#cryptocurrency

The lawsuit between the U.S Securities and Exchange Commission (SEC) and cryptocurrency exchange Coinbase is moving forward as the date for initial arguments has been confirmed. Coinbase's chief legal officer, Paul Grewal, revealed on Twitter that New York judge Katherine Polk Failla had approved the joint request from both parties to proceed with hearings. Coinbase has until August 4, 2023, to submit its initial brief and additional supporting documents by August 11. The SEC's opposition brief is due on or before October 10, with Coinbase's reply by October 24 or sooner.

The UK court has upheld Craig Wright's appeal, allowing him to maintain in legal proceedings that he is the originator of the Bitcoin white paper. Wright gained notoriety in 2016 when he professed to be Bitcoin's creator and subsequently sued Bitcoin Core's developers. While his claims have not been definitively proven, this court ruling enables Craig to continue his legal battles against companies, eliciting laughter across the cryptocurrency community with his antics.

The UK's data watchdog is setting its sights on Worldcoin, Sam Altman's initiative offering free crypto for iris scans. With digital ID on one side and cryptocurrency on the other, it's caught the Information Commissioner's Office's attention. "We note the launch of WorldCoin in the UK and will be making further enquiries," a spokesperson for the ICO says.

FTX, the prominent cryptocurrency exchange, was recently embroiled in controversy when court documents revealed a plan devised by Gabriel, the younger brother of FTX's CEO, SBF. According to the documents, Gabriel aimed to utilize FTX clients' funds to purchase the entire country of Nauru. The idea was to transform Nauru into a post-apocalyptic sanctuary, complete with a highly secretive laboratory for conducting human genetics experiments and other projects. Who needs a private island when you can have a whole sovereign nation, right? The court documents further detailed instances of transactions involving the founder's family, including those that have been previously disclosed. While the idea of buying a nation for such purposes seems like something out of a sci-fi movie, it underscores the madness that was going on inside the FTX.