Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A St Petersburg court has seized €463mn worth of assets belonging to Italy’s UniCredit, the European lender with the second-biggest exposure to Russia, according to court documents. The seizure marks one of the biggest such…
In the Netherlands, open source developers are now liable for how their software is used. Alexey Pertsev, a 31-year old Russian national living in the Netherlands and one of the developers of the Ethereum-based privacy tool Tornado Cash, was today found guilty of money laundering by the Dutch court: he’s been sentenced to 64 months…
The class action was one of the many lawsuits brought against the company last year after the Terra-LUNA fiasco that wiped out billions of dollars as investors watched their funds vanish into thin air within a matter of days. A federal court in Singapore has denied an appeal to dismiss a class action suit filed…
At the time FTX filed for bankruptcy, the total amount of customer assets misappropriated was about $8.7 billion. A Delaware bankruptcy court has granted FTX’s administrators permission to sell the defunct exchange’s trust assets. The approval comes about four weeks after the administrators filed a motion requesting the sale of the assets as part of…
Do Kwon faces multiple fraud-related and civil allegations from US federal prosecutors. Eight months after his arrest, a court in Montenegro has finally ordered the extradition of Terra founder Do Kwon. Kwon was arrested in Podgorica, the capital city of Montenegro in March, after he was caught trying to flee to Dubai via private jet,…
A federal court may formalize the ruling on Grayscale’s ETF today, officially vacating the SEC’s refusal to convert the GBTC. A federal court is set to formalize Grayscale Investments’ victory over the United States Securities and Exchange Commission (SEC) over the firm’s conversion of the GBTC into a spot Bitcoin exchange-traded fund (ETF). Closing the…
The progress on the Grayscale conversion front offers a welcome degree of clarity to the ETF approval process, which had been somewhat murky. The crypto community has witnessed a significant milestone as recent reports indicate that the Securities and Exchange Commission (SEC) decided not to appeal a court ruling that could potentially pave the way…
In a significant development, the U.S. Securities and Exchange Commission (SEC) has decided not to appeal a recent court decision favoring Grayscale Investments’ Bitcoin ETF conversion plans, according to a report by Reuters. The decision, which comes after a legal battle and months of anticipation, may signal a shift in the regulatory landscape towards the…
WM Motor’s struggle highlights the challenges smaller companies and new startups face in China’s fiercely competitive EV market. China’s electric vehicle (EV) landscape is witnessing a significant development as WM Motor, a notable player in the industry, officially filed for bankruptcy protection in a Shanghai court. The announcement came through a notice published on China’s…
Grayscale Investments LLC, one of the world’s largest crypto asset managers, has secured an unexpected court win against the US Securities and Exchange Commission (SEC). A three-judge panel in DC’s Court of Appeals in Washington ruled that the SEC’s denial of Grayscale’s proposal was “arbitrary and capricious” in that the SEC failed to explain the…
Celsius Network filed for Chapter 11 bankruptcy protection in April 2022, hoping to restructure its debt and find a buyer for its assets. Celsius Network, the bankrupt crypto lending company, has taken a significant step forward in prioritizing the needs of its creditors. The company is currently seeking court approval to efficiently distribute payments to its…
The merger between Hut 8 and USBTC is not just a significant event within the crypto space, it also holds great promise for investors and the broader financial markets. In a recent development, Hut 8 Mining Corp (NASDAQ: HUT) has received final approval from the British Columbia Supreme Court for its merger with US Bitcoin…
According to the filing, the payments in question are characterized as “certain prepayments related to various advertising and sponsorship agreements, security deposits, retainers, and other miscellaneous deposits and prepayments.” In a recent court filing, the current management of the defunct FTX Derivatives Exchange has shed light on the intricate web of marketing and sponsorship deals…
Mashinsky had already put his Austin, Texas property that was acquired in 2021 with Celsius proceeds, on sale for about $2.49 million. The former Celsius Chief Executive Officer (CEO) Alex Mashinsky faces more financial hurdles after United States Judge Jed S. Rakoff ordered his assets to be frozen as the criminal case with the Department…
Velishchuk Listen below or on the go on Apple Podcasts and Spotify Grayscale wins court ruling over SEC’s denial of Bitcoin ETF; Coinbase (COIN) jumps. (00:28) Hurricane Idalia may lift construction stocks in shorter term: Citibank. (01:58) Planet Fitness (PLNT) expands pricing pilot to more states. (03:06) This is an abridged transcript of the podcast….
The court ruled that the SEC failed to provide sufficient evidence as to why Grayscale’s application to convert its Bitcoin Trust to a spot ETF was denied while the agency approved a futures ETF. The hopes for a regulated product that tracks the spot Bitcoin price in the United States were rejuvenated on Tuesday after…
Eoneren Grayscale Investments LLC got a green light from a federal court to launch the first Bitcoin exchange-traded fund in the US, a watershed moment in the cryptocurrency industry’s quest to tap billions of dollars from everyday investors. –Bloomberg News, on today’s GBTC ruling. After a lengthy court battle, the U.S. Court of Appeals ruled…
This move holds significant implications for the case as it introduces a new perspective to the legal proceedings. In a recent development, Judge Analisa Torres has granted permission for an investment banker declarant to make an appearance in the legal proceedings involving Ripple Labs Inc and the US Securities and Exchange Commission (SEC). The Role…
Aside from the Grayscale Bitcoin Spot ETF, the SEC is also reviewing other Bitcoin ETF proposals. The US Securities and Exchange Commission (SEC) is expected to announce its decision on the Grayscale Bitcoin Spot ETF this week, according to pundits. The Grayscale Bitcoin Spot ETF was filed by Grayscale Investments, the largest digital currency asset…
Robinhood had earlier motioned for the arguments against it to be completely dismissed. The federal appeals court of the United States has yet again dismissed a class-action lawsuit against online brokerage firm Robinhood Markets. This follows after 16 investors alleged that the platform did not allow them to buy 13 “meme stocks” during a January…
Apple is now legally allowed to keep its taxation policy. As Justice Elena Kagan has ruled, the latest petition filed by Epic Games against Apple is declined. US Supreme Court has granted Apple Inc (NASDAQ: AAPL) permission to keep its App Store payment rules. It means that a 30% tax imposed on application developers tapping…
Coinbase is now full of confidence as they approach the court and inch closer to a final ruling. The ongoing US Securities and Exchange Commission’s (SEC) lawsuit against Coinbase may be about to take a new turn. This follows after the defendant – Coinbase – confirmed that it will be filing an order to the same…
BlockFi’s eligible creditors can expect to receive a comprehensive Solicitation Package containing all the essential information for voting on the plan. Beleaguered cryptocurrency lending company, BlockFi, has obtained conditional approval to proceed with its restructuring plan. On August 2, the United States Bankruptcy Court for the District of New Jersey partially approved the company’s disclosure…
According to Alderoty, Ripple will handle any appeal the SEC decides to initiate even though he is confident in the judge’s previous ruling. Ripple Labs chief legal officer Stuart Alderoty has dismissed worries surrounding the possible outcome of a potential SEC appeal against the blockchain company’s win. According to Alderoty, the SEC could magnify its…