Lawsuits

Mt. Gox Creditors Could Soon Claim 90% of Remaining Bitcoins

  • A new deal between Mt. Gox's trustee and Fortress will enable creditors to claim 90% of the exchange's remaining Bitcoin.
  • If the majority of creditors agree, they would be reimbursed directly from the Mt. Gox trust.

Visa & Plaid’s Merger Blocked by DoJ Antitrust Suit

  • The U.S. DoJ has alleged that Visa was using the acquisition to snuff out its competition.
  • The planned $5.3 billion acquisition was canceled almost one year after it was announced.

Damage Done: Coinbase is Delisting XRP

  • The avalanche of XRP delistings seems to have arrived, as Coinbase has just announced that the asset will not be tradeable on their platform after January 19.
  • The larger cryptocurrency community is torn on the issue, while XRP has lost two thirds of its price within ten days.

SEC Sues Ripple Over $1.3B Unregistered Securities Offering

  • The regulator has accused Ripple of raising more than $1.3 billion in an "unregistered, ongoing digital asset securities offering".
  • The question if XRP is a security has been up in the air for years now, and we might soon get an answer.

U.S. Court Orders Blockvest to Pay $700K

  • The firm had made false claims to have received regulatory approval from various agencies, one of which was fabricated.
  • Blockvest and its founder will need to pay $696,000 in civil penalties, and abide by a number of restraints and conditions moving forward.

Kik & SEC Jointly Propose $5 Million Settlement To End ICO Lawsuit

  • The proposed joint settlement is not final, and still requires approval from presiding judge Alvin Hellerstein.
  • If approved, the settlement will enjoin the firm against future securities law violations, and make it pay a $5 million fine.

Tezos’ 3 Year Lawsuit Ends In $25M Settlement

  • The judge in the case has noted that the agreement was "fair, reasonable, and adequate".
  • One third of the settlement, $8.5 million, will go towards attorney fees, which leaves $16.5 million for the participants in the ICO.

Bittrex, Poloniex Motion For Summary Judgement, Tether Denies Allegations

  • The motion for summary judgement is on the grounds that the Plaintiffs are unable to "prove the central premise of their claims".
  • The two exchanges were added to the lawsuit as defendants in June.

Plaintiffs Settle With OneCoin Co-Founder

  • On Thursday, Konstantin Ignatov settled with plaintiffs Donald Berdeaus and Christine Grablis, the representatives of OneCoin investors.
  • Konstantin is no longer facing 90 years of prison time.

Twitter Hacker’s Bail Set At $725K

  • The 17 year old "mastermind" had 400 BTC confiscated by authorities last year during an investigation.
  • In order to carry out the hack, the ringleader reportedly had help from a 19 year old U.K. resident, and a 22 year old Florida resident.