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Unicoin Files Suit Against Uniswap Labs to Cancel UNI Registration

A company behind the Unicoin brand has filed a lawsuit in the Southern District of New York against Uniswap Labs, seeking a court ruling that its UNICOIN trademark does not infringe or dilute Uniswap’s asserted marks. TransparentBusiness Inc., which does business as Unicoin, is also asking the court to cancel a US trademark registration for UNI. The dispute centers on trademark claims and alleged brand misuse that Uniswap’s representatives raised through a series of demand letters sent over several months. Unicoin’s complaint, filed Tuesday, requests declarations on non-infringement and non-dilution, along with determinations related to whether Unicoin’s domain names violate US anti-cybersquatting laws. Key takeaways TransparentBusiness Inc. (Unicoin) sued in New York federal court seeking declarations that UNICOIN does not infringe or dilute Uniswap’s claimed marks. The complaint asks the court to cancel a US trademark registration for “UNI,” which Uniswap alleges it owns or has r...
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Silvergate’s ex-CEO cites Biden pressure as factor in 2023 wind-down

Former Silvergate Bank CEO Alan Lane says the bank’s 2023 voluntary wind-down was driven less by internal weaknesses and more by political and regulatory pressure, arguing that Silvergate remained solvent after meeting withdrawal demands in late 2022. In an inaugural post on his Substack published Tuesday, Lane claimed Silvergate could have continued operating after satisfying withdrawals equal to 70% of its demand deposits during the fourth quarter of 2022, and he characterized the decision to liquidate as a response to “political pressure” rather than an inability to access liquidity. Key takeaways Lane argues Silvergate had sufficient liquid resources to withstand heavy withdrawals in Q4 2022 and that liquidation followed political pressure. Federal regulators’ accounts emphasize different causes, pointing to concentrated crypto deposits, funding and governance risks, and compliance shortcomings. Lane disputes claims that regulators proved Silvergate’s anti-money laundering (A...
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India’s Financial Intelligence Unit Issues Non-Compliance Notices To 15 Crypto Platforms

The Financial Intelligence Unit (FIU) has issued non-compliance notices to 15 crypto platforms, or what it calls Virtual Digital Asset Service Providers (VDA SPs), under the Prevention of Money Laundering Act (PMLA). The notified entities could face access blocks in the country, with the FIU directing them to take down their applications and URLs. India’s FIU Cracks Down On Crypto Entities According to the Financial Intelligence Unit, the platforms failed to comply with several provisions of the PMLA and were operating illegally in the country. The platforms included in the list are Weex, Blofin, Bitunix, DigiFinex, Toobit, Razorex, XT.com, Latoken, WOO X, Pionex, ChangeNow, SimpleSwap, FixedFloat, WhiteBIT, and Guardarian. India expanded its anti-money laundering and counter-financing of terrorism framework in 2023, bringing VDA service providers in India under the ambit of FIU registration and PMLA obligations. The PMLA mandates that companies registered as reporting entities with th...
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Metaplanet Faces Shareholder Pushback Over Executive Stock Pool Plans

Japanese Bitcoin treasury firm Metaplanet is facing renewed shareholder pressure after objections over its ongoing executive stock option pool, which is tied to how the company finances and expands its Bitcoin accumulation. Critics argue the mechanism has led to heavy dilution for existing shareholders as new shares are issued—while Metaplanet says it has taken steps to freeze part of the pool. The dispute centers on Metaplanet’s “10th Series” executive option pool, structured to represent 20% of fully diluted shares and to automatically expand when additional shares are issued to fund its Bitcoin purchases. The backlash has now broadened from social media commentary to demands for clearer governance and compensation decisions. Key takeaways Shareholders are disputing the design of Metaplanet’s 10th Series executive option pool, arguing it mechanically increases dilution as the company issues new shares for Bitcoin buys. Metaplanet says it froze the executive pool at 319.5 million ...
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BitMart Misses Roadmap Deadline, Names Financial Advisor

BitMart has appointed Alvarez & Marsal as a financial adviser as part of its restructuring process, according to an announcement shared on Wednesday—despite previously signaling that a restructuring and business resumption roadmap was nearing completion by a self-imposed deadline of Sept. 9. The exchange did not publish the roadmap along with the appointment. Alvarez & Marsal will work alongside BitMart’s legal advisers to assess the exchange’s assets, financial condition, stakeholder issues, and potential options for moving forward. The review will also consider proposals submitted by third parties, BitMart said on X. Key takeaways BitMart named Alvarez & Marsal as financial adviser, but did not release the promised restructuring and resumption roadmap alongside the appointment. The appointed team will evaluate assets, financial position, stakeholder concerns, and alternative paths forward, including third-party proposals. BitMart plans to launch a dedicated web port...
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US DOJ Sanctions Xinbi Scam Platform, Freezes $52M in Crypto

US authorities have moved to dismantle parts of Xinbi Guarantee’s ecosystem—seizing crypto assets linked to the alleged scam marketplace and coordinating criminal and sanctions action aimed at the communications and payment infrastructure behind large-scale fraud. On Wednesday, the US Department of Justice (DOJ) said its Scam Center Strike Force seized two wallets used by Xinbi to collect vendor payments totaling about $12 million, with additional court-authorized restraints sought for 47 more wallets believed to be tied to money laundering across Xinbi’s network. Separately, the US Treasury’s Office of Foreign Assets Control (OFAC) designated Xinbi as a significant transnational criminal organization and sanctioned technology providers SafeW Technology (Singapore) and Anwen Technology (Cambodia) over alleged support to the network. Key takeaways The DOJ action targeted both payment infrastructure (seized and restrained wallets) and the marketplace’s hosting channels, including Teleg...
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US Sanctions Xinbi Scam Site, Freezes $52M in Crypto Assets

US authorities have moved to disrupt Xinbi Guarantee, a crypto-enabled scam marketplace, by seizing funds tied to the platform and sanctioning the organization and its technology providers. The Department of Justice (DOJ) said more than $52 million in cryptocurrency associated with Xinbi and its vendor network was restrained as part of a coordinated operation against the illicit operation. In parallel, the US Treasury’s Office of Foreign Assets Control (OFAC) designated Xinbi as a significant transnational criminal organization and sanctioned SafeW Technology and Anwen Technology, alleging they supplied the infrastructure used to run the scheme. The actions target both the financial rails and the communications tools that help scam centers scale. Key takeaways The DOJ reported seizing two Xinbi-linked wallets used to collect vendor payments totaling about $12 million, plus seeking restraints on 47 additional wallets tied to money laundering. US court authorization also covered Tele...
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