Court

US Bankruptcy Judge John Dorsey has given the green light to FTX’s bankruptcy plan, which will see customers receive billions as the bankruptcy proceeding nears its conclusion.  The approved bankruptcy plan will give former FTX customers a full refund, along with interest, a rare outcome in bankruptcy cases where unsecured creditors usually receive a fraction of what they are owed.  FTX Bankruptcy Plan Receives Court Approval The judge approved the bankruptcy plan during a hearing in Wilmington, Delaware. The plan…

The US Marshal Service can proceed to sell the 69,370 Bitcoin (BTC) that the Department of Justice (DOJ) confiscated from the underground online marketplace Silk Road.  This comes after the Supreme Court turned down an appeal seeking to challenge the ownership of the seized assets. US Marshall Service Gets Green Light To Sell Silk Road Bitcoin In a Monday development, the Supreme Court decided not to give an audience to Battle Born Investments’ appeal. This decision effectively upholds the US District…

In a significant move that could reshape the regulatory landscape for XRP and blockchain payments company Ripple, the US Securities and Exchange Commission (SEC) announced on Wednesday that it is appealing the court ruling limiting its authority over crypto markets.  The appeal targets a July 2023 decision by US District Judge Analisa Torres, which determined that the XRP token, sold by Ripple Labs on public exchanges, does not qualify as a security under existing laws. SEC Appeals Court Ruling On…

The post WazirX Update: Court Hearing Set, Survey on Moratorium, and Townhall Announcement appeared first on Coinpedia Fintech News Crypto exchange WazirX, one of the most famous among Indian crypto exchanges, has reported crucial data on the current restructuring process via an email to its users.  The email sheds light on the further action the team will be taking for the restructuring process. A session on the Moratorium Application is coming up on September 25 2024, at 8:00 IST. The…

A federal court dismissed the lawsuit against Elon Musk and Tesla, which accused them of using social media influence and insider trading to manipulate Dogecoin's price. Musk Evades Lawsuit Elon Musk and Tesla have successfully secured the dismissal of a federal lawsuit that accused them of manipulating the cryptocurrency Dogecoin, resulting in significant financial losses for investors. The lawsuit, filed in 2022 in the Southern District of New York, claimed that Musk and his electric vehicle company engaged in fraudulent…

The post Tron Lawsuit Update: SEC vs. Tron Battle Takes a New Turn in Court appeared first on Coinpedia Fintech News In a critical turn of events, the Tron Foundation and its founder, Justin Sun, have scored a significant legal victory against the U.S. SEC. A federal judge in New York recently denied the SEC’s request to expedite legal proceedings in its ongoing securities fraud case against Tron, marking a crucial moment in this high-profile lawsuit. The SEC’s Motion Rejected…

Despite Russian President Putin's claims of robust trade in Yuan with China, recent reports highlight major payment issues. Many Chinese banks, especially smaller regional ones, have stopped processing payments from Russia due to U.S. sanctions. As a result, Russian businesses face difficulties in using Yuan and have turned to cryptocurrencies as an alternative. Russia legalized cross-border crypto payments, viewing them as a temporary solution while working on a central bank digital currency system with China and other BRICS nations. Meanwhile,…

The post Dubai Court Rules Cryptocurrency As A Valid Form of Salary! appeared first on Coinpedia Fintech News Dubai Court has acknowledged the payment of salaries in the form of cryptocurrency for the first time in history. As per the order, the cryptocurrency payments that are stated in the employment contracts will be accepted legally. This ruling comes after an ex-employee filed a legal complaint on the failure of the company to pay a portion of their salary, which was…

The post Ripple vs SEC Lawsuit Ends, XRP Price Surges 17% Following Favorable Court Ruling appeared first on Coinpedia Fintech News After nearly four years of fighting the United States Securities and Exchange Commission (SEC), Ripple Labs, a blockchain payment company, has received much-needed clarity from the court on XRP sales. On Wednesday, US District Judge Analisa Torres concluded that the SEC’s motion for remedies and the entry for final judgment has been granted and denied in part. As a…