Balchunas’ prediction comes following an observation made by Elliott Stein, a senior litigation analyst for Bloomberg Intelligence, who now pegs the chances of Grayscale winning its case against the SEC at 70%. Continue Reading on Coin Telegraph More
On June 27, FTX filed a lawsuit against Daniel Friedberg, who held multiple roles, including chief regulatory officer at FTX, chief compliance officer of FTX US and general counsel at Alameda Research.Continue Reading on Coin Telegraph More
NEW YORK (Reuters) -A federal judge on Tuesday rejected Sam Bankman-Fried’s bid to throw out most of the U.S. government’s criminal case accusing the FTX cryptocurrency exchange founder of orchestrating a multibillion-dollar fraud.The decision by U.S. District Judge Lewis Kaplan in Manhattan paves the way for an Oct. 2 trial of Bankman-Fried, a 31-year-old former billionaire.Prosecutors accused Bankman-Fried of stealing billions of dollars in FTX customer funds to plug losses at his Alameda Research hedge fund.They also accused Bankman-Fried of misleading investors and lenders, and contributing illegally to U.S. political campaigns in the names of colleagues.Bankman-Fried has pleaded not guilty and denied stealing funds, while acknowledging that FTX had inadequate risk management.Bankman-Fried in May asked Kaplan to dismiss at least 11 of the 13 fraud and conspiracy charges he faced. Bankman-Fried said some charges relied on a fraud theory — where a defendant could be convicted for depriving someone of economically valuable information and not just tangible property — the U.S. Supreme Court last month deemed invalid.But the judge agreed with prosecutors that the theory, known as right to control, did not apply to Bankman-Fried.”The defendant’s assertion that the indictment does not allege any ‘economic loss’ to FTX customers appears to be factually incorrect,” and the alleged misappropriated funds clearly constituted property, Kaplan wrote.A spokesman for Bankman-Fried declined to comment. Bankman-Fried also argued that some charges were improperly brought without consent from the Bahamas, where he was arrested in December and extradited to the United States.An extradition treaty between the United States and the Bahamas, where FTX was based, says a country must consent before defendants can be tried on charges brought after their extradition. Kaplan this month said a second trial will be held March 11 on the five charges prosecutors brought against Bankman-Fried after his extradition. Prosecutors said they asked the Bahamas to agree to those charges, which include conspiracy to bribe Chinese officials and commit bank fraud, but did not know when the Caribbean country would grant its consent. More
The deployments had caused a stir on Twitter, as users wondered who was causing them and what their purpose was. Some Twitter users had speculated that it might be a Sybil attack or some kind of address-farming technique used to profit from coins sent to the wrong address.Continue Reading on Coin Telegraph More
In a June 26 filing, the regulator petitioned the Eighth Judicial District Court of Nevada for a temporary restraining order and an order appointing a receiver to Prime Trust Technologies, which would include its crypto custodian arm. Prime Trust has agreed to the receivership along with the regulator based on the “substantial deficit between its assets and liabilities.” Continue Reading on Coin Telegraph More
EDX supports trading in four cryptocurrencies — Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). At the time of writing, BCH had risen 70.43% in the week since EDX began operating and 101.36% in the last month.Continue Reading on Coin Telegraph More
Investors now question how solid Bitcoin’s $30,000 support is. So analyzing what caused the recent price rally is essential to understanding how traders are positioned on BTC margin and futures markets.Continue Reading on Coin Telegraph More
In a June 27 announcement, the crypto exchange said it had started the “Bitfinex P2P” platform allowing users in the South American nations to buy and sell Bitcoin (BTC), Ether (ETH), Tether (USDT), Tether’s euro-pegged stablecoin EURT and Tether Gold (XAUT). Bitfinex chief technology officer Paolo Ardoino suggested the expansion into the three countries was part of the firm’s efforts to promote digital asset-related financial services in Latin America.Continue Reading on Coin Telegraph More
