Best crypto memes of the day – May 22nd

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• Voyager creditors billed $5.1 million for March-May legal services

  TL;DR Breakdown McDermott Will & Emery, the law firm representing Voyager’s committee of unsecured creditors, has invoiced the group $5.1 million Voyager attorney fees mounting, adding to recently billed $1.1 million from Kirkland & Ellis’ law firm Voyager is working to recover funds for users Description McDermott Will & Emery, the law firm representing Voyager’s committee of unsecured creditors, has invoiced the group $5.1 million, in a filing, for services rendered between March and May. The group has now been charged a total of $16.4 million in compensation, more than the $11.2 million anticipated as part of its restructuring process. Of … Read more McDermott Will & Emery, the law firm representing Voyager’s committee of unsecured creditors, has invoiced the group $5.1 million, in a filing, for services rendered between March and May. The group has now been charged a total of $16.4 million in compensation, more than the $11.2 million anticipated as part of its restructuring process. Of this billed compensation, the creditors have already granted $8.9 million. Voyager attorney fees are mounting McDermott Will & Emery has filed…

  Article 2023年7月6日

• UBS prepares for investment bank overhaul

  TL;DR Breakdown UBS is planning a significant restructuring within its investment banking division after acquiring Credit Suisse. The overhaul includes changes in leadership roles and affects various sectors, including healthcare, consumer/retail, and technology. Some Credit Suisse and UBS bankers will take on new roles or exit, with tens of thousands of jobs potentially at risk. Description The global banking giant UBS is bracing for a significant restructuring within its investment banking division. Following the emergency acquisition of Credit Suisse in June, the transformation marks a critical juncture in the integration process. The restructuring underscores a determined, though possibly brutal, effort by UBS to merge operations with Credit Suisse, casting the future … Read more The global banking giant UBS is bracing for a significant restructuring within its investment banking division. Following the emergency acquisition of Credit Suisse in June, the transformation marks a critical juncture in the integration process. The restructuring underscores a determined, though possibly brutal, effort by UBS to merge operations with Credit Suisse, casting the future of tens of thousands of jobs into uncertainty. Shake-up at the…

  Article 2023年8月6日

• Pro-XRP lawyer tips Ripple’s triumph over SEC at less than 3%

  TL;DR Breakdown Pro-Ripple attorney John Deaton predicts that the SEC’s chances of succeeding in its legal battle against Ripple are less than 3%.   The Hinman docs are being closely watched by the Ripple community as they could serve as XRP’s last hope. The court ruling on whether XRP is a security, or a commodity is likely to be rendered by September 30 of this year. According to pro-Ripple attorney John Deaton, the Securities and Exchange Commission’s (SEC) chances of succeeding in its legal battle against Ripple are less than 3%. According to the attorney, Ripple has a 25% chance of outright victory over the SEC and a 50% chance of winning by “splitting the baby.” The verdict rendered by Judge Torres may have a significant effect on the classification of XRP as well as the entire crypto market. The deadline for a decision is September 30. Judge Torres to decide XRP’s classification: Security or Commodity? The SEC has been litigating Ripple because of the alleged sale of unregistered securities, XRP, since December 2020. The attorney estimates that there is a…

  Article 2023年6月10日

• Group behind the Tornado Cash lawsuit loses to the US Treasury

  TL;DR Breakdown A lawsuit against the US Treasury by 6 individuals backed by Coinbase goes south in a mega loss. Judge Robert Pitman states that Tornado Cash is a legal entity that has a property interest in its smart contracts.  The judge rejected the Treasury Department’s claim that Tornado Cash is not an entity, saying that the mixer’s DAO was designated. Last year, OFAC sanctioned Tornado Cash for assisting North Korea’s Lazarus Group launder crypto cash from decentralized exchanges and games like Axie Infinity. Coinbase Chief Legal Officer Paul Grewal says that the company will support an appeal. Description A federal judge in Texas has sided with the United States Department of the Treasury by granting a motion for summary judgment in a lawsuit brought by six individuals sponsored by the cryptocurrency exchange Coinbase against Tornado Cash. The group of crypto investors and developers backed by Coinbase argued the U.S. Treasury Department abused its … Read more A federal judge in Texas has sided with the United States Department of the Treasury by granting a motion for summary judgment in…

  Article 2023年8月18日

• San Francisco Federal Reserve Seeks Crypto Architect for CBDC Project Amid Controversy

  TL;DR Breakdown The Federal Reserve Bank of San Francisco is actively hiring a crypto architect to research and develop a Central Bank Digital Currency (CBDC). The possibility of a CBDC has ignited a fierce debate, with opponents citing concerns about privacy and government control. Description The Federal Reserve Bank of San Francisco has made headlines with its recent job posting for a crypto architect to work on a Central Bank Digital Currency (CBDC) project. This move comes amidst the ongoing debate surrounding the potential introduction of a digital version of the U.S. dollar. As the Fed seeks to explore the … Read more The Federal Reserve Bank of San Francisco has made headlines with its recent job posting for a crypto architect to work on a Central Bank Digital Currency (CBDC) project. This move comes amidst the ongoing debate surrounding the potential introduction of a digital version of the U.S. dollar. As the Fed seeks to explore the benefits and costs of this emerging technology, it has formed a team of crypto developers to research and develop CBDC systems. However,…

  Article 2023年7月24日