a16z, OpenSea and Stand With Crypto have launched a $6 million creator defense fund. OpenSea has pledged $5 million and a16z $1 million. The fund will support the NFT market, with this coming weeks after SEC issued a Wells Notice against OpenSea. Venture capital firm Andreessen Horowitz is collaborating with NFT marketplace OpenSea and Coinbase-backed…
The United States Securities and Exchange Commission (SEC) has expanded its lawsuit against Binance. The updated legal filings now include a wider range of tokens, with Axie Infinity among those listed as securities. In the latest update to the SEC v. Binance lawsuit, the regulator has accused Binance and its US affiliate, BAM Trading, of…
The SEC sued Kraken in the Northern District of California last November asking the court to permanently enjoin the exchange from further securities violations, seeking disgorgement of its “ill-gotten gains” and other civil penalties. The regulator listed ADA, ALGO, ATOM, FIL, FLOW, ICP, MANA, MATIC, NEAR, OMG, and the SOL tokens as the 11 unregistered…
IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24 IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24 IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24 IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24 IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24…
The U.S. Securities and Exchange Commission (SEC) is signaling potential objection to FTX’s proposed plan to repay creditors with stablecoins. In a new official court filing, the SEC acknowledges that FTX’s Chapter 11 repayment plan may not be illegal while maintaining that the regulatory agency has the right to challenge any transactions involving crypto. “The…
TL;DR Ripple was ordered to pay a $125 million fine, significantly lower than the US SEC’s initial demand, with both parties able to contend until early October. Lawyer Bill Morgan now sees a reduced chance (45%-55%) of an appeal form the Commision, based on recent case developments and favorable views on Judge Torres’ ruling. The…
US District Judge William H. Orrick has ruled that the US Securities and Exchange Commission has a plausible case against crypto exchange Kraken. According to the judge, the SEC’s lawsuit against Kraken will proceed. The US Securities and Exchange Commission’s lawsuit against crypto exchange will proceed, a judge has ruled. On Friday, August 23, 2024,…
According to a report by Sarah Wynn for The Block, Nasdaq ISE, LLC has officially withdrawn its proposals to list and trade options on spot Bitcoin and Ethereum exchange-traded funds (ETFs). The notices were filed on the U.S. Securities and Exchange Commission’s (SEC) website, indicating that Nasdaq ISE withdrew these proposals on Tuesday. Nasdaq ISE…
The long-awaited conclusion to the settlements phase of the trial passed with a much smaller fine than the SEC had requested. U.S. District Court Judge Analisa Torres for the Southern District of New York (SDNY) decided on a sum just a little over $125 million— instead of the $2 billion fine the SEC wanted. Investors…
“Rather, the Court finds that Ripple’s willingness to push the boundaries of the Order evinces a likelihood that it will eventually (if it has not already) cross the line,” she said. “On balance, the Court finds that there is a reasonable probability of future violations, meriting the issuance of an injunction.” Source link