Chastain, 33, was convicted of fraud and money laundering in federal court in New York in May. The conviction marked the end to what prosecutors called the first prominent NFT insider trading case. Chastain reaped more than $50,000 by buying and selling at least 45 NFTs he knew would be …
Read More »Privacy Mixer Tornado Cash Is an Entity, Judge Says
“It is undisputed that Tornado Cash uses smart contracts to provide a layer of privacy for its users by allowing them to deposit crypto assets in one wallet and then withdraw assets from a different wallet. Plaintiffs claim that as of 2020, the smart contracts are immutable, autonomous software applications …
Read More »Sam Bankman-Fried Pleads Not Guilty to Latest Indictment
Tuesday’s arraignment comes amid requests from the defense team to let Bankman-Fried meet with his attorneys and internet-enabled laptops at the U.S. Attorney’s office every weekday. Judge Lewis Kaplan, who is overseeing the case, ruled Monday that Bankman-Fried could meet with his attorneys until 3:00 p.m. EDT today at the …
Read More »Indian Crypto Exchange CoinDCX Is Cutting 12% of Jobs as Bear Market, Taxes Take Their Toll
The exchange is laying off 71 employees whose roles do not fit into current business priorities, a company spokesperson told CoinDesk on Tuesday. The Mumbai-based company, founded by Neeraj Khandelwal and Sumit Gupta in 2018, has about 590 employees. Several teams were affected by the job losses.
Read More »Prosecutors File Proposed Jury Instructions for Sam Bankman-Fried Trial
Prosecutors filed the document, titled «the government’s requests to charge,» late Monday, adapting from various previous sets of jury instructions including past statements from Judge Lewis Kaplan, the Southern District of New York judge overseeing Bankman-Fried’s case. The FTX founder faces seven different charges, ranging from wire, securities and commodities …
Read More »Bitcoin Developers Push Back Against Craig Wright’s Claim to Billions of Dollars in Bitcoin
Lawyers for 12 developers told the UK High Court that the company, Tulip Trading, never owned the 111,000 bitcoin it is trying to claim. The company, the developers allege, has “fabricated” documents to prove ownership of the tokens and fraudulently gain control over the funds. The Bitcoin Legal Defense Fund, …
Read More »Sam Bankman-Fried Due Back in Court as He Asks for Daily Releases
“The Government is left to guess whether it is the defendant’s assertion that he received legal advice relating to his deletion of Slack and Signal messages – a defense he alluded to at the August 11, 2023, conference … or that his fraudulent misappropriation of billions of dollars was somehow …
Read More »XRP Ruling Needs Appeals Court Review, SEC Says
«The rulings that the SEC seeks to appeal were legal determinations about the existence of investment contracts based on undisputed facts. The undisputed facts (e.g., Order at 23 (Programmatic Sales are ‘blind bid/ask transactions’)) present a legal question – can an issuer’s offers and sales on crypto asset trading platforms …
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