Former FTX CEO Sam Bankman-Fried gained an early victory in a case concerning Texas securities laws, according to Bloomberg News reported Feb. 2. The Texas State Securities Board (TSSB) filed allegations against Bankman-Fried last October. At that time, the regulator said that Bankman-Fried had violated state securities law when FTX US provided yield-bearing products to…
A Voyager creditor — Michelle D. DiVita — filed a motion to appoint a Chapter 11 trustee in the Voyager Digital Holdings, Inc., et al. bankruptcy case, according to court filings. In DiVita’s preliminary statement, she stated the debtors have a “history of financial statement inaccuracies and public misrepresentations.” “Despite its pre-petition conduct, no party…
Federal judge Lewis Kaplan has imposed communication restrictions on former FTX CEO Sam Bankman-Fried, as seen in a Feb. 1 court filing. The ruling imposes two restrictions. First, Bankman-Fried will be barred from using encrypted and self-deleting messaging apps, including Signal — a popular messaging app that he has used to contact associates in the…
Defunct crypto hedge fund Alameda Research has sued bankrupt crypto lender Voyager Digital for $445.8 million. Alameda is trying to recover the loan repayments it made to Voyager in the 90 days preceding its own bankruptcy, according to a court filing on Jan. 30. Alameda filed for bankruptcy along with its sister company FTX in…
The judge overseeing Sam Bankman-Fried’s criminal case has decided that the names of two bail bond signers can be revealed, as determined in a Jan. 30 filing. Bankman-Fried, the former CEO of FTX, was briefly detained in the U.S. following his extradition from the Bahamas on Dec. 21. When he was released on bail on…
Digital asset manager Grayscale faces a lawsuit from its much smaller competitor, Osprey Funds, as seen in a Connecticut court filing dated Jan. 30. According to Osprey, Grayscale falsely promised to turn its Grayscale Bitcoin Trust (GBTC) into a Bitcoin spot exchange-traded fund (ETF). Osprey said that Grayscale portrayed that outcome as a “foregone conclusion”…
The New York Department of Financial Services (NYDFS) is investigating Gemini over its claims related to Federal Deposit Insurance Corporation (FDIC) coverage, Axios reported on Jan. 30. Gemini Earn users are collectively owed $765.9 million by bankrupt Genesis. Some of these users claim they were misled by Gemini since they believed their assets to be…
Chairman of the Monetary Authority of Singapore (MAS), Tharman Shanmugaratnam, spoke at the WEF23 and stated a controversial take on crypto regulations and questioned if regulating crypto could legitimize speculation, VulcanPost reported. Shanmugaratnam said: “I think whether it’s crypto or traditional finance, you have to regulate for things like money laundering — that’s very clear….
Tron founder Justin Sun aims to get TRON (TRX) accepted as legal tender in 5 countries this year. In a Twitter thread, Sun said that while the goal is “ambitious,” he is “confident” that it can become a reality. In a separate Twitter thread, Sun said it is important to look beyond the U.S. to…
Argo Blockchain investors have filed a lawsuit alleging that the crypto miner made misleading statements and concealed important information during its initial public offering (IPO) filing. The Texas-based Bitcoin mining firm went public on Sept. 23, 2021, after submitting the required documents to the U.S. Securities and Exchange Commission (SEC). During its IPO, Argo issued…