Court Cases | ForkLog

ForkLog 14 08.08.2024

Court Approves $12.7 Billion Settlement Between FTX and CFTC

U.S. District Judge Peter Castel approved a settlement agreement between the CFTC, FTX, and Alameda Research, under which the exchange and its subsidiary will pay creditors $12.7 billion. The parties reached an agreement to settle the 20-month-long dispute on July 12. However, the decision awaited final approval, which Judge Castel granted on August 7. The […]

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ForkLog 21 08.08.2024

Court Reduces Ripple’s Fine from $2 Billion to $125 Million

A court fined Ripple $125 million in a protracted legal battle with the U.S. Securities and Exchange Commission (SEC). The regulator initially demanded $2 billion. Judge Analisa Torres also prohibited the fintech company from future violations of securities laws, citing a “reasonable likelihood of future violations.” Previously, Ripple sought to cap the fine at $10 […]

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ForkLog 50 05.08.2024

Elon Musk Renews Legal Battle Against OpenAI

Billionaire Elon Musk has reignited his legal proceedings against OpenAI, as reported by the New York Times. The lawsuit alleges that the AI startup and its two founders, Sam Altman and Greg Brockman, breached the company’s founding agreement by prioritising commercial interests over the public good. A similar claim was made in a previous document, […]

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ForkLog 33 02.08.2024

Do Kwon to be Extradited to South Korea

The Court of Appeals in Montenegro rejected the US request for the extradition of former Terraform Labs (TFL) CEO Do Kwon, deciding instead to send him to South Korea. This verdict by the Court of Appeals upholds the decision of the High Court of Podgorica, made at the end of June. In November 2023, the […]

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ForkLog 20 31.07.2024

Ex-CEO of FTX Subsidiary Granted Prison Delay Due to Dog Bite

A judge overseeing the case of Ryan Salame, former head of FTX’s Bahamian division, granted a postponement for the commencement of his prison sentence to October 13, 2024. The delay was attributed to a “German shepherd bite” suffered by the former executive. The ex-CEO required surgery, preventing him from reporting to prison on the previously […]

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ForkLog 21 29.07.2024

British Hacker Sentenced to 3.5 Years for Stealing $900,000 from Coinbase Users

The Norwich Crown Court in the United Kingdom has sentenced Elliott Gunton to 3.5 years in prison for his role in a hacking conspiracy aimed at stealing funds from clients of the cryptocurrency exchange Coinbase. This was reported by Norwich Evening News. The 24-year-old defendant, along with accomplices, gained access to login data for over […]

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ForkLog 12 24.07.2024

Coinbase Seeks Court Order for Gensler’s Correspondence

Coinbase has filed a motion to compel the SEC and its chairman, Gary Gensler, to produce emails and internal documents underlying its legal battle with the agency, according to The Block. The Commission sued the platform in June 2023, accusing it of violating securities laws and operating without registration. The SEC also targeted Coinbase’s staking […]

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ForkLog 8 23.07.2024

Marathon Digital Fined $138 Million for Contract Breach

Marathon Digital, the largest mining company in the United States, has been fined $138 million for breaching a non-circumvention agreement. This was reported by Cointelegraph. According to a press release from the law firm Affeld England & Johnson, the jury unanimously ruled in favor of Michael Ho, founder of US Bitcoin Corp and Chief Investment […]

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ForkLog 22 19.07.2024

Bitzlato Founder to Be Released After Time Served

On July 18th, the U.S. District Court in Brooklyn, New York, sentenced Anatoly Legkodymov, founder of the cryptocurrency exchange platform Bitzlato, to 18 months in prison, crediting him for the equivalent time already spent in detention. This was reported by Bloomberg. Legkodymov was accused of running an unlicensed money transfer business that processed over $700 […]

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ForkLog 27 18.07.2024

BlockFi to Begin Compensation Payments by Month’s End

The crypto lender BlockFi is set to return digital assets to clients via Coinbase by the end of July. The firm, which has undergone bankruptcy proceedings, announced this on X. As described in our previously announced Coinbase distribution partnership blog post (https://t.co/M0T56YiKAe), BlockFi will commence first interim crypto distributions through Coinbase in July 2024. — […]

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ForkLog 11 18.07.2024

Virgil Griffith’s Prison Sentence Reduced by Seven Months

The sentence of former Ethereum Foundation researcher Virgil Griffith, accused of violating sanctions law by visiting North Korea, has been reduced from 63 to 56 months. This was reported by The Block. The US District Judge considered the difficulties faced by the developer during his imprisonment and took into account several “disciplinary violations” on his […]

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ForkLog 8 17.07.2024

US Senator and Bitcoin Critic Convicted of Corruption

Democratic Senator Bob Menendez from New Jersey, who once described the leading cryptocurrency as “the perfect choice for criminals”, has been found guilty of accepting bribes. According to NBC News, the jury agreed on all 16 charges, including bribery, extortion, acting as a foreign agent, obstruction of justice, and various conspiracy counts. Menendez received cash […]

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