Bookmarking Crypto Insights
Auto Added by WPeMatico
According to research from Recap, a cryptocurrency tax software company, London has become the world’s leading hub for cryptocurrencies. The researchers analyzed eight indicators, including the number of cryptocurrency businesses and the quantity of cryptocurrency ATMs in each country. Key Findings of Recap’s Study on Global Cryptocurrency Hubs Crypto tax firm Recap released a research … Read more
“A VCE’s customer agreement should make clear the parties’ intentions to enter into a custodial relationship, rather than a debtor-creditor relationship,” said the NYDFS. Go to Source Powered by WPeMatico
While the FTX saga continues to make headlines, last week brought a plethora of new troubles for crypto companies in the United States, Europe and Asia. Go to Source Powered by WPeMatico
On Jan. 5, 2023, the state of New York and attorney general Letitia James filed a lawsuit against Alex Mashinsky, the co-founder and former CEO of Celsius. The lawsuit claims that Mashinsky and Celsius defrauded “hundreds of thousands of investors, including more than 26,000 New Yorkers, out of billions of dollars worth of cryptocurrency.” Former … Read more
Alex Mashinsky’s actions leading up to Celsius declaring bankruptcy allegedly contributed to investor losses by misrepresenting the platform’s financial condition to investors. Go to Source Powered by WPeMatico
Regulators stated that the company had a backlog of 100,000 alerts about potential suspicious customer transactions. Go to Source Powered by WPeMatico
Sullivan & Cromwell LLP (S&C), a law firm headquartered in New York City, received $12 million from West Realm Shires Services Inc. on behalf of FTX for legal services. Go to Source Powered by WPeMatico
Judge Abrams’ withdrawal from the FTX case eradicates any conflict of interest in the FTX case because Andres continues to serve as a partner at Davis Polk & Wardwell, a law firm that advised FTX in 2021. Go to Source Powered by WPeMatico
On Dec. 23, 2022, Matthew Russell Lee from the Inner City Press published the recently unsealed guilty plea transcript of Caroline Ellison, Alameda Research’s former CEO. In her statements, Ellison describes that she was the co-CEO and CEO of Alameda, and under those roles, she reported directly to the former FTX CEO Sam Bankman-Fried (SBF). … Read more
On Dec. 21, 2022, members of U.S. law enforcement detailed that FTX co-founder Gary Wang and ex-Alameda Research CEO have pleaded guilty to financial fraud charges. The recent charges against Wang and Ellison highlight some key findings and according to the U.S. Securities and Exchange Commission (SEC), FTX’s exchange token FTT is considered a security. … Read more