RoboFi News Review: Top Crypto News of the Week
This week’s news roundup is presented below.
FTX law firm Fenwick faces second lawsuit by crypto customers
On Monday, a cluster of FTX clients filed a lawsuit against law firm Fenwick & West, claiming that the firm facilitated fraudulent activities by offering legal guidance to the cryptocurrency exchange, which is now bankrupt, and was established by Sam Bankman-Fried. The legal complaint asserts that Fenwick’s services to FTX surpassed the typical scope of a law firm’s responsibilities. These services allegedly encompassed orchestrating transactions to evade regulatory oversight and establishing entities that were allegedly exploited by Bankman-Fried and other FTX leaders to engage in fraudulent activities. Read More.
German regulator probes Worldcoin crypto currency — Handelsblatt
Germany’s financial regulatory authority, Bafin, is currently conducting an investigation into the digital currency known as Worldcoin, as reported by the German business publication Handelsblatt on Tuesday. According to a spokesperson, Bafin is actively looking into cases where companies enter the German market without proper authorization. This includes instances where companies operate websites or apps in the German language without the required permissions. Read More.
US SEC seeks to appeal Ripple Labs crypto decision
The U.S. Securities and Exchange Commission (SEC) intends to challenge a recent court ruling related to Ripple Labs, a development that posed a setback to the agency’s regulatory endeavors within the cryptocurrency markets. In a communication issued on Wednesday, the SEC formally requested U.S. District Judge Analisa Torres in Manhattan to grant permission for a federal appeals court to reassess her decision from July 13. This previous ruling had determined that the trading of Ripple’s XRP digital token on public exchanges adhered to the provisions outlined in federal securities laws. Read More.
Digital Currency Group seeks to end fraud case by Winklevoss twins’ Gemini
On Thursday, Digital Currency Group (DCG) presented a plea to a U.S. judge, requesting the dismissal of a lawsuit that alleges DCG deceived customers of Gemini Trust. The lawsuit claims that DCG, headed by the billionaire Winklevoss twins Tyler and Cameron, persuaded customers into providing loans to its now-insolvent Genesis Global Capital division. Filed in a federal court located in Manhattan, the legal representatives of DCG and its founder, Barry Silbert, asserted that Gemini’s lawsuit is essentially a component of a broader public relations strategy aimed at diverting responsibility for the financial losses incurred by numerous clients of Gemini Earn. Read More
Bittrex to pay $24 million to settle with US securities regulator
Bittrex has reached a settlement agreement to pay $24 million in order to resolve allegations made by the U.S. Securities and Exchange Commission (SEC) that the cryptocurrency exchange did not properly register with the regulatory body. This information was disclosed in a legal document filed in a federal court in Seattle on Thursday. The SEC had filed a lawsuit against Bittrex Inc and its former CEO, William Shihara, in April. The lawsuit claimed that they were engaged in operating an unregistered national securities exchange, acting as a broker, and functioning as a clearing agency, all without the necessary registrations as required by the regulatory framework. Read More
About RoboFi
RoboFi (https://robofi.io/home/) is a Defi platform that envisions a marketplace for revolutionary Dao crypto trading bots. Through its IBO (Initial Bot Offering) system, community members can maximize their earnings in an easy, simple, and secure way. We create a safe and transparent environment based on blockchain technologies that help developers bring crypto trading bot platforms to the market. In addition, individuals will have easy access to these bot applications, thereby generating more earning opportunities. RoboFi ecosystem is fueled by the VICS token.
About VICS
VICS token has a distinctive and enticing concept. VICS is the BEP-20 token, built on the Binance smart chain. It is a core utility token in the RoboFi ecosystem, the reliable crypto trading bot marketplace. One important utility is to own the governance token of DABots and participate in an IBO (Initial Bot Offering) to receive additional incentives. VICS is available on major exchanges for trading.
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