Keeping up with the news might be too much of a hassle, but fret not! Be[in]Crypto has rounded up the most critical stories in the crypto industry, from the incoming waves of lawsuits to the arrest of a Coinbase employee for insider trading, Zipmex filing for bankruptcy, the delay of a bipartisan stablecoin bill, and Tesla’s bitcoin impairment loss.
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An avalanche of lawsuits in crypto
Lawyers in the virtual currency industry are staring at an avalanche of lawsuits following the events of the last week. Yuga Labs, creators of the Bored Ape Yacht Club (BAYC) are facing a class action lawsuit from disgruntled BAYC investors over allegations of fraudulently promoting” the NFT collection and its native token.
Binance founder Changpeng Zhao has headed to court on grounds of a defamatory article published by a Bloomberg subsidiary in Hong Kong. Zhao’s lawyers stated in the filing that the publication made false claims that Binance’s CEO was running a Ponzi scheme and had ties with money laundering.
Troubled Terra is still not out of the woods yet, as a fresh wave of class-action lawsuits has been brought against the company. In a press release, law firm Bragar Eagel & Squire stated that Terra violated the Exchange Act in a scheme that “deceived retail investors” and manipulated them to buy Terra tokens.
The Federal Trade Commission (FTX) sued Meta over its plans to buy the…
