Shaquille O’Neal to Pay $11M NFT Lawsuit Settlement
In order to settle a lawsuit brought by holders, NBA legend Shaquille O’Neal has agreed to pay $11 million to the Astrals NFT collection. Hall-of-Famer O’Neal reached the settlement after allegations that he promoted unregistered securities tied to the Astrals non-fungible token project on Solana. According to court records, O’Neal, the collection’s main celebrity, leveraged […]
OpenSea Users Drop Lawsuit After Marketplace Calls for Arbitration
The lawsuit against OpenSea cited SEC actions against certain NFT projects, alleging OpenSea failed to moderate unregistered securities. The non-fungible token marketplace, which was accused of selling unregistered securities by two OpenSea users, has withdrawn its proposed class-action lawsuit after a judge permitted the firm to request arbitration. OpenSea Users Drop Lawsuit Anthony Shnayderman and […]
FTX settles $228 million lawsuit with Bybit
FTX’s bankruptcy estate settled with Bybit on October 24 to resolve a 2023 lawsuit seeking funds to repay clients and creditors. The FTX bankruptcy estate reached an agreement with the Bybit exchange in a legal document on October 24 to settle a lawsuit it initially launched in 2023. The FTX estate brought the case to […]
Ethereum’s Early Advisor Sues Covington & Burling for $100M
Steven Nerayoff, an early advisor of the Ethereum network, alleges that the law firm Covington & Burling mismanaged his defense of a 2019 extortion case by the United States in a lawsuit for $100 million. Nerayoff claimed in a lawsuit filed on September 6 in the New York County Supreme Court that Covington lawyer Alan […]
Coinbase to Face Shareholder Lawsuit Over SEC Risks
A New Jersey judge accepted a case against Coinbase for depicting a potential regulatory takedown. U.S. District Judge Brian Martinotti decided late on September 5, ruling that Coinbase stockholders could file a lawsuit against the cryptocurrency exchange for misrepresenting its position about the Securities and Exchange Commission’s filing of a civil complaint. The class action […]