Places New York

A New York jury has begun deliberations on whether Sam Bankman-Fried committed mass fraud or simply made grave mistakes as a novice CEO.

The prosecution told the jury that SBF knowingly made off with billions in customer deposits, while the defense chalked his wrongdoings up to "terrible mistakes."

"This is not about complicated issues of cryptocurrency," the government told the jury. "It's about lies and stealing and greed."

The complex web of interactions between Gemini, Genesis, and its parent firm, Digital Currency Group has spawned yet another in a series of high-profile lawsuits.

Genesis, Digital Currency Group, and Gemini are tangled in complex legal disputes as the NYAG looms over bankruptcy processes.

SBF's lawyers have said they intend to call the FTX founder to the stand on Oct. 26 to testify in his own defense.

Gemini said the lawsuit validates its claim that Genesis and its parent company, Digital Currency Group, conspired defraud creditors.

The state has also proposed other new regulations that it will accept public comment on until October 20, 2023.

Bitfinex secures significant legal triumph as US court dismisses class action lawsuit.

SBF's lawyers have argued that he cannot review the huge amount of case-related documents while being detained at MDC.

The civil lawsuit brought by NY Attorney General Leticia James, accuses Mashinsky of duping customers through misleading and false claims.

The probe has not been officially confirmed, nor is it clear whether it will lead to charges.

Crypto exchange CoinEx would refund over $1 milion in cryptocurrencies to New York investors over the next 90 days.

Investors will collectively receive $508,000 after being charged thousands in fees.

If the bill is passed, fiat-backed stablecoins like Tether's USDT could be used within the state to make bill bonds payment.

The new rule will apply to New York firms holding the state's BitLicense.

Superintendent Adrienne A. Harris says the bank was closed due to a bank run.

The New York State Department of Financial Services said that its closure of Signature Bank was unrelated to the bank's crypto ties.