Ripple Faces Class-Action Lawsuit in California Federal Court for Selling XRP as Unregistered Security
On April 26, a class-action lawsuit against Ripple Labs for allegedly selling XRP as an unregistered security will be heard in a federal court in California. The plaintiffs, represented by Bradley Sostak, aim to demonstrate that all individuals who bought and sold XRP at a loss, or still hold it, ...
US Securities and Exchange Commission Sues Bittrex Crypto Exchange Over Unregistered Securities
The Bittrex crypto exchange and its co-founder, William Shikhara, are facing legal action from the US Securities and Exchange Commission (SEC). The regulator has filed a lawsuit in the US District Court for the Western District of Washington, claiming that Bittrex allowed the trading of six crypt ...
US SEC Obtains Guilty Judgment Against Ormenus Coin Project Organizers for Investor Fraud
The US Securities and Exchange Commission has recently secured a conviction against the organizers of the Ormenus Coin cryptocurrency project, and is now seeking payment of a fine for duping investors. According to the regulator, siblings John Barksdale and Jonatina Barksdale developed and operat ...
Terraform Labs Founder Do Kwon Accused of Fraud and Setting up Company in Serbia for Less Than $1
According to reports from various media outlets, Do Kwon, the founder of Terraform Labs, established a new company in Serbia for a remarkably low price of less than $1 just a few weeks after being placed on the international wanted list by Interpol. Kwon founded a company named "Codokoj22 d.o.o. ...
Founder of Titanium Blockchain Crypto Scam Receives 4-Year Prison Sentence
A founder of a fraudulent cryptocurrency project called Titanium Blockchain has been sentenced to 4 years in prison by a US court after his clients lost $21 million. Michael Stolleri launched the Titanium Blockchain Infrastructure Services (TBIS) project in 2017 and conducted an initial coin offe ...
Ark Invest Raises $16.3 Million for New Crypto Fund
Ark Invest, the investment management firm led by Catherine Wood, has successfully raised $16.3 million for its new cryptocurrency fund. The fund will have two separate entities, with one based in the United States and the other in the Cayman Islands. The company filed the necessary documents wit ...
San Antonio Couple Arrested for Stealing $250,000 Worth of Crypto Assets
This is a disturbing case of SIM card fraud and theft of cryptocurrency assets by a couple in San Antonio. Andrew Trujillo and Zena Dounson were able to steal at least $250,000 worth of cryptocurrency using a SIM spoofing scheme. They copied SIM card data and forwarded short messages to custom ...
Grayscale CEO Criticizes SEC’s Refusal to Approve Bitcoin ETF
During an interview with CNBC, Michael Sonnenshein, the CEO of Grayscale Investments, expressed his frustration with the US Securities and Exchange Commission's (SEC) repeated refusal to approve the launch of a Bitcoin-pegged ETF. The SEC has cited concerns about manipulation in the spot market a ...
US SEC seeks to broaden definition of securities, according to Crypto-law Founder
The CEO of Crypto-law has expressed concerns that the US Securities and Exchange Commission (SEC) is seeking to expand the definition of securities, a move he describes as thoughtful yet dangerous. John Deaton discussed recent SEC initiatives in the cryptocurrency industry in response to a questi ...
Former NBA Player Fined $1.4 Million for Mishandling EMAX Tokens on Social Media
Paul Pierce, a former NBA player, has pleaded guilty and agreed to pay a hefty fine of $1.4 million for allegedly mishandling EMAX tokens on social media, according to the US Securities and Exchange Commission (SEC). The SEC accused Pierce of promoting EthereumMax (EMAX) tokens on Twitter without ...