Billionaire Elon Musk has faced serious allegations of manipulating the price of Dogecoin, a popular cryptocurrency. Investors have accused Musk of artificially inflating Dogecoin’s price by an astounding 36,000% over two years and then allowing it to crash, resulting in substantial losses for individuals who invested in the digital currency. Allegations of Insider Trading One of the key allegations against Elon Musk is insider trading. According to the lawsuits, Musk is accused of using his…
Binance, the leading cryptocurrency exchange, has achieved a significant legal victory. A US district judge ruled in favor of Binance, dismissing a lawsuit related to an alleged pig butchering scam. The plaintiff, Divya Gadasalli, had claimed a staggering loss of over $8 million in this fraudulent scheme. This favorable ruling marks a crucial milestone for Binance in its ongoing legal battles, affirming its innocence and absolving it of any responsibility or involvement in the purported…
FTX leadership has filed a lawsuit against its former CEO, Sam Bankman-Fried, co-founder Zixiao Wang, and former senior executive Nishad Singh. The lawsuit stems from a controversial $220 million acquisition of the stock-clearing platform Embed. FTX Group alleges that the defendants engaged in fraudulent activities, lacking due diligence and taking advantage of the company’s lack of controls and recordkeeping. This article delves into the details of the lawsuit, exploring the allegations made by FTX and…
A class action lawsuit has been filed against Jump Trading, accusing the firm of artificially inflating the prices of UST and aUST tokens. The lawsuit, which was filed in the United States District Court for the Northern District of Illinois, alleges that Jump Trading purchased large quantities of UST and aUST tokens in order to manipulate their prices and mislead investors. The lawsuit alleges that Jump Trading’s actions caused the prices of UST and aUST…
In a major development in the ongoing regulatory battle between the US Securities and Exchange Commission (SEC) and the cryptocurrency industry, Coinbase has filed a lawsuit against the SEC over its threat to sue the company regarding its crypto products. The lawsuit marks Coinbase’s first formal response to the SEC’s warning in March of this year, in the form of a Wells notice, that it was considering legal action against the exchange. Coinbase Sues SEC:…
New York Attorney General Letitia James has once again taken aim at the cryptocurrency industry, filing a lawsuit against Coin Ex for alleged fraud. The lawsuit, filed on [date], claims that Coin Ex falsely represented itself as an exchange and failed to register as a securities and commodities broker-dealer. James has been a vocal advocate for increased regulation of the cryptocurrency industry, citing concerns about the potential for fraud and market manipulation. This latest lawsuit…
