Legal Archives

Shady Market Makers Caught Wash-Trading a Token Created by the Feds

Written by satoshiclub on October 10, 2024. Posted in Blockchain, Legal. Leave a Comment

The streak of established crypto companies turning frauds continues with Gotbit’s recent lawsuit for alleged market manipulation and wash trading. The company, holding over $1.5 billion assets under management right before the start of the prosecution, faces a fine of up to $5 million or twice the gross gain or loss from the offence and forfeiture. The CEO, who was also charged, faces a sentence of up to 20 years in prison. In this article, we’ll give you all the information that we know as of October 10, as well as some thoughts on what will happen with the crypto market after the conviction....

Is Dan Gallagher Set to Replace Gary Gensler as SEC Chair?

Written by satoshiclub on October 7, 2024. Posted in Blockchain, Legal. Leave a Comment

Potential SEC Leadership Change. Speculation is building that Dan Gallagher, Robinhood’s Chief Legal Officer, could replace Gary Gensler as the next SEC Chair. This shift would depend on Donald Trump’s potential 2024 election win. Gallagher, with his more lenient views on crypto regulation, offers a contrast to Gensler’s strict approach. Gensler’s Regulatory Approach Under Gensler, the SEC has aggressively pursued cryptocurrency companies. The Wells Notice issued to Robinhood’s crypto division earlier this year accused them of violating securities laws. The crypto industry...

Crypto Takes Center Stage: How Voters Are Choosing Candidates Based on Their Stance

Written by satoshiclub on October 2, 2024. Posted in Legal. Leave a Comment

The 2024 US election is heating up, and a new factor is influencing voters’ decisions: candidates’ stances on cryptocurrency. According to a recent study by Grayscale, a leading digital asset investment firm, a significant majority of voters – 56% – are looking for candidates who support pro-crypto policies. This surge in support for cryptocurrency reflects the growing mainstream acceptance of this innovative technology. From Bitcoin’s rise as a store of value to the burgeoning world of decentralized finance (DeFi), crypto has captured the attention of millions,...

Chainlink Price Analysis: Will LINK Break Through Resistance or Face Further Decline?

Written by satoshiclub on September 20, 2024. Posted in AI, Blockchain, Legal. Leave a Comment

Chainlink (LINK) is currently facing resistance at $12.38, indicating a potential struggle for bulls to sustain momentum. While a break above the $11.64 support level could trigger a rally, LINK’s ability to maintain gains remains uncertain. This analysis explores the factors influencing LINK’s price action and potential future directions. \n Key Resistance Levels: \n \n $12.38: Current resistance level, posing a challenge for bulls. \n \n Key Support Levels: \n \n $11.64: Breaking above this level could spark a rally. \n \n Market Sentiment: \n Weak bullish momentum suggests that...

Deus X Capital Launches Solstice Labs to Empower Institutional DeFi Adoption

Written by satoshiclub on September 20, 2024. Posted in GameFi, Legal. Leave a Comment

Deus X Capital, a prominent player in the digital asset space, has unveiled Solstice Labs, a new venture dedicated to accelerating institutional adoption of Decentralized Finance (DeFi). This strategic move underscores Deus X Capital’s commitment to driving innovation and unlocking the transformative potential of DeFi for traditional financial institutions. Solstice Labs will leverage its expertise and resources to provide institutional investors with comprehensive solutions tailored to their specific needs. These solutions include: DeFi infrastructure development: Solstice Labs will...

CFTC Faces Scrutiny Over Election Markets: Judges Grill Regulators and Kalshi

Written by satoshiclub on September 20, 2024. Posted in Legal. Leave a Comment

The Commodity Futures Trading Commission (CFTC) faced a barrage of questions from US appeals court judges as the regulator attempts to overturn a lower court ruling that greenlit election markets. The hearing focused on the CFTC’s attempt to block Kalshi, a betting platform, from offering markets predicting the outcomes of US elections. Judges expressed concerns over the CFTC’s argument that election markets could undermine democratic processes. They questioned the validity of the regulator’s claims that these markets could lead to manipulation or incite violence. Kalshi’s...

Deus X Capital Launches New DeFi Unit, Pioneering Innovative Yield Generation Strategies

Written by satoshiclub on September 20, 2024. Posted in GameFi, Legal. Leave a Comment

Deus X Capital Expands into Decentralized Finance Deus X Capital, a leading crypto investment firm, is excited to announce the launch of its dedicated DeFi unit. This new division will focus on developing and deploying cutting-edge protocols designed to generate attractive yields for investors. The DeFi unit is poised to revolutionize the landscape of decentralized finance with its groundbreaking approach to yield generation. Its inaugural protocol, set for launch in 2025, is projected to attract over $100 million in total value locked, demonstrating the immense potential of its innovative strategies. Deus...

US Prosecutors Push Back Against Mango Markets Exploiter’s Acquittal Bid

Written by satoshiclub on September 19, 2024. Posted in Legal. Leave a Comment

The US government has firmly opposed the motion for acquittal filed by Avraham Eisenberg, the individual accused of exploiting Mango Markets in 2022. Eisenberg’s defense hinges on the argument that he engaged in a legitimate market manipulation strategy, but prosecutors maintain that his actions constituted blatant fraud. The case raises critical questions about the boundaries of acceptable behavior within decentralized finance (DeFi) and the potential for exploiting vulnerabilities in these platforms. Eisenberg’s defense team claims that he negotiated a settlement with Mango Markets’...

Token2049 Recap: Vitalik’s Ethereum Anthem, Certik’s Security Boost, and More

Written by satoshiclub on September 19, 2024. Posted in Altcoins, Blockchain, Legal. Leave a Comment

Token2049, Asia’s largest blockchain event, just wrapped up in Singapore, and we’re here to break down the biggest highlights. From Vitalik Buterin’s surprise performance to new advancements in Web3 security, the event showcased the future of blockchain technology. \n One of the most memorable moments was Vitalik Buterin, Ethereum’s co-founder, belting out an Ethereum-themed song. The performance underscored the growing cultural impact of blockchain and its ability to inspire even the most technical minds. \n Certik, a leading blockchain security firm, announced the...