Strategy’s $40 Billion Bet In Trouble? New Lawsuit Opens Can Of Worms
Strategy’s $40 billion Bet on Bitcoin has become the subject of a class action lawsuit. The plaintiffs accuse the company’s executives of making misleading statements. This comes amid the firm’s latest purchase of 7,390 BTC. Strategy Faces Lawsuit Over Bitcoin Bet According to Strategy’s filing with the SEC, the plaintiffs filed a class action lawsuit […]
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Strategy’s BTC holdings could be at risk following Technical expert Tony Severino’s revelation about Bitcoin’s current price action. The expert noted that the flagship crypto’s 200-day MA is below the average cost of the company’s BTC holdings, meaning they could still hold an unrealized loss at some point. Strategy’s Stock At Risk With Bitcoin’s 200-Day […]
It is also important to note that, in Canada, the “loser’ of a lawsuit is forced to pay the costs to the winner. In this particular case, that amount would total up to several millions of dollars, which is simply not feasible for most Mt. Gox victims. The Mt. Gox lawsuit is keeping a lot of Bitcoin enthusiasts on edge as of late, as many affected victims are still holding out hope of a [partial] refund. But over in Canada, the class action lawsuit against Mt. Gox has been dismissed, which is not good news at all. Canadian Mt. Gox Lawsuit Dismissed. Albeit there is an official trustee for....
Another class-action lawsuit has been filed against Ripple Labs and CEO Brad Garlinghouse. This lawsuit follows the one filed by the U.S. Securities and Exchange Commission (SEC) alleging that the defendants sold XRP, which it considers unregistered security, for over $1.38 billion. The lawsuit, filed Monday in a Florida district court alleges that the “sale of XRP cryptocurrency tokens to Florida residents” violates Florida securities laws. The suit names Ripple Lab Inc., XRP II LLC, and Garlinghouse as the defendants. They have allegedly sold “millions of dollars (or....
Elon Musk’s DOGE (Department of Government Efficiency) is facing legal scrutiny yet again. This time, however, it is through a lawsuit stating that it’s not in compliance with federal transparency rules. The National Security Counselors argue that DOGE should be bound by the Federal Advisory Committee Act of 1972. That law requires any advisory committee […]
Ripple has hit back at the U.S. Securities and Exchange Commission (SEC), accusing it of creating more uncertainty and failing in its duty to protect the crypto community. In panning the SEC’s decision to designate its XRP token as a security, the company claims the regulator’s lawsuit against it amounts to an attack on the entire crypto market in the US. XRP Token Holders Affected The latest comments by the Ripple team follow reports of the delisting of the XRP token by Coinbase. In a short statement released on December 29, the firm, which is promising another....