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Court Reverses Order to Arrest Charlie Shrem’s Assets in Case Filed by Winklevoss

  • Yuri Molchan
    📰 News

    Federal judge of New York lifts his verdict to freeze Shrem’s $30 mln equal to the 5,000 BTC he had allegedly stolen from the ‘crypto twins’


Court Reverses Order to Arrest Charlie Shrem’s Assets in Case Filed by Winklevoss
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The Bitcoin investor and entrepreneur Charlie Shrem that has recently been sued by the Winklevoss twins seems to have won his first battle in this war thanks to his lawyers.

On Thursday, the federal judge based in New York made a direction to lift the arrest laid on Shrem’s assets in the amount of $30 mln. The initial order to freeze the assets was issued in early October by the local U.S. Marshall.


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Crypto exchanges were involved

The directions to freeze the money were sent to crypto platforms Coinbase, Xapo, Bittrex, Poloniex and some other exchanges where Charlie Shrem’s assets in Bitcoin or other currencies, crypto or fiat, had been kept.

However, the crypto exchanges stated in reply to the court that they do not have any assets belonging to Shrem. Except for Poloniex — this company admitted to keeping $0.41 of Shrem’s money and Bittrex also confessed it had been storing $4.44 in Bitcoin and Bitcoin Gold combined, all of it owned by Charlie Shrem.

Apparently, following this poor outcome, the federal judge backed off with its order to have Shrem’s assets frozen.

Charlie Shrem’s advocate believes that this is the first crucial achievement in winning the case and having his client vindicated.

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To be continued

However, the case is far from being closed. An additional filing says that it is going to move on to a trial of juries taking place in early April next year.

The plan of managing the case says that within a week all the participating parties are allowed to submit any additional documents, like pleadings or questions they might have.

However, expert witnesses have to file all legally permitted disclosures until February or March next year. It depends on whether the latter is meant to second or oppose the charge.

Earlier, U.Today reported that Charlie Shrem’s attorney stated that his client did not steal the 5,000 BTC from the Winklevoss.

Cover image via u.today
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Crypto Wonders: Binance Coin (BNB) Hits Its New ATH, Surpassing Its January 2018's Peak

  • Alex Morris
    📰 News

    Binance Coin is so far the second cryptocurrency (after EOS) that managed to rebound after January 2018's drawdown


Crypto Wonders: Binance Coin (BNB) Hits Its New ATH, Surpassing Its January 2018's Peak
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After surging by more than 14 percent over the last 24 hours, Binance Coin has managed to surpass its previous ATH that was recorded during the peak of the bull market in January 2018, according to the data provided by CoinMarketCap (CMC). The historic rally was triggered by numerous recent developments inside the exchange’s ecosystem.  

Binance Coin, CoinMarketCap
Binance Coin continues to register double-digit gains, image by CoinMarketCap

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BNB makes history

At the time of writing this article, the price of the BNB token is at $24.65, rising above its previous ATH of $24.46 that was recorded on Jan. 12. Hence, Binance Coin, the seventh largest cryptocurrency by market capitalization, becomes only the second asset to reach a new price peak after the crash of the speculation-driven bull market. EOS, which is sitting one spot above BNB on CMC, achieved a similar feat in May 2018.

‘Binance Coin is outpacing the overall crypto market. While Bitcoin is off 75% from its all-time-high, Binance Coin has recovered. There is fundamental growth and synergy taking place that is contributing to the rising price of Binance Coin,’ says BitBull Capital CEO Joe DiPasquale.

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Pumping other coins

On Apr. 18, Binance launched the mainnet of its custom Blockchain Binance Chain. The migration of BNB tokens from Ethereum to Binance Chain is scheduled to take place on Apr. 23. This is going to be the second largest token swap in history.

Binance, which is now completed with Ethereum, has already on-boarded some Blockchain projects, including Mithril (MITH) that experienced a 70 percent price pump after its launch on Binance Chain.

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