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The SEC, Binance, and its CEO Changpeng Zhao agreed on a joint motion to file confidential information under seal. On Sept. 11, a joint motion was submitted by parties in the U.S. Securities and Exchange Commission (SEC)’s lawsuit against Binance and Changpeng ‘CZ’ Zhao to request how certain documents or potential evidence would be handled during court proceedings. The protective order filed by the SEC, Binance Holdings Limited, BAM Trading Services Inc, BAM Management US Holdings Inc, and Zhao holds all sides to keep discovery under seal. This means that confidential or other non-public information must be filed as protected materials, and the order restricts access to such documents to parties like the judge, attorneys, plaintiffs, defendants, and court-approved non-parties. These protected materials would be designated as either “CONFIDENTIAL or HIGHLY CONFIDENTIAL – ATTORNEYS’ EYES ONLY”, according to the joint filing. SEC vs Binance The update is the latest filing ...

Genesis, the crypto lender that filed for bankruptcy in January and fired over 30% of its staff, aims to recover $620 million from DCG. The companies involved claim discussions for a potential deal to end the dispute are open. advertisement Also Read: Bitcoin Sees Weekly Inflows With Overall Trading Volumes 90% Above YTD Average Why Did Genesis Sue DCG? Genesis recently unveiled a debt repayment plan that the majority of the key creditors rejected despite the few in support. In an attempt to uphold the repayment commitments to the lenders, Genesis took the measure to file lawsuits against DCG. In the Lawsuit , Genesis claims that the loans it provided DCG remain unpaid despite maturing in May. The outstanding loan amount stands at $500 million from DCG and about 4,550 Bitcoin from DCG I. Genesis also filed to take back the accrued interest and late fees apart from the principal amount. Considering the current Bitcoin Price, 4,550 BTC amounts up to approx...

The co-founders of Gala Games, Wright Thurston , and Eric Schiermeyer , recently filed lawsuit s against each other over theft and mismanagement. Schiermeyer alleged that Thurston and his investment firm, True North United Investments, stole around $130 million worth of GALA in 2021. Thurston, on the other hand, blamed Schiermeyer for triggering Gala Games to “sell off and waste millions of dollars in company assets.” He further alleged that Schiermeyer lent millions of dollars worth of company funds to himself for personal purchases. On the heels of the lawsuit , GALA ’s price started dropping owing to fear, uncertainty, and doubt. In fact, GALA also went on to create a new 2023 low at $0.01603 a few hours ago. Additionally, the asset was the top loser on the daily timeframe at press time. GALA was priced at around $0.01658, down 5.7% in the last 24-hours. GALA/USDT by TradingView Also Read: Dogecoin Averages 1.3% on its ‘Best’ ...

Jeffrey Huang withdrew the lawsuit after ZachXBT edited his article that Huang claimed to be defamatory. Taiwanese music celebrity Jeffrey Huang, also known as "Machi Big Brother," has withdrawn a defamation lawsuit against internet sleuth ZachXBT. In a bilateral announcement dated Aug. 14, Machi Big Brother said "Zach has many times in the past been of great service to the crypto community and pursuing legal action against him was a last resort but not the right path," after ZachXBT made a series of his amendments to his article that sparked the defamation suit from Huang.  I am withdraw ing my defamation suit against @zachxbt. Zach has many times in the past been of great service to the crypto community and pursuing legal action against him was a last resort but not the right path. I appreciate that Zach has made important amendments to his… — Machi Big Brother (@machibigbrother) August 14, 2023 Meanwhile, ZachXBT stated that he "updated my article with...

The XRPL saw a significant increase in the total new address count, which reached 138,790, representing a growth of 31.8% compared to the same period last year. Despite lingering concerns over the Ripple vs SEC lawsuit , XRP has demonstrated significant growth in multiple areas of its protocol during the second quarter (Q2) of this year, as revealed by a recent report from crypto analytics platform Messari. Based on data from Messari, XRP's circulating market cap has experienced a Year-to-Date (YTD) increase of 42.5%. This growth was driven by the asset's price surge in the first quarter. However, in the second quarter (Q2), the market cap declined by 10.7% Quarter on Quarter (QoQ), from $27.8 billion to $24.8 billion. Although the XRP network experienced a decline in transaction volume QoQ, there was a notable 12.7% QoQ increase in average daily non-fungible token (NFT) transactions, rising from 13,800 to 15,500. While XRP's XRPL has a strong presence in decentralized ...