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The EOS Network Foundation has called on plaintiffs to drop the $22 million settlement with Block.one weeks after initiating a new class action. Amid the approaching deadline for opting out of the current $22 million settlement with Block.one (B1), EOS Network Foundation (ENF) has called on plaintiffs to drop the lawsuit. The ENF took to Twitter on Aug. 8 to encourage plaintiffs to reject the $22 million settlement Block.one, the firm that was the original seller of EOS (EOS) in a $4 billion initial coin offering (ICO) in 2018. The EOS foundation argued that the existing settlement “does not adequately compensate” community members for losses caused by Block.one’s “misrepresentations and bad acts.” The ENF emphasized that the settlement amount is a tiny fraction of the amount raised by Block.one as well as $1 billion that it falsely promised to invest in the EOS network and community. “$22 million is too small a price for Block.one to pay to avoid having to be held to account for...

Last week, a separate U.S regulator, the CFTC reportedly found that Celsius and Alex Mashinsky broke several regulations before the collapse in 2022. The United States’ Securities and Exchange Commission (SEC) is reportedly taking action against Celsius Network, one of the cryptocurrency lending firms that collapsed in 2022. The securities regulator filed a lawsuit against Celsius’ former CEO Alex Mashinsky on July 13, according to a report by Bloomberg. Details of the complaint weren’t immediately available, the report said. The same report suggested that Mashinsky was also arrested on Thursday morning, following a probe into the company’s collapse. The report cited anonymous sources familiar with the matter. The action comes shortly after the Commodity Futures Trading Commission (CFTC) reportedly found that Celsius and Mashinsky broke several U.S. regulations before the company’s implosion last year. On July 6, Bloomberg also reported that attorneys from the CFTC’s enforcement divi...

Whether XRP is ruled as a security or not in the Ripple case will certainly have an influence on the two latest crypto exchange lawsuits, crypto lawyers told Cointelegraph. The judges presiding over Coinbase and Binance’s lawsuits will likely watch the results of the SEC v Ripple case closely, crypto lawyers told Cointelegraph. Ripple has been in a legal battle with the SEC since December 2020. The regulator alleges it was offering unregistered securities via XRP (XRP) since 2013. On June 6 the SEC filed a lawsuit against Coinbase also alleging that it has been offering unregistered securities. A day before it filed a lawsuit against Binance containing some similar allegations. Lawyer James Murphy, known as “MetaLawMan” on Twitter, explained in a series of tweets on June 9 that a favorable outcome for Ripple could “undermine the entire basis for the SEC’s case” against both, Coinbase, and Binance. 1/ The stakes just keep getting higher for the ruling in SEC v. @Ripple. Here's why....

Lawyers say they are seeing an increasing number of divorce settlements featuring digital assets. Most crypto investors probably aren’t thinking about divorce or what will happen to their digital assets in the event of separation, but lawyers say it’s becoming a very common scenario as more people hold crypto assets.  Last year, market research firm GWI suggested that as much as 10.2% of global internet users aged 16 to 64 own crypto, with most ownership skewed toward nations experiencing high inflation or fluctuation in the value of their national currency. Independent data and statistics tracker World Population Review suggests the divorce rate worldwide varies between lows of 0.15 divorces per 1,000 residents in Sri Lanka to highs of 5.52 per 1,000 people in the Maldives. Divorce rates by country. Source: World Population Review Speaking to Cointelegraph, Claire Walczak, a senior associate from independent law firm Lander & Rogers, who works in the firm’s family and relationsh...