NFT News by Thebittimes.Com

The co -founder s of Opyn stepped down as their defi options protocol faced charges from the Commodity Futures Trading Commission (CFTC) in September. CEO Zubin Koticha revealed today in an X post that he and co -founder Alexis Gauba have chosen to exit crypto, attributing their decision to the recent regulatory actions faced by Opyn. Hey Crypto Twitter, It's been a while This one's a tough one… After the regulatory action against Opyn, @alexisgauba and I have made the decision that we are leaving crypto. This is honestly really emotional for me and Alexis. — zubin koticha (@snarkyzk) November 14, 2023 Opyn is a defi investment strategy platform with $20 million in total volume locked (TVL) on its protocol. In September, the CFTC brought charges against Opyn and two other defi entities, citing several violations. These included registration failures, the absence of a customer identification program, and the unlawful offering of leveraged and margined retail...

The issue of returning customers’ funds to them has been ongoing for several months. During BlockFi ’s first court appearance in Trenton, New Jersey after the collapse of FTX, the exchange requested consent to continue its operations while it tries to figure out a way to pay back all affected customers. BlockFi was optimistic about finding a potential buyer which would influence the refund process. advertisement At the same time, BlockFi made attempts to recover funds owed by other cryptocurrency exchanges. One of such significant funds was the $400 million given to FTX sister trading company Alameda Research .  Sad Reality for BlockFi Interest Account Holders BlockFi’s interest-bearing account holders, otherwise known as BIA we’re given sad news. While the court has declared that the funds in the custodial wallets are meant for customers, Judge Michael Kaplan ruled against repaying another $375 million which customers tried to wit...

3AC founders Zhu Su and Kyle Davies have been ordered to provide all documents in their possession or control, regardless of whether the information is held by them directly, or is in control of a third-party. Three Arrows Capital (3AC) founders Zhu Su and Kyle Davies were subpoena ed on Twitter on Jan. 5, after the liquidators granted permission from Singapore authorities following a United States Bankruptcy court order, according to information given to Cointelegraph by advisory firm Teneo. As reported by Cointelegraph, liquidators' lawyers have repeatedly failed to engage with the founders in recent months. “A communication protocol was agreed between the liquidators and founders but has not yielded satisfactory cooperation,” according to a hearing presentation on Dec 2. @KyleLDavies jpg copies of the subpoena are attached to this tweet by way of service. An unredacted copy of the subpoena was served via email and can be provided upon request. pic.twitter.com/XAYzQ4Oveo — 3AC...