#new york

On October 9, 2024, SEC Chairman Gary Gensler spoke at an event at the New York University School of Law in Manhattan. Once again, he took the opportunity to lay out the familiar crypto concerns that the SEC, under his leadership, has been raising for years.

District Judge Analisa Torres of the Southern District of New York imposed a $125 million fine on Ripple, citing their sales of XRP to institutional clients as breaches of federal securities laws.

Hack VC, a U.S.-based venture capital firm, has successfully amassed $150 million for investments in digital asset-related projects. The company is setting its sights on early-stage startups, with a portion of its team already operating from its New York base.

The New York Times, a prominent U.S. publication, has initiated a lawsuit against OpenAI and Microsoft, allegedly due to copyright violations that resulted in massive financial losses.

A former New York mob enforcer turned informant described SBF as feeling “out of his element” in jail and even considering paying another inmate for “protection.”

While delivering his speech at New York's Economic Club, Jerome Powell, the chairman of the US Federal Reserve, was interrupted and escorted out due to protesting climate activists. Their slogan of choice? "Off fossil finance Jay."

The UK government is set to convince financial firm Revolut, which also offers cryptocurrency services, to conduct its initial public offering (IPO) in London rather than New York. City Minister Tulip Siddiq plans to meet with company representatives this fall to discuss the proposal.

Paxos, the stablecoin issuer, has received the green light from the New York State Department of Financial Services (DFS) for introducing its products to the Solana blockchain.

The Securities and Exchange Commission (SEC) is urging a New York judge to reach a verdict in its lawsuit against Terraform Labs and co-founder Do Kwon without the need for a full trial.

New York Attorney General Letitia James has filed a lawsuit against major cryptocurrency firms, including Gemini, Genesis Global Capital, and Digital Currency Group, accusing them of a $1 billion fraud.

NYDFS wants to increase transparency from cryptocurrency companies operating in the state, particularly in their processes for listing and delisting cryptocurrencies. The new framework will require firms to develop their coin-listing policies in three key areas: governance for the coin-listing process, risk assessments of coins, and procedures for monitoring coins. The framework will also require firms to provide detailed information on their criteria and decision-making process for delisting a coin. The proposed legislation is open for public comments and will remain so until October 20th.

Apple has reportedly shelled out $5 million to secure the rights to Michael Lewis' upcoming book on Sam Bankman-Fried (SBF), the former CEO of FTX. The book, titled "Going Infinite: The Rise and Fall of a New Tycoon," is set to launch on October 3, coinciding with the start of SBF's criminal trial in New York. A documentary is also in the pipeline, directed by Nanette Burstein, known for her work on crypto evangelist John McAfee and Hillary Clinton.

OpenSea Head of Product Receives Prison SentenceNate Chastain has been sentenced to three months in prison for engaging in insider trades that amounted to $50,000. Chastain, aged 33, was found guilty of fraud and money laundering in a federal court in New York in May. This case marked the conclusion of what prosecutors deemed the first significant NFT insider trading case. Chastain profited by purchasing and selling at least 45 NFTs he was aware would be featured on OpenSea’s homepage. U.S. Attorney stated, “Today’s sentence should serve as a warning to other corporate insiders that insider trading – in any marketplace – will not be tolerated.”