According to the Financial Times, DWF Labs' subsidiaries DWF Maas and Falcon Digital have filed a lawsuit against cryptocurrency custodian BitGo in the High Court of London, accusing it of breaching an over-the-counter (OTC) agreement by selling Falcon Finance (FF) and ESPORTS tokens before the agreed lock-up period ended, resulting in a drop in token prices. The complaint states that both parties had agreed on a discounted price for the tokens, but that they were required to adhere to a three-month lock-up period and subsequent phased unlocking arrangements. DWF claims that BitGo transferred the tokens to an exchange approximately two months before the first unlocking, creating market sell-off pressure and damaging the value of its remaining holdings, leading to a claim for $141 million. BitGo has declined to comment on the lawsuit, and the related allegations have not yet been adjudicated by the court.
Welcome Back
Click “Sign in” to agree to Cointime’s Terms of Service and acknowledge that Cointime’s Privacy Policy applies to you.
Join CoinTime
Already have an account?
Click “page.Sign up” to agree to Cointime’s <a class="underline" href="#term-of-service">Terms of Service</a> and acknowledge that Cointime’s a class="underline" href="#privacy-policy">Privacy Policy</a> applies to you.
Sign in with email
Sign up with email
Your email
Check your inbox
Click the link we sent to to sign in.
Click the link we sent to to sign up.
DWF Labs Subsidiary Sues BitGo for $141 Million Breach of OTC Agreement
-
Wechat scan to share
Recommended for you
-
U.S. Treasury Secretary Becerra: GENIUS Act Establishes Federal Regulatory Framework for Stablecoin Payments
U.S. Treasury Secretary Scott Becerra stated that the GENIUS Act is a milestone in the American financial sector, further solidifying the U.S. position as a global cryptocurrency hub. He compared the bill to the National Currency Act signed by President Lincoln in 1863, asserting that it establishes a federal regulatory framework for stablecoin payments in the digital age. Becerra also mentioned that the final rules issued by the Office of the Comptroller of the Currency (OCC) will facilitate the implementation of the bill, providing a clear and pragmatic institutional foundation for private sector innovation, market competition, and maintaining U.S. leadership in the digital asset space. -
Kalshi to Support Crypto Asset-Backed Loans for Perpetual Futures Margin
Prediction market platform Kalshi has reached a new arrangement with crypto asset custodian BitGo, allowing certain clients to use their custodial crypto assets as collateral for loans, which will be used for margin in leveraged perpetual futures trading on the Kalshi exchange. This arrangement is aimed at clients of Kalshi Prime, a futures commission merchant registered in the U.S. It employs a tri-party collateral management structure. Loans will be provided by its affiliated lending company, Kalshi Katalyst, with collateral assets held at BitGo Bank & Trust. Eligible collateral assets include Bitcoin, Ethereum, and stablecoins deemed compliant with the GENIUS Act, with plans to integrate additional custodians in the future. -
Serious Security Vulnerability Discovered in PHP, Leading to Mass Shutdown of Government Websites in Europe
On October 21, due to the discovery of serious security vulnerabilities in the widely used PHP programming language, multiple government websites across Europe and other regions were forced offline on Wednesday, prompting website operators to take urgent measures to protect system security. The PHP development team announced on Tuesday that two severe security flaws had been identified and urged users to update immediately after the release of the fix. On Wednesday, the PHP team confirmed that a new version addressing the vulnerabilities had been officially released. However, reports indicated that hackers were exploiting these vulnerabilities to breach websites, leading government agencies in countries such as the Netherlands and Finland to proactively shut down some sites before the patch was made available. PHP is one of the most widely used programming languages on the internet, supporting website platforms such as WordPress, Drupal, Joomla, and Magento. According to website technology statistics agency W3Techs, approximately 75% of websites that can identify their programming language use PHP. About 43% of websites globally are powered by WordPress, covering blogs, small business sites, government portals, e-commerce platforms, and news websites. This security incident has resulted in widespread disruptions to websites across multiple European countries, including the Port of Rotterdam, the government portal Overheid.nl, the Royal Netherlands Football Association, the websites of the country's five major political parties, and several hospital websites, all of which have been temporarily shut down. -
US Stock Indices Open Slightly Higher; SpaceX Soars 8% After Earnings
The three major US stock indices opened slightly higher, with the Dow Jones Industrial Average up 0.20%, the S&P 500 up 0.29%, and the Nasdaq Composite up 0.71%. SpaceX opened 8% higher, reporting third-quarter revenue of $14.6 billion, a year-on-year increase of 161%. Elon Musk stated that the annual recurring revenue (ARR) is expected to reach between $500 billion and $1 trillion by the end of 2027. Among other popular stocks, Nvidia rose 2.15%, Apple increased 0.09%, Google (Class A) fell 1.28%, Microsoft decreased 0.56%, Amazon was up 0.01%, TSMC rose 1.95%, SpaceX climbed 7.8%, Meta increased 0.24%, Broadcom rose 0.8%, Tesla was up 2.98%, SK Hynix increased 4.11%, Micron Technology rose 3.31%, AMD was up 2.25%, ASML increased 2.83%, Intel rose 2.01%, Cisco increased 0.67%, Oracle was up 1.55%, Dell Technologies (Class C) rose 7.81%, and ARM increased 2.78%. -
ZEC Surpasses $1300
Market data shows that ZEC has surpassed $1300, currently priced at $1315.68, with a 24-hour increase of 14.89%. Due to significant market fluctuations, please ensure proper risk management. -
OpenAI to Launch on Google Cloud: Cutting-Edge Models like GPT-6 Astra and Codex Code Intelligence Available on Google Cloud
On October 21, the two companies announced that in the coming weeks, OpenAI will offer its cutting-edge AI models and Codex code intelligence services through Google Cloud. This move deepens the collaboration between these two competitors and highlights how major cloud service providers are becoming important distribution channels for top AI models. According to a corporate blog announcement, this partnership will integrate OpenAI's latest models, including GPT-6 Astra, into Google Cloud's Model Garden. Customers will be able to purchase these models on the Google Cloud Marketplace and settle using their existing cloud service procurement credits. OpenAI aims to promote its models to a broader range of enterprise customers. -
Zelensky: Willing to Reach Peace Agreement While Retaining Control of At Least 75% of Territory
On October 21, Ukrainian President Zelensky stated in an interview that Ukraine could reach a peace agreement while retaining control of at least 75% of its territory. When asked by the host whether he would be willing to accept a peace agreement that would freeze the situation as it is, with Ukraine still holding 75% or more of its land, Zelensky responded affirmatively, stating, "Now we must freeze (the front lines), this is a practical way to end this war." (CCTV News) -
CME Group Plans to Launch AI Model Token Expenditure Tradable Index Product with Silicon Data
On October 21, CME Group announced its intention to collaborate with AI index startup Silicon Data to launch a tradable product based on AI model Token expenditures. The product will be based on its large language model (LLM) Token index, which will weight the Token prices of different AI models according to usage. Carmen Li, CEO of Silicon Data, stated that while the market has a good understanding of GPU computing costs, there is still a lack of awareness regarding the consumption layer of the AI economy. In August of this year, the two parties announced plans to launch a futures product based on GPU leasing costs. Silicon Data indicated that the new Token index product is expected to be launched in the coming months, pending regulatory approval. The LLM Token expenditure index released by the company is currently hovering near its lowest point since its launch in December last year, following a decline over the summer, which may reflect users shifting from high-end models to more affordable alternatives. -
OCC Finalizes GENIUS Act Stablecoin Regulation Rules, Effective January 2027
The Office of the Comptroller of the Currency (OCC) released the final rules for the implementation of the GENIUS Act on Wednesday, becoming the first regulatory agency to complete the formulation of stablecoin regulatory rules under this act. The new rules will take effect on January 18, 2027. The regulations establish a framework for approved stablecoin issuers and provide a pathway for both banking and non-banking institutions to conduct stablecoin payment operations, while also clarifying standards for foreign stablecoin issuers and asset custody. The final rules require stablecoin issuance regulation to adhere to standards such as reserve support, redemption, and risk management. Unlike previous proposals, the new rules do not include presumptive violation clauses related to specific business relationships between issuers and third parties. However, regulatory officials stated that the OCC will still assess relevant arrangements on a case-by-case basis and has the authority to take enforcement action against behaviors that evade the requirements of the act. The issue of stablecoin rewards has previously become a contentious point between the U.S. banking industry and the cryptocurrency sector, with banks concerned that such rewards could lead to deposit outflows, although the GENIUS Act does not fully prohibit platforms from offering rewards to users. -
SK Hynix Completes 40 Trillion Won Share Buyback
On October 21, according to Yonhap News Agency, SK Hynix's large-scale share buyback, following that of Samsung Electronics, also concluded on the 21st. SK Hynix announced that it completed a two-month share buyback worth 40 trillion won (approximately 30.213 billion USD) on the Korea Securities Exchange (KOSPI) on that day. Previously, SK Hynix had declared an investment of 40.0434 trillion won to repurchase 24.07 million shares of the company, with all shares to be canceled after the buyback is completed. This buyback represents about 3.3% of the company's total issued shares and is the largest share cancellation operation by a listed company in South Korea. The originally announced buyback period was from August 20 to November 19, but the actual buyback was completed approximately one month ahead of schedule.
Daily Must-Read
-
KeyFlow: As AI Agents Enter Large-Scale Collaboration, Value Flow Is Becoming a New Foundation of the Intelligent Economy
-
OpenAI Just Gave Agents Their Own Computers: AI Is Finally Starting to “Go to Work” — and UniKey’s Next Step Is Bigger Than Agent Factory
-
Breaking the Monopoly of Market Makers: DMDAI’s Autonomous AI Hash Power Network and Distributed Computing Infrastructure Open the Door to Community-Driven Market Making
-
Rebuilding On-Chain Liquidity Sovereignty: How the COMM Protocol Tackles LVR Losses and Captures Cash Flow for the Community
-
KeyFlow: Connecting UniKey, AI Agents, and the KEY Value System, Turning Intelligent Services from “Being Called” into “Sustainable Flow”
-
The AI Universe Gateway Is About to Open: KeyFlow Official DApp to Launch Global Public Beta and Genesis Registration on July 29
All Comments