Crypto News
Ripple Opposes SEC’s $2B Fine Request, Argues for $10M Penalty
Ripple has filed its opposition to the Securities and Exchange Commission’s (SEC) Motion for Remedies and Entry of Final Judgment in the ongoing legal battle over the sale of XRP tokens. The move comes after the SEC proposed that Ripple should pay nearly $2 billion in fines for selling XRP to institutional investors. However, Ripple …...
Two SEC Lawyers Exit After Judge Sanctions Agency in DEBT Box Case
According to a recent report by Bloomberg, two Securities and Exchange Commission (SEC) lawyers have resigned following a federal judge’s rebuke of the agency for its handling of a crypto case against DEBT Box. According to sources familiar with the matter, Michael Welsh and Joseph Watkins resigned after an SEC official threatened to fire them …...
Sam Bankman-Fried Plans To Strike A Deal with FTX Customers
In a recent development, Sam Bankman-Fried, the convicted founder of the collapsed cryptocurrency exchange FTX, has reached a settlement agreement with a group of FTX customers who had filed a class action lawsuit against him. The agreement was filed in a Miami court on Friday and is yet to be approved by a judge. If …...
Crypto Investment Products Experience $206,000,000 Outflows
Crypto investment products have witnessed outflows for the second week in a row. According to the data, a total of $206 million in capital exited the market. CoinShares reported that this trend coincides with a slight dip in trading volumes for exchange-traded products (ETPs), which recorded $18 billion in transactions. The data suggests that investor …...
Thailand SEC to Block Access to Unauthorized Crypto Service Providers
The Securities and Exchange Commission (SEC) of Thailand has announced its collaboration with the Ministry of Digital Economy and Society (DE) and other related agencies. The collaboration is part of the plan to block unauthorized access to digital asset service providers’ platforms. This move aims to increase the efficiency of law enforcement and prevent criminals …...
Solana Meme Coin Presales Raise Over $26M, 12 Projects Completely Abandoned
ZachXBT, a crypto sleuth, recently revealed that 12 Solana meme coin projects have collectively raised more than 180,650 SOL (approximately $26.7 million) through presale events. However, he emphasized that the founders abandoned these coins within a month of their launch. Key points: According to the data shared by ZachXBT, the presale that raised the highest …...
Nigerian Court Adjourns Binance Tax Evasion Trial to May 17
A Nigerian court has adjourned the tax evasion trial against cryptocurrency exchange Binance and two of its executives until May 17. BusinessDay, a local news platform, reports that the decision followed a procedural standoff because the exchange has not yet received formal charges. The absence of one executive and the ongoing detention of another have …...
US Jury Finds Crypto Trader Guilty in $110M Mango Markets Manipulation
A federal jury in New York has found Avraham Eisenberg, a 28-year-old crypto trader, guilty of commodities fraud, commodities manipulation, and wire fraud for his actions on the decentralized finance platform Mango Markets. According to Bloomberg, the verdict, delivered on Thursday, marks the first time a US trial involving criminal charges tied to cryptocurrency manipulation …...
Tether Expands Beyond Stablecoins, Launches Four New Business Divisions
Stablecoin issuer Tether has announced a significant expansion beyond its well-known USDT stablecoin offering. To deliver a range of infrastructure solutions, Tether has established four distinct business divisions: Tether Data, Tether Finance, Tether Power, and Tether Edu. Key points: This shift in Tether’s approach is part of its effort to provide sustainable solutions that adapt …...
Binance Set to Re-Enter India After Paying $2 Million Penalty: Report
Binance, the world’s largest cryptocurrency exchange, is reportedly preparing to make a comeback in India after being banned by the government in January. According to a report by the Economic Times of India, the exchange is set to pay a penalty of approximately $2 million. Additionally, sources familiar with the matter stated that the exchange …...
Crypto Investment Products Experience $126,000,000 Outflows
Crypto investment products saw minor outflows totaling $126 million last week, according to a report by CoinShares. The outflow occurred as investors appeared to be hesitant in the face of stalled positive price momentum. Despite a slight increase in overall volumes from $17 billion to $21 billion week-on-week, ETP/ETF activity dropped relative to the overall …...
UK Set to Introduce Comprehensive Crypto Regulation by July
The UK government is on track to introduce comprehensive legislation for the regulation of crypto assets by June or July, according to Economic Secretary Bim Afolami. Speaking at the Innovate Finance Global Summit on Monday, Afolami confirmed that the government is working swiftly to deliver the legislation that will bring a wide range of crypto-related …...
Solana Developers Release Software Update to Alleviate Network Congestion
The Solana developers have recommended a new software update, version 1.17.31, for general use by mainnet validators. The release, which aims to address the congestion problem that has plagued the popular blockchain in recent months, contains improvements designed to alleviate the ongoing network congestion. Key points: Read more: Hong Kong Approves Spot Bitcoin And Ethereum …...
Hong Kong Approves Spot Bitcoin and Ethereum ETFs Amidst Market Slump
The Hong Kong Securities and Futures Commission (SFC) granted approval to several spot Bitcoin and Ethereum exchange-traded funds (ETF) applications on Monday. This development comes as Hong Kong continues its efforts to establish itself as a leading destination for crypto firms and investors. Key points: The approval of these spot crypto ETFs marks a significant …...
Coinbase Files Interlocutory Appeal in SEC Case
Coinbase has filed an interlocutory appeal in its ongoing legal battle with the Securities and Exchange Commission (SEC). The appeal, filed on Friday, aims to address a narrow point of legal disagreement and seeks to have it considered independently by the U.S. Court of Appeals for the Second Circuit. Key points: The appeal comes after …...
Security Engineer Gets 3-Year Prison Term for Hacking Decentralized Crypto Exchanges
The court sentenced Shakeeb Ahmed, a former senior security engineer, to three years in prison for hacking two separate decentralized crypto exchanges and stealing over $12 million worth of cryptocurrency. Damian Williams, the United States Attorney for the Southern District of New York, announced the sentence, marking the first-ever conviction for the hack of a …...
FTX Founder Sam Bankman-Fried to Challenge 25-Year Prison Term
Sam Bankman-Fried, the disgraced co-founder of the now-defunct cryptocurrency exchange FTX, has formally initiated the process to appeal his conviction and the 25-year prison sentence. SBF lodged an appeal in the Manhattan federal court on Thursday, following his sentencing to over 25 years in prison by Judge Lewis A. Kaplan. Key points: Read more: Robert …...
Robert Kiyosaki Backs Cathie Wood’s $2.3 Million Bitcoin Price Prediction
In a recent tweet, Robert Kiyosaki, the renowned author of the best-selling book “Rich Dad Poor Dad,” expressed his support for Cathie Wood’s bold prediction that Bitcoin will reach $2.3 million per coin. Kiyosaki praised Wood’s intelligence and her willingness to make mistakes and learn from them. Key points: Read more: Former FTX Executive Ryan …...
Former FTX Executive Ryan Salame’s Sentencing Rescheduled to May 28
Ryan Salame, a former executive of the collapsed cryptocurrency exchange FTX, will face sentencing on May 28 in a New York courtroom. The sentencing, which was originally set for May 1, has been rescheduled for reasons that remain unclear. Salame is scheduled to appear before Judge Lewis Kaplan of the United States District Court for …...
Uniswap Labs Receives Wells Notice from SEC
Hayden Adams, the founder of Uniswap, a leading decentralized exchange, has announced that Uniswap Labs has received a Wells notice from the U.S. Securities and Exchange Commission (SEC). In a recent tweet, Adams expressed his frustration and disappointment with the SEC’s decision to target long-time good actors in the cryptocurrency industry while allowing bad actors …...
