Binance and the U.S. Securities and Exchange Commission (SEC) have jointly filed a motion to put their lawsuit on hold. This step is taken due to the SEC’s cryptocurrency working group potentially intervening in the lawsuit process. According to Fox Business reporter Eleanor Terrett, this was the first request to
Pump.fun is making headlines again for receiving a cease and desist letter by Burwick Law and Wolf Popper. This is because some meme coins on the platform use law firm logos and names without any official permission. Pump.fun is Solana’s meme coin launchpad used to create and launch meme coins.
FTX has settled with K5 Global, resolving a lawsuit that sought to recover $700 million in disputed investments. The bankrupt crypto exchange had sued K5 in June 2023 as part of efforts to reclaim funds before its collapse in November 2022. The settlement will allow FTX to retain its stake
Pump.Fun, the memecoin launchpad and trading platform, is in some serious trouble. The platform received a class action lawsuit for violating U.S. securities laws. Its allegations include Pump.fun offering and selling risky unregistered securities to users. And, it made approximately $500 million from fees. The lawsuit was filed by Diego
Senator Cynthia Lummis has filed an amicus brief backing Coinbase’s legal battle with the U.S. Securities and Exchange Commission (SEC). The Wyoming Republican accuses the agency of overstepping its authority and undermining Congress’s regulatory role. Lummis criticized the SEC’s enforcement-driven approach under former Chair Gary Gensler. She described it as
OTPP Faces Lawsuit Over FTX Losses An Ontario Teachers’ Pension Plan (OTPP) member has filed a lawsuit against the board, alleging improper due diligence in its $95 million investment in FTX, now defunct. The claim, filed in Ontario Superior Court, targets two investments in FTX, the cryptocurrency exchange, citing a
The U.S. Securities and Exchange Commission (SEC) has disbursed $4.6 million to investors affected by BitClave’s 2017 unregistered initial coin offering (ICO). The payout follows a settlement reached in 2020, where BitClave agreed to repay the $25.5 million raised during its ICO, in addition to paying $4 million in penalties
Eighteen Republican-led states have filed a lawsuit against the Securities and Exchange Commission (SEC), accusing the agency of overstepping its authority in regulating the $3 trillion crypto industry. They argue that, as a result of the SEC’s enforcement tactics, their rights to manage economic policies are being infringed. Furthermore, the
The U.S. Securities and Exchange Commission (SEC) is seeking to dismiss critical defences raised by crypto exchange Kraken in an ongoing lawsuit. In a motion filed in the Northern District Court of California, the SEC argued Kraken had received sufficient notice of potential securities violations. The legal team, however, labelled
Binance and its former CEO, Changpeng “CZ” Zhao, have filed a motion to dismiss the SEC’s amended complaint against them. The motion, submitted on Nov. 4, accuses the SEC of failing to provide clear regulatory standards for the crypto industry. Binance’s legal team contends that the SEC’s approach contradicts a
