Trump’s complaint also claims that the New York Times acted like a spokesperson for the Democratic Party, spreading “malicious defamation” against him. Additionally, he criticized the newspaper’s support for Kamala Harris in the 2024 elections as an “illegal election contribution.” 

Lawsuit Details and Implications 

This lawsuit marks Trump’s fourth major defamation case since 2024. Previous cases resulted in multi-million-dollar settlements. The current lawsuit seeks a total of $15 billion in damages. 

The case sends a strong message to both media organizations and investor communities. For $TRUMP crypto project investors, the outcome could directly influence the project’s reputation and market perception. 

Key Reasons Behind the Lawsuit: 

• False and damaging information 
• Harm to business relationships 
• Targeting personal reputation 

The New York Times and publishers have not yet issued an official statement, suggesting the legal process could be lengthy and complex. 

$TRUMP Crypto Project and Market Impact 

The $TRUMP crypto token, supported by Trump, is currently trading in the markets. The lawsuit’s outcome may significantly impact investor confidence and token prices. Therefore, investors should monitor both the lawsuit and related developments closely. 

Moreover, in the crypto market, project-specific news and legal updates can quickly affect prices. Hence, developments concerning the $TRUMP crypto project should be watched carefully in terms of both altcoin trends and rising coins. 

In conclusion, Trump’s lawsuit against the New York Times affects not only the media but also the crypto market. This process remains critical for investors and industry observers alike. 

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The post Why Trump Filed a Lawsuit Over the $TRUMP Crypto Project? appeared first on Coin Engineer.

A Legal Battle Unrelated to Crypto Operations

The 2022 FBI raid initially caused a stir, especially after media outlets reported allegations of hacking and cyberstalking. However, as more details came to light, it became clear that the matter was not related to Kraken or any misconduct within the crypto market, but instead involved internal conflicts within a non-profit organization called Verge Center for the Arts.

Powell, who founded Verge in 2008 to support the Sacramento arts scene, became entangled in a management dispute with board members. The conflict centered around access to communication tools like Google Workspace and Slack, not malicious cyber activity. Powell has consistently denied any wrongdoing.

Devices Returned, Evidence Supports Powell’s Claims

In recent court filings, Powell revealed that the Justice Department has closed the investigation and returned dozens of devices, including laptops and smartphones. According to Powell, the data on these devices backs his version of the story and further discredits the accusations made against him.

Describing the ordeal as “personally and professionally devastating,” Powell expressed relief that the case had come to an end. “It’s still shocking that the raid was based on unfounded claims from Verge. I knew I had done nothing wrong, and the evidence proves it,” he stated.

Civil Lawsuit Against Non-Profit Board Continues

Despite the closure of the criminal investigation, Powell is moving forward with a civil defamation lawsuit against members of the Verge board. He claims that two individuals failed to hand over crucial documents during the legal discovery phase. One of them, Phil Cunningham, also serves as legal counsel for Verge but has declined to comment on the matter.

Reputational Impact on Kraken and the Crypto Sector

Brandon Fox, Powell’s attorney, confirmed receipt of an official “declination letter” from the Department of Justice, formally stating that the case is closed. This document plays a vital role in protecting Powell’s reputation and ensuring that Kraken, a platform aiming to go public, remains compliant with financial regulations.

However, lingering concerns remain about how details of the federal investigation were leaked to journalists. The Justice Department has not provided clarity on how this information reached the press.

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Coinbase Data Breach and Stock Losses 

On May 15, company disclosed that some customer support representatives were bribed, granting access to internal systems. This incident led to the theft of personal information from approximately 97,000 users, including names, addresses, email addresses, bank details, and identification documents. The attackers demanded a $20 million ransom, which Coinbase rejected, instead offering a $20 million reward for the capture of the perpetrators. 

Following the breach announcement, Coinbase’s stock price fell 7.2% to $244. The next day, it rose 9% to $266 but closed at $263.10 on May 23 after a 3.23% drop. This volatility indicates significant investor losses. The lawsuit also names CEO Brian Armstrong and CFO Alesia Haas as defendants, with investors claiming crypto exchange misled them by not disclosing the breaches promptly. 

Regulatory Issues in the UK 

The lawsuit highlights that Coinbase was fined $4.5 million by the UK’s Financial Conduct Authority (FCA) in 2024 for violating a 2020 agreement by onboarding high-risk customers. Nessler alleges Coinbase failed to disclose this violation during its IPO, claiming it artificially inflated the stock price and misled investors. 

Additionally, the company faces other lawsuits, including one in Illinois over improper biometric data collection. The company has not yet issued an official statement on these cases, but these events continue to impact Coinbase’s credibility and market value. 

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The post Coinbase Faces Class Action Shock: 2025 Data Breach  appeared first on Coin Engineer.

In a Feb. 26 notice, Gemini co-founder and president Cameron Winklevoss announced that the SEC had concluded its inquiry and, based on the available information, would not pursue charges against the exchange.

However, the SEC clarified that this does not amount to an exoneration and that future action remains a possibility.

Winklevoss: “SEC Caused Massive Losses!”

Cameron Winklevoss said that while closing the investigation is a step forward, the damage inflicted by the SEC has already been done.

“The SEC cost us tens of millions of dollars in legal fees and hundreds of millions in lost productivity, creativity, and innovation. And we are not alone.”

In January 2023, the SEC had accused Gemini and Genesis Global Capital of offering unregistered securities through Gemini’s Earn program. However, with this latest decision, enforcement proceedings against Gemini have been shelved.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

SEC’s Changing Crypto Policy!

The SEC has recently backed away from multiple crypto-related enforcement actions, dropping cases against Coinbase and OpenSea on Feb. 21 and later closing investigations into Uniswap Labs and Robinhood Crypto.

Former SEC Chair Gary Gensler, known for his aggressive stance against crypto, resigned on Jan. 20, 2025. During his tenure since 2021, the SEC filed over 100 enforcement actions against crypto firms.

Donald Trump, who started his second presidential term on the same day, had previously pledged to fire Gensler and implement a crypto-friendly regulatory environment.

Winklevoss argued that thoughtful legislation is needed to prevent regulatory overreach in the future.

“There must be a cost to be paid for sham investigations and baseless enforcement actions.”

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In a Feb. 26 filing, both parties stated, “The Parties submit that it is in each of their interests to stay this matter while they consider a potential resolution.”

If the court grants the request, a joint status report will be submitted within 60 days.

SEC’s Changing Stance on Crypto!

This move aligns with the SEC’s recent trend of stepping back from aggressive crypto enforcement actions. Donald Trump’s administration has pledged to relax regulatory measures and position the U.S. as a global crypto hub.

The SEC had also sought to stay or dismiss its cases against major crypto firms like Binance and Coinbase. Reports suggest that lawsuits against Kraken and Ripple, scheduled for hearings in March and April, might also be paused.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

SEC’s Lawsuit Against Justin Sun!

In March 2023, the SEC sued Justin Sun and his companies Tron Foundation, BitTorrent Foundation, and Rainberry Inc., alleging that they conducted unregistered securities sales involving Tron (TRX) and BitTorrent (BTT) tokens and engaged in manipulative wash trading.

Sun sought to dismiss the lawsuit, arguing that the sales were predominantly foreign and outside the SEC’s jurisdiction. However, the agency countered that Sun’s frequent travels to the U.S. establish its authority over the matter.

Additionally, Sun’s $75 million investment in Trump’s crypto platform, World Liberty Financial, has raised eyebrows. He is currently the platform’s largest investor and advisor.

Neither SEC nor Tron representatives provided any comments on the legal proceedings.

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The post SEC and Justin Sun Ask Court to Stay Case for Settlement Talks! appeared first on Coin Engineer.

$95 Million Raised From 1,200 Investors

According to the SEC’s statement on Nov. 29, Touzi Capital raised approximately $95 million from over 1,200 U.S. investors, claiming the funds would be used to finance crypto mining operations. However, the SEC alleges that these claims were false.

Touzi Capital is accused of transferring investor funds across its subsidiaries and directing the money into ventures unrelated to crypto mining. The SEC claims the firm misled investors about the risks and profitability of the fund, portraying it as similar to “high-yield money market accounts.”

According to the SEC, the fund was risky and illiquid, and the company continued to accept new investors even after its investments began failing.

Legal battles between the crypto industry and the SEC may significantly diminish in the future, according to speculation. Consensys CEO Joe Lubin suggested that if Donald Trump is re-elected as president, many ongoing SEC cases might be dropped. Lubin stated, “Maybe not all the cases, but I believe our industry will save hundreds of millions of dollars moving forward.”

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A Nvidia spokesman told CNBC on Sept. 4, “We have inquired with the U.S. Department of Justice and have not been subpoenaed.” The corporation further underlined that it is ready to answer any regulatory inquiries in cooperation. The spokesman said, “Nvidia wins on merit, as reflected in our benchmark results and value to customers, who can choose whatever solution is best for them.”

According to sources from Bloomberg and Reuters, the DOJ had sent subpoenas to Nvidia and other businesses as part of an antitrust probe; the rejection follows The probe supposedly focuses on Nvidia’s hegemony in the chipmaking industry and if it penalizes consumers for not just adopting its artificial intelligence technologies. On Tuesday, the announcement erased $278 billion from Nvidia’s market value, the worst day loss ever.

Though the first market response is negative, Nvidia’s stock is up 120.5% this year thanks in great part to growing demand for its processors, especially in artificial intelligence uses. Benefiting from the AI surge, Nvidia reached an all-time high in June at $131.88.

Still, Nvidia is also under legal hot fire, including a possible class-action case before the U.S. Supreme Court. According to the complaint, CEO Jensen Huang minimized the importance of graphics processing unit (GPU) sales to cryptocurrency miners while Nvidia hid nearly $1 billion in sales to those miners.

Though for now the firm’s price has found some stability after the rejection of the subpoena allegations, the DOJ apparently probing Nvidia’s business methods might cause further scrutiny of the company.

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Attorney General Bonta accused Robinhood Crypto LLC of violating California’s commodities laws by preventing customers to withdraw their purchased crypto assets. Customers were therefore forced to sell their crypto assets back to Robinhood in order to get their money. The company also allegedly misled customers by claiming, in reality, that it possessed client assets when other trading platforms usually stored the assets.

Bonta also claimed that Robinhood deceived its trading activities by suggesting that it connected to many trading platforms to ensure competitive pricing for its customers, not always the case.

Robinhood promised many corrective actions but denied any culpability in line with the deal. The company now needs to let customers withdraw bitcoin to their own wallets and ensure transparency on its order processing, custody procedures, and trading practices.

“Whether you are a brick-and-mortar store or a bitcoin company, you must adhere to California’s consumer and investor protection laws, our investigation and settlement with Robinhood should send a strong message,” Bonta said.

Robinhood responded by pledging itself to make cryptocurrencies more freely accessible. “The settlement totally resolves the Attorney General’s concerns related to historical practices; we look forward to continue making crypto more accessible and affordable to everyone,” the company said.

Following the revelation, on Sept. 4 Robinhood’s (HOOD) shares closed down 1.34% at $19.11. Closing at $19.14, its after-hours trading increase was modest 0.16%. Driven by a revival in retail trading and the return of legendary meme stock trader Keith Gill earlier in the year, HOOD shares are up 54.5% this year despite the setback.

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Claiming it was part of a “Dogecoin Pyramid Scheme” the complaint, brought by a group of June 2022 Dogecoin investors, claimed Musk and Tesla built up the price of Dogecoin by over 36,000% over two years, just to let it fall. Claiming $258 billion in damages, the plaintiffs accused Musk of leveraging his wealth as the wealthiest man in the world to control the bitcoin.

Judge Hellerstein decided that Musk’s comments about Dogecoin—including jokes about becoming its CEO and intentions to place a “literal” Dogecoin on a SpaceX vehicle—were aspirational and amounted to ” puffery,” not factual assertions. Since they were not easily falsifiable, he said, “no reasonable investor could rely upon them”.

Earlier this year, Musk had asked that the case be dropped; his attorneys had written of the allegations as a “fanciful work of fiction.” The court’s decision to throw out the lawsuit marks the end of the legal struggle attracting a lot of interest.

After the announcement of the firing, the price of Dogecoin was mostly unchanged and gained just 0.1% in the last 24 hours. Based on CoinGecko statistics, Dogecoin was trading at $0.10 at publishing, down 20% over the previous month.

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Filed August 16 in the U.S. District Court for the Western District of Washington, Seattle, the lawsuit alleges that the hacked compromised crypto assets were transferred to Binance by the hackers to conceal their source, therefore making the currency untraceable. Given the inherent nature of blockchain transactions, wherein every transaction is permanently recorded absent the claimed laundering activities permitted by Binance, the plaintiffs argue that tracing the stolen money should have been simple.

The complaint claims that Binance participated actively in the money laundering operation—which the plaintiffs say violates the Racketeer Influenced and Corrupt Organizations (RICO) Act. The lawsuit claims that illegal actors using absent platforms like Binance face the risk of being found by authorities applying blockchain monitoring.

Senior Consensys attorney Bill Hughes accepted the potential impact the case would have on the bitcoin market but expressed uncertainty on whether it had validity to support these assertions. In an August 20 post on X, Hughes claimed the case is a “natural, predictable follow-on civil action” that may put Binance in a difficult situation, especially should the issue wind the courts.

Should the case continue on, he said, the efficacy of blockchain analytics and on-chain asset recovery may come under careful examination, thereby maybe producing significant industry precedents.

This lawsuit worsens Binance’s legal problems after CZ’s November 2023 guilty plea for violating U.S. money laundering laws. As part of a settlement, Binance agreed to pay fines totaling $4.3 billion; CZ resigned from his post as CEO and then served four months in prison. Approved additionally to proceed in court, the SEC sued Binance in June 2023 for using dishonest practices and market manipulation.

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