Bitcoin Firm Coinbits Suspends Operations Amidst Custodian Prime Trust’s Financial Woes

The cryptocurrency firm and bitcoin investment app, Coinbits, has announced the suspension of its services due to complications involving the Nevada-based custodian, Prime Trust. Following accusations of insolvency and breaches of fiduciary responsibilities, Nevada’s financial regulators mandated the closure of Prime Trust. Despite these challenges, Coinbits maintains confidence that the custodian “still has enough bitcoin [...]

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Nigeria Launches $81.5 Billion Lawsuit Against Binance and Coinbase Executives: Legal Troubles Unfold in Law Decoded

Nigeria Initiates Legal Action Against Binance and Coinbase Executives Recently, Nigeria has taken legal action against top executives from Binance and Coinbase, two prominent cryptocurrency exchanges. This move comes as part of the government’s crackdown on digital assets and their associated platforms. According to reports, the lawsuit is based on alleged illegal activities related to [...]

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Tether files lawsuit against Swan Bitcoin over joint venture dispute

Tether confirmed to Cointelegraph that it had sued Swan Bitcoin over alleged contract breaches in a joint Bitcoin mining venture.

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Silvergate Bank Faces Regulatory Deadline for Self-Liquidation Plan

In a recent press release from the U.S. Federal Reserve Board of Governors, it was disclosed that Silvergate Bank has been given a ten-day deadline to submit a plan outlining its self-liquidation procedure and the systematic cessation of operations. This order from the central bank comes in the wake of Silvergate’s declaration of voluntary liquidation [...]

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