Ben ‘bitboy’ Armstrong files another lawsuit in quest to retrieve his Lamborghini
Crypto YouTuber, Benjamin “Bitboy” Armstrong has lodged another lawsuit against former colleagues and affiliates over an alleged “unlawfully stolen” Lamborghini and “a pattern of racketeering,” according to Armstrong, his attorneys, and documents. The complaint, stamped by the Superior Court in Cobb County, Georgia, names six defendants including Hit Network CEO Timothy Shedd Jr., Hit Network […]
SEC to face lawsuits over Bitcoin ETF rejections says JPMorgan Analyst
The U.S. Securities and Exchange Commission (SEC) may face lawsuits if it rejects spot Bitcoin exchange-traded fund (ETF) applications, a scenario that is causing concern among industry insiders. Analysts from JPMorgan, led by Nikolaos Panigirtzoglou, expressed growing optimism about the potential approval of a spot Bitcoin ETF. However, they warn of potential legal issues should […]
SEC challenges Coinbase’s attempt to dismiss lawsuit
The U.S. Securities and Exchange Commission (SEC) has urged a federal judge to reject the motion by Coinbase Inc. (NASDAQ: COIN) to dismiss the lawsuit against it. According to the regulator, the cryptocurrency exchange knew the digital assets it sold were deemed securities under the Howey Test. According to the reports, the SEC submitted a […]
Changpeng Zhao, Binance CEO, faces class-action lawsuit over FTX’s downfall
Changpeng Zhao, the CEO of Binance, along with Binance.US, are at the center of a class-action lawsuit. The legal action is related to their purported role in the collapse of FTX, a competing cryptocurrency exchange. On Monday the lawsuit was initiated by California resident Nir Lahav, accusing Zhao and Binance.US of numerous federal and California […]
FTX Founder Accused of Embezzling Customer Funds for Political Contributions
Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, has been charged with stealing customer funds for political campaign donations. Prosecutors claim that Bankman-Fried used funds stolen from FTX sister company Alameda Research to make campaign contributions before the 2022 US midterm elections. He allegedly directed the money into the personal accounts of FTX executives, who […]