SBF Family Drama & Courtroom Showdowns: SEC vs Crypto 🚨

SBF Family Drama & Courtroom Showdowns: SEC vs Crypto 🚨

What's up crypto fam

Welcome to  another news round-up with Coinigy

It looks like the Bankman-Fried camp just can’t get a break… Or maybe they’ve had way too many? 💰

This time we’re looking at a $100M scandal that has the family sweating.

But wait, it’s not all bad news! Roary Kitty has been dodging legal bullets way faster than a meme stock rally, while Binance just scored what looks like a winning goal against the SEC

We’ll see if extra time is avoidable now ♟️

Here are the highlights:

  • SBF family linked to $100M FTX scandal, legal trouble looms
  • Roaring Kitty Lawsuit Dropped After 3 Days as GameStop Allegation Turns Out to be a Fraud
  • SEC vs. Binance: Court rules BNB sales, cryptocurrencies not securities
  • Bitcoin traders eye Trump victory as potential market boost

Sam “SBF” Bankman-Fried, the founder of the collapsed crypto exchange FTX, is at the center of a $100 million financial scandal marked by the misuse of company assets to fund political donations. Emails recently brought to light by The Wall Street Journal (WSJ) disclosed that SBF’s family significantly managed over $100 million in political contributions.

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Roaring Kitty Lawsuit Dropped After 3 Days as GameStop Allegation Turns Out to be a Fraud

In the latest crypto news, a GameStop investor, Martin Radev, accused Roaring Kitty of committing securities fraud but has since voluntarily dropped the complaint “without prejudice.” This legal term means that Radev retains the right to file a similar lawsuit in the future.

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SEC vs. Binance: Court rules BNB sales, cryptocurrencies not securities

Cryptocurrencies and secondary sales of the BNB token do not constitute securities, a United States federal court ruled in another significant victory for the crypto industry. Cryptocurrencies and secondary sales of BNB do not constitute securities offerings, according to Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia.

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Bitcoin traders eye Trump victory as potential market boost

Former President Donald Trump’s potential return to the White House is expected to trigger a significant surge in Bitcoin’s value, the Financial Times reported July 5, citing various analysts. According to the FT, the concept of a “Trump trade” is increasingly gaining traction among crypto traders due to the former President’s “perceived pro-crypto stance and policies.”

Read More.

Other Highlights Worth Mentioning

Ripple and Coinbase aim to leverage judge's ruling in SEC's Binance case - The Block

Bitcoin suffers fifth largest realized loss since FTX collapse amid Mt. Gox panic - Cryptoslate

U.S. Judge Lets Most of SEC Case Against Binance Proceed, Dismisses Secondary Sales Charge - Coindesk

Shiba Inu Investors Turn Optimistic as 42% SHIB Supply Faces Losses - Beincrypto