Robinhood nears settlement on GameStop, meme stocks suit
Trading platform Robinhood is finalizing a settlement with investors who claimed they were burned by its 2021 meme stock buy block. Go to Source
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Apple disputes monopoly claims, cites ‘fierce competition’ in court
Apple’s letter to a federal judge previewed its slated dismissal motion to a U.S. antitrust suit, with the firm claiming prosecutors didn’t define where it has a monopoly. Go to Source
Dolce & Gabbana Sued Over $6,000 NFTs Losing 97% Value
Dolce & Gabbana USA Inc. faces a lawsuit from a customer who claims the non-fungible tokens (NFTs) he bought for $6,000, which included metaverse outfits, lost 97% of their value due to delivery failures by the luxury fashion house. The complaint, filed in Manhattan federal court, alleges the NFTs were promoted with various digital, physical, … Read more
Bitfarms Terminates CEO Geoffrey Morphy, Faces $27 Million Lawsuit
Bitfarms Ltd., a global bitcoin mining company, has announced the immediate termination of Geoffrey Morphy as president and CEO, along with his removal as a director. Following his dismissal, Morphy filed a lawsuit against the company, seeking $27 million in damages for alleged breach of contract and wrongful dismissal. Bitfarms is set to defend against … Read more
SEC files final response in Ripple XRP case
The SEC argues that Ripple’s claims do not negate the need for injunctions to prevent future violations. Go to Source
Class Action Lawsuit Claims Coinbase Operates as Unregistered Broker
A new class action lawsuit was initiated against the San Francisco-based cryptocurrency exchange Coinbase on May 3. The legal action claims that Coinbase deliberately sold securities that are unregistered with regulatory authorities. Additionally, the lawsuit charges Coinbase with operating as an unregistered securities broker. Lawsuit Alleges Coinbase Illegally Sold Securities Without Registration According to legal … Read more
Coin Center Warns of DOJ Overreach in Tornado Cash, Samourai Wallet Cases
The recent actions by the Department of Justice (DOJ) against non-custodial crypto wallet developers have sparked controversy and concern within the cryptocurrency community. According to Coin Center, these charges mark a significant shift from previous U.S. policies regarding money transmission, potentially impacting the liberty and privacy rights of developers and users alike. Coin Center: DOJ … Read more
Does Money Transmitting Require Control? DOJ Says No in Tornado Cash Litigation
Since the Department of Justice (DOJ) filed its legal opposition to the pretrial motions of Tornado Cash developers Roman Storm and Roman Semenov, there has been a buzz within the cryptocurrency community regarding specific aspects of the court filing. A key point raised by the prosecutors is their belief that the definition of “money transmitting” … Read more
SEC sues Bitcoin miner Geosyn, accusing founders of $5.6M fraud
The SEC alleged Geosyn Mining’s co-founders misappropriated $1.2 million of its investors’ funds, spending it on holidays, nightclubs and firearms. Go to Source
‘ETH Should Not Be Treated as a Security’ — Consensys Sues SEC Over Ethereum Regulations
In a significant legal move, Consensys has initiated a lawsuit against the U.S. Securities and Exchange Commission (SEC) to protect the Ethereum blockchain from what it deems overreaching regulations. A report further alleges that the SEC issued a Wells Notice to Consensys, asserting that Metamask functions as an “unlicensed broker-dealer.” Consensys Confronts SEC Following Receipt … Read more