Court Cases | ForkLog

ForkLog 17 28.02.2024

Lawyer Seeks 6.5-Year Sentence for Sam Bankman-Fried

Mark Mukasey, the attorney for FTX founder Sam Bankman-Fried (SBF), petitioned the court to impose a sentence ranging from 63 to 78 months for his client. “A suitable method for delivering a fair decision would be to consider the adjusted offense level (intermediate result), which is 56, reduced by 30 levels, based on zero damage. […]

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ForkLog 20 28.02.2024

Investors Renew Class Action Lawsuit Against Ripple

Another lawsuit has been filed against fintech company Ripple and its CEO, Brad Garlinghouse, over alleged violations of securities laws. This class action complaint continues a legal initiative started by investors back in January 2020. In a statement submitted to the Northern District of California court, the plaintiffs request recognition of violations of federal and […]

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ForkLog 15 26.02.2024

Kazakhstan Confiscates 408,000 USDT from Pyramid Scheme Organizer

A court in Astana has tried the organizer of the local branch of the cryptocurrency pyramid scheme Eolus, as reported by the AFM. According to the case materials, in 2023, the accused registered LLP “ENERGY EOLUS QAZAQSTAN” with the aim of attracting investments in renewable energy sources, allegedly located in the United States. The agency […]

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ForkLog 19 24.02.2024

Former FTX Executive Ryan Salame to Be Sentenced in May

On May 1, Judge Lewis Kaplan of the Southern District of New York will sentence Ryan Salame, the former CEO of FTX’s Bahamian division. This was reported by Cointelegraph, citing court documents. In September 2023, Salame pleaded guilty to criminal charges related to the collapse of the cryptocurrency exchange. The charges include conspiracy to make […]

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ForkLog 10 24.02.2024

US Court Approves Binance’s $4.3 Billion Settlement with Justice Department

A federal court in the Western District of Washington has approved a $4.3 billion payment by cryptocurrency exchange Binance to the US Department of Justice as part of a plea agreement. This was reported by Bloomberg. According to the signed memorandum, the platform has agreed to implement significant measures to ensure ongoing compliance with US […]

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ForkLog 20 23.02.2024

Riot Platforms Sues U.S. Department of Energy Over Data Collection

The mining company Riot Platforms and the industry group Texas Blockchain Council (TBC) have filed a civil lawsuit demanding a halt to the “emergency data collection” by authorities from the association’s members. The defendants are the U.S. Department of Energy, the Energy Information Administration (EIA) within the department, and the Office of Management and Budget […]

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ForkLog 27 23.02.2024

Kraken Challenges SEC Lawsuit as a ‘Dangerous Precedent’

The cryptocurrency exchange Kraken has filed a motion to dismiss a lawsuit by the SEC, arguing that the case could set a “dangerous precedent” for the regulator’s authority. In November 2023, the Commission accused the company of offering unregistered securities in the form of digital tokens on its platform. The agency also alleged that Kraken […]

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ForkLog 12 22.02.2024

Montenegro to Extradite Do Kwon to the United States

The High Court of Podgorica has decided to extradite Terraform Labs co-founder Do Kwon to the United States, according to Vijesti. The court rejected a similar request from South Korean authorities. The ruling is not legally binding, as Kwon’s lawyers have the right to appeal. “We have received the decision of the High Court of […]

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ForkLog 16 21.02.2024

Former Celsius CEO to Engage Lawyers of Sam Bankman-Fried

Former Celsius CEO Alex Mashinsky plans to rely on the same legal team as FTX founder Sam Bankman-Fried in court. Former Celsius CEO Alex Mashinsky said he was comfortable using the same lawyers as FTX founder Samuel Bankman-Fried to defend him against charges that he pumped up the price of his firm’s cryptocurrency https://t.co/pxxhxKkYZ6 — […]

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ForkLog 21 19.02.2024

Australian Officer Accused of Stealing Seized 81.6 BTC

The Melbourne court is examining the case of former federal police officer William Wheatley, accused of stealing bitcoins confiscated from a drug syndicate. This was reported by CryptoPotato. In January 2019, police investigated the illegal trade of drugs and steroids via the darknet and seized, among other things, a Trezor hardware wallet containing 81.6 BTC. […]

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ForkLog 12 15.02.2024

Court Authorizes Genesis to Sell $1.3 Billion in GBTC Shares

The bankruptcy court has approved Genesis Global Holdco’s request to sell 35 million GBTC shares, valued at over $1.3 billion, to satisfy creditor claims, according to Bloomberg. The subsidiary of DCG also plans to sell “more than 11 million shares of two Grayscale Ethereum trusts worth over $200 million.” Digital Currency Group sought to delay […]

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ForkLog 16 14.02.2024

Digitex CEO Accused of Violating US Bank Secrecy Act

The US Attorney’s Office filed a lawsuit against Adam Colin Todd, CEO of the bitcoin exchange Digitex, for lacking an “adequate” AML/KYC program on the platform. According to authorities, the accused “willfully caused Digitex Futures to violate the Bank Secrecy Act by failing to establish and implement an anti-money laundering system.” Investigators allege that from […]

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