Skip to main content

Featured Story

Unveiling the Sci-Fi Spectacle: NextCypher's "Deathlands" Directed by Jonathan Frakes

Jeff Garzik's production company, NextCypher, has enlisted the talents of Star Trek's Jonathan Frakes to direct an adaptation of the sci-fi novel Deathlands. Frakes, known for his role as Commander Riker on Star Trek: The Next Generation, brings his experience as a veteran director who has worked on TV shows like Star Trek: Strange New Worlds, Star Trek: Picard, and Leverage: Redemption to this project. Garzik expressed his excitement by stating that he was "incredibly humbled and blessed" to have Frakes on board. Key Points: Deathlands Adaptation: Based on a series of novels by James Axler and Jack Adrian, Deathlands follows a group of survivors navigating a post-apocalyptic world using teleportation technology. Garzik described the show as a blend of "Mad Max meets AI meets the monsters from Tremors." Refreshed Adaptation: Garzik highlighted that the TV series offers a modern take on the original post-Cold War, post-nuclear war scenario presented in

Legal Showdown: SEC vs. Coinbase - Regulatory Battle in the Crypto Industry

In a much anticipated legal showdown, attorneys for the Securities and Exchange Commission (SEC) and Coinbase squared off in a Manhattan courtroom on Wednesday, arguing over whether the SEC's lawsuit against Coinbase should be dismissed. The federal regulator accused the crypto exchange last June of operating illegally, in violation of securities laws. Over the course of a nearly five-hour hearing, U.S. District Judge Katherine Polk Failla prodded both sides on the merits of their respective arguments. She seemed particularly willing to question the SEC's claim that existing securities laws can so easily apply to the novel cryptocurrency industry.

Judge's Concerns:

  • Judge Failla expressed fear that the SEC's argument might be sweeping too broadly.
  • She raised a hypothetical scenario where a ruling in the SEC's favor could open the door to a Beanie Babies class action lawsuit.
  • Judge Failla questioned the SEC attorney about the implications of their test on collectibles or commodities.

In a lively exchange, an SEC attorney tried to minimize the significance of a brief filed in support of Coinbase by Senator Cynthia Lummis (R-WY), a noted crypto advocate. However, Judge Failla seemed unconvinced by the attorney's argument and even suggested that the SEC attorney was not showing proper deference to Senator Lummis.

Senator Lummis' Involvement:

  • Judge Failla highlighted Senator Lummis' significant involvement in the crypto space.
  • She mentioned that Senator Lummis is a co-sponsor of legislation proposing a regulatory framework that differs from the Howey Test.
  • Senator Lummis' proposed legislation aims to create a specialized regulatory framework for the digital assets industry, stripping the SEC of its authority to sue most crypto projects and exchanges.

Judge Failla's comments during the hearing indicated a level of sympathy towards Senator Lummis' perspective and suggested a willingness to consider alternative regulatory frameworks for the crypto industry.

Comments

Trending Stories