Report: Do Kwon Successfully Formed a Company in Serbia Weeks After Interpol Issued Red Notice

According to a report, the recently arrested Terraform Labs co-founder Do Kwon was able to register a company in Serbia just a few weeks after Interpol issued a Red Notice for him. Lawyers that helped Kwon form a company in Serbia reportedly said they were not aware of Interpol’s Red Notice against their client. Do [...]

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Law firm Vedder Price announces first Bitcoin ETF registered under the Securities Act

Vedder Price, a global commercial law firm with offices in the United States, United Kingdom and Singapore, has launched a novel bitcoin exchange-traded fund (ETF) that’s unlike other existing Futures ETFs, according to a news release the firm shared with Invezz.

On Wednesday, Vedder Price revealed it had helped unveil Hashdex Bitcoin Futures ETF – the first futures-backed Bitcoin ETF exclusively registered and regulated under the US Securities Act of 1933. The registration puts the new ETF apart from other BTC futures ETFs whose registration and regulation is under the Investment Company Act of 1940, the law firm noted.

The Fund has obtained approval from the US Securities and Exchange Commission (SEC) and will list on the NYSE Arca after the securities agency accelerated its registration.

Teucrium Trading, which specialises in offering investors a range of ETFs targeted at exposure to alternative markets including in commodities, sponsored the fund. Vedder Price, through Shareholder Tom Conner, helped secure the necessary regulatory approvals needed to launch the ETF – including from the National Futures Association.

Veder Price explained the process followed to achieve the SEC approval:

“The first necessary regulatory approval was obtaining stock exchange listing authority from the SEC. The SEC granted approval based in part on arguments that the bitcoin futures market has grown and matured to the extent that its surveillance agreement with the Fund’s listing exchange (NYSE Arca) can reasonably be expected to identify trading abuses.”

While the SEC is yet to approve of a spot Bitcoin ETF, Veder Price says the approval could have “broad industry implications.” Indeed, the firm envisages the potential for this ETFs approval to be a watershed moment not just for similar ETF applications, but also signals the possibility of a spot Bitcoin ETF.

Accordingly, fund sponsors contend that the approval of Hashdex Bitcoin Futures ETF “may open the door for a spot bitcoin ETF because a spot bitcoin ETF would be governed under the same rules as the Fund.”

The SEC has denied numerous spot Bitcoin ETFs, and as we reported in June, the chances for one have looked slim. Meanwhile, the watchdog has allowed a number of Futures-backed ones (including the ProShares Bitcoin Strategy ETF).

The post Law firm Vedder Price announces first Bitcoin ETF registered under the Securities Act appeared first on Invezz.

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Law Firm Pleads with Shaquille O Neal to Acknowledge Legal Complaint

The Moskowitz Law Firm has made a public plea to Shaquille O’Neal to acknowledge its legal complaint on behalf of FTX investors regarding his previous endorsement of the now-defunct crypto exchange. The firm has been standing outside TNT studios in Atlanta all week to serve him, but his security guards have not allowed them in. O’Neal is the only one among the FTX celebrities who has not yet been served. (Read More)

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Do Kwon’s Terraform Sent $7 Million to Law Firm Before Collapse, Report Unveils

Prosecutors investigating failed blockchain firm Terraform Labs have found out that its Singapore office sent millions of U.S. dollars to lawyers just before the crash of its cryptocurrencies. According to Korean media, the transfers suggest that co-founder Do Kwon was aware of the imminent collapse. Terraform Labs Transferred Large Amounts of Money to South Korean [...]

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Terraform Labs CEO Sends Millions to Law Firm Before Collapse

Terraform Labs CEO, Do Kwon, sent millions to a South Korean law firm right before the company's collapse. Prosecutors believe Kwon's actions were deliberate and prove his awareness of the impending collapse and anticipated legal problems. Kwon is currently facing extradition to both the United States and South Korea, and prosecutors suspect he converted illegal funds from Terra to Bitcoin. Prosecutors have identified over $314 million in illicit assets associated with Kwon and his associates. (Read More)

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FTX's bankruptcy lawyers and advisors pocket $32.5M in February

The reimbursement expenses for FTX’s massive team of legal professionals are just as exorbitant in February as they were the previous month.

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Crypto influencer named in FTX lawsuit served via tweet

A law firm backing an FTX investor suit tagged a crypto influencer in a tweet to serve its lawsuit.

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FTX advisors billed the bankrupt firm for a whopping $103M in Q1

After Sullivan & Cromwell, consulting firm Alvarez & Marsal billed the second largest amount for its finance and accounting work.

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