The co-founders of the blockchain gaming platform Gala Games, Wright Thurston and Eric Schiermeyer, have filed lawsuits against each other in a Utah District Court. Schiermeyer claims that Thurston stole $130 million worth of GALA tokens at the beginning of 2021, while Thurston claims Schiermeyer has been wasting company assets and borrowing money from Gala […]
The co-founders of the blockchain gaming platform Gala Games, Wright Thurston and Eric Schiermeyer, have locked horns in court. Thurston, through his investment company True North United Investments, is accused of stealing $130 million worth of GALA tokens. Schiermeyer is suing Thurston for the return of the tokens and for him to step down from […]
Ripple Labs has filed a reply in opposition to the Securities and Exchange Commission’s (SEC) request for an interlocutory appeal against Judge Torres’ ruling in favor of Ripple Labs. Ripple argued that the SEC does not have the right to an appeal as the “exceptional circumstances” required for it are absent. The SEC had argued […]
A class action lawsuit against the creators of HelbizCoin has been allowed to proceed by a United States District Court, as per a court ruling filed on Sept. 1. The lawsuit was first brought against Helbiz, its CEO Salvatore Palella, and its partners in 2020, with an amended complaint filed in March 2022. The case […]
Ripple has filed a motion requesting the court to deny the SEC’s certification request for an immediate appeal of a recent court ruling that went against the regulator in its case against the firm. The court ruled in July that automated open market sales of Ripple’s cryptocurrency XRP to the general public did not constitute […]
FTX, a bankrupt crypto exchange, has recently moved $10 million worth of digital assets from the Solana network to Ethereum, raising concerns that it could be the beginning of a series of token dumps. According to blockchain analytics platform Arkham Intelligence, the FTX wallet has transferred $6.23 million worth of Ether and more than $4 […]
Ripple Labs, the entity behind the XRP cryptocurrency, has not yet initiated the process for an initial public offering (IPO). However, back in 2022, Ripple’s CEO, Brad Garlinghouse, indicated to CNBC that the company would consider the possibility of an IPO once its legal battle with the Securities and Exchange Commission concluded. Ripple’s recent legal […]
The U.S. Court of Appeals for the D.C. Circuit recently ruled in favor of digital asset management company Grayscale Investments in its lawsuit against the Securities and Exchange Commission (SEC). The court ordered the agency to review its rejection of Grayscale’s application to turn its flagship Grayscale Bitcoin Trust fund (GBTC) into a spot Bitcoin […]
Amidst speculation regarding a potential resolution between Ripple and the United States Securities and Exchange Commission (SEC), attorney John Deaton, representing numerous XRP token holders, has outlined the possible steps the two parties might take if they opt for a settlement. Deaton pointed out the significance of the ongoing Coinbase vs. SEC lawsuit, explaining that […]
FTX Debtors have recently revealed a series of financial statements that show any transactions that benefited company executives prior to the major cryptocurrency exchange’s collapse in November 2022. The filing with the United States Bankruptcy Court for the District of Delaware disclosed payments or property transfers that directly benefited senior company executives at FTX and […]
