Judge scolds BitMEX lawsuit plaintiffs for offering him crypto ‘basics’ lessons
The judge urged the plaintiffs to “focus on the task at hand — convincing me that they have stated a plausible claim.” The California District Judge overseeing a racketeering suit filed against crypto derivatives exchange BitMEX, William H. Orrick, has rebuffed the plaintiffs’ motion offering to provide them with a tutorial on “cryptocurrency basics.”According to a July 13 report from Law360, the judge responded to Bitcoin Manipulation Abatement LLC (BMA)’s proposal with a one-page order on Tuesday, outlining the offer was “not well taken.”“Plaintiffs believe that cryptocurrency tutorial....
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A lawsuit against Binance accusing the cryptocurrency exchange of selling unregistered crypto securities has been dismissed. The plaintiffs listed nine cryptocurrencies in the lawsuit.
Binance’s Lawsuit Dismissed
U.S. District Judge Andrew Carter dismissed a lawsuit against cryptocurrency exchange Binance Thursday.
The motion to dismiss was filed by Binance and CEO Changpeng Zhao (CZ). The lawsuit (case no. 20-02803) was originally filed in April 2020 in the U.S. district court in the Southern District of New York.
Binance is accused of violating....
Plaintiffs accusing BitMEX of market manipulation and racketeering violations will not be able to file their complaint again after being shot down by Judge William Orrick for the second time. A U.S. District Judge has dismissed amended racketeering allegations brought by traders against the parent company of derivatives exchange BitMEX, HDR Global trading, noting that many of the plaintiff’s accusations had been copy and pasted from a different lawsuit filed against the platform.On Sept. 7, Judge William Orrick dismissed the plaintiff’s claims that BitMEX had engaged in market....
The Tron Foundation has filed a motion to dismiss a lawsuit from plaintiffs alleging securities violations with its $70 million 2017 ICO. The Tron Foundation has requested a New York federal judge dismiss a class action lawsuit alleging securities violations through Tron’s 2017 initial coin offering, describing the claims as “fatally flawed.”The Chinese blockchain developer filed a motion to dismiss on Dec. 15, asserting that the case has “no connection” to New York. The foundation also emphasized that the lead plaintiffs did not participate in Tron’s ICO, and that they filed the suit....
A 2014 class action lawsuit by plaintiffs in Canada against defunct bitcoin exchange Mt. Gox has been dismissed. The law firm representing Canadian plaintiffs in the class action against Mt. Gox, a now-defunct bitcoin exchange has revealed that the case will be dismissed. The class action lawsuit was originally brought to the Ontario Superior Court of Justice against MtGox Inc., Mt. Gox KK, Tibanne KK, Mt. Gox North America Inc., Mizuho Bank, Ltd., Mark Karpeles (CEO) and Jed Mccaleb (founder). The case sought $465 million ($500 million CAD) in compensation for Canadians who placed their....
A civil lawsuit has been filed against the firm HDR Global Trading Limited, the parent company of the exchange Bitmex, alongside the three cofounders Arthur Hayes, Ben Delo, and Samuel Reed. Plaintiffs allege “the defendants’ Hayes, Delo, and Reed looted about $440,308,400 of proceeds of various nefarious activities.” The cryptocurrency derivatives platform Bitmex is facing a lawsuit that claims the exchanges three cofounders “looted” $440 million from the platform. BMA LLC, Vitaly Dubinin, and Yaroslav Kolchin have filed the lawsuit against the popular crypto....