ChainCatcher news, the American cryptocurrency law firm BurwickLaw announced that it will represent investors who suffered losses on Pump.fun in a legal lawsuit.It is reported that among the 14 million cryptocurrency wallets interacting with Pump.fun, only 0.4% of wallets made profits exceeding $10,000.

ChainCatcher news, according to Bloomberg, the U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Elon Musk in federal court in Washington, accusing him of securities violations. The specific details of the lawsuit have not yet been disclosed. Reports indicate that the relevant lawsuit has appeared in court documents.Court documents show that the SEC's lawsuit against Musk is related to his purchase of Twitter stock.

ChainCatcher news, FTX's bankruptcy administrator is being sued by creditor Lidia Favario for extravagant spending. Favario pointed out that the bankruptcy administrator's expenses during the handling of the FTX bankruptcy proceedings were excessively luxurious, including high-end hotel accommodations and exorbitant transportation costs. She mentioned that A&M professionals spent $971.74 for one night at a luxury hotel in New York, and one professional spent $1,733 on a taxi.Additionally, FTX paid $2,683 to have three taxis wait for CEO John Ray's testimony. Favario is urging the court to expand the review of expenses to ensure compliance with the Department of Justice's reasonable spending standards.

ChainCatcher news, on the afternoon of the 7th, the Civil Division 42 of the Seoul Central District Court held the first debate preparation for the lawsuit filed by 27 former and current senior executives of WeMade against the company for approximately 16.2 billion Korean Won in damages.Among these employees, some are still working at WeMade, consisting of members from the subsidiary Wemade Tree (the former blockchain department of WeMade). The company developed WEMIX, which was first listed on cryptocurrency exchanges in 2020. WeMade subsequently merged with Wemade Tree in February 2022.During the debate preparation that day, the plaintiff's representative argued: "The plaintiffs are employees who developed WEMIX and signed a compensation agreement for WEMIX development with the investors. The condition is that they have worked for more than 3 years." They further added: "The company has emails stating that it would clearly promise the plaintiffs token compensation."The judges commented: "The weakness of the plaintiffs is the lack of a contract," and "(even so) it is strange for the defendant to say they cannot give the employees a penny just because there is no contract."Previous news, former and current employees of Wemade Tree (now merged into Wemade), the development company of the WEMIX project, have filed a lawsuit against Wemade for damages amounting to 16.2 billion Korean Won (approximately 11.85 million USD).

ChainCatcher news, OpenAI CEO Sam Altman's sister Ann Altman filed a lawsuit on Monday, accusing her brother of frequently sexually abusing her from 1997 to 2006.The lawsuit was filed in the U.S. District Court for the Eastern District of Missouri, alleging that the abuse occurred at their home in Clayton, Missouri, starting when Ann was 3 years old and Sam was 12. The lawsuit claims that the abusive behavior "occurred several times a week." It states that "as a direct and proximate result of the aforementioned sexual assault," the plaintiff has experienced "severe emotional distress, mental anguish, and depression, which is expected to continue."Ann has previously publicly accused her brother of sexual abuse on platforms like X, but this is her first time taking him to court. The lawsuit seeks a jury trial and damages exceeding $75,000.In a joint statement with their mother and brother posted on X, Sam Altman denied the allegations.

ChainCatcher news, according to The Block, U.S. District Judge Katherine Polk Failla of the Southern District of New York approved Coinbase's interlocutory appeal request on Tuesday, temporarily halting the lawsuit by the U.S. Securities and Exchange Commission (SEC) against the exchange. An interlocutory appeal refers to an appeal made before the judge has issued a final ruling, and such requests are typically rarely granted. The case will next be submitted to the Second Circuit Court of Appeals for consideration.Judge Failla noted in her order that this case raises a key legal question regarding the applicability of the Howey test in the context of crypto assets, a question that has significant divergence, and its resolution will help advance the final ruling on SEC enforcement actions. She emphasized that due to the "conflicting authoritative interpretations" of the Howey test in crypto assets, further clarification from the Second Circuit is needed.Coinbase Chief Policy Officer Faryar Shirzad stated that this decision is yet another blow to the SEC leadership's attempts to create ongoing uncertainty and chaos, and he thanked Judge Failla for allowing the interlocutory appeal.

ChainCatcher news, according to Bloomberg, the cryptocurrency exchange Gemini Trust Co., founded by the Winklevoss twins, has agreed to pay $5 million to settle a lawsuit filed by the Commodity Futures Trading Commission (CFTC). The lawsuit claimed that Gemini misled derivatives regulators when attempting to launch the first U.S.-regulated Bitcoin futures contract. On Monday, documents signed by both parties disclosed this settlement agreement, thus avoiding a trial scheduled to begin on January 21 (the day after Trump's second inauguration as President of the United States). Gemini neither admitted nor denied liability in this case.In 2022, the CFTC sued Gemini in Manhattan federal court, accusing the exchange of making false and misleading statements about how to prevent Bitcoin price manipulation. On Monday, U.S. District Judge Alvin Hellerstein approved the settlement agreement. Last November, Judge Hellerstein denied Gemini's request, ruling that a jury must determine whether 32 statements made by Gemini executives to regulators were misleading.Gemini still faces a lawsuit filed by the Securities and Exchange Commission (SEC), which accuses the exchange and cryptocurrency lending company Genesis Global Capital of illegally raising billions of dollars in crypto assets from investors through the so-called Gemini Earn program. In February of this year, Gemini agreed to return at least $1.1 billion to customers as part of another settlement reached with New York regulators.

ChainCatcher news, the American cryptocurrency lobbying group (Blockchain Association) stated on social media that a lawsuit has been filed against the new "broker" related regulations enacted by the IRS and the Treasury Department.The IRS and the Treasury Department have exceeded their statutory authority by expanding the definition of "broker" to include providers at the front end of DeFi transactions, even though they do not execute trades. This not only infringes on the privacy rights of individuals using decentralized technology but also pushes emerging technologies overseas.

ChainCatcher news, regarding the "U.S. judge ruling that Coinbase can delist WBTC," BiT Global stated that it is disappointed with the ruling but respects the court's decision and appreciates the court's prompt handling of the matter and serious consideration.It emphasized that this ruling is not a final judgment on the case, but merely determines that Coinbase's delisting does not seem to have caused irreparable harm to BiT Global, thus the temporary restraining order is reasonable. The court clearly stated that this ruling does not prevent BiT Global from seeking a preliminary injunction or continuing to litigate the case through trial in the future. "We look forward to continuing to litigate this case and having the opportunity to fully demonstrate the impact of Coinbase's erroneous decision in the future."

ChainCatcher news, according to Bloomberg, the Internal Revenue Service (IRS) stated in a lawsuit that staking cryptocurrency should immediately create a tax obligation upon completion.The IRS dismissed the lawsuit filed by cryptocurrency investor Joshua Jarrett in the U.S. District Court for the Middle District of Tennessee. The lawsuit concerns the tax treatment of staking, which is the process of generating new tokens by using existing tokens and computing power to validate currency transactions.In a response on December 20, the IRS denied that staking creates new property and argued that the taxpayer (Jarrett) should pay taxes on the value of the tokens when he receives the staking rewards.

ChainCatcher news, encrypted influencer Haliey Welch posted a response to the HAWK token crash incident. She stated that she will fully cooperate with the investigation and assist the legal team representing the affected investors, dedicated to uncovering the truth and holding the responsible parties accountable.Previously, a meme coin featuring Haliey Welch's portrait, HAWK, was launched on December 4, reaching a market cap of $500 million, before plummeting 90%, prompting investors to file lawsuits. Welch urged affected investors to contact the Burwick legal team.

ChainCatcher news, according to Cointelegraph, a crypto advocacy group is urging the U.S. Securities and Exchange Commission to immediately review all existing crypto-related investigations, Wells notices, and ongoing lawsuits from the first day of Trump's new administration.The Digital Chamber's Token Alliance stated in a release that the new U.S. government will provide the SEC with an opportunity to reset its "historically problematic relationship" with the digital asset industry. Notably, Trump's nominee for SEC Chairman, Paul Atkins, is one of the members of the advisory board of this alliance.

According to ChainCatcher news, as reported by decrypt, Crypto.com voluntarily withdrew its lawsuit against the U.S. Securities and Exchange Commission (SEC). Market analysts believe that the timing of this decision is not coincidental, as the exchange's CEO Kris Marszalek had previously met with Donald Trump at Mar-a-Lago. The decision to withdraw the lawsuit may indicate that Crypto.com believes closer cooperation with the new government could be beneficial for its open attitude towards supporting crypto innovation.

ChainCatcher news, according to BusinessWire, a group of investors has recently filed a class action lawsuit against the founder of the Texas-based Bitcoin mining company Rhodium Enterprises, accusing him of fraud.The lawsuit was filed by attorneys from Iacuone McAllister Potter, claiming that the defendants (including Rhodium executives and Imperium Investments Holdings, LLC based in Fort Worth) deliberately misled the plaintiffs by concealing key information and engaging in proprietary trading, resulting in a total investment of $33 million. The case has been filed in the Tarrant County District Court. The lawsuit states, "The defendants intentionally misled and deceived the plaintiffs to secure their millions of dollars in investments so that the defendants could enrich themselves and make Imperium wealthy."The plaintiffs include a dozen investors in Rhodium, who claim that important facts regarding their investments and Rhodium's business operations were deliberately concealed. Most notably, the lawsuit alleges that the defendants failed to disclose a pending transaction to sell Rhodium's operational facilities to direct competitor Riot Blockchain, a deal that directly triggered conflicts with key power contracts.

ChainCatcher news, regarding BiT Global suing Coinbase for $1 billion, accusing it of market manipulation by delisting WBTC. Coinbase's Chief Legal Officer posted on X: "When an asset no longer meets our listing standards, we will drop it. When another asset can meet or exceed market demands without sacrificing those standards, we will list it."

ChainCatcher news, Roger Ver's legal team submitted a motion to a federal judge to dismiss the criminal tax evasion charges against the early Bitcoin promoter, arguing that the relevant tax laws are unclear and alleging government misconduct.Ver is accused of failing to pay approximately $50 million in taxes and was prosecuted for not reporting taxes on Bitcoin sales in 2017 and for undervaluing his assets when renouncing his U.S. citizenship in 2014. The motion states that the Department of Justice's charges violate Ver's rights and that the tax law guidance on which the charges are based is insufficient, making it difficult for taxpayers to understand their legal obligations. Ver's lawyers also claimed that the government secretly prosecuted him during negotiations and did not show a willingness to cooperate.

ChainCatcher news, recently Musk requested a U.S. court to stop the U.S. open artificial intelligence research center OpenAI from "illegally" transforming into a for-profit entity. A spokesperson for OpenAI stated that Musk's application is "repetitive and still baseless."In February of this year, Musk filed a lawsuit, claiming that when he provided funding and other support for the founding of OpenAI, there was an agreement with the company's two co-founders that OpenAI should be a "non-profit organization," but OpenAI violated its founding goals and mission by pursuing profit. In June, Musk withdrew this lawsuit, only to refile it in August.In November of this year, Musk's lawsuit against OpenAI escalated again, accusing OpenAI of attempting to monopolize the generative artificial intelligence market.

ChainCatcher news, former CFTC Chairman Chris Giancarlo discussed the high-profile lawsuit by the U.S. SEC against Ripple regarding XRP in an interview this week. The SEC alleges that Ripple's issuance of XRP violated securities laws, with a federal court ruling that some of the issuance meets the criteria for securities while others do not.Giancarlo believes that the SEC should reconsider its approach, especially in light of recent legal outcomes and the potentially changing regulatory environment. When asked whether the SEC would drop the Ripple lawsuit, Giancarlo stated: I think they should... I bet they will.

According to ChainCatcher, Bloomberg reports that former Binance executive Amrita Srivastava has filed a whistleblower lawsuit in the UK for wrongful termination. During her time in London, Srivastava stated to the labor arbitration tribunal that she was unfairly dismissed after reporting an incident involving colleagues soliciting bribes from clients for preferential treatment.In response, Binance stated that the company was already aware of the matter and had initiated an internal investigation, and that the employee was terminated due to poor job performance, with the dismissal decision made prior to her whistleblowing. The case is currently being heard by the UK labor arbitration tribunal.

ChainCatcher News: Special Counsel Jack Smith of the U.S. Department of Justice submitted materials to the U.S. Federal Court on the 25th, abandoning the litigation process for two criminal cases against former President Trump, who is seeking to return to the White House, regarding allegations of overturning the results of the 2020 U.S. presidential election and mishandling government confidential documents.