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Kik Suffers Setbacks With ‘Void for Vagueness’ Defense in SEC Case

Kik is struggling to mount a strong defense in a case brought by the U.S. Securities and Exchange Commission (SEC) over its $100 million initial coin offering. As reported last month, Toronto-based Kik’s legal team attempted to persuade the district court of the Southern District of New York that the SEC’s case – alleging the 2017 token sale violated securities laws – was void based on the premise that the legal definition of an “investment contract” is …

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Trial Back on After Craig Wright Breaks Bitcoin Settlement Agreement

Australian-born technologist Craig Wright has attested that he cannot finance his court settlement negotiated with the Kleiman estate. According to a court document filed in the Southern District of Florida Oct. 30, Wright pulled out of the settlement agreement in which he would forfeit half his intellectual property and bitcoin mined prior to 2014. With the agreement broken, trial motions are now back on. The document was filed by Kleiman’s counsel to set a date …

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Trial Back on After Craig Wright Fails to Pay Kleiman Bitcoin Settlement

Australian-born technologist Craig Wright has attested that he cannot finance his court settlement negotiated with the Kleiman estate. According to a court document filed in the Southern District of Florida Oct. 30, Wright pulled out of the settlement agreement in which he would forfeit half his intellectual property and bitcoin mined prior to 2014. With the settlement broken, trial motions are now back on. The document was filed by Kleiman’s counsel to set a date …

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Craig Wright Aims to Challenge Court Decision That Cost Half His Bitcoins

Craig Wright says bad weather means he needs more time to challenge a court order that he must hand over half of his bitcoin holdings. The case was brought by Ira Kleiman on behalf of his deceased brother David’s estate in 2018. He sought to sue Wright – the entrepreneur who controversially claims he is the inventor of bitcoin – for $10 billion, alleging that Wright had tried to seize his brother’s bitcoin holdings. On Aug. 26, …

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