ChainCatcher news, crypto lawyer John Deaton stated that SEC Chairman Gary Gensler, while refusing to meet with U.S. cryptocurrency executives like Coinbase CEO Brian Armstrong and Kraken CEO Jesse Powell, held a private meeting with FTX's SBF. He questioned whether the $10 million donation from SBF to politicians was related to the special regulatory treatment he received and demanded that the SEC make the relevant meeting records public.

ChainCatcher news, over 100 legal leaders have signed an open letter warning lawyers questioning the U.S. election not to spread false information in court documents. It is reported that Trump filed numerous lawsuits after losing the 2020 election, claiming that the Democrats cheated in the election. A few prominent lawyers who worked for Trump, including Rudy Giuliani, lost their licenses for spreading false information.

ChainCatcher news reports that lawyers for Binance and former CEO Changpeng Zhao are once again attempting to dismiss the lawsuit filed against them by the U.S. Securities and Exchange Commission. They have filed a motion to dismiss the amended complaint submitted by the SEC last month.It states that the amended complaint merely "verbally" acknowledges the previous court ruling, which determined that the crypto assets themselves are not securities, but refuses to accept the logical conclusion of that ruling, which is that reselling these assets on the secondary market long after the developers initially distributed the crypto assets does not constitute "securities" transactions. Instead, the SEC's revised complaint continues to assert that nearly all transactions involving crypto assets (including blind secondary market resales of tokens) are securities transactions, because some buyers may hope that the asset's value will appreciate.

ChainCatcher news, according to CoinDesk, U.S. prosecutors handling the case of former FTX executive Nishad Singh have requested that the sentencing judge consider Singh's "substantial assistance" and "exemplary cooperation" in the government's investigation of FTX.In a filing submitted on October 23, prosecutors stated that Singh "has shown genuine remorse and a willingness to help." Singh assisted the government in understanding how FTX's code allowed for the illegal use of customer funds and detailed the transactions made by Sam Bankman-Fried using the stolen funds.In February 2023, the former engineering chief pleaded guilty to six criminal charges, including fraud and conspiracy, related to the collapse of FTX in November last year. Last week, his lawyers requested a federal judge to waive his imprisonment in a sentencing document submitted on October 16. They described him as "an unusually selfless person," claiming that his role at FTX was limited and detailing his cooperation with authorities. Singh and former FTX Chief Technology Officer Gary Wang are both awaiting sentencing.

ChainCatcher news, according to Cointelegraph, anti-crypto U.S. Democratic Senator Elizabeth Warren and crypto-friendly Republican candidate John Deaton will hold two debates on October 15 and October 17 ahead of the 2024 election. New England Public Media and GBH News will host the debate between the two Senate candidates in Springfield on October 17, and Warren and Deaton will also debate on WSBK-TV in Boston on October 15. It is currently unclear whether digital assets will be a topic of debate between the two candidates. GBH News has stated that it will not share these topics in advance.During her tenure, Warren has been outspoken in her criticism of cryptocurrencies, linking digital assets to funding illegal activities. Deaton is a lawyer who supports Ripple and other crypto companies facing lawsuits from the U.S. SEC. Several polls in September showed Warren leading Deaton by more than 20 percentage points, and many expect this to be a referendum on cryptocurrency policy. Deaton stated on social media that the SEC is "pushing an anti-crypto agenda" through enforcement actions and criticized SEC Chairman Gary Gensler.

ChainCatcher message, OKX Star posted on platform X stating that over 10% of OKX employees are professional lawyers and compliance managers. OKX will seriously fulfill its commitments to global regulators while also focusing on innovation and will continue to launch products to serve 50 million customers worldwide.

ChainCatcher news, according to Bloomberg, the cryptocurrency industry hopes that the upcoming U.S. presidential election will bring a person with a more lenient approach to law enforcement into the White House, thereby ending the long-standing struggle with the U.S. Securities and Exchange Commission. Although Trump criticized cryptocurrencies during his last presidential term, some industry lawyers expect that if Trump wins, the U.S. Securities and Exchange Commission will cease its active enforcement of the digital asset market.

ChainCatcher news, according to The Block, the FTX-Alameda bankruptcy court questioned the $264 million claim made by Jump Trading's subsidiary Tai Mo Shan regarding a loan transaction from Alameda Research. FTX's lawyers argued that the claim is invalid because they assert that the loan never commenced.According to court documents, Jump Trading stated that it calculated the losses based on an options model, which used the market price of SRM on the bankruptcy filing date, the implied volatility of the token, the repayment option price, and other factors.FTX's lawyers requested the court to dismiss the claim, stating that primarily, Alameda Research never delivered the loan.

ChainCatcher news, a judge in Delaware heard arguments from lawyers regarding the massive compensation demands made by Tesla CEO Elon Musk, with these lawyers arguing that Musk's enormous pay is illegal and should be voided.A Tesla shareholder questioned Musk's 2018 compensation plan, with their lawyer requesting Judge Kathaleen Saint Jude McCormick to rule that legal fees be paid to them in the form of Tesla stock, which, at current trading prices, is valued at over $7 billion. The 2018 Musk compensation plan, which was overturned by the judge, could be worth over $55 billion.After a full day of expert witness testimonies and lawyer debates, McCormick did not indicate when she would rule on the fee request.

ChainCatcher news, according to Ming Pao reports, the unlicensed virtual asset platform JPEX in Hong Kong, reported last September, is suspected of violating regulations by promoting and operating in Hong Kong. Two of the victims in the case have hired lawyers to represent them and officially filed a lawsuit in the regional court yesterday against the JPEX group and a total of 7 related defendants, seeking to recover 240,000 Tether or 1.85 million Hong Kong dollars, marking the first civil claim against JPEX. Zhu Qiaohua, a consultant lawyer at Haocen Law Firm representing the plaintiffs, stated that if the claim is successful, it could serve as an example to help more victims recover their losses.Zhu Qiaohua mentioned that the criminal investigation is still ongoing, but there is a 6-year limit for filing civil lawsuits. If they wait for the criminal investigation to conclude before seeking compensation, there may not be enough time to initiate civil proceedings; any developments during the civil lawsuit could also impact the criminal prosecution. Tasman Tam, the barrister representing the two plaintiffs, explained that they will pursue several causes of action to try to recover losses for the plaintiffs, one of which is based on the fiduciary duty of the JPEX group (the defendants include JPEX's registered companies in Australia and Hong Kong) in the incident. All involved virtual currencies are held in trust by JPEX or related parties, with the actual owners of the virtual assets being the plaintiffs, and the defendants are required to return the relevant virtual assets.It is reported that as of April 18 this year, the police have received reports from 2,636 victims in the JPEX case, involving approximately 1.6 billion Hong Kong dollars, with 72 people arrested and assets worth about 228 million Hong Kong dollars frozen.

ChainCatcher news, an independent investigation shows that the law firm Sullivan & Cromwell LLP, which oversaw the FTX bankruptcy, was unaware of the serious financial conditions and potential fraud that led to the collapse of the exchange. The investigation by former U.S. prosecutor Robert Cleary pointed out that although the firm's lawyers made false statements while representing FTX, they did not realize these statements were incorrect. Sullivan & Cromwell expressed confidence in their work prior to the FTX bankruptcy and welcomed the examiner's findings that refuted various unfounded allegations after the investigation results were published. This investigation was initiated due to widespread suspicion and condemnation from FTX creditors and customers towards Sullivan & Cromwell. When initially selected to oversee the bankruptcy proceedings, the law firm faced strong opposition from concerned creditors and former clients who believed that the firm's collaboration with FTX before the bankruptcy compromised its impartiality and objectivity.

ChainCatcher news, according to CoinDesk, the international law firm Cahill Gordon & Reindel announced the addition of 3 lawyers from the cryptocurrency industry to expand its related business. Among them, Lewis Cohen, co-founder of the cryptocurrency-focused law firm DLx Law, will join the firm as a partner and co-lead the expanded business (renamed CahillNXT) alongside former Southern District of New York (SDNY) prosecutor Samson Enzer. Two other lawyers from DLx Law, Gregory Strong and Sarah Chen, will join Cohen as partners in Cahill's newly expanded business.

ChainCatcher news, reported by journalist @nikhileshde on the scene, the U.S. Department of Justice lawyers believe that Zhao Changpeng's courage to appear in court and face trial is commendable, although this is a basic fulfillment of the plea agreement.

ChainCatcher news, according to Cointelegraph, Terraform Labs' attorneys filed a motion opposing the U.S. Securities and Exchange Commission (SEC)'s request for $5.3 billion in disgorgement and civil penalties against Terraform Labs and its co-founder Do Kwon. In a document submitted to the U.S. District Court for the Southern District of New York on April 26, Terraform's legal team suggested that the court impose a maximum civil penalty of $1 million. Terraform argued that the court "should not grant any injunctive relief or disgorgement" because the funds must actually be obtained from the Luna Foundation Guard (LFG), which is a "non-party" to the civil case. Terraform also stated that a $1 million civil penalty is "far more appropriate" than the SEC's billions of dollars in penalties.On April 5, a New York jury found that Terraform and Do Kwon had allegedly deceived investors in the sale statements of TerraUSD (UST), Luna, and wLUNA. Subsequently, the SEC filed a motion seeking the disgorgement of $5.3 billion in illegal profits and civil penalties. Additionally, the SEC proposed to ban Do Kwon from serving as an executive or director of any securities issuer and to provide detailed information about his accounts and assets.

ChainCatcher news, according to Bloomberg, two lawyers from the U.S. Securities and Exchange Commission (SEC) have resigned after a federal judge harshly criticized the Wall Street regulator for "serious abuse" of power in a cryptocurrency case.According to sources, Michael Welsh and Joseph Watkins resigned this month after an SEC official told them they would be fired if they continued to stay. The two were the lead attorneys in a case against Digital Licensing Inc. (a cryptocurrency platform known as DEBT Box).U.S. District Court Judge Robert Shelby in Salt Lake City stated that the regulator's lawsuit against DEBT Box was harmed by false statements and misrepresentations, as well as a lack of evidence. Shelby took extreme measures in March to sanction the agency for its abuse of power, and the SEC's enforcement chief has already apologized for these mistakes.

ChainCatcher news, KuCoin stated on social media that it is currently operating well, user assets are safe, and it is aware of the related reports, and is investigating the details through lawyers.KuCoin stated that it respects the laws and regulations of various countries and strictly adheres to compliance standards.ChainCatcher previously reported that the U.S. Attorney's Office for the Southern District of New York stated that the cryptocurrency exchange KuCoin and its two founders have been accused of violating the Bank Secrecy Act and engaging in unlicensed money transmission.

ChainCatcher news, according to Bloomberg, the U.S. Department of Justice's bankruptcy division has appointed prosecutor Robert J. Cleary, known for the "Unabomber" case, to conduct a new external investigation into FTX and its bankruptcy law firm.According to court documents, Cleary has been tasked with reviewing potential conflicts of interest involving FTX's bankruptcy law firm Sullivan & Cromwell. He has also been asked to examine investigations previously conducted by FTX's new management team, creditors, and government regulators, as well as whether other FTX employees participated in fraudulent activities before the company's collapse in November 2022.It is reported that Cleary's appointment and investigation must be approved by Judge John Dorsey.