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Patrick Madden took the stand as an expert witness during Day 16 of the Crypto Open Patent Alliance (COPA) v. Craig Wright lawsuit. Madden created the ‘Madden Report,’ which found that many of the documents produced by Wright were so different from the originals that they were likely forgeries. After the day concluded, Wright’s ex-attorneys rang an alarm about certain emails found by Wright’s wife and introduced as evidence last week. These emails might also have been forged. For context, COPA is suing Wright seeking a near-worldwide injunction against him claiming the copyright to Bitcoin’s whitepaper. Wright claims to be Satoshi Nakamoto, the creator of Bitcoin. COPA disagrees. [1/2] Craig's own barrister presented this remarkable letter to the court as evidence. Craig’s former lawyers @OntierLLP stated that an email provided via Craig’s wife “is not genuine” https://t.co/v6zA6N115Q pic.twitter.com/VptxlserEz — BitMEX Research (@BitMEXResearch) February 26,...

Former FTX CEO, Sam Bankman-Fried, is set to face trial in October, with his defense team preparing to spotlight the role of previous legal counsel in key decisions made during his tenure. Sam Bankman-Fried, the former CEO of the now-bankrupt crypto exchange FTX, is set to go on trial in October, and new defense strategies have emerged. Bankman-Fried lawyers are gearing up to potentially place a portion of the blame on the previous legal counsel affiliated with the failed exchange. According to recent reports, the defense team intends to present evidence that legal representatives from Fenwick & West LLP, in conjunction with in-house lawyers, played a role in “reviewing and approving” pivotal decisions. The core argument is that these lawyers provided Bankman-Fried with advice on critical subjects, including auto-delete protocols and loans involving both FTX and Alameda Research. As a result of such counsel , the former FTX boss is believed to have thought he was ...

BlockFi said selling its cryptocurrency lending platform might not generate value for creditors. Disgruntled creditors of the bankrupt cryptocurrency lending firm BlockFi have submitted a new court filing in response to the company’s latest restructuring plan. On May 12, BlockFi outlined its Chapter 11 plan of reorganization in a filing with the United States Bankruptcy Court in Trenton, New Jersey. The firm said that selling BlockFi might not generate enough value for creditors as it owes nearly $1.3 billion to its top 50 creditors . In response, BlockFi creditors submitted another court filing on May 15, arguing that BlockFi deliberately took measures to delay the trial. Represented by the law firm Brown Rudnick, BlockFi creditors wrote that BlockFi sold about $240 million worth of crypto before filing for bankruptcy in late November 2022. The creditors emphasized that the crypto lender sold the assets “at the nadir,” referring to a massive market slump following the collapse of F...

The comments from the hosts of lawyers comes as Judge Victor Marreo said that Dapper Labs’ NBA Top Shot Moments NFT may constitute a security. Blockchain Association’s chief legal officer says “it would be absurd ” for a United States court to rule that digital assets on private blockchains are securities , following a federal judge's decision to allow a lawsuit against Dapper Labs's NBA Top Shots NFTs to play out.  U.S. attorney Jake Chervinsky made the comment after federal judge Victor Marreo denied a motion to dismiss a 2021 lawsuit that accused Dapper Labs of selling nonfungible tokens (NFTs) as unregistered securities. Chervinsky was among a host of lawyers on Twitter to reiterate that the judge’s denial of the motion does not mean a ruling has been made on the lawsuit, only that it was “facially plausible.” “The judge didn't decide anything. He allowed the case to proceed past a motion to dismiss because the securities claims were at least ‘plausible,’ an extremel...

Crypto lender BlockFi has asked a U.S. Bankruptcy Court for the authority to return the crypto held in BlockFi Wallets to users. Bankrupt crypto lending platform BlockFi has filed a motion requesting authority from the United States Bankruptcy Court to allow its users to withdraw digital assets currently locked up in BlockFi Wallets.  In a motion filed on Dec .19 with the U.S. Bankruptcy Court in the District of New Jersey, the lender asked the court for authority to honor client withdrawals from wallet accounts as of the platform’s pause on Nov. 10. The court documents also request permission to update the user interface to properly reflect transactions as of the platform’s pause. In a widely shared email sent to affected users , BlockFi called the motion an “important step toward our goal of return ing assets to clients through our chapter 11 cases," adding “It is our belief that clients unambiguously own the digital assets in their BlockFi Wallet Accounts.” According to Bl...