Signature Bank was under federal investigation for suspected money laundering by its crypto clients before the New York financial institution was taken over by state and federal regulators.
Disgruntled investors led by Edwin Garrison headed to court on the grounds that the endorsements from celebrities convinced them to use FTX, leading to the loss of funds.
As per the legal opinion of both the chairman of the Securities and Exchange Commission and the New York Attorney General, Ethereum, and most other tokens sold via ICO, are unregistered securities.
New York’s Attorney General is accusing the KuCoin digital asset exchange of violating state laws on selling unregistered securities, specifically singling out ETH as one of those securities.
The Silicon Valley Bank will now need assistance from the Federal Deposit Insurance Corp. to have any hope of making its depositors whole, although even Federal Government assistance has limits.
Under the plan, which was proposed in September 2022, CoinFLEX creditors will own 65% of the company, while Series A investors would lose their equity stakes. Series B shareholders will retain their status.
Mt. Gox trustee revealed that repayments to some creditors will start in a week and extend all the way to September; but will it deal a blow to BTC price?
The Securities and Exchange Commission and the New York Department of Financial Services had opposed the deal, the latter alleging Voyager had operated an unlicensed and illegal virtual currency business in New York.
Individuals behind the Tether and Bitfinex exchange reportedly “used falsified documents and shell companies” to ensure access to banking services as far back as 2017, according to the Wall Street Journal.
The complaint accuses Grayscale and Digital Currency Group of “brazen abuse of their control over nearly $19 billion of digital assets held in two trusts to enrich themselves at the expense of trust shareholders.”
Wall Street Journal recently reported on internal communications that poke larger holes in Binance’s repeated assertions that the Binance.US exchange is an independent entity.
John Pitts is back again with the latest twist in SLictionary, sharing it with Kurt Wuckert Jr. on the CoinGeek Weekly Livestream, where they also discussed the rampant crimes in the industry.
