John E. Deaton, a prominent attorney in the XRP community, expressed his frustration with the lack of effectiveness in addressing the US Securities and Exchange Commission (SEC) through letters to its Chairman, Gary Gensler. Deaton took to X (formerly Twitter) to announce his intention to write a letter to the Financial Services Committee (FSC) criticizing […]
SEC Chair Gary Gensler is facing threats of compulsory process if the agency does not comply with oversight requests from the House Committee on Oversight and Accountability by October 19. Chairman James Comer accused the SEC of obstruction and demanded full cooperation, warning of forced compliance if all requested documents are not provided. The letter […]
Genesis, a prominent crypto broker, has suspended customer withdrawals following a $175 million settlement with FTX, a bankrupt cryptocurrency exchange. This decision comes after Genesis announced in September that it would wind down its crypto trading business. The company has also filed for bankruptcy this year due to issues with customer withdrawals from Gemini Exchange. […]
A commissioner from the United States Commodity Futures Trading Commission (CFTC) has criticized Voyager Digital for its mishandling of customer funds, resulting in the loss of billions of dollars. Commissioner Kristin Johnson accused Voyager of misleading practices, neglecting warning signs, and failing to conduct proper due diligence to protect customers. She stated that Voyager turned […]
Former CEO of Miami-based investment firm, Peter Kambolin, has pleaded guilty to a conspiracy to commit commodities fraud involving crypto futures contracts. The United States Department of Justice revealed that Kambolin operated a “cherry picking” scheme, misleading investors by marketing his firm as offering algorithmic trading strategies involving futures contracts, including cryptocurrencies and commodities. However, […]
The US Commodity Futures Trading Commission (CFTC) has filed a complaint against Voyager Digital and its former CEO, Stephen Ehrlich, alleging fraud and registration failures. The CFTC claims that Ehrlich falsely marketed the Voyager platform as a safe haven for high-yield returns, deceiving customers into purchasing and storing digital assets. The lawsuit seeks penalties including […]
Amid the ongoing legal battle between the US Securities and Exchange Commission (SEC) and Binance, a significant development has emerged involving Circle, the issuer of stablecoin USD Coin (USDC). Circle has been granted permission to provide its perspective on the lawsuit as an amicus curiae, or “friend of the court.” District Judge Amy Berman Jackson […]
James Comer, chair of the United States House of Representatives Oversight and Accountability Committee, has threatened Securities and Exchange Commission (SEC) chair Gary Gensler with a subpoena. Comer expressed concern about SEC’s actions to circumvent Congress and harm American taxpayers. The issue at hand is the SEC’s coordination with the European Union (EU) on environmental, […]
United States supermarket chain Trader Joe’s has filed a complaint against decentralized exchange Trader Joe, accusing it of federal trademark infringement and dilution. The lawsuit claims that Trader Joe and its co-founder Cheng Chieh Liu used the supermarket’s ideas and narrative for one of the platform’s fictional characters, as well as a similar name and […]
Ripple’s recent legal victory against the US Securities and Exchange Commission (SEC) has had significant implications for its cryptocurrency, XRP. The ruling by Judge Analisa Torres classified XRP as a non-security, providing much-needed clarity for the token in the US. Ripple’s Chief Legal Officer, Stuart Alderoty, highlighted this unique status in an interview with CNBC. […]
