Tyler and Cameron Winklevoss, founders of Gemini cryptocurrency exchange, are reportedly facing a new lawsuit from investors over interest-earning program Gemini Earn. Disgruntled investors have filed a lawsuit against Gemini founders, accusing the firm of fraud and violations of the securities laws, according to a report by Bloomberg. Filed on Dec. 27 in Manhattan federal court, the complaint states that…
A year-end wager for $80,000 Bitcoin (BTC) might seem entirely off the table now, but not so much back in March as BTC rallied to $48,000. Unfortunately, the two-week 25% gains that culminated with the $48,220 peak on March 28 were followed by a brutal bear market. It is important to highlight that the U.S. stock market likely has driven…
The Argentine senate is discussing a preliminary project that would regulate the way in which individuals and organizations promote crypto. The objective of the project, which is still under discussion, would be to educate consumers on the dangers of investing in crypto and also to protect them from investing in crypto Ponzi schemes. Argentine Senate Gets Into Crypto Advertisement Regulation…
Cryptocurrency mining giant Canaan continues to generate significant revenues from crypto operations despite the ongoing crypto mining crisis. Canaan’s total revenue for the first nine months of 2022 was roughly 4 billion Chinese yuan (RMB), or about $573 million, a spokesperson for Canaan told Cointelegraph. As the firm expects to generate another 310 million RMB ($46 million) in Q4, the…
A consortium of FTX customers has filed a class action lawsuit against the failed exchange, seeking confirmation that the company’s crypto holdings belong to customers. The filing said that “customer class members should not have to stand in line” with other creditors looking to share in the remaining assets of FTX Group and Alameda Research and that these assets “should…
Custodial CeDeFi investment platform Midas will close down its operations because of a $63.3 million deficit in its decentralized finance (DeFi) portfolio. In an announcement, the company’s founder and CEO Iakov Levin also known as “Trevor” wrote that the move is partly because the fund’s DeFi portfolio lost $50 million, which is 20% of its $250 million assets under management…
Gemini Trust Co. and its founders Tyler and Cameron Winklevoss are facing a class-action lawsuit over claims the crypto exchange sold interest-bearing accounts without registering them as securities, per Bloomberg. In a class-action complaint filed in the U.S. District Court for the Southern District of New York on Tuesday, investors accuse the company and its founders of fraud and violations…
Members of the crypto community published their sentiments on social media in response to the former FTX CEO Sam Bankman-Fried’s reportedly meeting with Michael Lewis, the writer of the popular trading-focused film, The Big Short. With a potential blockbuster film seemingly on the way, community members called out Bankman-Fried’s antics, from describing the meeting as “absurd” to saying that Lewis…
Gumi, a Japanese mobile gaming company, has partnered with Square Enix and SBI Holdings to build new business opportunities around the metaverse. The deal, which also includes the issuance of new stock valued at $52.7 million dollars, will allow the company to acquire financial and content creation experience. Gumi Raises $52.7 Million in Metaverse-Driven Alliance More and more gaming companies…
The Department of Justice announced on Tuesday the arrest of Avraham Eisenberg, charging him with “market-manipulation offenses” related to his attack on the Mango Markets crypto exchange. A second filing signed by Assistant U.S. Attorneys Thomas S. Burnett and Noah Solowiejczyk has specifically charged Eisenberg with commodities fraud and commodities manipulation. “Eisenberg engaged in a scheme involving the intentional and…
