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Cointelegraph
Cointelegraph
DEBT Box urges judge to toss suit as SEC got case ‘badly wrong’
about 8 hours ago
CryptoFreedom
CryptoFreedom
followers

Can my crypto accounts be frozen? One of the biggest advantages that blockchain technology offers is that, under no circumstance, no one can ever “freeze” your digital assets if you store them properly. There’s no such thing as a person or entity that can press a big red “Freeze” button to block your account—let alone the existence of such a button. This is one of the many game-changing features of decentralized finance: Users have 100% control of their assets and can even do so anonymously, while their money remains secured on the blockchain. Banks and governments are practically incapable of influencing blockchains—even if they tried. However, you need to know where governments can apply pressure. If you’re using Binance’s hot wallets for long-term crypto storage, this would be considered a bad idea in the crypto community. #BinanceTournament #WhaleAlert $SOL

3 days ago
KRIPTOVEER
KRIPTOVEER
followers

JUST IN: $39,000 Bitcoin JUST IN: Michael Saylor's MicroStrategy Bitcoin investment is now at a $1,630,000,000 unrealized profit. JUST IN: 🇺🇸 President Biden receives a community note after claiming inflation was 0% last month. Note This: BlackRock & TradFi are big dominant players in the market and will do anything to kill Binance to make their own dominance -1st they, Criminal charges against Binance -2nd, cancelling its licence from many countries -Sueing it -Imposing 4B$ fine and forcing CZ to resign -Sueing people who were promoting Binance like Ronaldo US Judge threatens to sanction SEC lawyers for convincing a court to freeze a crypto firms assets under false & misleading claims. #BinanceTournament #BTC #etf #ETH #dyor

3 days ago
COINCU
COINCU
followers

Key Points: SEC attorneys face sanctions as a federal judge accuses them of using "false and misleading" information to freeze the assets of crypto project Debt Box. The judge stresses that the SEC regulatory actions caused "irreparable harm" to Debt Box, demanding a response within two weeks. In a recent development, a federal judge, Robert Shelby of the U.S. District Court in Utah, has issued a warning to Securities and Exchange Commission (SEC) attorneys, indicating potential sanctions for their alleged use of "false and misleading" information to convince the court to freeze assets of the crypto project Debt Box. The judge's order highlighted the SEC regulatory actions regarding Debt Box's attempts to transfer assets and funds overseas, resulting in the freezing of the project's bank accounts. Judge Shelby emphasized that these SEC regulatory actions had not only compromised the integrity of the case proceedings but also inflicted "irreparable harm" upon Debt Box. The court expressed concern over the SEC's handling of millions of dollars in assets belonging to Debt Box, accusing the agency of making "materially false and misleading representations" that led to the freezing of substantial funds. The judge demanded the SEC provide a response within two weeks, addressing the alleged misrepresentations and their impact on the case. Sanctions, which may include monetary fines, could be imposed on the SEC attorneys for presenting misleading information to the court. This development follows a series of legal setbacks for the SEC, notably the partial victory for Ripple in the XRP lawsuit summary judgment. In that case, Judge Analisa Torres ruled that the programmatic sale of tokens to retail customers did not qualify as securities, marking a significant legal defeat for the SEC regulatory actions.   DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

4 days ago
BitEagle_News
BitEagle_News
followers

BREAKING NEWS 🇺🇸 US Judge threatens to sanction SEC lawyers for convincing a court to freeze a crypto firms assets under false & misleading claims. The judge believes the SEC lawyers misled the court with false claims, leading to the freezing of a cryptocurrency company's assets. It suggests potential legal consequences for the SEC lawyers involved in the case. #etf #Sec

4 days ago
Bitcoinleef
Bitcoinleef
followers

The court has issued a warrant for an explanation from the SEC on the “false and misleading” material it used to get a temporary restraining order. U.S. Securities and Exchange Commission lawyers are facing questions from a federal court who believes they lied to get a temporary restraining order. The judge has asked the lawyers to clarify their actions. Judge Robert Shelby of Ohio has issued an order to show cause, demanding that the SEC provide evidence as to why its attorneys should not face sanctions. Shelby has reason to believe that the SEC provided misleading and false information in July 2023 when it decided to freeze the assets of Digital Licensing and DEBT Box, based on conflicting accounts. Following allegations that DEBT Box, doing business as Digital Licensing, offered an unregistered security and deceived investors out of “at least $49 million,” the legal team representing the SEC said that the defendants were trying to transfer assets and investor funds abroad. In its pursuit of a TRO, the SEC presented proof of foreign money transfers via bank records and account closures. Its stated goal in doing so was, among other things, to seize the firm’s assets. According to Shelby’s writing, the defendants were known to have closed 33 bank accounts in under 48 hours when these remarks were made. This, together with allegations that DEBT Box and its associates attempted to prevent the SEC from accessing their social media platforms, was sufficient to issue a TRO for 10 days. In September, two sets of defendants—including relief defendants—filed motions to dissolve the TRO. In their original applications, both groups argued that the SEC had deceived the court. In July 2023, no bank accounts were canceled. Shelby said that the SEC “tacitly acknowledged” that the defendants were not responsible for closing these accounts, but rather the banks. October 2023 saw the dissolution of the TRO. During the dissolution hearing, Welsh told the court that the SEC was unaware of the reasons for the closure of the bank accounts and lacked proof of any offshore transfers of funds after January 2023. According to Shelby, neither Welsh nor the SEC addressed the precise matter of his remarks on the closure of 33 bank accounts within two days. Shelby claimed that despite the fact that two members of the investigation team were not present on-screen during the ex parte TRO hearing, Welsh’s apparent misrepresentation “further troubled the court.” Experts in the field have seen a “troubling pattern” on the part of the SEC as of late, and Thursday’s event is just one more example.

4 days ago
KRIPTOVEER
KRIPTOVEER
followers

JUST IN: Walmart suspends all advertising on X. US Judge threatens to sanction SEC lawyers for convincing a court to freeze a crypto firms assets under false & misleading claims. JUST IN: 🇦🇷 Argentina declines invitation to join BRICS. JUST IN: Elon Musk officially announces Cybertruck deliveries begin "now." JUST IN: Elon Musk releases Cybertruck pricing. • Cyberbeast - $99,990 • All-Wheel Drive - $79,990 • Rear-Wheel Drive - $60,990 💥 #MicroStrategy has just PURCHASED an additional 16,130 #BTC for approximately $593.3 million, at an average price of $36,785 per #bitcoin 🚀 Now, the company #holds a total of 174,530 $BTC , acquired for around $5.28 billion, at an average price of $30,252 per bitcoin 💰 Argentina declines invitation to join BRICS. #etf #ETH #dyor #BinanceTournament

4 days ago
CoinDesk
CoinDesk
followers

A federal judge on Thursday warned Securities and Exchange Commission (SEC) attorneys that he may sanction them for allegedly convincing a court to freeze a crypto firm's assets under "false and misleading" pretenses, a court filing shows. According to an order issued by U.S. District Judge Robert Shelby of the U.S. District Court in Utah, the SEC's attorneys could be sanctioned for making "misleading" arguments about crypto project Debt Box's alleged efforts to transfer its assets and investors' funds overseas, leading a court to freeze the project's bank accounts. The SEC's "misrepresentations… undermined the integrity of [the case's] proceedings," in addition to causing Debt Box "irreparable harm," Judge Shelby said in an order. Sanctions are penalties a court imposes on individuals who sign statements they know to be false or otherwise violate court procedures, according to Law.com's legal dictionary. In civil law, sanctions are usually imposed in the form of monetary fines, according to Law.com. A federal judge first slapped Debt Box with a temporary restraining order, restricting its access to its assets, in August. However, he later dissolved the order after Debt Box demonstrated it had neither moved funds outside the U.S., nor closed its bank accounts two days before a hearing over the SEC's request to freeze its funds, Debt Box's lawyers said in a filing. The SEC's Utah office did not immediately respond to a request for comment. The SEC first sued Debt Box in July, alleging the company schemed to sell unregistered securities called “node licenses," beginning in 2021. Debt Box told investors the licenses would mine cryptocurrency that would increase in value, but they were actually minting the crypto themselves using computer code, the SEC alleged in its original complaint. In Thursday's order, Judge Shelby asked the SEC's attorneys to respond to his findings that their arguments alleging Debt Box had attempted to move its funds overseas lacked context and were not factual. The regulator has two weeks to respond to the inquiry, according to the order.

4 days ago
Todayq News
Todayq News
followers

The U.S. Securities and Exchange Commission (SEC) has been facing backlash over its treatment of the digital asset industry. In the latest move, a federal judge has strongly criticized the commission’s conduct of crypto firm Digital Licensing Inc., also known as DEBT Box. US SEC’s conduct questioned As per the report. the judge expressed concern over what he deemed “materially false and misleading representations” made by the SEC to freeze millions of dollars in assets belonging to DEBT Box. The US SEC filed a complaint against DEBT Box alleged that the project defrauded investors of around $50 million by selling unregistered securities known as “node licenses.” In order to freeze assets, the commission used an ex parte application. It is a legal process where the defendant is not initially informed or able to challenge the proceedings. However, U.S. District Judge Robert Shelby granted the SEC’s request based on the agency’s lawyer, Michael Welsh. It claims that DEBT Box was actively closing bank accounts to relocate operations to Abu Dhabi, beyond U.S. regulatory reach. The legal proceedings revealed that these claims were untrue. Judge Shelby found that no bank accounts were closed in the specified timeframe, and the company had transferred much of its operations months before. The report added that the judge criticized the SEC attorney’s misrepresentation. He stated it was “troubled” by the lack of correction from other parties during the proceedings. It is important to note that the judge noted that the SEC accused DEBT Box of blocking investigators from viewing its social media sites without providing evidence that the company was aware of any investigation. Show Cause order issued Show cause order issued by Judge Shelby demands the SEC to provide reasons why the court should not impose sanctions for its behavior. While such orders are unusual against government agencies, the judge expressed concern that the commission’s actions undermined the integrity of the proceedings. The SEC has faced increased scrutiny for handling crypto-related cases, with ongoing lawsuits against major players like Binance, Coinbase and Ripple. Critics argue that the agency, under Chairman Gary Gensler, has been aggressive in its approach to the crypto industry. The judge’s order comes at a critical time for the SEC and may further fuel industry claims of bias and overreach. The SEC has two weeks to respond to the show cause order. An SEC spokesperson stated, “We are in receipt of the order to show cause and will respond to the court as directed.” The post SEC faces backlash as Judge issues “Show cause order” in Crypto Case appeared first on Todayq News.

4 days ago
CryptoTalks
CryptoTalks
followers

🚨 DONT MISS IT 🚨 🚀🔥BREAKING MORNING NEWS 🔅😨 📈 🔥Check below🔥 📈Billionaire Mike Novogratz Says Bitcoin Setting Up for ‘Wonderful Story’ Amid Several Bullish Catalysts. Billionaire Mike Novogratz says that Bitcoin (BTC) is gearing up for a massive surge to the upside as bullish catalysts line up. In a new interview on Bloomberg Television, the chief executive of crypto asset manager Grayscale says that the top crypto asset by market cap is setting up for a “wonderful story.”💹 📈Ethereum validator and node growth leads to emissions decline: Report. Cambridge Centre for Alternative Finance analyzes post-Merge geographical distribution of Ethereum nodes in latest climate impact study.💹 📈A federal judge says SEC lawyers lied to freeze a crypto company’s assets. The judge has demanded the SEC explain why it presented “false and misleading” evidence to get a temporary restraining order.💹 📈Ethereum Gaming NFT Marketplace Aqua Shuts Down Citing Slow Industry Growth. Crypto gaming didn't scale as fast as it needed to for the Aqua NFT marketplace to stay afloat, its CEO said in a message.💹 📈U.S. tops the chart in law enforcement requests to Coinbase. Nearly 57% of the requests originated from the U.S. alone. Coinbase alerted its customers about a CFTC subpoena linked to Bybit.💹 Dont forget to follow #CryptoTalks for more BREAKING NEWS 💸🔥

4 days ago
BitEagle_News
BitEagle_News
followers

Examining the High-Stakes Battle Unfolding in the Regulatory Arena In a significant twist in the ongoing regulatory landscape surrounding cryptocurrencies, a US judge has issued a stern warning to lawyers representing the Securities and Exchange Commission (SEC). The judge has threatened sanctions, alleging that the SEC attorneys misled the court into freezing the assets of a crypto firm based on what are now claimed to be false and misleading assertions. Key Developments: 1. Judicial Warning: - The judge's threat to sanction SEC lawyers comes as a response to concerns raised over the freezing of assets belonging to a crypto company. The judge contends that the SEC legal team may have presented information that was not only inaccurate but also misleading, prompting the need for a potential legal reprimand. 2. Freezing of Crypto Firm's Assets: - The case revolves around the SEC's decision to freeze the assets of a crypto firm based on claims that are now being called into question. The freezing of assets is a significant regulatory action that can have far-reaching consequences for the targeted company, making the accuracy of the presented information crucial to the integrity of the legal process. 3. Allegations of False and Misleading Claims: - The crux of the matter lies in the assertion that the SEC lawyers may have relied on information that was not entirely accurate or may have presented it in a misleading manner. Such allegations, if proven, could have serious implications not only for the ongoing case but also for the SEC's credibility in its regulatory actions within the crypto space. 4. Implications for Regulatory Practices: - The judge's warning highlights the increasing scrutiny on regulatory practices in the crypto industry. As the sector continues to evolve, regulators face the challenge of staying ahead of technological advancements while ensuring fair and transparent legal proceedings. Any lapses in accuracy or presentation of information can have profound effects on the companies involved and the broader regulatory framework. The Broader Context: This legal development takes place against the backdrop of a dynamic and rapidly changing regulatory environment for cryptocurrencies. With increased attention from regulatory bodies, the crypto industry is navigating uncharted waters where legal actions can significantly impact the trajectory of individual firms and the sector as a whole. Conclusion: The judge's threat to sanction SEC lawyers adds a layer of complexity to an already intricate regulatory landscape. As the legal battle unfolds, it underscores the need for regulatory bodies to maintain the highest standards of accuracy and transparency in their actions, especially when dealing with innovative and evolving industries such as cryptocurrency. The outcome of this case could set important precedents for future regulatory practices, emphasizing the importance of fair and just proceedings in an industry where the stakes are high and the consequences are far-reaching. #SEC #SECLawyers #SECSanction

4 days ago
CryptoPotato
CryptoPotato
followers

AntPool – a prominent Bitcoin mining pool – has announced its decision to refund the staggering $3 million transaction fee that made headlines last week. The incident occurred when a user mistakenly submitted an 83 BTC gas fee, prompting AntPool’s risk control system to temporarily freeze the transaction during packaging. AntPool to Reimburse 83 BTC Gas Fee According to an update on November 30th, AntPool has set a deadline for the original owner to verify their identity before December 10, 2023, by contacting the mining pool. To facilitate the refund process, the mining company has requested the user to prepare a signing tool, such as Electrum or Bitcoin Core, using the private key of the address associated with the transaction. The user must sign the message “AntPool” and send the signed text to the provided support email address. The erroneous transaction, which set a new record with a $3.1 million fee, involved the transfer of 55.77 BTC with a pre-transaction balance of 139.42 BTC. The user overpaid by an astonishing 120,528 times, as reported by Bitcoin explorer Mempool. The update from AntPool read, “On November 23rd, some user submitted 83 BTC as a gas fee. The risk control system of ANTPOOL temporarily froze the fee when packaging the transaction. Please contact us before 00:00 (UTC+8) on December 10, 2023, and verify personal identity in the following way. After verification, ANTPOOL will refund the fee.” Fat Finger: $500K in For a $2,000 BTC Transaction This incident follows a similar occurrence in September, where a $500,000 fee was mistakenly paid, identified as a “fat finger” error. As reported earlier, an anonymous Bitcoin user transferred a whopping 19.89 BTC as transaction fees to execute the transfer of merely 0.074 BTC (which was then valued at less than $2,000). F2Pool, the Bitcoin mining pool responsible for creating the valid block, received the payment and later agreed to reimburse the fee to the crypto services provider Paxos. The post AntPool Plans to Reimburse Record-Breaking $3.1 Million Fee appeared first on CryptoPotato.

5 days ago
心存敬畏-行有所止
心存敬畏-行有所止
followers

Seize the moment and live in the moment! ! ! I saw some news today that was really shocking. Let’s take a look: Major manufacturers are laying off employees, foreign institutions are selling stocks, and the economic recession has arrived?? 1. Baidu’s self-driving department has laid off large-scale layoffs, with an unknown proportion, because no car factory is willing to mass-produce. 2. Tencent PCG will begin large-scale personnel optimization, with a ratio of 30%. The appointment system will be adopted for middle and senior managers, with one signing per year. 3. Some departments of ByteDance have begun to talk to fresh graduates. It is estimated that they will start optimizing with fresh graduates first. 4. Didi’s year-end bonus will be issued after the year. The higher the performance, the greater the bonus. C may not get a bonus, and 10% of unqualified senior executives will be eliminated directly. 5. Hello, there will be a complete freeze on new HCs next year (except for certain projects), and cadres who cannot deliver performance will be eliminated. In the future, we should increase the proportion of performance in employee income. 6. Ctrip. Shanghai headquarters will lay off 30% of its employees, with n+1 compensation and year-end bonuses issued at the end of February. 7. UCAR has begun to lay off employees. HR went directly to the work station to read out the dismissal notice, emphasizing that the contract should be terminated unilaterally, and employees can go to arbitration if they are dissatisfied. 8. Guazi expects to lay off 30% of its employees by the end of the year, and 50% of its employees will be laid off in some departments such as car rental and after-sales service. 9. Suning Beijing R&D Center laid off employees, with some departments laying off 70% of their employees. 10. Sina Reading business line will lay off 90% of its employees, pay n+1 compensation, settle accounts on site, and disband on the spot. 11. VIPKID will lay off 15%-25% of its employees, there will be no year-end bonus, and this year’s annual meeting will be cancelled. 12. Mafengwo laid off 40% of its employees and had no year-end bonus. 13. Vipshop has n+1 layoffs, and most of them don’t have year-end bonuses. 14. Qunar starts with fresh graduates, lays off employees in a fancy way, and does not provide compensation. 15. CreditEase has started layoffs in December 16. Shuidichou laid off employees, including some newly recruited employees, without compensation. 17. NIO’s payday has been adjusted and postponed for 8 days. Thousands of employees have been laid off. 18. There are reports of layoffs in the Kuaishou game department and 360. The proportion is unknown. It is said that a large number of employees will be laid off before 360. Historically, the last time the Fed paused raising interest rates and then started cutting interest rates was an economic depression. This time is no exception. This year's real economy is very cruel, and some people say it will be even more cruel next year. In my previous article, I told everyone not to die tonight, but to firm up your goals and formulate your own investment strategies, so that you can gain your own wealth in the bull market!! #BTC #ETH #ETF

5 days ago
ZyCrypto
ZyCrypto
followers

Stablecoin issuer Tether has moved to freeze a whopping $225 million believed to belong to an international human trafficking group in Southeast Asia to assist the U.S. Department of Justice. No To Human Trafficking: Freezing USDT Related To ‘Pig Butchering’ Scam Tether revealed on Monday that it has taken measures to block self-custodied digital wallets holding USDT that were linked to a human trafficking syndicate in Southeast Asia in collaboration with the United States Department of Justice (DOJ).  The bad actors were running an expansive “pig butchering” scam. It’s a type of scheme where scammers create an online relationship with unsuspecting individuals and then trick them into sending money for a bogus investment opportunity, much like a farmer fattening up his pigs before taking them to slaughter. Tether revealed that the freezing of $225 million USDT followed a “months-long investigative effort” into the movements of the funds between the firm and crypto exchange OKX using blockchain analysis firm Chainalysis tools. Data from Lookonchain indicates that the $225 million was frozen across 37 wallets. The landmark move marks the biggest-ever freeze of USDT. Tether clarified that the frozen wallets are not directly tied to its customers as they are on the secondary market. “Through proactive engagement with global law enforcement agencies and our commitment to transparency, Tether aims to set a new standard for safety within the crypto space,” Tether CEO Paolo Ardoino posited. “Our recent collaboration with the Department of Justice underscores our dedication to fostering a secure environment.” The company said it would “work quickly” with U.S. authorities to unfreeze any lawful accounts that may have been affected by the operation. Collaborative Efforts With Law Enforcement Tether mints USDT — the industry’s third-biggest crypto after Bitcoin and Ethereum. The company has in the past worked with global law enforcement agencies to track and freeze assets linked to criminal and terrorist activity. Case in point, Tether collaborated with Israel’s National Bureau for Counter Terror Financing (NBCTF) last month to freeze over $873,000 worth of USDT across 32 addresses tied to terrorism and warfare in Israel and Ukraine. Notably, OKX’s Chief Innovation Officer, Jason Lau, also highlighted the exchange’s commitment to collaborating with law enforcement and various industry actors to combat crypto-related crime. “Collaborating with industry stakeholders, including law enforcement agencies, is a key tenet of our approach to building trust and serving the public good as a leader in the crypto industry. At OKX, we will continue to contribute to these initiatives on a proactive basis,” he concluded.

10 days ago

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