What’s Next in the Securities Case Against Ripple Over XRP

The Takeaway: Monday is the deadline for an XRP holder to file a response to Ripple’s motion to dismiss his suit against the company. That motion largely sidestepped the plaintiff’s argument that Ripple sold XRP as an unregistered security, instead contesting the case on procedural and evidentiary grounds. The suit is unlikely to settle the […]

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Another AT&T SIM Swapping Hack Targets Trio of Crypto Execs

A crypto executive is suing AT&T over a SIM swapping hack that he claims cost him $1.7 million in digital assets in a hit aimed at three executives attending Consensus 2018 Head of strategy for VideoCoin Seth Shapiro alleged in his lawsuit, filed Oct. 17  in U.S. District Court for the Central District of California, […]

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Former World Gold Council Exec Develops New Bitcoin ETF

The former managing director of the World Gold Council and the portfolio manager behind SPDR Gold Shares is developing a bitcoin exchange-traded fund (ETF) with boutique asset manager Kryptoin Investment Advisors. The Cayman Islands-based firm has filed an initial registration statement with the U.S. Securities and Exchange Commission (SEC). The fund, in development for two […]

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Facebook’s Libra Just Got Its First Major Supporter in Congress

Amid a sea of scorn, one U.S. Senator is praising Libra. Sen. Mike Rounds (R-S.D.) wrote a letter to Libra Association member Anchorage, a South Dakota-based trust company, endorsing the Facebook-led project and citing it as an example of technological advances that he feels are needed to aid U.S. consumers. Rounds also pushed back against […]

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Dark Web Drug Dealer to Forfeit Millions of Dollars in Illicit Crypto Earnings

A man has been sentenced in San Diego, California, for conspiring to sell drugs over dark web markets for cryptocurrencies. Thirty-nine-year-old Sky Justin Gornik had pleaded guilty to using a number of marketplaces such as Alpha Bay, Trade Route, Abraxas, Evolution, Outlaw Market, and Dream Market to deal in fentanyl, carfentanil, ketamine, oxycodone, amphetamine and other […]

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UK Advertising Watchdog Upholds Complaints Against BitMEX Bitcoin Promotion

The U.K. Advertising Standards Authority (ASA) has upheld complaints over a bitcoin ad placed by crypto derivatives exchange BitMEX (HDR Global Trading). The advertising regulator published its decision on Wednesday, saying that it supported the four complaints against the ad that had claimed it “failed to illustrate the risk of the investment,” “exaggerated the return […]

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Derivatives Drama: The Unintended Consequences of Crypto Regulation

Noelle Acheson is a veteran of company analysis and CoinDesk’s Director of Research. The opinions expressed in this article are the author’s own. The following article originally appeared in Institutional Crypto by CoinDesk, a free weekly newsletter for institutional investors interested in crypto assets. Sign up here. Last week’s kerfuffle over the launch-that-wasn’t of LedgerX’s physically delivered futures […]

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QuadrigaCX Judge Approves $1.6 Million in Expenses for EY, Law Firms

A Canadian judge approved more than $1.6 million in fees for firms that are seeking to recover funds from the now-defunct Canadian crypto exchange QuadrigaCX. Nova Scotia Supreme Court Judge Darlene Jamieson ruled Wednesday that all activities undertaken and fees incurred by Ernst & Young (EY), Stikeman Elliot (EY’s legal counsel), Kirkland & Ellis (EY’s […]

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NiceHash CEO Confirms Bitcoin Theft Worth $78 Million

Cryptocurrency mining marketplace NiceHash has confirmed that yesterday’s hack resulted in the loss of over 4,700 BTC, an amount worth more than $78 million at press-time prices. In a video update streamed live on Facebook, CEO and co-founder Marko Kobal provided an update to yesterday’s dramatic announcement that the company, founded in 2014, had incurred […]

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