The company failed to disclose that some of its mining equipment was owned through special purpose vehicles, the suit alleges.
CoinDesk
Class Action Lawsuit Against FTX’s Celebrity Promoters and Sam Bankman-Fried Is Quietly Dropped
A class action lawsuit filed against former FTX CEO Sam Bankman-Fried and a host of paid celebrity promoters for the now-defunct crypto exchange has been dropped.
CoinDesk
Mark Cuban Faces Class Action Lawsuit For Promoting Voyager Digital
Billionaire Mark Cuban has been one of the most vocal proponents of cryptocurrencies. He has also shown this support by accepting cryptocurrency payments for the basketball team Dallas Mavericks, which he owns. Cuban’s foray into cryptocurrencies has also seen him ‘promote’ some platforms in the past, such as Voyager Digital, and as the cryptocurrency firm has entered bankruptcy proceedings, Cuban is catching some of the heat from disgruntled investors.
Class Action Lawsuit Against Mark Cuban
According to a filing in the United States District Court in the Southern District of Florida, a class action lawsuit was brought against billionaire Mark Cuban. The filing claimed that Mark Cuban had aided the company in defrauding millions of Americans.
Lawsuits Mount Against Terra: FatManTerra Launches Class Action Lawsuit
Terra has been the target of a second class action lawsuit, and more legal action is likely to be brought against the struggling stablecoin company in the near future.
A Slew Of Lawsuits Against Terra
On Sunday, Bragar Eagel & Squire issued a press statement announcing their plans to bring a lawsuit against Terra. The law firm specializes in representing both individual and institutional investors in complicated financial litigation involving derivatives, securities, and commercial law.
Following the collapse of the Terra ecosystem, the now-famous Dark Knight of Terra, FatManTerra, has announced a class action lawsuit through US attorneys Scott+Scott in an effort to recover UST investments.
Honey Badger Should Care: Why Bitcoin’s Price Action Does Matter
Despite repeated statements from Bitcoiners that price does not matter, the price of bitcoin is fundamentally a measure of its success.
This is an opinion editorial by Joakim Book, a Research Fellow at the American Institute for Economic Research, contributor and copy editor for Bitcoin Magazine and a writer on all things money and financial history.
What Does The Financial Action Task Force Have In Store For Bitcoin?
The FATF released meeting notes hinting at an upcoming report on recommendations for business compliance with the Travel Rule and “unhosted wallets.”
The below is a direct excerpt of Marty’s Bent Issue #1229: “A new FATF report drops at the end of the month.” Sign up for the newsletter here.
G7 Agrees on Crypto Action Plan Spurred by Facebook’s Libra
G7 finance chiefs met this week and Facebook’s Libra cryptocurrency was high on their agenda. They agreed on several crypto initiatives and fast regulatory responses to projects such as Libra, calling for them to meet the highest standards of financial regulation.
Also read: G20 Leaders Issue Declaration on Crypto Assets – A Look at Their Commitments
JPMorgan Report Likens Bitcoin (BTC) Price Action to 2017 Rally
Bitcoin’s (BTC) surge in price over the past few weeks has caught the attention of both hardcore cryptocurrency enthusiasts and mainstream investors alike. While the utility of Bitcoin has certainly increased in the past year, with advancements in both the overlying infrastructure and transaction efficiency, some institutions and analysts continue to tie its intrinsic value […]
SludgeFeed
Bitfinex Faces Legal Action From NY Attorney General: Here’s What This Means
The New York Office of the Attorney General (AG) wants to take a closer look into the business operations of Bitfinex and related stablecoin issuer Tether (USDT). According to a legal petition filed with the Supreme Court of New York, the NY Attorney General Office of Letitia James is applying for a court order to investigate Bitfinex’s suite of interrelated companies (including its umbrella firm iFinex and Tether Holdings Limited) for “ongoing fraud” to the tune of $ 850 million.
What does the news mean for Bitfinex, Tether and Bitcoin?
Index Technicals Shed a Light on the Recent Crypto Market Price Action
The cryptocurrency market pulled back on Thursday as Bitcoin (BTC) dropped more than 4% to around $ 5,000 and the market lost nearly $ 20 billion in total value. While many analysts failed to predict the latest drop, often citing near-term bullish predictions of $ 6,000-$ 7,000, data provided from crypto index platform AltDex suggested the market was primed […]
SludgeFeed
Online PvP Action Game TRAPS Joins the TRON Arcade
TRAPS, an adaptation of Agar.io where players control one or more cells and compete for space in a map representing a petri dish, is officially joining the TRON Arcade, TRON’s (TRX) $ 100 million blockchain gaming initiative. ‘@traps_one by LittleFox is ready to devour the competition with real-time PvP on the blockchain! Welcome to #TRONArcade. Play […]
SludgeFeed
Chat App Kik Says It Will Fight SEC Over Possible ICO Action
Messaging app company Kik says it will stand up to the SEC over an expected enforcement action relating to its 2017 initial coin offering
CoinDesk
Newsflash: Bitcoin Price Surging Beyond $4,100 in Extended Buying Action
Bitcoin price is surging above the psychological resistance of $ 4,100 in an extended buying action. The Bitcoin/Dollar rate rose to $ 4100 on Coinbase between 9-10 am UTC – a level that was breached to the downside during the December 3 trading session. The pair, around the same time, was trading at a prime rate of
The post Newsflash: Bitcoin Price Surging Beyond $ 4,100 in Extended Buying Action appeared first on CCN
Pantera Capital Braces for SEC Action Against 25 Percent of ICO Investments
Increasingly frequent action taken by the SEC against initial coin offerings is expected to lead to more cryptocurrency projects being forced to refund investors. Among those expected to be affected is the first U.S.-based cryptocurrency investment firm, Pantera Capital, with the company bracing to receive refunds on a quarter of its ICO investments.
Also Read: BTI Claims Only Two of Top 25 Crypto Exchanges Accurately Report Volume
Bitcoin Price Surges 15% in Rebound Action — Has It Bottomed Already?
The bitcoin price on Wednesday saw the arrival of bulls as it surged 15 percent in an impressive rebound action. The BTC/USD index opened at 3776-fiat while continuing the upside action of the previous day. It kept forming higher highs, eventually setting its daily peak at 4350-fiat as the US trading session came into play.
The post Bitcoin Price Surges 15% in Rebound Action — Has It Bottomed Already? appeared first on CCN
Colorado Takes Action Against Four More ICOs – 12 in Total
The Division of Securities of the U.S. state of Colorado has issued four new cease-and-desist orders to stop as many companies from promoting their tokens to residents of the state. So far, action has been taken against a total of 12 initial coin offerings by the state’s securities commissioner.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
Four New Orders
Colorado Securities Commissioner Gerald Rome on Thursday signed four orders “directing the cessation of unregistered securities in the state of Colorado,” the state’s Division of Securities announced. So far, the division has taken action against a total of 12 initial coin offerings (ICOs), the announcement details.
Texas Takes Action Against Cryptocurrency Mining Company Promising 200% Profit
The Texas State Securities Board has issued an emergency cease and desist order to an Australia-based cryptocurrency mining company and its affiliates. According to the order, the company represents that investments in its mining contracts are “guaranteed to 200% profit.”
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
Cease and Desist Order
The Texas State Securities Board on Tuesday issued an emergency cease and desist order to Sydney-based Aws Mining Pty. Ltd. and nine other respondents affiliated with the company. The entities named are Automated Web Services Mining (Aws Mining), Mycoindeal, Aws Elite, and West Texas Oilfield Cloud Miners Club.
Ripple (XRP) On The Verge Of A Breakout As Price Action Repeats History
Ripple (XRP) has cleared its way against Bitcoin (BTC). The weekly chart for XRP/BTC shows that Ripple (XRP) has broken above critical EMA resistances and is now clear to take off. During Ripple (XRP)’s last cycle, we saw it forming four consecutive candles against Bitcoin (BTC) and made a new ATH. This pattern has also been repeated in the past and is very likely to be repeated again this time. If Ripple (XRP) were to form four consecutive candles this time, it is likely to break above a price of 0.00024 BTC and create a new all time high. At its current pace, Ripple (XRP) would be expected to reach that all time high around March, 2019.
Bitcoin Price Intraday Analysis: BTC/USD in Tether-Linked Breakout Action
Bitcoin on Sunday jumped 2.13 percent against the US Dollar as USD-pegged cryptocurrency tether (USDT) resumed its implosion. BTC/USD was in a sideways sentiment for most of the weekend trading session. The bearish trendline has capped the upside bias on multiple occasions. Nevertheless, the pair — from the past 8 hou rs to the time
The post Bitcoin Price Intraday Analysis: BTC/USD in Tether-Linked Breakout Action appeared first on CCN
SEC’s End-of-Fiscal-Year Report Reveals Heavy Action Against ICO-Related Fraud
The U.S. Securities and Exchange Commission (SEC) has released a report detailing actions taken against fraudulent ICOs and financial ventures, and, indeed, the year has been wrought with cases. The report details actions for 2018’s fiscal year, which ended on September 30, and offers insight into the ICO-related fraud that has seemingly come to light over the past several months.
Misconduct actions against ICOs and similar cryptocurrency ventures are led by the organization’s Cyber Unit, which became fully operational this year. The SEC explains in the report, “We believe our approach to enforcement in this space has been thoughtful and consistent. Importantly, it has provided a template for authorities in other countries, where fraud and misconduct targeting U.S. investors often have been based.”