Detained Binance exec sues Nigeria over ‘human rights violations’

Detained Binance executive Tigran Gambaryan has initiated legal action against Nigerian authorities, including the National Security Adviser (NSA) Nuhu Ribadu and the Economics and Financial Crime Commission (EFCC), over allegations of human rights violations. Gambaryan, an American citizen overseeing the exchange’s crime investigation unit, was detained alongside his colleague Nadeem Anjarwalla by Nigerian authorities on… Continue reading Detained Binance exec sues Nigeria over ‘human rights violations’

Former FTX CEO Sam Bankman-Fried sentenced to 25 years in landmark fraud case

Sam Bankman-Fried, the former CEO of FTX, was sentenced to 25 years in jail today in a packed courtroom, marking a significant moment in the legal scrutiny of the crypto industry. The sentencing, as detailed by Inner City Press, comes after a series of legal proceedings that shed light on the complexities and potential vulnerabilities… Continue reading Former FTX CEO Sam Bankman-Fried sentenced to 25 years in landmark fraud case

Coinbase shares dip as court sides with SEC in ongoing legal battle

Coinbase Chief Legal Officer Paul Grewal said the exchange had anticipated that the Court would allow the US Securities and Exchange Commission (SEC) case against it to proceed. Grewal made the statement in a March 27 post on social media platform X after Judge Katherine Polk Failla ruled that the Commission had “sufficiently pleaded” its… Continue reading Coinbase shares dip as court sides with SEC in ongoing legal battle

KuCoin assures users funds are safe after US levies criminal charges

KuCoin CEO Johnny Lyu said the US criminal charges against the exchange will not affect the platform’s operational stability and assured users that their funds remain safe . Lyu made the statement on social media after the US Department of Justice (DOJ) announced it is levying criminal charges against the exchange for flouting anti-money laundering… Continue reading KuCoin assures users funds are safe after US levies criminal charges

SEC reveals why Ripple should be fined for $2 billion

The US Securities and Exchange Commission (SEC) has detailed the rationale behind its insistence that crypto company Ripple should be fined roughly $2 billion in a March 25 court filing . Ripple’s top brass, including CEO Brad Garlinghouse and CLO Stuart Alderoty, had previously hinted at the SEC’s forthcoming move. They said that redacted versions… Continue reading SEC reveals why Ripple should be fined for $2 billion

United States OFAC places new sanctions on crypto firms with ties to Russia

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned 13 entities and two individuals for operating in the financial services and technology sectors of the Russian economy, including those developing or offering services in virtual assets that reportedly enable the evasion of US sanctions, as reported by the Treasury Department… Continue reading United States OFAC places new sanctions on crypto firms with ties to Russia

Ripple execs reveal SEC seeking $2 billion in fines, say regulator has ‘become unhinged’

Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty have revealed that the SEC is seeking a staggering $2 billion in fines and penalties. According to the company’s executives, the fines have been proposed in a court filing that will be unsealed on March 26. ‘Unhinged’ SEC Garlinghouse said the SEC is seeking heavy penalties despite… Continue reading Ripple execs reveal SEC seeking $2 billion in fines, say regulator has ‘become unhinged’

DeFi Education Fund files lawsuit to exempt airdrops from SEC’s securities classification

The DeFi Education Fund, a crypto advocacy group, and Texas-based apparel company Beba LLC have jointly initiated legal proceedings against the US SEC to clarify the status of airdrops as non-securities offerings. The March 25 court filing emphasized the need to halt the SEC’s regulatory actions , which the two entities perceive as an overreach… Continue reading DeFi Education Fund files lawsuit to exempt airdrops from SEC’s securities classification

SEC begins multi-billion dollar fraud trial against Terraform Labs, Do Kwon

In a dramatic opening to a much-anticipated trial, the US SEC cast Terraform Labs and its co-founder, Do Kwon , as central figures in a vast financial deception that left investors nearly destitute following its collapse, Reuters reported on March 26. The trial, unfolding in the US District Court for the Southern District of New… Continue reading SEC begins multi-billion dollar fraud trial against Terraform Labs, Do Kwon

Montenegro’s Supreme Court stalls Do Kwon’s extradition amid legal tussle

Montenegro’s Supreme Court has intervened in Do Kwon’s extradition to South Korea, putting the process on hold indefinitely, according to a March 22 translation of the Court notice . The Court said it overturned previous decisions from two lower courts that had greenlit Kwon’s extradition to South Korea because of the Supreme State Prosecutor’s Office’s request.… Continue reading Montenegro’s Supreme Court stalls Do Kwon’s extradition amid legal tussle