The Week in Crypto – Crypto Banks, Video Tampering, and Lawsuits

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This week in the crypto world we’ve seen stories involving crypto banks being shut down, judges criticizing regulators, the FBI investigating Terraform Labs, and much more. But which stories rose to the top like the cream in a pint of crypto milk?

Rip, open, pour.

Crypto Leaks Accused of Video Tampering

We start this week with last year’s Crypto Leaks ‘exposé’ involving a crypto law firm, with videos purportedly showing underhand activities of one of its lawyers exhibiting “extensive signs of tampering and manipulation”. This opinion was delivered through written testimony by electronics evidence expert David Kalat, who said as part of the Dfinity class action lawsuit that “highly anomalous characteristics” present in the video, plus the fact that the original videos have never been released, suggest to him that manipulation of one sort or another is evident.

The story involves Kyle Roche of the now renamed law firm Roche Freedman, who has since left the firm, with Kalat saying that the videos that led to his departure can’t be accepted as an accurate portrayal of what went on.

Closed Banks in Crypto Back and Forth

First Silicon Valley Bank was closed. Then Signature Bank was closed. Then a board member accused the government of closing Signature Bank to send an ‘anti-crypto’ message. Then the New York Department of Financial Services said that it had nothing to do with crypto. Then the same board member doubled down and said it absolutely was. Then Reuters reported that anyone buying Silicon Valley Bank was not allowed to conduct any crypto business. Then the New York Department of Financial Services said this wasn’t true.

Mad.

FTX Shills Hit With $1 Billion Class Action Lawsuit

FTX shills were shilling themselves this week when a class action lawsuit was filed against a group of internet influencers by a consortium of investors who had lost money through the collapse of FTX last year. The investors accuse the content creators of promoting unregistered securities to their viewers and followers while promoting the exchange, and are seeking damages totaling over $1 billion.

The defendants in the case include charmers such as BitBoy Crypto creator Ben Armstrong, finance YouTube creator Graham Stephan, seven other individuals, and the talent management firm Creators Agency. Really hope they prevail.

Really.

Really hope that.