulgaria’s Acting Prosecutor General said Ruja Ignatova would be charged in absentia, while the FBI listed a $5 million reward for the OneCoin founder. Go to Source
Ex-fintech CEO sentenced to 3.75 years over price manipulation scheme
A federal judge in Florida recognized the HYDRO token as an investment contract qualifying as a security under SEC guidelines. Go to Source
Judge in SEC v. Kraken case suggests he will deny motion to dismiss
In their motion to dismiss, Kraken’s lawyers disputed the legal theory that the exchange was an “ecosystem” for crypto asset securities. Go to Source
Binance to appeal $4.4M fine from Canadian regulator
The cryptocurrency exchange announced plans to exit the Canadian market in 2023 but may still face enforcement action from local regulators. Go to Source
Crypto community backs Tornado Cash devs with $2.3M legal fund
Tornado Cash’s founders and developers are in the legal crosshairs, but the crypto community argues merely writing code shouldn’t be a crime. Go to Source
US prosecutors oppose Ethereum dev’s motion to reduce 5-year sentence
In April 2022, a judge sentenced Virgil Griffith to 63 months in prison for violating U.S. sanctions on North Korea. Go to Source
FTX victims go after company’s assets from criminal forfeiture
Though Sam Bankman-Fried is currently serving a prison sentence, affected FTX customers and creditors are making claims on the firm’s assets, which are still worth millions. Go to Source
Gemini reaches $50M settlement with New York AG over Earn program
Gemini Trust said that affected Earn users could expect “100% of the assets owed to them” within seven days. Go to Source
