sbf

#FenwickWestSettlesFTXFor54M
Fenwick & West, kancelaria prawna z Doliny Krzemowej, która pełniła rolę głównego doradcy FTX przed upadkiem giełdy w listopadzie 2022 roku, zgodziła się 22 maja 2026 roku zapłacić 54 miliony dolarów w celu uregulowania roszczeń od klientów FTX, którzy twierdzili, że firma pomogła umożliwić jeden z największych oszustw finansowych w historii USA.
Wstępne porozumienie zostało złożone w sądzie federalnym w Miami i wciąż wymaga zatwierdzenia przez sąd.
📊 Co tak naprawdę mówią liczby:
Powodowie twierdzili, że Fenwick pomógł w stworzeniu "cieniowych podmiotów", które były specjalnie zaprojektowane, aby ułatwić przywłaszczenie aktywów klientów i unikać nadzoru regulacyjnego, wykraczając znacznie poza rutynowe doradztwo prawne.

#pol In a new development concerning the #cryptocurrency industry's long-standing Kleiman v. Wright case, Ira Kleiman's appeal against self-proclaimed #bitcoin creator Craig Wright was denied earlier this Thursday.
The decision has set the focus back on the ongoing issue of ownership of W&K through Wright's wives' court cases.
The rejection's basis
The U.S. 11th Circuit Court ruled against granting a new trial, stating that the deference to the district court was particularly appropriate when a new trial was denied, and the jury's verdict remains unchanged. This is especially significant when considering whether remarks or misconduct gravely impacted the jury's calm and impartial evaluation of the case.
During the trial, the district court granted a motion to limit evidence about Ira Kleiman’s relationship with his brother, David Kleiman.
The intent was to avoid undue prejudice since there were concerns that the jury would decide based on Ira Kleiman’s relationship with his late brother.
Despite this, there were allegations that Wright's counsel knowingly breached this order by bringing up details about the sibling relationship.
The Estate pushed for a new trial based on these alleged breaches. The district court, however, felt these purported violations were not so detrimental as to warrant a new trial.
The court's ruling indicated that the trial's outcome was unlikely to have been swayed significantly by the alleged infractions.
The initial ruling's details
Back in April 2022, the estate of the late computer scientist appealed against a Florida court's decision favoring Craig Wright.
The crux of the case revolves around intellectual property rights related to Bitcoin and a vast sum of the cryptocurrency, now valued in the billions. David Kleiman's estate was awarded $143 million but was denied the more valuable Bitcoin holdings.
Ira Kleiman initiated this lawsuit in 2018, representing the estate, claiming that the Bitcoin in question was worth over $10 billion.
Fast forward to today, the 1.1 million bitcoins involved are valued at over $47 billion. The heart of the disagreement stems from who mined these Bitcoins. Wright asserts that he is the infamous Satoshi Nakamoto, a claim that remains contested within the industry.#sbf #linea

#pol Coinbase has been granted oral arguments in its legal battle against the SEC.
The case centers on whether Coinbase's transactions should be considered investment contracts and therefore securities.
The oral arguments are a significant step in the case and could have a major impact on the regulation of cryptocurrency.
In an exciting twist in the ongoing face-off between Coinbase and the U.S. Securities and Exchange Commission (SEC), a federal judge has given the green light to Coinbase’s request for oral arguments.
The cryptocurrency exchange is firmly arguing that its transactions should not be considered investment contracts, that its staking services do not involve investing money, and that digital assets are not securities.
Judge Katherine Polk Failla’s Decision
This decision was made by Judge Katherine Polk Failla at the Thurgood Marshall United States Courthouse in New York. In her announcement, she scheduled the oral arguments for January 17, 2024, considering the court’s busy schedule for the rest of the year.
The parties involved and interested parties (referred to as amici curiae) have been asked to propose a reasonable timeline for the oral arguments, with a submission deadline of November 17, 2023.
What’s the issue all about?
At the heart of this legal dispute is the use of the Howey Test, a legal standard used to figure out if a transaction qualifies as an investment contract and, as a result, a security.
Coinbase has been firm in their recent arguments against the SEC’s enforcement action, stating that not all transactions involving capital with the hope of making a profit should be seen as securities. They stress that their transactions should only be considered securities if they involve ‘investment contracts.’
Read More: Will Coinbase Win Its Case Against the SEC? Legal Experts Weigh In
The Importance of Oral Arguments
The approval of oral arguments is a significant step in this legal battle, giving Coinbase the opportunity to verbally present its case and explain why its transactions should not be labeled as securities.
This development emphasizes the need to clearly define the legal status of digital assets and transactions in the cryptocurrency industry.
Getting Ready for the Future
With the oral arguments set for early 2024, both parties need to prepare for this important event. For Coinbase, this small yet substantial victory in securing oral arguments offers a chance to make a strong case and potentially influence the future of cryptocurrency regulation.
The stage is set for a critical moment in this high-stakes battle between a #cryptocurrency giant and the SEC.
Also Read: Coinbase Warns IRS #crypto Tax Rules Will Harm Industry, Invade Privacy#sbf #linea

#etf Christine Kim, vice president at Galaxy Research, shares the latest update on the Ethereum Dencun upgrade timeline. The recently launched Devnet 11 is up and running. A Goerli shadow fork is also scheduled to occur.
Ethereum developers are most likely to launch a new devnet, Devnet 12, for further code testing.
As stated in a report detailing the latest Ethereum AllCore Developers Consensus Call, if developers do not work on updating client releases during the week of Devconnect, an Ethereum developer-focused conference in mid-November, Devnet 12 will likely launch sometime in early December.
Given these new estimates for testing, it seems unlikely that developers will also be able to launch the upgrade on the Goerli testnet in late November, as planned. Developers will most likely begin upgrading public Ethereum testnets after the holidays in Q1, 2024.
Ethereum fees soar 30%
According to on-chain analytics firm IntoTheBlock, total Ethereum fees climbed by 30% this week due to many smaller-cap tokens seeing a surge in on-chain trading volumes.
According to Santiment, at the start of November, Ethereum network growth reached its highest level in 24 days, while supply on exchanges fell to its lowest level since $ETH 's inception.
New Ethereum addresses surpassed 38,000 by the end of October, as the ETH #exchange supply fell further to 8.37%.
The Ethereum price increased to $1,875 on Nov. 2, which Santiment believes was helped in part by the highest "day" of new addresses established since Oct. 7. At the time of writing, ETH had fallen below that high and was down 0.09% in the last 24 hours to $1,808.#PYUSD #xrp #sbf

#Write2Earn Emerging from the shadows of the crypto world's most significant scandal, a leaked image of Sam Bankman-Fried in jail starkly illustrates the downfall of the former #ftx CEO
From zero to hero
100 years of jail time?
The once-celebrated founder Sam Bankman-Fried, known as #sbf , has traded lavish conference stages for the bleak walls of the Metropolitan Detention Center in Brooklyn.
A recent leak of Bankman-Fried's first jail photo has surfaced, marking a stark contrast to his former high-flying lifestyle.
This image stands as a visual testimony to the dramatic fall of a man who, at one point, was hailed as a crypto visionary.
From zero to hero
Bankman-Fried's journey from being the “boy wonder of crypto” to a disgraced former CEO is a cautionary tale of rapid success and equally swift downfall.
The MIT graduate who founded Alameda Research and the FTX #exchange once boasted a personal wealth estimated at $26 billion, adorned magazine covers, and enjoyed elite company.
However, his empire crumbled almost overnight after a rival executive's tweet last November sparked a multibillion-dollar bank run, revealing severe financial mismanagement.
Convicted of defrauding investors and laundering money, SBF's meteoric rise and precipitous fall serve as a sobering reminder of the perils of unregulated digital markets and the volatility of digital tokens.
100 years of jail time?
As reported by @WISE PUMPS , jurors delivered a unanimous verdict, convicting Bankman-Fried on all seven counts of fraud and conspiracy last November.
Accused of orchestrating one of the most significant financial frauds in American history, SBF faces the prospect of a maximum sentence that could span over a century.
Sentencing norms for white-collar criminals are typically less severe than those for violent offenses due to the non-physical threat posed by offenders.
Historical precedents, such as the case of Michael Milken in 1990 who was released after two years for cooperating with the government, suggest potential avenues for SBF's legal team. Yet, the scale of Bankman-Fried's offenses and the impact on FTX's customers and the broader crypto market may influence the severity of his sentence.#TrendingTopic

#SBF nie tylko prowadził giełdę kryptowalut.
Cicho budował to, co mogłoby być najbardziej przenikliwym portfelem inwestycyjnym w nowoczesnych finansach — aż wszystko spalił, kradnąc od swoich klientów.
Niech liczby mówią.
1. #Anthropic — Klejnot Korony AI
#FTX zainwestował $500M w Anthropic za 8% udziałów, gdy firma AI była warta tylko $2.5 miliarda. Wczesny. Wizjonerski. Perfekcyjny.
A potem nadeszło załamanie.
Likwidatorzy bankructwa sprzedali ten sam udział w dwóch partiach do początku 2024 roku — zarabiając w sumie $1.3B. W tamtym czasie to wydawało się zwycięstwem.