Legal
Lawsuits
Tether Ordered to Provide Documents Connected to USDT Backing
  • The stablecoin issuer was order to produce a number of financial documents, as well as records of crypto trades, transfers, and its accounts with crypto exchanges.
  • The order was made as part of a case that was started in 2019 by a group of investors, who alleged the company had manipulated the crypto market in 2017.
September 21, 2022, 4:22 PM
tether

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BitGo Files $100M Lawsuit Against Galaxy Digital
  • The crypto custodian is seeking more than $100 million in damages from Galaxy Digital for the “intentional breach” of its $1.2 billion acquisition deal.
  • BitGo noted the complaint was filed under seal as to give Galaxy Digital the opportunity to redact “some of the allegations before the complaint becomes public”.
September 13, 2022, 6:11 PM
bitgo

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Celsius Sues Prime Trust Over $17M in Crypto
  • The crypto lender claimed Prime Trust returned $119 million in crypto when the two broke their relationship in 2021, but still held over $17 million in tokens.
  • Celsius’ legal team noted that the 398 BTC, 3,740 ETH, 2,261,448 USDC, and 186,268 CEL should have been returned immediately after Celsius filed for bankruptcy.
August 24, 2022, 8:38 AM
In spotlight, Alex Mashinsky, founder and CEO of Celsius

Alex Mashinsky, founder and CEO of Celsius, speaking at CoinDesk’s Consensus conference, September, 2019. CoinDesk

Crypto Bank Sues Federal Reserve Over Application Delay
  • Custodia had already received confirmation from the Kansas Fed that its application was complete and had “no showstoppers”, but is yet to receive approval even after 19 months.
  • Custodia’s complaint notes that a master account, which provides institutions with direct access to the Fed’s payment system, is “vital” for its business.
June 8, 2022, 10:27 AM
Dollar bill closeup

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Jun 2, 2022
CFTC Sues Gemini Over 2017 BTC Futures Contract Evaluation
  • One of the main points of the complaint is that Gemini provided misleading information on how susceptible to manipulation the BTC futures contract could be.
  • The CFTC seeks disgorgement of ill-gotten gains, civil monetary penalties, injunctions relating to registration and trading, and an injunction against further violations of the Commodity Exchange Act.

Gemini founders Tyler Winklevoss (L) and Cameron Winklevoss (R) onstage during TechCrunch Disrupt, New York, May 6, 2015. Noam Galai/Getty Images for TechCrunch

Mar 30, 2021
SEC Accuses LBRY of Selling Unregistered Securities
  • The SEC has requested a permanent injunction against LBRY, prohibiting it from further selling its LBC token.
  • The decentralized content publishing platform has echoed Ripple’s statement that these lawsuits were a “tremendous threat” to the entire crypto industry.
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