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| April 21, 2019

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NFL paid under $10M to settle Colin Kaepernick grievance

March 22, 2019 |

Colin Kaepernick and Eric Reid, the NFL stars who alleged the league’s teams colluded to keep them off the field after they led protests during the national anthem, will receive less than $ 10 million to settle grievances with the league, according to people briefed on the deal.
FOX News

Tel Aviv Court Gives Moshe Hogeg 30 Days to Settle $4M Lawsuit

March 15, 2019 |

Moshe Hogeg, the co-founder and chairman of venture capital investment fund Singulariteam, and the alleged head of Stox Technologies, has been given 30 days to settle with a Chinese investor. The disgruntled investor has brought a 17 million Israeli new shekels (approximately $ 4.23 million) lawsuit against Hogeg for allegedly misappropriating several million dollars worth of funds raised through the Floyd Mayweather-promoted Stox initial coin offering (ICO).

Also Read: In the Daily: Exchange to List STOs, Crypto Tax Tool for Accountants, Coinbase Updates

Sirin Labs CEO Given 30 Days to Settle Lawsuit Alleging Misappropriation of Funds Raised via Stox ICO

Tel Aviv District Court judge Michal Amit-Anisman has given Moshe Hogeg 30 days to reach a compromise with Huwan Hugh, a Chinese investor who filed a multi-million dollar lawsuit against Hogeg in January of this year.

The lawsuit was also brought against the former Singulariteam chief financial officer (CFO) and current Saga Foundation CFO Yaron Shalem and the Stox Technologies company. The complaint alleges that Hogeg intentionally misrepresented how the funds raised through the Stox ICO would be used and distributed.

Tel Aviv Court Gives Moshe Hogeg 30 Days to Settle $  4M Lawsuit

Moshe Hogeg is also the chief executive officer of cryptocurrency smartphone startup Sirin Labs and owner of the Beitar Jerusalem soccer club.

Judge Recommends Involvement of Third-Party Mediator

According to local media outlet Globes, judge Amit-Anisman brought the parties to the temporary agreement after three hours of discussion, specifying that “requests will not be made at this time,” rather “the parties will come directly or by a third party who is a mediator.” The judge recommended Meira Harel as a possible mediator, describing Harel as “an expert in the field of cryptographic currencies.”

Globes also reported that “it was further agreed that after a period of 30 days or a longer period, insofar as the parties request an agreement to extend the 30 days granted to them, each party will be entitled to petition the court with a request to make a decision on the pending applications.”

Tel Aviv Court Gives Moshe Hogeg 30 Days to Settle $  4M Lawsuit

Emphasizing the challenges of adjudicating cases involving cryptocurrency amid the current global climate of opaque regulatory apparatus pertaining to crypto assets, Judge Amit-Anisman noted that the case “raises serious questions that have not yet been answered, neither in Israel … nor by regulators in the world.”

Do you think that Moshe and Hugh will be able to reach a settlement in 30 days? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


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The post Tel Aviv Court Gives Moshe Hogeg 30 Days to Settle $ 4M Lawsuit appeared first on Bitcoin News.

Bitcoin News

Uber will pay $20 million to settle lawsuits over question of whether drivers are employees

March 13, 2019 |

When tech workers began rallying last year against their employers’ mandatory arbitration clauses, some of the industry’s biggest companies changed their policies. Google dropped mandatory arbitration entirely. Uber Technologies Inc., however, opted to abolish forced arbitration in sexual misconduct…


L.A. Times – Business

California payday lender refunds $800,000 to settle predatory lending allegations

January 23, 2019 |

A California payday lender is refunding about $ 800,000 to consumers to settle allegations that it steered borrowers into high-interest loans and engaged in other illegal practices, state officials said Tuesday.

California Check Cashing Stores also agreed to pay $ 105,000 in penalties and other costs…


L.A. Times – Business

American Companies Can Now Settle Payroll Taxes In Cryptocurrency via Bitwage

January 18, 2019 |

American Companies Can Now Pay Payroll Taxes In Cryptocurrency via Bitwage

International cryptocurrency payroll service provider Bitwage has announced that it has partnered with Texas-based Simply Efficient HR. The move will allow companies to pay W2 employee and payroll taxes in all 50 U.S. states, plus Puerto Rico, using BTC and ETH.

Also Read: Bitpay Reports Processing Over $ 1 Billion Transactions in 2018

Bitwage and Simply Efficient Join Forces

With Bitwage’s solution now out of beta, American employees are able to choose any percentage of their wage to be in USD or cryptocurrency. To participate, a company needs to sign up to Bitwage, reach out to support for Payroll & HR services to receive personalized account management from the Simply Efficient HR team, and then add the account on Bitwage. Simply Efficient HR invoices companies through Bitwage for USD needed to fund payroll taxes and employee payrolls and the company accepts invoice and fund payrolls in BTC or ETH.

CEO of Bitwage Jonathan Chester commented: “As the leader in cryptocurrency payroll solutions, we are excited to continue to push the adoption of real use-cases within the industry. Together with Simplexity, we hope to close the financial loop within the cryptocurrency industry and continue to make bitcoin and other cryptocurrencies a part of everyday life.”

American Companies Can Now Settle Payroll Taxes In Cryptocurrency via Bitwage

Bridging the Gap to the Traditional Financial System

The partnership has been live in beta mode since November, with its first customer the peer-to-peer exchange Paxful. “Bitwage bridges the gap between bitcoin and the traditional finance system,” Hayel Abbassi, Paxful Controller, said. “As a company that earns 100% of revenue in bitcoin, we are always looking for service providers who will accept digital currency. Paxful has a significantly sized team in the states and we need to pay them as employees on payroll, not as contractors. Bitwage has recently formed a partnership with a traditional payroll company who integrates into their platform to provide these services. Paxful simply sends bitcoin to an address, and our employees receive net checks with the proper federal and state taxes withheld.”

American Companies Can Now Settle Payroll Taxes In Cryptocurrency via Bitwage
W2 Tax Form

According to the announcement, U.S. Bitwage clients are also able to pay for benefits such as health insurance, as well as HR compliance services. Companies around the world are able to use their crypto holdings to pay local vendors in the U.S., E.U., U.K., Brazil, Philippines, India, Mexico, Argentina and other regions.

Would you be interested in settling payroll taxes with cryptocurrency? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


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The post American Companies Can Now Settle Payroll Taxes In Cryptocurrency via Bitwage appeared first on Bitcoin News.

Bitcoin News

Phillip Frost Agrees to Settle Riot Blockchain Related Case for $5.5 Million

January 1, 2019 |

Phillip Frost Agrees to Settle Riot Blockchain Related Case for $  5.5 Million

Riot Blockchain, Inc. replaced its CEO in September after the SEC charged him in connection with a fraudulent $ 27 million pump and dump scheme. Now another person involved in that case, biotech billionaire Phillip Frost, has agreed to pay $ 5.5 million to settle the charges.

Also Read: The Daily: Best Selling Authors Introduce Bitcoin to Followers

$ 5.5 Million Settlement

Phillip Frost Agrees to Settle Riot Blockchain Related Case for $  5.5 MillionThe Securities and Exchange Commission (SEC) charged a group of 10 individuals and 10 associated entities back in September for fraudulent schemes that generated over $ 27 million from unlawful stock sales and “caused significant harm to retail investors who were left holding virtually worthless stock.”

According to the SEC’s complaint, the group of “microcap fraudsters” was led by Barry Honig who was once the largest shareholder in Riot Blockchain, Inc. (NASDAQ:RIOT) and included John O’Rourke, its former CEO. From 2013 to 2018, the South Florida-based group manipulated the share price of the stock of three companies in pump-and-dump schemes, and Miami billionaire Phillip Frost allegedly participated in two of these.

On Thursday, Frost and his company OPKO Health, Inc. (NASDAQ: OPK) announced they have agreed to a settlement with the SEC to resolve the action brought against them, subject to court approval. Without admitting or denying the SEC’s allegations, OPKO agreed to a $ 100,000 penalty. Frost agreed, also without admitting or denying the SEC’s allegations, to approximately $ 5.5 million in penalties, disgorgement, and prejudgment interest. He also agreed to a prohibition from trading in penny stocks, with certain exceptions. Frost will continue to serve as OPKO’s CEO and Chairman.

“We have reached agreement with the SEC that will end a potentially expensive, contentious and time-consuming litigation and I am happy that we can focus on an exciting and productive 2019 for OPKO Health,” said Frost.

Riot Blockchain

Phillip Frost Agrees to Settle Riot Blockchain Related Case for $  5.5 MillionBefore October 2017, Riot was a biotechnology company known as Bioptix, Inc. that specialized in the development of veterinary diagnostic tools. On October 4, 2017 Bioptix announced it was changing its name to Riot Blockchain and shifting its business focus to investing in blockchain technologies.

In February 2018 Riot was hit with a class action lawsuit in the Southern District of Florida. The complaint alleged that the company failed to disclose that it had changed its name to Riot Blockchain in order to generate investor enthusiasm and tie the company to the then recent rise in the price of cryptocurrencies. This was done despite Riot’s lack of a significant blockchain business in order to further an insider scheme that would allow controlling shareholder Barry Honig and his associates to sell their Riot securities at artificially inflated prices.

Do you think the $ 5.5 million settlement imposed by the SEC was fair? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Phillip Frost Agrees to Settle Riot Blockchain Related Case for $ 5.5 Million appeared first on Bitcoin News.

Bitcoin News

Wells Fargo to pay states $575 million to settle claims over sales practices

December 29, 2018 |

Wells Fargo & Co. will pay $ 575 million to settle state-level claims over sales practices, marking the latest cost in the fallout from a series of scandals that erupted at the bank more than two years ago.

The settlement with 50 states and the District of Columbia announced Friday resolves state…


L.A. Times – Business

Marriott and workers settle San Francisco hotel strike

December 4, 2018 |

Workers at Marriott hotels in San Francisco overwhelmingly voted Monday to settle a nine-week strike, ending the last of a series of walkouts that involved 7,700 workers in eight markets across the country.

Union leaders for workers at Marriott hotels in San Francisco said their members had voted…


L.A. Times – Business

Motel 6 agrees to settle class-action suit alleging it helped ICE target Latino guests

November 7, 2018 |

To settle a a nationwide class-action lawsuit against Motel 6, the chain has agreed to pay as much as $ 7.6 million to guests who said it gave their private information to U.S. immigration agents, according to court records.

Former guests sued Motel 6 over privacy violations this year, alleging…


L.A. Times – Business

Walmart agrees to pay $65 million to settle lawsuit over seating for California cashiers

October 12, 2018 |

About 100,000 current and former Walmart cashiers in California might soon be eligible to receive slices of a $ 65-million settlement that the retailer has agreed to pay after being accused of failing to provide suitable seating for workers who want it.

The proposed settlement was filed in federal…


L.A. Times – Business