Legal
Lawsuits
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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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.
June 2, 2022, 6:59 PM
Founders of Gemini Tyler Winklevoss (L) and Cameron Winklevoss

Founders of Gemini Tyler Winklevoss (L) and Cameron Winklevoss speak onstage during TechCrunch Disrupt NY 2015 on day 3 at The Manhattan Center on May 6, 2015 in New York City. Noam Galai/Getty Images for TechCrunch

Scammers Steal $65,000 As YouTube Search Results Recommend Fake Apple Event Video
  • The scammer impersonated Apple, taking advantage of the highly anticipated October 18 event by the company.
  • No BTC was stolen, but more than 17 Ethereum were swindled out of their three owners.
October 18, 2021, 7:59 PM
Man holding Xiaomi Mi Mix 3 with Youtube apps

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Crypto Fund Manager Sentenced to 7.5 Years in Prison
  • The Australian national embezzled almost $55 million in investor funds for personal gain.
  • He ran and operated the Virgil Sigma Fund and VRQ Multistrategy Fund in New York from 2017 to 2020.
September 16, 2021, 9:27 AM
Hands of the girl in handcuffs. arrest. a crime. law. execution of sentences

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Sep 2, 2021
SEC Sues BitConnect and Founder for Alleged $2B Fraud
  • BitConnect’s founder Satish Kumbhani was charged with conducting a $2 billion security fraud.
  • The SEC also charged a BitConnect promoter, who recently pled guilty for stealing $24 million from investors.

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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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