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Disgraced Terra founder Do Kwon has asked a US court to delay his trial against the Securities and Exchange Commission (SEC) so that he can attend, as extradition proceedings from Montenegro have been delayed. Kwon, who was arrested in Podgorica last year attempting to board a plane with a fake ID, is wanted in the US, South Korea, and Singapore to face accusations of mass fraud, after his Terra Luna ecosystem collapsed. According to the SEC, four of Kwon’s crypto assets were unregistered securities. These include TerraUSD and Luna, whose crashes had long-lasting effects on the market. Kwon’s lawyers deny the claims. Extradition from Montenegro was delayed after Kwon successfully appealed in a Podgorica court. The case must now be revisited. He has previously expressed his desire to be extradited to South Korea instead of the US. However, his next destination will ultimately be decided by the local court. CRYPTO IN THE COURTS: Do Kwon Wants to Attend SEC Terraform Labs...

A request to delay the sentencing of Sam Bankman-Fried was rejected by Judge Lewis Kaplan ahead of a presentence interview slated for Dec. 21.  Sam Bankman-Fried’s lawyers requested to extend the sentencing procedure by four to six weeks, citing a possible second trial for the FTX founder on bank fraud and conspiracy to violate the Foreign Corrupt Practices Act charges. The letter was submitted on Dec. 20, a day before Bankman-Fried’s scheduled presentence interview with the U.S. Probation and Pretrial Services System. This is the body tasked with recommending a prison sentence for the convicted former crypto billionaire. Notably, Bankman-Fried’s sentencing hearing is set for March 28. The defense requires additional time to collect materials necessary for the sentencing submission and to prepare for the presentence interview. In addition, a trial on the severed counts of the indictment is still set for March 11, 2024. The Government has not yet decided whether it intends to ...

Su Zhu, co -founder of Three Arrows Capital (3AC), reportedly faced his first court questioning in Singapore court regarding the firm’s collapse . Su Zhu the co -founder of the defunct Three Arrow’s (3AC) capital has made a court appearance in Singapore spanning two days this week that is part of a wider net of legal proceedings initiated by Teneo, the appointed liquidator of his company’s assets, Bloomberg has reported. The court session, held under private terms, was primarily focused on unraveling the circumstances leading to the fund’s failure and locating the remaining assets. Earlier, a Singapore court had approved the questioning of Zhu following his arrest at a Singapore airport on Sep. 29. Zhu was detained for four months for not cooperating with the liquidation process of 3AC. He is expected to be released imminently, with the court considering standard provisions for good behaviour. You might also like: Genesis seeks court approval for 3AC settl...

The court cited Sam Bankman-Fried’s alleged witness tampering as the main grounds for rejecting his release bid. FTX founder and convicted fraudster Sam Bankman-Fried will stay jailed after failing to convince a United States appellate court that he should be freed while his legal team appeals his conviction. In a Nov. 21 mandate, the U.S. Court of Appeals for the Second Circuit said Bankman-Fried’s previous attempts to tamper with two witnesses while on pretrial release was a major reason behind rejecting his request. “We have reviewed the Defendant-Appellant’s additional arguments and find them unpersuasive,” the court said. Bankman-Fried’s release motion was rejected by a U.S. appeals court. Source: Courtlistener Government prosecutors accused Bankman-Fried of leaking Caroline Ellison’s diaries to The New York Times in July, which caused his bail to be revoked by a New York District Court. Bankman-Fried argued the New York court failed to consider that he was engaged in activity...

Seattle-based cryptocurrency exchange Bittrex has received court approval to proceed with its revised bankruptcy plan, aimed at winding down its operations in the United States. On Sep. 30, Judge Brendan Shannon approved the company’s liquidation plan during a hearing in Delaware, aimed at repaying the remaining creditors, according to court filings. “As stated on the record at the hearing, the Court ruled that it would enter a revised Proposed Order, which resolves the SEC’s informal comments.” SEC filing Bittrex initially filed for bankruptcy protection in May, shortly after facing charges from the SEC for operating an unregistered securities exchange. The SEC also accused Bittrex of collaborating with crypto asset issuers to remove statements that could have prompted an investigation into whether these assets should be classified as securities. The exchange chose to shut down its U.S. operations and return assets to customers in the wake of the SEC...

The NFT artists were also ordered to cover Yuga Labs’ legal fees after determining the trademark infringement constituted an “exceptional case.” A United States district court judge has ordered nonfungible token (NFT) artists Ryder Ripps and Jeremy Cahen to pay Bored Ape Yacht Club creator Yuga Labs a total of $1.57 million in disgorgement and damages, along with legal fees, bringing an end to the long-running “copycat” NFT lawsuit . The Oct. 25 order follows an April 21 partial summary judgement granted in favor of Yuga Labs after the firm claimed that Ripps and Cahen, the defendants, violated copyright laws by making copycat versions of its Bored Ape Yacht Club (BAYC) collectibles. District court Judge John Walter awarded Yuga Labs $1.37 million after concluding the NFT firm was entitled to a disgorgement of the defendants’ profits. An additional $200,000 was awarded in statutory damages relating to cybersquatting violations. Yuga Labs v. Ryder Ripps et al - Notes from the Court...

While the pro-XRP lawyer didn’t anticipate XRP reaching a new all-time high after the ruling, he did expect the price to surpass the $1 resistance level. Despite a brief rally, the XRP (XRP) price did not reach anticipated levels after a recent favorable court ruling for the token. Among those with ambitious price targets for the cryptocurrency is pro-XRP lawyer John Deaton. Deaton addressed a post from a user named Moon Lambo on X (formerly Twitter), who criticized complaints from certain investors about slow price gains in digital currencies year-to-date. Moon Lambo said XRP has grown by 85% this year, implying a positive overall trend. Several weeks have passed since Judge Analisa Torres delivered the highly anticipated ruling that XRP is not considered a security in certain circumstances. This decision caused a significant surge in the price of the cryptocurrency within the broader Web3 ecosystem. It’s all about expectations. Unless we were in a full bull market - led by #Bitcoin...