CLAUDE
FTX Debtors Propose Litigation Settlement Over $220 Million Embed Acquisition
FTX debtors propose a $220M litigation settlement over their Embed acquisition, involving ex-CEO Sam Bankman-Fried, with the aim of recovering the full investment.
Indian Supreme Court Rejects Crypto Petition: Legislative Nature Emphasized
The Indian Supreme Court's decision not to accept a PIL for cryptocurrency regulation underscores the legislative nature of such regulations and the ongoing regulatory uncertainty in the crypto sector.
Terraform Labs Seeks Citadel Securities' Trading Data amid SEC Lawsuit
Terraform Labs has filed a motion against Citadel Securities seeking critical trading data for its defense in a lawsuit by the SEC. The case revolves around market destabilization allegations during the May 2022 Depeg event of TerraUSD stablecoin. The motion urges disclosure of trading strategies between March and May 2022, amidst indications of Citadel Securities' alleged intentions to short UST. Terraform Labs stresses the documents' importance in countering the SEC's fraud allegations, proposing a transfer to another court for a decision if necessary.
GBTC Litigation: Fir Tree and Grayscale Reach Agreement
Fir Tree Partners, a significant shareholder of the Grayscale Bitcoin Trust (GBTC), and Grayscale Investments have reached an agreement resolving a lawsuit filed by Fir Tree in December 2022. The litigation sought documents and information from Grayscale about potential mismanagement and conflicts of interest at GBTC.
FTX Japan Users Withdraw Funds Amidst Legal Battle
FTX Japan users have begun withdrawing all their funds after the slowdown in fund withdrawals due to Binance liquidating its FTX Token (FTT) holdings. While FTX Japan resumed withdrawals on Feb. 21, the legal battle with Sam Bankman-Fried (SBF) continues.
Luna Foundation Says Plans to Repay Terra Investors Thwarted by Litigation Woes
The plans to compensate affected Terra users is still far from reality.