A U.S. judge denied the request to consolidate, saying that the defendants had not had the opportunity to respond. A federal judge has refused to consolidate several proposed class-action lawsuits against the FTX exchange by investors. According to the judge, the exchange and its defendants have not yet been heard.  Excerpt from the order denying...Continue Reading

Jimmy Fallon wants out of the BAYC trademark case while Blur is responsible for the NFT market’s 3-month high. Lawyers of Jimmy Fallon, star of NBC’s long-running comedy and variety series The Tonight Show, have filed a petition to “quash” a subpoena requiring him to testify in the Yuga Labs Inc. v. Ripps et al....Continue Reading

Sam Bankman-Fried’s lawyers said they’re still waiting on evidence from federal prosecutors and as a result need more time to prepare a defense. Lawyers representing FTX founder Sam Bankman-Fried have flagged it may be necessary to delay the criminal trial for the former crypto exchange executive — to give him more time to prepare his...Continue Reading

The demise of the crypto-friendly bank has prompted discussion about who tipped the first domino, and where crypto firms can turn for their banking needs. The voluntary liquidation of crypto-friendly bank Silvergate has sparked many to share their thoughts about the source of its troubles and the broader impact of the bank’s collapse on crypto. ...Continue Reading

In the tug-of-war between the US regulators over control of crypto assets, the CFTC chair has triple-downed his stance — that Ether and stablecoins are commodities. Stablecoins and Ether (ETH) are commodities and should come under the purview of the United States Commodity Futures Trading Commission (CFTC), its chairman has again asserted at a recent...Continue Reading

The Biden administration wants to apply the wash sale rule to digital assets. U.S. President Joe Biden’s upcoming budget proposal has a few surprises for crypto traders and investors, including a proposed doubling of capital gains and a crackdown on crypto wash sales.  The Biden administration is set to release its fiscal 2024 budget plan...Continue Reading

Co-founder Rodriguez and senior promoters Millan, Aguilar and Chairez all recently pled guilty to the charges, while the other founder, Dos Santos pled guilty in October, 2021. Six people involved in a cryptocurrency “Ponzi scheme” that raked in about $100 million over five years have pled guilty to a series of fraud and money laundering...Continue Reading

The decision to end its loan facilities with Silvergate Bank follows a shift in Marathon’s long-term financial strategy to build liquidity. Bitcoin mining firm Marathon Digital has paid off its term loan and terminated its credit facilities with crypto-friendly Silvergate Bank, just as the bank announced it will be winding down operations. Marathon announced on...Continue Reading