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CoinFLEX creditors claim former CEO Mark Lamb and the OPNX exchange “misappropriated” their assets in a court filing. Some creditor s of cryptocurrency futures exchange CoinFLEX are alleging that OPNX, a new crypto exchange established in part by Three Arrows Capital (3AC) co-founders Kyle Davies and Su Zhu, was created using CoinFLEX assets without their consent.  According to a writ of summons filed in the High Court of Hong Kong and seen by Cointelegraph, CoinFLEX creditor s claim that OPNX co-founder and former CEO Mark Lamb is “misappropriating and/or otherwise wrongfully using the assets, human resources, intellectual properties, […] trade secrets and other technologies” of CoinFLEX by diverting them into OPNX. It alleges that Lamb performed these actions contrary to his responsibilities to CoinFLEX creditor s during his tenure.  Citing the document, creditors say that Lamb devoted “time, attention, skill and/or effort” to setting up OPNX while simultaneously being employed as ...

Netflix is accusing Conquest director Carl Erik Rinsch of spending $4 million of the series ’ budget on the purchase of Elon Musk’s favorite cryptocurrency, Dogecoin (DOGE). According to The New York Times, Netflix’s budget money, which was spent by director Carl Erik Rinsch, famous for the film 47 Ronin, was intended to finance the science fiction series Conquest, but was instead used to make investments in cryptocurrency. As per the New York Times report, Netflix allocated roughly $55 million for the creation of the new series. At first, however, the company only gave the project team $44.3 million. Later, Rinsch insisted the streaming giant allocate an additional $11 million, which he claimed was needed for props. You might also like: Crypto analyst bullish on Dogecoin as Tron’s network activity surges; Everlodge launches into $280T real estate market The director then decided to spend the additional $11 million issued by the company on investments, according ...

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...

Genesis has sued Gemini Trust for making preferential transfers of about $689 million According to Genesis, Gemini made the transfers at the expense of other creditors There has been a protracted legal feud between Genesis and Gemini since the collapse of FTX Genesis Global Capital, a leading crypto lender, has sued cryptocurrency exchange Gemini Trust, its former partner, over an allegation of making preferential transfers of an “aggregate gross amount of no less than approximately $689,302,000.”  In a filing Genesis submitted last Tuesday, the crypto lender accused Gemini of making the transfers at the expense of other creditors, asking the court to “correct this unfairness.”  There has been a protracted legal feud between Genesis and Gemini since the collapse of FTX. Following the unfortunate event, Genesis filed for bankruptcy last January. Gemini sued Digital Currency Group (DCG), Genesis’ parent company, in July over claims of defamat...

A closely followed crypto analyst is sharing his price targets for Bitcoin (BTC) and four other digital assets. Pseudonymous analyst Inmortal tells his 201,000 followers on the social media platform X that Bitcoin could soar by more than 255% from its current value in the next bull market. He also says that Ethereum (ETH) could soar more than 393% from its current value and ETH competitor Solana (SOL) could soar more than 813% from its current value. Lastly, the trader predicts decentralized oracle provider Chainlink (LINK) could soar more than 1,190% from its current value, and 0x0.ai (0x0), an AI-powered smart contract auditor, could soar more than 3,378% from its current value. “I don’t usually do this, but here it goes. Bull run (2024-2025) predictions: BTC: $131,000 ETH: $9,800 SOL: $490 0x0:  $4 LINK: $180.” Looking at Ethereum, the trader predicts that ETH will soon take out recent high prices and cross the $2,100 level within days. “Sweep the...

Genesis says the Winklevoss-founded crypto exchange benefited at the expense of Genesis’ creditors when it withdrew the money at the beginning of the crypto winter. Genesis Global Capital, a crypto brokerage firm owned by Digital Currency Group (DCG), is seeking $689 million from Gemini, saying the Winklevoss-founded crypto exchange benefited at the expense of Genesis’ creditors. In a Nov. 21 lawsuit filed in U.S. District Court for the Southern District of New York, lawyers representing Genesis claim that Gemini withdrew n early $690 million from its client “at the nadir of the significant cryptocurrency market turmoil,” which started in the spring of 2022. In an effort “to correct this unfairness,” Genesis is now seeking to recover the money from Gemini as the crypto exchange continues to benefit from that withdrawal “to this day” through retention of the assets, lawyers for the New York-based broker added. “Thus, Plaintif...

The Justice Department said the funds were stolen from over 70 victims who fell prey to a relationship scam, adding that USDT issuer Tether aided the seizure. Tether (USDT) tokens worth $9 million were seized by the U.S. Department of Justice (DoJ) from a criminal organization utilizing romance schemes to swindle unsuspecting American investors out of their cryptocurrency holdings.  The DoJ said the assets rightfully belonged to over 70 victims of a so-called “pig butchering” scam, a fraudulent scheme that involves forming a romantic relationship with a target and eventually convincing them to invest money into unsound platforms.  The platforms, usually crypto exchanges or protocols, are operated by scammers and users find themselves unable to withdraw their funds after a while. Per a Nov. 21 press release, the DoJ plans to dedicate resources to tackling illicit activity and bad actors using crypto for public harm. This seizure should also serve as a reminder to cyber...

Kraken’s SEC lawsuit rocks Solana (SOL) and the crypto market, with SOL dropping 5.53%. Solana’s substantial trading volume amidst the dip hints at potential recovery opportunities. MACD and RSI indicators signal bearish momentum for the SOL/USD trading pair. The US Securities and Exchange Commission’s recent lawsuit against Kraken has sent ripples through the cryptocurrency market. The accusation, which points to Kraken’s alleged operation as an unregistered securities exchange, broker, and clearing agency, has notably affected Solana (SOL) and several other cryptocurrencies. Here is the full list: pic.twitter.com/zKKCfVYfgq — Crypto Tea (@CryptoTea_) November 20, 2023 Solana’s Market Reacts to Legal Developments In response to the SEC’s filing, SOL’s market value has experienced notable fluctuations. From a 24-hour peak of $60.92, Solana’s price fell to a low of $55.36 before stabilizing somewha...

Swift’s collaboration with Chainlink and 12+ financial institutions transferred tokenized value “efficiently” using CCIP. LINK price dropped, and continuous selling pressure could lead it below $14. An entry around $13.83 or $14 may be perfect before another uptrend begins. Chainlink announced that Swift’s collaboration with the blockchain network and 12+ leading financial institutions demonstrated the ability to transfer tokenized value “efficiently” and securely across public and private blockchains using CCIP. Swift’s successful collaboration with #Chainlink and 12+ leading financial institutions demonstrated the ability to transfer tokenized value efficiently and securely across public and private blockchains using CCIP. The onchain future for RWAs ️https://t.co/yUzMZqCvSe pic.twitter.com/ye1Y0lASdb — Chainlink (@chainlink) November 21, 2023 With respect to its partnership with more than a dozen major financial instituti...

The U.S. Department of Justice proposes a $4 billion settlement with Binance, potentially implicating founder Changpeng Zhao in a landmark case involving allegations of money laundering and sanction violations. The U.S. Department of Justice (DOJ) is reportedly in advanced stages of finalizing a significant financial settlement with Binance. This settlement , potentially exceeding $4 billion, aims to conclude the lengthy investigation into alleged financial misconduct by the company – according to reports from Bloomberg.  Key aspects of the investigation include accusations of money laundering, bank fraud and breaches of U.S. sanctions. Central to these allegations is Changpeng Zhao, the founder and CEO of Binance, who may personally face criminal charges in the United States. Zhao is currently residing in the United Arab Emirates, a nation with no U.S. extradition treaty. US SEEKS MORE THAN $4B FROM BINANCE TO END CRIMINAL CASE — *Walter Bloomberg (@DeItaone)...

Investors are looking at yPredict (YPRED), an artificial intelligence (AI) and machine learning-powered crypto trading platform, near the end of its presale, which has raised almost $5 million. YPRED will eventually be listed on multiple crypto exchanges. yPredict democratizes crypto analytics yPredict aims to make advanced crypto analytics accessible to all traders by providing custom-built AI models that generate actionable market insights. yPredict’s whitepaper explains that these models offer clear, objective trading signals, enabling investors to capitalize on price movements without hours of prior research. Alongside trading signals, the yPredict platform offers real-time sentiment Analysis , AI-powered technical Analysis , and automated chart pattern recognition, among other Features . You might also like: Van Gogh NFTs sell for millions as tokens moon again This analytical suite gives traders an edge. Additional highlights include Alt_Pump_001, an AI ...

Crypto lawyer John Deaton says the best way to profit from price surges is to buy before they hit the news.  Deaton said crypto FOMO often peaks by the time it hits the news. The lawyer advised his followers to buy crypto when prices are down and sell when they rise 20-30%. In a series of tweets on X, reputed crypto lawyer and long-time pro-XRP advocate John Deaton put on his financial advisor hat and preached to the crypto community about how to profit off price surges.   One user on X tweeted that they lost money after acting on a post from the lawyer. In response, Deaton, in the tweets, unveiled his trading strategy in deciding the best time to acquire a crypto asset.  According to the lawyer, “You don’t buy any asset based on the new “news” causing people to FOMO. That’s when you SELL the asset.” Using XRP as an example, he added, “You don’t wait for new news to buy XRP. You buy your XRP when people are selling XRP. You buy all the ...

A million investors are hoping for Shiba Inu to reach the $0.01 milestone and make them turn millionaires and billionaires. The 1-Cent dream is alive and SHIB investors are ready to wait for the long-term to achieve the desired financial results. The majority of holders want SHIB to first reach $0.01, then move to $0.50, and eventually hit $1. Also Read: Shiba Inu: $25 Investment in SHIB Turns $1.7 Million in November 2023 SHIB investors are an ambitious lot and demand more from the token’s developers to help it reach its target. The developments include burning tokens on Shibarium and launching new projects that could help its price to sustainably scale up. In this article, we will provide a long-term price prediction for when Shiba Inu might reach 50 Cents ($0.50). Shiba Inu: Here’s When SHIB Could Reach 50 Cents Source: Pixabay Shiba Inu is currently trading at $0.00000896 and is looking to delete a zero in the charts. SHIB is moving with five zeroes in the in...

In a recent interview with Bloomberg, Mike Belshe, CEO of crypto exchange BitGo, stated that market structure needs to improve before the U.S. SEC will grant approval for Bitcoin ETFs. Mike Belshe, CEO of cryptocurrency exchange BitGo, has suggested that all indications are leaning towards a favorable outcome for a spot Bitcoin (BTC) exchange-traded fund (ETF). However, he emphasized that the journey ahead won't be without challenges. In an interview with Bloomberg on November 16, Belshe explained that based on the discussions taking place between firms seeking Bitcoin ETF approval and the United States Securities and Exchange Commission (SEC), he holds an optimistic view that approval is imminent. However, he pointed out that improving the market structure is a prerequisite before the SEC grants ultimate approval for a Bitcoin ETF: “I think it is quite likely we have another round of ETF rejections before we get the positive news.” Belshe reiterated the SEC's stance on sep...

Fidelity Investments has filed for an Ethereum exchange-traded fund (ETF). According to Seyffart, Fidelity is the 7th company to submit a spot Ethereum ETF proposal. Fidelity intends to list the Ethereum ETF on an exchange owned by Cboe Global Markets. Fidelity Investments, a renowned money management outfit, has filed for an Ethereum exchange-traded fund (ETF). According to reports, James Seyffart, a top ETF analyst, posted a screenshot of the filing on his X app account. The shared content noted that “The Exchange proposes to list and trade shares of the Fidelity Ethereum Fund under BZX Rule 14.11(e)(4) Commodity-Based Trust Shares. Update: @Fidelity joins the spot #ethereum ETF race by filing a 19b-4 with @CBOE https://t.co/rxNEzpzh3g pic.twitter.com/o96XspPDEP — James Seyffart (@JSeyff) November 17, 2023 According to Seyffart, Fidelity becomes the 7th company to submit a spot Ethereum ETF proposal by this filing. The other companies with simila...

Fund management titan BlackRock officially filed for a spot Ethereum ETF (exchange-traded fund) as the race to launch crypto ETF products gathers momentum. The $9 trillion asset manager filed for a spot Ethereum ETF after registering the iShares Ethereum Trust last week. If approved, the spot ETH ETF will list on NASDAQ. 🔥FACTS JUST IN🔥#BlackRock, the world’s largest asset manager, has taken a significant step by officially filing its Ethereum Trust S-1 form with the SEC. This move is to introduce a spot ethereum exchange-traded fund (ETF) on #Nasdaq…👀🔥 #Crypto #Ethereum #ETH #ETF pic.twitter.com/3CmWXaqsYn — All Facts Crypto (@AllFactsCrypto) November 16, 2023 BlackRock Driving Expectations Of Spot Crypto ETF Breakthrough BlackRock filed for a spot Bitcoin ETF back in June, a move that fanned market expectations of an eventual breakthrough for spot crypto ETF products. BlackRock’s interest in spot crypto ETFs has helped t...

INJ’s price dropped by over 10% in the past day, which left it trading at $15.97. Both ARB and LINK also suffered losses of more than 6% throughout the past 24 hours. Michael van de Poppe singled out ARB, INJ, and LINK as his top picks for the next bull run. In an X post shared yesterday, the renowned cryptocurrency trader and analyst Michael van de Poppe shared some of the tokens that have caught his attention. According to the post, van de Poppe pointed out Arbitrum (ARB), Injective (INJ), and Chainlink (LINK) as his top 3 altcoin picks for the next bull run. Request 01 – $ARB Update on this one, which didn't really hit the exact levels as mentioned in the chart, but the theory remained the same. Had a correction and retest and is now seeking for new highs at $1.36. pic.twitter.com/b7hTz664as — Michaël van de Poppe (@CryptoMichNL) November 16, 2023 Although ARB did not exactly hit the levels van de Poppe predicted earlier, the theory re...