Category: Legal

U.S. SEC Counters Ripple in Ongoing Effort to Appeal Groundbreaking XRP Ruling

September 8, 2023CryptoLeave a Comment

Judge Torres ruled in July that Ripple violated federal securities law in how it sold XRP to institutional investors, but that it had not done so with retail investors. Another judge in the same court, Judge Jed Rakoff, disagreed with the judgment when he ruled on a different case, also brought by the SEC. The […]

CFTC Goes After Opyn, ZeroEx, Deridex DeFi Operations in Enforcement Sweep

September 7, 2023CryptoLeave a Comment

The three firms face a number of accusations based on their use of blockchain-based protocols and smart contracts to function as trading platforms, according to the CFTC. The U.S. derivatives regulator is ordering Opyn, ZeroEx, and Deridex to cease those violations and pay penalties of $250,000, $200,000, and $100,000, respectively. The companies agreed to these […]

3AC Liquidator May Try to Claw Back About $1.2B From Digital Currency Group, BlockFi

July 7, 2023CryptoLeave a Comment

A confidential July 7 report from Teneo, the liquidator, that CoinDesk reviewed referred to more than $1 billion of “prospective claims” against DCG and its Genesis lending subsidiary consisting of “both preference claims and claims which have resulted from issues around the perfection of loan and security documentation.” It also noted more than $220 million […]

Kraken’s Top Lawyer Says Signs of Progress in U.S. Congress Put SEC in Legal Bind

May 12, 2023CryptoLeave a Comment

While the U.S. Securities and Exchange Commission (SEC) continues to rain enforcement fire onto the crypto industry, Kraken’s chief legal officer, Marco Santori, says a specific legal doctrine could undermine the regulator’s authority.

Bankman-Fried $250M Bond Is a ‘Joke,’ Claims Securities Lawyer

February 16, 2023CryptoLeave a Comment

On Wednesday, Judge Lewis Caplan of the Southern District of New York (SDNY) disclosed the names of the two additional bond co-signers, Stanford University’s Andreas Paepcke, a senior research scientist; and Larry Kramer, once a dean of the university’s law school. They had agreed to pay $200,000 and $500,000, respectively. However, said Murphy, only if […]