Kik, SEC Propose $5M Settlement Over $100M ICO, Ending Yearlong Battle
Kik will pay $5 million in penalties as part of a proposed settlement with the SEC, which sued the messaging app last year.
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In a recent development, bankrupt crypto lender Genesis has settled with defunct crypto hedge fund Three Arrows Capital (3AC), ending a months-long legal battle. According to court documents, Genesis will pay $33 million to resolve the more than $1 billion in claims asserted by 3AC against the Genesis Debtors. Genesis Resolves Dispute With 3AC The […]
An Indian official has reportedly confirmed that the country’s government will propose a ban on holding or using cryptocurrency.
On October 3, Judge Analisa Torres denied the US Securities and Commission’s (SEC) motion for an interlocutory appeal in its ongoing legal battle against Ripple. As part of her order, she raised the possibility of a settlement between both parties before the case goes to trial on April 23, 2024. Ripple And SEC Could Settle […]
Six law firms are fighting over how to distribute $8.3M in attorney’s fees from the Tezos’ $25M class action settlement. Negotiations between six legal firms over $8.3 million in attorney’s fees awarded from Tezos’ $25 million class-action settlement has descended into “unseemly mudslinging,” according to lawyers representing Block & Leviton LLP (B&L) and Hagens Berman Sobol Shapiro LLP.The $25 cash million settlement agreement with Tezos (XTZ) was approved in September, ending class-action claims that the firm distributed unregistered securities through its 2017 initial coin offering....
Earlier this month, UBS announced that it is in the process of creating a "settlement coin" that can be used for financial transactions. Is this yet another form of altcoin and will it rival bitcoin? The bank plans on using blockchain technology to create this settlement coin but has clarified that it will not function as a store of value, unlike most cryptocurrencies. Instead, its application could focus more on storing data regarding trade settlement between financial institutions, banks, and clients. Settlement Coin Applications. A number of other established firms have been looking....