was just hit with a 150 mil lawsuit in California court. Charges include market manipulation, racketeering, unlicensed securities sale and more.
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conducted an "attack" on Binance's newly launched futures market on Sep 15, 2019. Unfortunately for FTX, Binance prices according to an index, and no positions were liquidated.
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Bitcoin Manipulation Abatement LLC, the plaintiff, is seeking 150 mil in exemplary and punitive damages.
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Lol, whomever put this complaint together threw in this picture to show what a "bart" formation is.
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Additionally the complaint alledges that ran an unlicensed money transmitting business with its OTC desk.
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It's 2019, but FTX sold 8 mil USD worth of tokens to US citizens. Didn't they get the message?
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Sounds like they're all accredited investors... as long as they don't violate Rule 144 reselling within the first year of placement, should be ok?
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All of those tokens are already unlocked and freely trading.
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Normally when you do the public-terms sale you KYC everyone as non-US and when you do the private placements you have separate legal language. I'm sure that nuance will come out in discovery.
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1) medium.com/@alamedaresear
2) Like the rest of the spurious allegations in the complaint, this one also is incorrect. Also, FTT, like FTX , is not offered to US persons or entities.
FTX IP blocks the US and requires non-US KYC to buy, trade, or use FTT.
I will follow the resulting consequences with great interest, keep up the good work.
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