Caroline Ellison, the former CEO of Alameda Research, told a federal court in New York that she knowingly misled lenders about how much the firm had been borrowing from the collapsed FTX crypto exchan...
Tag: Legal
IRS to delay $600 payment platform reporting threshold, calls 2022 “transition period”
The Internal Revenue Service is delaying new requirements that require third-party settlement organizations like PayPal and Venmo to report transactions that exceed a minimum threshold of $600 in aggr...
Marijuana black market undercuts legal business
A man smokes marijuana during a hip-hop performance at the 11th annual block party held by the Bushwick Collective in Brooklyn, New York, on June 4, 2022. Alex Kent | AFP | Getty Images Thriving, unre...
New York To Finally Launch Legal Adult-Use Cannabis Market With East Village Dispensary
Statue of Liberty set against the background of green marijuana bushes. getty The delay is over! New York’s legal adult-use market will officially launch next week with the opening of the state&...
Marshall Islands passes law recognizing DAOs as legal entities
The Republic of the Marshall Islands (RMI) announced on Dec. 22 that it had enacted the Decentralized Autonomous Organizations Act of 2022. The law formally recognizes DAOs and allows legal entities r...
Ellison and Wang guilty pleas unsealed as Bankman-Fried granted bail
U.S. prosecutors released more details on the criminal charges that former Alameda Research CEO Caroline Ellison and FTX co-founder and former CTO Gary Wang pled guilty to earlier this week. The...
Bankman-Fried extradition to U.S. approved: WSJ
Sam Bankman-Fried is headed back to the U.S. to face criminal charges over the collapse of FTX after a judge approved his extradition from the Bahamas, the Wall Street Journal said. Bankmnan-Fri...
Brazil’s cryptocurrency regulation set to become law at midnight
Cryptocurrency regulation in Brazil is poised to become law at midnight local time. The bill, which was approved by the Chamber of Deputies two weeks ago, aims to regulate providers of virtual a...
Is Stake legal In The US?
Stake.us is an established sweepstakes casino that offers US players the chance to play for fun or real cash prizes. Stake.us free money can be won by wagering across some top casino titles without ev...
Cal, Aka FTX Field, Seeks Legal Name Change After Exchange Falls
Not long ago, Live Bitcoin News reported that the FTX Arena for the Miami Heat was going to change its name following the collapse of FTX, the now disgraced cryptocurrency exchange based in the Bahama...
‘Visibly Shaking’ FTX Co-Founder Hammers out a ‘Wasted Day’ in Court as Bahamian, US Legal Team Prep for Extradition – Bitcoin News
FTX co-founder Sam Bankman-Fried (SBF) had a difficult day in court on Monday according to a number of accounts that said SBF’s local attorney seemed to be in conflict with his U.S. legal team. Furthe...
2 Live Crew’s Decades-Long Legal Battles And Its Current Fight For Copyright Termination
Contributing Author: Heather Antoine In November 2020, the members of 2 Live Crew sent a formal notice terminating all previously … [+] acquired copyrights to their master recordings produced be...
Alameda gave $400 million to startup in same condo as SBF: CoinDesk
Modulo Capital, a relatively unknown firm that appears to have a lot in common with Sam Bankman-Fried and Caroline Ellison, received a $400 million loan from Bankman-Fried’s investment firm, Ala...
Bankman-Fried will agree to extradition to U.S.: reports
Former FTX CEO Sam Bankman-Fried on Monday decided to agree to be extradited to the U.S. to face fraud charges, Reuters reported, citing his lawyers. The report came several hours after one of B...
Grayscale may return some capital to investors if GBTC’s ETF dreams fail: WSJ
Grayscale Investments will explore how to return up to 20% of its Grayscale Bitcoin Trust’s capital to shareholders if it cannot turn the product into an exchange-traded fund. A tender off...
Sam Bankman-Fried won’t fight U.S. extradition: Reuters
Sam Bankman-Fried, the founder and former CEO of FTX, is expected to tell a court in the Bahamas on Monday he will no longer contest extradition to the United States, where he is facing criminal fraud...
Riot Games looks to distance itself from Sam Bankman-Fried
He’s been kicked out of the “League.” The maker of Sam Bankman-Fried’s favorite game, League of Legends, wants out of its exclusive sponsorship agreement with the disgra...
Class action lawsuit claims Silvergate played role if FTX’s fraud
A class-action lawsuit claims that Silvergate Bank played an “integral” role in the alleged fraud at Sam Bankman-Fried’s crypto exchange FTX. The plaintiffs are Joewy Gonzalez...
Finder Wallet to Face Legal Actions Filed by the ASIC
Recently an Australian financial regulator reported to take legal action against a crypto yield product start-up. The Australian Securities and Investments Commission (ASIC) sued Finder Wallet, the su...
Bahamas denies improper conduct, seeks respect for legal system
During the FTX hearing on Dec. 16, FTX liquidators requested for the “Bahamian legal system to be respected” in relation to the ongoing bankruptcy case in the United States (US), while also denying al...
OneCoin co-founder Karl Sebastian Greenwood pleads guilty: DOJ
Karl Sebastian Greenwood pled guilty to wire fraud and money laundering connected to the fraudulent OneCoin scheme, the Department of Justice announced. Greenwood co-founded OneCoin along with s...
FTX, Bahamas liquidators remain at loggerheads over system access
FTX, the Bahamas government, and lawyers hired to liquidate the failed crypto empire’s Bahamian operations remain at loggerheads over granting access to FTX’s Bahamian computers to review what assets ...
Australian regulator sues Finder Wallet for ‘unlicensed’ financial services
Australia’s financial watchdog sued Finder Wallet, a subsidiary of comparison website Finder.com, over a crypto-linked yield product. The Australian Securities and Investment Commission (ASIC) s...
Committee to represent creditors formed in FTX bankruptcy case
A committee to represent unsecured creditors and serve as the voice for most FTX customers in court was established in the U.S. bankruptcy case of FTX and its affiliated companies. The formation...
Growth Opportunities As New States States Open For Legal Cannabis
| AFP via Getty Images Key Takeaways Maryland and Missouri both passed initiatives to legalize recreational marijuana in November. Many states, including Oklahoma, Ohio, Hawaii, and Minnesota, could p...
Elon Musk takes legal action after ‘stalker’ finds car with his child inside
Elon Musk is taking legal action against the owner of the @ElonJet Twitter account – AP Photo/Matt Rourke Elon Musk has said he is taking legal action against the owner of a Twitter account that...
Bankman-Fried lieutenant alerted regulators to misuse of customer funds
One of Sam Bankman-Fried’s top lieutenants told Bahamian authorities that customer funds from the firm were used to plug holes in the balance sheet of his investment fund, Alameda Research. In a...
Next UK financial regulator calls for tougher crypto rules: FT
Ashley Alder, the UK’s next Financial Conduct Authority chair, had harsh words for crypto platforms as he addressed members of parliament, the Financial Times first reported. Speaking at a cross...
SBF’s legal battle still has “a lot to play out,” according to legal commentators
Sam Bankman-Fried, former FTX CEO, faces eight accusations and could get 115 years in jail, but there is a “lot to play out” until he gets a final sentence over the coming months or even y...