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So, altogether, Ripps owes:
$6,983,432.62 for Yuga's fees
$1,375,362.92 disgorgement
$317,295.04 for Yuga's costs
$200,000 damages
$120,000 for Yuga fees awarded earlier
$??? for expert witness costs
$??? for special master report
= $8,996,090.58 and counting
In the Yuga Labs v. Ryder Ripps lawsuit, Ripps was ordered to pay attorneys fees on top of the ~$1.6M in disgorgement & damages. Yuga said Ripps owed $7.9M in fees. Ripps said ~$455K would be reasonable.
A special master was appointed, who's just said he'll need to pay $7M. Oof.
#YugaLabs #crypto #cryptocurrency
Just noticed my work was cited in SEC Commissioner Crenshaw's dissenting statement regarding the bitcoin ETF approval 😳
sec.gov/news/statement/crensha…
#bitcoin #SEC #crypto #cryptocurrency
![[16] See Molly White, Grayscale Bitcoin Trust: The Free Money Machine that Went into Reverse (Jan. 29, 2023), available at https://citationneeded.news/grayscale-bitcoin-trust-the-free/. (Highlighting that individual investor outcomes may be determined by the specific caprice of a small group of industry insiders).](https://inne.city/photo/preview/640/235 "[16] See Molly White, Grayscale Bitcoin Trust: The Free Money Machine that Went into Reverse (Jan. 29, 2023), available at https://citationneeded.news/grayscale-bitcoin-trust-the-free/. (Highlighting that individual investor outcomes may be determined by the specific caprice of a small group of industry insiders).")
SEC.gov | Statement Dissenting from Approval of Proposed Rule Changes to List and Trade Spot Bitcoin Exchange-Traded Products
Statement Dissenting from Approval of Proposed Rule Changes to List and Trade Spot Bitcoin Exchange-Traded Products Commissioner Caroline A. Crenshaw January 10, 2024sec.gov
Fake #HyperVerse CEO was assured by his agent that "many people do this in the business. This is perfectly normal"
theguardian.com/technology/202…
‘I do feel bad about this’: Englishman who posed as HyperVerse CEO says sorry to investors who lost millions
Exclusive: Stephen Harrison says he was paid to play role of chief executive of the crypto investment scheme, but denies having ‘pocketed’ any of the money lostSarah Martin (The Guardian)
Issue 48 – Bitcoin has "no chance" of going to the moon
Bitcoin ETF fakeouts, imaginary CEOs, and a bridge hack make for an eventful start to the new year.
citationneeded.news/issue-48/
#newsletter #CitationNeeded #crypto #cryptocurrency