Terraform Labs' collapse caused regulators in South Korea and the USA to investigate. The legal team in the US attempted to use Ripple's recent success against the SEC to their advantage, but Judge Jed Rakoff ruled that tokens minted on the Terraform Blockchain qualify as securities under the Howey test. Judge Rakoff also disregarded legal precedent and denied Terraform Labs' attempt to dismiss the court case filed by the SEC against them. This decision may have consequences for Ripple Labs' court case, potentially prolonging their legal battle.
Welcome Back
Click “Sign in” to agree to Cointime’s Terms of Service and acknowledge that Cointime’s Privacy Policy applies to you.
Join CoinTime
Already have an account?
Click “page.Sign up” to agree to Cointime’s <a class="underline" href="#term-of-service">Terms of Service</a> and acknowledge that Cointime’s a class="underline" href="#privacy-policy">Privacy Policy</a> applies to you.
Sign in with email
Sign up with email
Your email
Check your inbox
Click the link we sent to to sign in.
Click the link we sent to to sign up.
Judge Rakoff Rules Terraform Tokens as Securities, Disregards Legal Precedent
-
Wechat scan to share
Recommended for you
-
Vivek Ramaswamy X's account was hacked, and the cooperation with USUAL was fake news
Vivek Ramaswamy, who co-leads the US government efficiency department with Musk, confirmed that his X account was hacked and false news about cooperation with USUAL was previously released. -
Binance Alpha announces first batch of projects: KOMA, Cheems, APX, ai16z, and AIXBT
according to official sources, Binance Alpha has announced its first batch of projects, which are: KOMA, Cheems, APX, ai16z, and AIXBT. -
ZachXBT: X platform account leakage may be related to the lack of 2FA security measures
blockchain detective ZachXBT wrote: "Recently, there have been many account leak incidents on X platform. I suspect that these accounts did not use secure keys or identity verification programs for 2FA." -
South Korea's Constitutional Court will hold its first hearing on the impeachment case of Yoon Seok-yeol on December 27
a spokesperson for the South Korean Constitutional Court stated that the court will hold its first hearing on the impeachment case of Yoon Seok-yeol on December 27th. (Jinshi) -
FASB's fair value accounting standard for Bitcoin officially takes effect today
On December 16th, according to The Bitcoin Historian, an editor at Bitcoin Magazine, the fair value accounting standards for Bitcoin by the Financial Accounting Standards Board (FASB) officially took effect. Previously, companies could only measure their held Bitcoin assets by historical cost and could not reflect their market value growth. The new standard allows companies to use fair value measurement methods to more accurately reflect the actual value of their Bitcoin assets, which will reduce accounting barriers for companies to include Bitcoin on their balance sheets. MicroStrategy founder Michael Saylor previously stated that FASB has officially passed fair value accounting rules for Bitcoin, which will apply to fiscal years beginning after December 15, 2024. This improvement will encourage companies to adopt Bitcoin as a reserve asset. -
Musk's lawyer accused the SEC of improper investigation of Musk and his affiliated companies and demanded that the source of the instructions be made public
On December 13th, Musk tweeted, "Gary Gensler, how could you do this to me?" along with a screenshot of an email from Musk's lawyer to Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC). The email, sent by Quinn Emanuel law firm on behalf of Musk, strongly criticized the SEC's improper investigation of Musk and his affiliated companies. SEC commissioners have issued a final ultimatum to Musk to accept a settlement within 48 hours, or face multiple charges, claiming that this action was taken based on instructions from superiors. At the same time, the letter mentioned that the SEC has reopened its investigation into Neuralink, a company owned by Musk, indicating that the SEC's actions have gone beyond seeking the truth and instead are targeted behavior based on improper motives. -
The market value of the meme coin related to the murder suspect of the US insurance giant CEO has risen to 77 million US dollars
DL News, the suspect in the murder of UnitedHealthcare CEO Brian Thompson has attracted the attention of cryptocurrency users. After the insurance executive was murdered on December 4 and a large-scale search operation was launched by the police, bettors on the Polymarket cryptocurrency prediction platform invested $500,000. At the same time, the price of Meme coin related to the details of the search operation skyrocketed. A Meme coin named after the criminal suspect Luigi Mangione's name soared to a market value of $77 million, then fell to about $17 million (currently rising to $20.7 million). DL News stated that this Meme coin surge highlights the dark side of Meme culture. -
Poland arrests former CEO of Russian CEX WEX and will extradite him to the US
On December 9th, according to Reuters and Polish media Rzeczpospolita, Polish authorities arrested Dmitry V, former CEO of Russian cryptocurrency exchange WEX, in the center of Warsaw. He is accused of fraud and money laundering during his time managing WEX, which collapsed in 2018. -
South Korea's ruling party leader: Yoon Seok-yeol will not interfere in South Korea's national affairs before stepping down
South Korean Prime Minister Han Deok-soo will meet with the leader of the ruling party, Han Dong-hoon, on the 8th local time to issue a joint statement on the South Korean political situation. Han Dong-hoon stated that most people believe that the president should resign. In addition, Han Dong-hoon also stated that he will not interfere with South Korean politics before Yoon Seok-yeol steps down. South Korean Prime Minister Han Deok-soo apologized to the people for the current situation and stated that he will cooperate with the ruling party, the National Power Party, to ensure that there is no blank period in the operation of the country's politics. He also asked the National Assembly to pass the budget proposal. -
The leader of South Korea's ruling party said that he had completed the meeting with Yoon Seok-yeol and would continue to ask him to stop performing his presidential duties
on the 6th local time, Han Dongxun, the leader of the ruling party, the National Power Party in South Korea, stated that during the meeting with South Korean President Yin Xiyue that day, he did not obtain any reason to overturn his previous views. Han Dongxun will continue to demand that Yin Xiyue stop performing presidential duties. (Jinshi)
Daily Must-Read
-
Uniswap Labs, UNI holders could make $468M a year from new L2: DeFi Report
-
Avalanche Foundation to buy back nearly 2M AVAX sold to Terra in 2022
-
Gold Fever Hits Costco: 77% of Stores Sell Out Amid Soaring Demand for Bullion
-
$500M Bitcoin Buried in Landfill: Man Sues City After Decade-Long Battle for Recovery
-
Former BAYC creative director Jeff Nicholas joins Meta’s Reality Labs
-
Why is Solana's Dogwifhat (WIF) memecoin crashing?
All Comments