XRP is one of the few mega cryptocurrencies which failed to achieve a new all-time high during the 2020-2021 bull market. The lawsuit crashed the price of XRP while making the cryptocurrency holders the biggest victims in the story, meaning that the SEC has actually hurt the people that the...
Lawsuit Filed Against FTX and Celebrity Promoters On Nov. 16, aclass-action lawsuitwas filed in a Florida federal court, alleging FTX was a fraudulent cryptocurrency scheme designed to take advantage of unsophisticated investors across the U.S. High-profile celebrities and professional athletes such ...
“The size and scope of the alleged scheme is truly astounding. These defendants capitalized on both the allure of cryptocurrency and the mystery surrounding cryptocurrency mining, to commit an enormous Ponzi scheme,” commented Nick Brown, U.S. Attorney for the Western District of Washington. ...
In November 2023, the US Securities and Exchange Commission sued Kraken in a sprawling lawsuit that accused the exchange of unlawfully facilitating the buying and selling of crypto assets. The SEC alleges that Kraken intertwines the traditional services of an exchange, broker, dealer, and clearing...