SBF family linked to $100M FTX scandal, legal trouble looms

According to emails seen by the WSJ, Sam Bankman-Frieds family allegedly funneled millions from FTX to political causes, raising significant legal questions.

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Riot subsidiary Whinstone US sues former JV partner over revenue flow

The partners at the Texas facility had troubled relations almost from their start in 2020.

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Binance.US prepared for SEC legal showdown

Binance.US is gearing up for an extended legal battle with the SEC, emphasizing its commitment to compliance and criticizing the agencys enforcement tactics.

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Elon Musks X could face $200M EU fines over alleged DSA violations: Law Decoded

Elon Musks social media platform, X, is under scrutiny for alleged DSA violations, with potential fines reaching $200 million.

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Meta faces backlash in EU for AI data usage without user consent

The complaints claimed that Metas recent privacy policy changes would allow the company to utilize years of personal posts, private images and online tracking data for its AI technology.

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Nigerian High Court dismisses Binance execs suit over detention

Nadeem Anjarwalla escaped prison and traveled to Kenya, and his colleague will press his rights claims in court next month.

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Robinhood crypto business slapped with SEC Wells notice

The SEC is planning to file an enforcement action against Robinhoods cryptocurrency business, according to the Wells notice.

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US Federal Prosecutors Investigate Block Inc. for Compliance Violations

US federal prosecutors are conducting an investigation into Block Inc., the fintech company founded by Twitter co-founder Jack Dorsey. The investigation follows allegations of compliance violations at Block's payment arms, Square and Cash App. A whistleblower has provided documents showing that Block processed transactions for users in countries subject to economic sanctions and facilitated crypto transactions for terrorist groups. The company is accused of failing to address these breaches despite being alerted to them. (Read More)

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SEC dismisses securities violation case against Helium

The U.S. Securities and Exchange Commission (SEC) has rejected a lawsuit against Helium, a blockchain-powered network for the Internet of Things (IoT). The lawsuit alleged that Helium’s native token, HNT, was a security and required registration with the SEC. However, the SEC’s dismissal of the lawsuit is a positive outcome for Helium and the crypto [...]

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US Court of Appeals Reverses Lower Courts Ruling in Favor of Binance

The United States Court of Appeals has reversed a lower court’s ruling dismissing U.S.-based users’ damages claim against Binance. Aggrieved users will once again attempt to prove that their claims do not constitute an “impermissible extraterritorial application” of U.S. securities law. ‘Impermissible Extraterritorial Application’ of Securities Law The U.S. Court of Appeals has revived a [...]

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Binance Crypto Withdrawals Spike Before CFTC Accusations

Almost a billion dollars in cryptocurrency was withdrawn from Binance shortly before the US CFTC accused the exchange of regulatory violations. The total amount withdrawn from multiple platforms in the 12 hours preceding the indictment was almost $1.5 billion, with over half of that amount coming from Binance. Despite the withdrawals, Binance still holds over $63 billion worth of cryptocurrency assets. (Read More)

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Binance Sued by CFTC for Alleged Violations of Trading and Derivatives Rules

The world’s largest crypto exchange by trade volume, Binance Holdings Ltd., has been sued by the U.S. Commodity Futures Trading Commission. Binance CEO Changpeng Zhao has been named in the lawsuit and the charges claim the crypto exchange broke several trading and derivatives rules. The lawsuit also names Binance’s former chief compliance officer, Samuel Lim, [...]

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South Korean Court Clears Former Terraform Labs CEO of Security Violations

A South Korean court dismissed charges of security violations against former Terraform Labs CEO Hyun-seong Shin, ruling that LUNA is not a security under the country's Capital Markets Act. The court rejected the prosecution's appeal for confiscation of Shin's properties and arrest, and stated that Luna is not a financial investment product regulated by the act. However, the prosecution has appealed to the Supreme Court against the verdict of the lower district court. (Read More)

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SEC Revokes License of ParagonCoin Crypto Startup

ParagonCoin, a crypto startup backed by rapper The Game, had its license revoked by the SEC for violating securities laws by failing to file periodic reports. The startup had held a $70 million initial coin offering in 2017, and in 2021, was found liable for more than $12 million in a class-action lawsuit. Meanwhile, other rappers like Snoop Dogg and Eminem are entering the Web3 space with NFTs and new startups. (Read More)

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SBF's Dark Money Contributions Prompted FEC Investigation

A watchdog wants Sam Bankman-political Fried's contributions investigated. The former FTX CEO acknowledged to illegally giving millions to Republicans. CREW filed the FEC complaint on December 8. (Read More)

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US CFTC Charges Crypto Futures Exchange Digitex for Registration and Trading Violations

The CFTC has filed civil charges against Digitex exchange and its CEO for running a fraudulent crypto futures platform and over other multiple violations. (Read More)

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Crypto Exchange Bitmex’s Founders Plead Guilty to Bank Secrecy Act Violations – Regulation Bitcoin News

The founders of cryptocurrency derivatives exchange Bitmex, Arthur Hayes and Benjamin Delo, have pled guilty to violations of the U.S. Bank Secrecy Act. “As a result of its willful failure to implement AML and KYC programs, Bitmex was in effect a money-laundering platform,” said the U.S. Department of Justice. Bitmex’s Founders Guilty of Bank Secrecy […]

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Nasdaq Halts Crypto Custody Plans Amid Tough US Regulatory Environment

Adena Friedman, CEO of Nasdaq, the international securities marketplace, announced that the firm is postponing its cryptocurrency custody plans due to the United States’ “regulatory environment.” During a Q2 earnings call, Friedman disclosed that Nasdaq aimed to launch the service last quarter, but it has been put on hold. U.S. ‘Regulatory Environment’ Forces Nasdaq to [...]

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Bittrex Faces Potential Legal Action from US SEC

Bittrex, a US-based cryptocurrency exchange, may face legal action from the US Securities and Exchange Commission (SEC) over alleged violations related to investor protection, despite preparing to shut down its local operations. (Read More)

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Meta Urged to Halt Metaverse App for Minors

Advocacy groups, including Airplay and Common Sense Media, have written to Meta CEO Mark Zuckerberg calling for the company to halt its plans to allow minors onto its metaverse app, Horizon Worlds. They argue that Meta must first assess the potential risks of allowing youth on the app, citing concerns around harassment and privacy violations. (Read More)

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