Tag Archives: lawsuit

Gemini has entered into a $50 million settlement with the New York Attorney General’s Office as part of an agreement to offer restitution to its defrauded users who were unable to reclaim their assets deposited into the Gemini Earn program. This settlement brings the lawsuit from October 2023 to a satisfactory conclusion. Letitia James, the NY Attorney General, said in a press release, “Hundreds of thousands of people, including at least 29,000 New Yorkers, had their trust broken and their...

The Securities and Exchange Commission (SEC) is likely starting to sweat a little given that the Ripple case it worked so hard on hasn’t traveled in its favor. Ripple May Get the SEC to Back Off A few weeks back, a judge in New York of all places (New York is often considered a very unfriendly place when it comes to digital assets) ruled that Ripple wasn’t necessarily a security, and while not all the legal ramifications or doors have been closed yet, things are...

Could a crypto world exist without Binance? Many analysts and traders are weighing in on this subject given the world’s largest digital currency exchange is facing a huge lawsuit from the Securities and Exchange Commission (SEC). Could Binance Come to an End? Not long ago, the SEC filed charges against Binance and claimed the company had broken securities laws for many years. It also said Binance had commingled company funds with those of customers. The exchange...

Last year, a lawsuit was filed against South African entrepreneur and billionaire Elon Musk. The lawsuit alleged that Musk took measures to manipulate the price of Dogecoin, which he’s been fond of and spoken highly of for some time. The plaintiffs in the lawsuit claim to have lost millions of dollars during the 2022 bear market, and they’re blaming the SpaceX founder for his alleged role in their losses. Elon Musk Lawsuit Changed Up Now, it appears the lawsuit...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Basketball superstar Shaquille O’Neal is the latest athlete to be served in a class-action lawsuit against the now defunct crypto exchange FTX, which fell apart in a heap of bankruptcy and fraud last November. Shaquille O’Neal Is the Latest FTX Defendant Adam M. Moskowitz – the attorney leading the lawsuit –...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up At the time of writing, South African billionaire and entrepreneur Elon Musk – the man who brought companies like Tesla and SpaceX to the forefront – is currently trapped in the middle of a $258 billion lawsuit centering on his promotion of digital currencies like Dogecoin. Elon Musk Requests Dismissal of Court...

Roger Ver – often dubbed “Bitcoin Jesus” and the founder and former CEO of Bitcoin.com – says he’s willing to pay up when it comes to the $20 million lawsuit posed against him by Genesis, the now bankrupt crypto lending division of the Digital Currency Group (DCG). Roger Ver Discusses the Genesis Lawsuit On Reddit, Ver posted the following: I have sufficient funds on hand to pay Genesis the sums allegedly owed, and I’m happy to pay what I owe. However, Genesis was...

Investors in the Gemini exchange in New York are suing the company and its founders – Cameron and Tyler Winklevoss – for fraud. Gemini Is Being Sued It is alleged in a class-action lawsuit that the company is in violation of the Exchange Act. A complaint was filed against Gemini and its creators in the US Southern District of New York, and it centers around the firm’s Earn Program, which offers as much as 7.4 percent interest to traders who take part in it. The program...

The lawsuit between Ripple and the Securities and Exchange Commission (SEC) just keeps heating up. Ripple has now put in a request with the agency to view documents determining its decisions to allow both bitcoin and Ethereum to be exempt from securities statuses through what’s known as a “Freedom of Information” request.Ripple: What Makes Us So Unique, Huh?Here’s a little background on the situation. Ripple is being charged by the SEC for hosting an improper token sale back in 2013....

Ripple is trapped in a heavy lawsuit, but the plaintiff – a customer named Bradley Sostack – has ultimately run out of time when it comes to responding to the company’s notion to dismiss, and it’s unclear where things will go from here.Where is the Ripple Suit Headed?The lawsuit stems not just from Sostack, but from several customers who seem to think that Ripple is a security and failed to appropriately register. They claim that the company has employed false advertising and that the...