Court
Binance Founder Changpeng Zhao Sentenced to Four Months in Prison
Changpeng “CZ” Zhao, the founder and former CEO of crypto exchange Binance, was sentenced to four months in jail on April 30 in Seattle after pleading guilty to anti-money laundering violations. With buzz-cut hair and a navy blue suit, Zhao learned his fate in court, accompanied by his son, nephew, mother, and sister. Last year, […]
Custodia Bank submits appeal notice in Federal Reserve case
Custodia Bank, a financial institution focused on providing account services for crypto firms, has taken legal action by filing a notice of appeal with the United States Tenth Circuit Court of Appeals. The move comes in response to a decision made by Judge Scott Skavdahl of the District Court for the District of Wyoming in […]
Terraform Labs & Do Kwon found liable for fraud in SEC Lawsuit
In a significant development in cryptocurrencies, a jury in the United States District Court for the Southern District of New York found Terraform Labs and Do Kwon liable for defrauding investors in crypto asset securities. In an April 5 announcement, SEC Enforcement Director Gurbir Grewal said jurors in the U.S. District Court for the Southern […]
Court Freezes 3AC Founders’ $1 Billion In Assets
A court in the British Virgin Islands has issued an order freezing about $1.14 billion in assets belonging to the co-founders of Three Arrows Capital (3AC). The court has banned co-founders Su Zhu and Kyle Davies, as well as Davies’ wife Kelly Chen, from selling or transferring the assets, according to the firm’s liquidator Teneo, […]
Blockchain Association Supports Tornado Cash Legal Challenge
Backing for six individuals suing the U.S. Treasury’s Office of Foreign Assets Control (OFAC) was increased by the Blockchain Association. This is due to the restrictions placed on the crypto mixer, Tornado Cash. A crypto support organization stated that OFAC should stick to its legal powers. They should punish wrongdoers, not freely accessible software resources. […]
FTX’s Sam Bankman-Fried Found Guilty Of All Seven Fraud Charges
A New York jury found Sam Bankman-Fried, the founder and former CEO of FTX exchange and Alameda Research, guilty of all seven counts of conspiracy, money laundering, and fraud. It was announced Thursday, following a five-week trial that thoroughly investigated the collapse of one of the largest crypto exchanges and its affiliated trading firm, which […]
Judge Denies SEC’s Request To Appeal Ripple Verdict
District court judge Analisa Torres rejected the SEC’s request to Ripple appeal. She stated that the regulatory body failed to present substantial grounds for a differing perspective. Furthermore, District Court Judge Analisa Torres has rejected the United States Securities and Exchange Commission’s (SEC) motion to appeal its loss against Ripple Labs. Ripple Labs, the company […]