Sam Bankman-Fried, the founder and former CEO of the failed cryptocurrency exchange FTX, was found guilty on all counts by a federal jury in New York on Thursday. The verdict came after roughly four hours of jury deliberations following a long trial. Bankman-Fried faced seven criminal charges related to fraud and conspiracy in the collapse […]
The U.S. Department of Justice announced charges on November 2, 2023, against three executives of SafeMoon LLC for allegedly defrauding investors out of millions of dollars through misrepresentations about their cryptocurrency asset SafeMoon (SFM). According to the charges, SafeMoon launched its SFM token in March 2021, quickly amassing over 1 million holders and a market […]
A Chinese court has sentenced 21 individuals for their role in laundering over $300 million worth of Tether stablecoins from online scams and illegal casinos. According to court documents, defendants Jiang and Zheng masterminded a scheme recruiting 19 others to launder 2.25 billion yuan ($307 million) in illicit USDT proceeds into Chinese yuan. The group […]
Bitcoin pushed to fresh yearly highs above $35,500 on Wednesday, while altcoins staged powerful rallies in the wake of the latest Federal Reserve decision on interest rates. Led by a 12% surge in Solana, altcoins significantly outperformed bitcoin through the day’s trading. Bitcoin rose 3.4% but firmly exceeded the $35,000 resistance that had capped its […]
Amir Bruno Elmaani, founder of the defunct crypto project Oyster Protocol, has received the maximum 4-year prison sentence for evading over $5.5 million in taxes. The 31-year-old, known as “Bruno Block,” pleaded guilty in April to secretly minting and selling millions of Pearl tokens while not reporting profits to tax authorities. Between 2017 and 2018, […]
Unibot, a widely used cryptocurrency trading bot on messaging platform Telegram, appears to have fallen victim to a major hack exploiting a vulnerability in a newly deployed contract. According to blockchain analytics firm Lookonchain, an unknown attacker drained an estimated $600,000 worth of meme coins and other crypto assets from Unibot users starting October 29th. […]
Exchange-traded products (ETPs) tied to cryptocurrencies saw their biggest weekly inflow of investor capital in more than 15 months, according to a report published on October 30. The data signals a potential shift to more bullish sentiment among crypto investors. Per the report from asset management platform CoinShares, crypto ETPs brought in $326 million for […]
Billionaire hedge fund manager Stanley Druckenmiller recently shared his perspective on Bitcoin, praising the leading cryptocurrency for establishing a strong brand over the last decade and a half. While Druckenmiller admitted he does not currently own any bitcoin, he believes he probably should. In an interview on October 30 with fellow billionaire investor Paul Tudor […]
The UK government published its final rules for regulating cryptocurrencies and stablecoins on Monday, outlining a phased approach to bringing crypto activities under official oversight. The Treasury plans to introduce legislation on fiat-backed stablecoins by early 2024, marking the first phase of crypto regulation. This will bring certain fiat-stablecoin activities under the authority of the […]
A recent spate of crypto thefts has been tied back to a breach of the password manager LastPass in December 2022, according to investigators. Researchers ZachXBT and Tayvano traced over $4.4 million stolen from around 80 crypto wallets belonging to 25 LastPass users. The victims likely had their seed phrases or private keys compromised in […]