#crypto

Digital Currency Group (DCG), the parent company of the insolvent crypto lender Genesis, has officially opposed the client compensation plan.DCG's critique centers on the belief that the proposed method for asset reimbursement excessively surpasses the initial debt value.

The scandalous case around the Canadian self-described Crypto King continues. His associate, 27 year-old Colin Murphy was sentenced to 5 months in jail for violating court order by deleting evidence on his phone.

John Reed Stark, a lawyer and former SEC enforcement chief, has labeled the effort by the leadership of the now-bankrupt crypto exchange FTX and its associated legal firms to relaunch the platform as blatant fraud. He predicts that by the end of 2024, each attorney involved in this case will afford to buy a luxury beach house, effectively financed by the funds of FTX users.

DZ Bank, the second-largest financial group in Germany, plans to unveil a retail cryptocurrency trading project by the end of 2024. This ambitious venture will see participation from dozens of corporate banks and will initially cater to private users who do not seek investment or trading consultations.

The UK Court began the trial of the Australian computer scientist Craig Wright to finally settle whether he’s the real Satoshi or not. This major debate in the crypto industry is already 8 years old.

The Securities and Exchange Commission (SEC) has issued a press release targeting Brian Sewell, founder of Rockwell Capital Management. Sewell reportedly encouraged hundreds of online students to invest in his fund, claiming it employed cutting-edge AI-based crypto trading strategies.

The bankrupt crypto company Celsius has announced the conclusion of its bankruptcy proceedings. They are set to begin distributing over $3 billion in both crypto and fiat currency to their creditors.