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US appeals dismissal of Chinese agent’s lawsuit against casino mogul Wynn By Reuters

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© Reuters. Steve Wynn, Chairman and CEO of Wynn Resorts, speaks during the Milken Institute Global Conference in Beverly Hills, Calif., US, May 3, 2017. REUTERS/Mike Blake

By Kanishka Singh

WASHINGTON (Reuters) – The U.S. Department of Justice will appeal a decision to dismiss a lawsuit against casino magnate Steve Wynn that it accused of acting as a Chinese agent.

Wynn defeated the lawsuit in October when a federal judge in Washington, D.C., said the casino mogul could not be required to register with the Justice Department as a foreign agent for China.

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“…The Attorney General of the United States of America hereby appeals to the Court of Appeals for the District of Columbia, United States, this court’s judgment of the twelfth day of October 2022, which grants Defendant’s motion to dismiss,” the Department of Justice said in a statement on Monday. Friday.

The Justice Department in May sued against a court order forcing Wynn, the former CEO of Wynn Casinos, to register under the Foreign Agents Registration Act (FARA).

The officials alleged Wen lobbied then-US President Donald Trump on behalf of China in 2017. Wen’s lawyers have denied that he was an agent of the Chinese government.

Because any relationship between Wen and the Chinese government ended in 2017, US District Judge James Boasberg said in October, the Republican donor cannot be required to register as an agent. The judge cited previous precedent in a D.C. federal court in issuing the ruling.

The judge said he was not deciding whether Wen lobbied for China. He also said the Justice Department could pursue criminal penalties against Wen for failing to disclose the alleged lobbyists, if the statute of limitations had not expired.

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MicroStrategy is at its lowest level since 2020 after the sales were revealed

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(Bloomberg) — Shares of MicroStrategy touched their lowest level since August 2020 after the enterprise software company, which in recent years has been known as the largest buyer of bitcoin, revealed its first sale of the token.

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The stock fell 1.1 percent to $136.63 on Thursday, down 75 percent this year. Bitcoin rose less than 1% to around $16,590 and is believed to have fallen 64% since the start of the year.

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In a filing on Wednesday, MicroStrategy said it acquired approximately 2,395 Bitcoin between the beginning of November and December 21 through its subsidiary MacroStrategy, and paid out approximately $42.8 million in cash. It then sold 704 of the tokens on Dec. 22 for a total of about $11.8 million, citing tax purposes, before buying another 810 of them two days later.

Matt Malley, chief market strategist for Miller Tabak + Co. Step down as CEO. This news means they don’t seem to want to do that anytime soon.”

Overall, MicroStrategy held about 132,500 bitcoins worth over $4 billion USD as of December 27th. The company paid an average purchase price of $30,397 per bitcoin.

“Given MicroStrategy’s $2.4 billion in leverage, we believe the company may have a lot of leverage over Bitcoin, and may face some liquidity risk,” Jefferies analyst Brent Thiel wrote in a note on Wednesday. Thill has an “underperform” rating on the stock and a price target of $110.

Over the years of the pandemic, MicroStrategy has become well known for its Bitcoin takeovers, largely led by Saylor. Earlier this year, Saylor stepped down from that role and now serves as CEO at the company and continues to lead its bitcoin strategy.

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MicroStrategy was trading around $120 before Saylor first announced the company’s Bitcoin purchases in 2020. The stock reached an all-time high of $1,315 in February 2021.

(Updates to include the stock’s closing price in the second paragraph.)

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Bankman-Fried May File Petition in New York Federal Court Next Week Before Judge Louis Kaplan By Cointelegraph

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Former FTX CEO Sam Bankman-Fried is set to appear in court on the afternoon of January 3 to enter a lawsuit over two counts of wire fraud and six counts of conspiracy against him related to the collapse of cryptocurrency exchange FTX, according to Reuters. mentioned on December 28, citing court records. Bankman-Fried will appear before District Judge Lewis Kaplan in Manhattan.

Judge Kaplan was appointed to hear the case on December 27 after the original judge in the case, Ronnie Abrams, Resigned herself because of connections between FTX and the law firm Davis Polk & Wardwell, where her husband is a partner. The company provided advisory services to FTX in 2021.