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Ifinex Inc, parent firm of Bitfinex, finds its ongoing legal troubles further complicated as a November lawsuit has been withdrawn by the plaintiff and refiled in a new district. The company, whose close affiliations with both the Bitfinex crypto exchange and stablecoin Tether have continually raised suspicion, now faces at least three ongoing legal battles. … Read more
The high profile billion dollar bitcoin lawsuit, Kleiman v. Wright, has continued into the new year. The Kleiman estate’s legal team filed for a protective order to prevent the deposition of Wright’s ex-wife on January 13, 2020. Additionally, the plaintiffs and defendants have scheduled a slew of fact and expert witness depositions for the next … Read more
Since Tether’s (USDT) migration to other networks beside the BTC-based Omni protocol, significant shifts have taken place seeing the heavily-printed stablecoin rise to prominence also via Ethereum’s ERC20 standard and Tron’s TRC20 implementation. Ethereum-based USDT supply currently sits at over 2.2 billion tokens, while the Omni equivalent stands at around 1.5 billion. The Tron network … Read more
The Kleiman v. Wright lawsuit continues following the plaintiff’s request to Judge Reinhart asking him to overrule Craig Wright’s recent objections. Wright’s council has responded in a joint discovery memorandum asking for access to data tied to David Kleiman’s 15 computers. Wright has also requested any documentation tethered to Ira Kleiman’s (Dave’s brother) real estate … Read more
On December 16, new court filings from the Kleiman v. Wright case show the plaintiffs have responded to Wright’s objections against the magistrate’s court order. Kleiman’s lawyer Velvel Freedman explained that Craig’s statements in court “lacked credibility,” his constant change of stories “demonstrates falsity” and Freedman claims Wright’s “trust documents are forgeries.” Also read: Plustoken … Read more
The ongoing lawsuit against Ripple are not over just yet. If it is left up to the company, however, it will be dismissed rather shortly. Several people still argue how XRP is a security and should be traded as such. Ripple Wants to end the Lawsuit If that were to be the case, the consequences … Read more
In early September, the high-profile court case Kleiman v. Wright looked as though it was coming to an end as the two parties reached a non-binding settlement. Then on October 30, without much notice, Wright explained that he couldn’t finance the settlement and the agreement was broken. Now the trial will start again and the … Read more
The New York court reviewing Telegram’s contested coin offering in the U.S. has postponed a scheduled hearing on the case till February. The defendants, Telegram Group and its subsidiary TON Issuer, have been banned from distributing and selling the tokens. Investors who don’t want to wait for the launch of the blockchain project can receive … Read more
Telegram, the most popular messenger in the crypto community, is facing challenges surrounding the launch of its TON blockchain. Following an intervention by the U.S. securities regulator, a court hearing on the sale of the native gram tokens is scheduled to take place a week before the network was expected to go live. Also read: … Read more
A common attack against Tether in the crypto ecosystem is that the stablecoin isn’t really backed one-to-one by the U.S. dollar. We might soon get to know if these concerns are substantial, as the matter is now going to court. A new lawsuit against the operators of USDT accuses them of creating the largest bubble … Read more
