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Terraform Labs Co-founder Faces Legal Proceedings: Trial Preparations Underway
11.7.2023
Legal proceedings have been initiated against Shin Hyun-Seong, also known as Daniel Shin, concerning charges concerning alleged illicit profits from the sale of Terra (LUNA) tokens.
The co-founder of Terraform Labs, Daniel Shin, was indicted in South Korea on April 25 in connection with...
Legal proceedings start for Terraform Labs co-founder in South Korea: Report
10.7.2023
Terra co-founder Do Kwon is currently in custody in Montenegro, while Daniel Shin's trial preparations in South Korea are reportedly underway
Voyager Digital’s Bankruptcy Battle Racks Up Millions in Legal Expenses
4.7.2023
A recent court filing from the now-insolvent Voyager Digital Holdings and its creditor committee revealed that legal expenses amounting to $16.5 million have accumulated from July 22, 2022, through May 18, 2023. The records indicate that between March and May 2023, roughly $5.17 million in legal...
FTX Spent Over $120 Million on Advisory Fees in Just Three Months as Bankruptcy Proceedings Continue
20.6.2023
The bankrupt crypto exchange FTX is facing escalating legal and advisory costs, recent filings submitted by the exchange’s bankruptcy advisors have revealed.
Judging from information in the filings, FTX's advisors billed the exchange a staggering $121.8 million in fees and expenses for the period...
Bittrex US Allows Fiat and Crypto Withdrawals Amid Bankruptcy Proceedings
17.6.2023
Bittrex US, the now-defunct cryptocurrency exchange in the United States, has recently introduced a plan that permits American customers to withdraw crypto and fiat from the platform, provided they satisfy the required regulatory criteria. This withdrawal arrangement was approved on Tuesday by...
SBF seeks to sever new charges from trial, says proceedings may take 'years'
13.6.2023
The U.S. cannot try Sam Bankman-Fried for the charges until a lengthy appeals process in The Bahamas has been exhausted, defense attorneys stated
Judge Upholds Confidentiality of FTX Customers’ Identities, Citing Security Concerns
10.6.2023
In the FTX bankruptcy case, the presiding judge John Dorsey has ruled to maintain the confidentiality of individual customer identities, according to a recent decision on Friday. Dorsey emphasized the importance of safeguarding these clients, expressing concern for their potential vulnerability...
US Justice Department Objects to Bittrex’s Plan To Repay Customers in Bankruptcy Proceedings
8.6.2023
The US Department of Justice objected to a proposal by crypto exchange Bittrex to return money to customers as part of its liquidation plan.
Bittrex filed for bankruptcy in May in a federal court in Delaware after facing scrutiny from both the Justice Department and the US Securities and Exchange...
Binance Faces Legal Action by SEC for Violating US Securities Laws
5.6.2023
The U.S. Securities and Exchange Commission (SEC) took legal action against Binance, the largest cryptocurrency exchange globally, for violating U.S. securities laws. Gary Gensler, the chairman of the SEC, revealed that Binance is facing thirteen charges related to these violations. Binance...
Increasing number of divorce proceedings involve crypto
1.6.2023
Lawyers say they are seeing an increasing number of divorce settlements featuring digital assets
Terraform Labs CEO Do Kwon Denied Bail by Montenegrin High Court; Extradition Requests Loom
24.5.2023
A Montenegrin high court judge has reportedly invalidated the bail application of Do Kwon, the co-founder of Terraform Labs. Kwon was detained for providing false identification while boarding a flight to Dubai alongside a companion on March 23, 2023. Terraform Labs Co-Founder’s Bail Request...
Wife finds husband’s Bitcoin stash amid divorce proceedings
21.5.2023
The woman initially suspected that her husband — who earned $3 million per year — did not reveal all his assets, which would get split between the two during the divorce
Crypto Exchange QuadrigaCX Former Users Set to Receive 13% on the Dollar in Bankruptcy Proceedings
14.5.2023
Former users of now-bankrupt Canadian crypto exchange QuadrigaCX are set to receive 13% of their total claims.
According to a notice to creditors published late Friday by accounting giant Ernst & Young (EY), each creditor of the exchange will receive "13.094156% of their proven claim less the levy...
Bittrex Processed $425 Million in Withdrawals Since April 1, Claims Attorney Amid Bankruptcy Proceedings
11.5.2023
The US and Maltese arms of crypto exchange Bittrex have processed $425 million in withdrawals since the platform announced plans to wind down US operations.
On Wednesday, Bittrex attorney Susheel Kirpalani reportedly told a Delaware bankruptcy court that the firm had not engaged in any negative...
Seoul Court Greenlights Seizure of Do Kwon’s Assets Worth $176 Million
11.5.2023
According to a local report, South Korean prosecutors have been given the green light by the Criminal Division of the Seoul Southern District Court to seize assets owned by Do Kwon, the co-founder and former CEO of Terraform Labs. The report discloses that a total of 233.3 billion won ($176...
Coinbase Shares Wells Response, Challenges SEC’s Change in Attitude Towards Its Core Businesses
28.4.2023
On April 27, Coinbase, the crypto exchange based in San Francisco, made public the disclosure of its response to the Wells notice it had received from the U.S. Securities and Exchange Commission (SEC) back in March. The company maintained that the regulatory body’s enforcement actions were...
Former FTX CEO Sam Bankman-Fried Faces New Bribery Charges for Alleged Crypto Payment to Chinese Officials
28.3.2023
Sam Bankman-Fried (SBF), the former CEO of FTX, now faces a 13-count indictment as U.S. officials have added new charges. One of the new charges alleges that SBF leveraged $40 million to influence “one or more Chinese government officials.” Details of the Bribery Charges Against...
Coinbase Severs Ties With Silvergate Bank Amidst JPMorgan Downgrade and Delayed SEC Filing
2.3.2023
On March 2, 2023, the cryptocurrency exchange Coinbase announced that, in light of recent developments, the company is “no longer accepting or initiating payments to or from Silvergate Bank.” The news follows the crypto bank’s delay of its annual 10-K filing with the U.S....
Report: Former FTX Director of Engineering Nishad Singh Negotiating Plea Deal with Prosecutors
18.2.2023
Another member of Sam Bankman-Fried’s inner circle allegedly plans to plead guilty to criminal charges for his role in the alleged fraud that occurred at the cryptocurrency exchange FTX. According to unnamed sources familiar with the matter, Nishad Singh, FTX’s former director...
Bankman-Fried Remains Out on Bond, but Judge Warns ‘Revocation’ Proceedings Possible in Future
16.2.2023
Sam Bankman-Fried remains out on bail, but the New York judge overseeing his criminal fraud case said that could change if the former FTX CEO continues to defy the bail conditions set by the court