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Nike, the globally acknowledged athletic footwear and apparel company previously renowned in the non-fungible token market for its digital sneaker collectibles, has finally announced that it will dismiss the case against StockX, another renowned online marketplace and clothing reseller, primarily of sneakers. In this article, we shall discuss in depth this lawsuit and what people should expect moving forward. Nike And StockX NFT Case Now Settled In an August 29 submission before the United States District Court for the Southern District of New York, Nike and StockX told the court that they would dismiss the case with prejudice, which means it cannot be refiled. The giant companies said in a joint statement that they had resolved the case “amicably” on confidential terms. Under this settlement, each party will bear their own expenses, Attorney’s fees, and costs. Nike is a global sportswear and footwear giant, famous for its innovative athletic shoes, apparel, and equ...

Over 70% of Craig Wright’s 259 claims in his latest UK lawsuit are based on “misunderstandings, blatant misrepresentations, and legally incoherent theories,” according to analysts.  Specifically, X (formerly Twitter) account CSW Fact Check sifted through Wright’s claims and found that 184 of them don’t stand a chance of succeeding. Even for the 75 claims that do appear to have a chance, the fact-checkers stated that they are still only “remotely grounded in fact.” Wright is reportedly applying concepts that are irrelevant to Bitcoin’s decentralized nature and displaying “ a fundamental disconnect from legal reality .” Craig Wright files lawsuit against BTC Core and Square without barrister Read more: COPA confirms Craig Wright is desperately trying to appeal The account said, “At its core, Wright’s case is a misadventure in legal theory, an elaborate distraction veiling his continued bid for control over Bitcoin’s decentralized future.” Wright filed t...

James Howell has been trying to get his lost hard drive back for 10 years Howell mined 8,000 Bitcoin on his laptop after learning about Bitcoin in 2009 The council have denied Howell’s requests to dig due to “environmental concerns” A 39-year-old man is suing Newport City Council for $646 million (£495,314,800 million) in damages after losing his hard drive at a recycling center containing 8,000 Bitcoin. James Howell accidentally threw out his hard drive in 2013 during a household clearout. According to WalesOnline, Howell had two hard drives of the same size. One was blank, while the other contained his Bitcoin. He mistakenly put the one containing the Bitcoin into a black bin bag, which his then-girlfriend took to the tip. At the time of his loss, his Bitcoin was worth around $1.3 million (£1 million). However, within three months, their value had risen to around $11.7 million (£9 million). Howell has reached an agreeme...

The soccer mogul Cristiano Ronaldo is facing a class-action lawsuit from plaintiffs claiming to have suffered financial losses linked to his promotion of Binance. The lawsuit was filed on Nov. 27 in a Florida District Court and accuses Ronaldo of aiding in the sale of unregistered securities in collaboration with Binance. Binance entered a multi-year partnership with Ronaldo in mid-2022. As per that agreement, Ronaldo promoted a series of non-fungible tokens (NFT) on the platform. The plaintiffs now allege that Ronaldo’s promotion led users to not only invest in his NFTs, but also to engage with other Binance offerings, including investments in what they claim are unregistered securities , such as Binance’s BNB token and its crypto yield programs. “Binance’s partnership with celebrities like Ronaldo was clearly designed to use the positive reputation associated with specific celebrities to convince consumers that Binance was a safe place to buy and sell ...

Brian Armstrong’s U.S. crypto exchange emailed some users about a court summons received from the CFTC regarding rival platform Bybit. Coinbase, America’s largest crypto exchange, sent emails to select customers concerning a subpoena the company received from the Commodity Futures Trading Commission (CFTC) in the regulator’s investigation into Bybit, a Dubai-headquartered digit asset trading venue.  The notice posted by Coinbase customers on social media explained that the exchange may submit information on certain accounts and their transaction histories by U.S. laws.   No action is required from you, but Coinbase may respond to the Subpoena unless served before November 30, 2023 with a motion to quash or other objection to the subpoena that has been filed with the Court – including by sending information concerning your Coinbase account to the Commodity Futures Trading Commission. Coinbase email on CFTC-Bybit subpeona CFTC Subpoena to Coinbase In The Matter O...

A U.S. District Court has dismissed a class action lawsuit against Uniswap, one of the world’s top decentralized exchanges (DEXes), stating that the plaintiffs’ claims were “devoid of factual support”, highlighting ambiguities in current crypto regulations. On Aug. 29, a class action lawsuit against Uniswap was dismissed by Judge Katherine Polk Failla, who is also overseeing a case by the U.S. Securities and Exchange Commission against Coinbase. The judge found that some of the allegations against Uniswap lacked factual evidence, rendering them untenable in a court of law. The lawsuit, initiated last year, accused Uniswap, its founder Hayden Adams, and venture capital firms Andreessen Horowitz and Paradigm of contributing to “rampant fraud” on the exchange. Additionally, the suit contended that Uniswap should register with the Financial Industry Regulatory Authority (FINRA) and it was involved in the sale of unregistered securities. Judge over...

Judge Analisa Torres will likely reject the U.S. Securities and Exchange Commission’s (SEC) interlocutory appeal , according to attorney John Deaton. Speaking at the first annual onXDC Live blockchain conference held in Texas, Deaton — founder of Crypto-Law.us and managing partner of the Deaton Law Firm — claimed the SEC had not actually appealed against the ruling that favored Ripple’s XRP. According to Deaton, Torres, who ruled that XRP is not a security if sold on secondary markets, has only allowed the regulator to file a motion for an interlocutory appeal . He further added that there was a likelihood the judge would deny the SEC’s motion, forcing the regulator to file a complete appeal, which won’t happen until late 2024 at the earliest, after the main case has been dispensed with. I predict she denies it, and then when she denies it, they have to wait for a full appeal , which, after the case, would be sometime in late 2024, which would take another 1...

As Binance US countered the United States Securities and Exchange Commission’s (SEC) lawsuit, a federal court recently asked the exchange to provide accounting statements. However, citing complexities, they requested an extension, which was granted. Weeks later, Binance US is yet to submit accounting statements , prompting concerns about compliance. Accounting complexities Joe Carlasare, a partner at Amundsen Davis, LLC, and the Co-chair of the Cryptocurrency, Blockchain, and FinTech group, shared a tweet on Aug. 9 displaying a document indicating that BAM Management US Holdings Inc., which is behind Binance US, had a Consent Order to submit a verified written accounting to the Commission within 45 days of the issuance of the Consent Order by the Court. This would have set a deadline of Aug. 1, 2023. Binance couldn’t deliver a written accounting by the court’s deadline pic.twitter.com/Cn2PNaOCMg — Joe Carlasare (@JoeCarlasare) August 9, 2023 The shared document sho...

The US Securities and Exchange Commission (SEC) asked Coinbase to halt all crypto trading operations except for Bitcoin (BTC). Financial Times (FT) report cites the San Francisco-based crypto exchange Coinbase’s CEO Brian Armstrong. He claims that SEC’s request came prior to the regulator’s lawsuit against the exchange. On July 6, SEC sued Coinbase for allegedly operating in the US without having the necessary registrations.  Moreover, Armstrong believes that the agency’s demand to halt all digital asset trading activities — with Coinbase offering more than 200 tokens — would have brought “the end of the crypto industry in the US.” “They came back to us, and they said . . . we believe every asset other than Bitcoin is a security. And, we said, well how are you coming to that conclusion, because that’s not our interpretation of the law. And they said, we’re not going to explain it to you, you need to delist every asset other than Bitcoin.” Coinbase CEO Brian Armstrong to...