Gate News message, April 24 — Jane Street has filed a motion to dismiss the lawsuit brought by Terraform Labs' bankruptcy estate, which accuses the quant trading firm of precipitating the collapse of the UST/LUNA algorithmic stablecoin. The motion was filed at the Southern New York District

Gate News message, April 24 — Jane Street and several individual defendants have filed a motion with the U.S. District Court for the Southern District of New York seeking to dismiss the insider trading lawsuit brought by Terraform Labs' bankruptcy estate. The quant firm argues that Terraform is atte

Gate News message, April 23 — Sam Bankman-Fried, former FTX CEO, withdrew his motion for a new trial on Wednesday in a letter to U.S. District Judge Lewis Kaplan, stating he does not believe he will receive a "fair hearing" on the matter from the judge. In his filing with the U.S. District Court fo

The U.S. Court of Appeals for the District of Columbia Circuit rejected Anthropic’s motion to pause the Department of Defense from listing it as a security risk, saying that military interests take priority over Anthropic’s harms. The dispute stems from a breakdown in its contract negotiations with the Pentagon, with Anthropic insisting that its AI technology not be used in lethal weapons. The court acknowledged that Anthropic may suffer harm, but said the case should be expedited.

The U.S. District Court for the Southern District of New York rejected the defendants' motion to dismiss in the TradeAI/Stakx case, and the case will proceed. The case was brought by Burwick Law, alleging that multiple defendants operated a Ponzi scheme causing losses exceeding $20 million, with a total scheme value of approximately $440 million. The judge ordered the defendants to disclose their addresses, or they will face a default judgment.

The U.S. Ninth Circuit Court of Appeals rejected Kalshi's emergency motion, allowing Nevada to continue enforcing a temporary restraining order against its sports event contracts business. Kalshi is prohibited from operating for the next 14 days. This incident may trigger jurisdictional disputes between federal and state law and impact the development of prediction markets.

The Northern District of California Federal Court rejected a motion by user Roger Metz to quash an IRS summons, ruling that the proper notice to the Attorney General was not provided. The summons requires the CEX to produce its 2022 tax records. The court stated that the dismissal does not affect substantive rights, and Metz may resubmit the application at a later date.

The Seoul Central District Court in South Korea rejected a motion for a preliminary injunction filed by the Flow Foundation and Dapper Labs against three exchanges, supporting their termination of FLOW trading. The court determined that there was insufficient evidence and prioritized investor protection. FLOW remains tradable on Korbit, but has been delisted from the other three exchanges.

Chen Zhi's lawyer filed a motion with the U.S. Federal Court in New York to dismiss the government's seizure of the Bitcoin he controls, arguing that there is a lack of evidence supporting the fraud charges and questioning the timeline of the seizure. Last year, the U.S. Department of Justice announced the forfeiture of 127,271 Bitcoins, worth approximately $15 billion. Human rights organizations warn that after the scam camp was shut down, many trafficked workers face the risk of re-sale.

Vancouver city government employees recommend terminating the "Bitcoin Friendly City" motion due to regulations prohibiting Bitcoin from being used as a municipal reserve asset. The motion was proposed by Mayor Ken Sim and aimed to explore the possibility of accepting cryptocurrency for taxes and converting financial reserves into Bitcoin, but it is restricted by provincial laws.