Lawyers for former FTX head of engineering Nishad Singh have reportedly asked a New York judge to spare their client from doing any jail time. The attorneys highlighted his limited role in the events leading to the collapse of the crypto exchange, his cooperation with investigators, and his commitment to leading an “exemplary life” as...Read More
The highly anticipated debate between incumbent Massachusetts senator and digital asset critic Elizabeth Warren and her pro-crypto challenger, John Deaton, finally happened. Among the highlights of the exchange was Senator Warren’s accusation that Deaton could become a mouthpiece for the crypto industry if he won, ostensibly putting its interests ahead of those who elected him....Read More
U.S. Vice President Kamala Harris has pledged to support digital asset policies that protect crypto investors, especially black men participating in the sector. The promise was part of a wide-ranging agenda targeting men of color whom the Democratic flagbearer’s team believes could be pivotal in the November presidential elections. Securing Black Male Voters via Crypto...Read More
The sale of World Liberty Financial’s (WLF) native token, WLFI, will go live on October 15. This is according to U.S. Presidential candidate Donald Trump, whose family is fronting the venture. X Spaces Slated for October 14 Trump made the announcement over the weekend in a post on X, where he urged followers to “help...Read More
This week, bitcoin (BTC) touched a price height of $64,000 before retracing its steps to a current price mark below $62,000. This price downtrend begs the question – will the leading crypto asset unlock new heights in the near term? A CryptoQuant analyst has shared research showing what could enable the leading crypto asset to...Read More
An 86-year-old former attorney, David Kagel, has been sentenced to five years of probation for organizing a multimillion-dollar cryptocurrency Ponzi scheme that defrauded investors out of nearly $15 million. The judgment, filed on October 8 in a Las Vegas federal court, also requires him to pay $14 million in restitution to his victims. $15M Crypto...Read More
U.S. authorities, including the Securities and Exchange Commission (SEC), the Federal Bureau of Investigation (FBI), and the Department of Justice (DOJ), have charged Gotbit and four other crypto firms with widespread market manipulation. The charges also roped in several individuals who worked for the offending organizations. Market Makers Accused of Running Wash Trading Scheme According...Read More
Bitnomial has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) and its five commissioners, accusing the agency of overextending its jurisdiction. The company’s case disputes the SEC’s classification of XRP as a security, which the agency claims qualifies as an investment contract under the Securities Exchange Act. The Case Details The Chicago-based...Read More
A new survey by ConsenSys and HarrisX reveals that nearly half of U.S. voters (49%) consider a pro-crypto stance important when choosing political candidates. Additionally, 62% are willing to cross party lines for a candidate who supports pro-cryptocurrency policies. Crypto Regulation and Voter Sentiment The study also found that 85% of respondents want presidential candidates...Read More
Polymarket, the blockchain-based prediction platform, recorded a trading volume of $533.51 million in September, driven largely by interest in the 2024 U.S. presidential election and geopolitical developments in the Middle East. According to Dune Analytics, this marks a $61.51 million increase from August’s $472 million. The platform also saw a 41% rise in active users,...Read More
The United States Court of Appeals for the Ninth Circuit has reopened a case against AT&T, an American multinational telecommunications company whose employees enabled a Subscriber Identity Module (SIM) swap that led to the theft of cryptocurrencies worth $24 million in 2018. According to a filing published by the court panel, almost all charges brought...Read More
A 21-year-old man from Lebanon, Indiana, has admitted to organizing a major cryptocurrency theft, stealing over $37 million from nearly 600 victims worldwide. Evan Frederick Light appeared before U.S. Magistrate Judge Veronica Duffy on September 30, 2024, where he pleaded guilty to Conspiracy to Commit Wire Fraud and Conspiracy to Launder Monetary Instruments. The Cyber...Read More
Crypto asset manager Bitwise has officially filed for an XRP exchange-traded fund (ETF) in Delaware. It marks a major step in the push toward institutional-level investment in Ripple’s native cryptocurrency. Bitwise CIO Says Filing is Genuine Fox Business reporter Eleanor Terrett took to X on October 1 to break the news that Bitwise had registered...Read More
At the 2024 Tsinghua PBC Chief Economist Forum, former Chinese Vice Minister of Finance Zhu Guangyao urged China to re-evaluate its approach to the crypto industry. He cited the evolving international stance on digital currencies, particularly in the United States, where the asset class has gained political support from key figures like U.S. presidential candidate...Read More
U.S. authorities have charged Russian citizens Sergey Sergeevich Ivanov and Timur Shakhmametov for allegedly operating a cryptocurrency money laundering service tied to Russian cybercrime. The U.S. Department of State has issued a $10 million bounty for information leading to the arrest or conviction of each. International Crackdown on Russian Cybercrime The United States Treasury, in...Read More
A digital asset lobby group backed by Coinbase, Stand With Crypto, has been forced to change its crypto-friendly ranking of Democratic presidential candidate Kamala Harris. The group, which runs a website that ranks the level of support U.S. politicians have shown for crypto, had characterized Harris as “Supports Crypto,” giving her a “B” grade. Group...Read More
Four people have sued the U.S. Department of Justice (DOJ), demanding that it direct more funds from a $4.3 billion settlement it won against Binance into the U.S. Victims of State Sponsored Terrorism Fund (USVSST). The complainants argued in their lawsuit that the U.S. Victims of State Sponsored Terrorism Act, enacted in 2015, requires all...Read More
Bitcoin’s correlation with Wall Street has been climbing for the past several months and, earlier this week, hit a multi-year peak. This comes at an intriguing time since a few of the largest and most prominent US stock market indexes charted new all-time highs this week. BTC-Wall Street Correction Rises The Fed’s interest rate cut...Read More
Gary Gensler, the chairman of the United States Securities and Exchange Commission (SEC), believes there have been significant changes in the financial market requiring upgraded definitions of exchanges and alternative trading platforms. During the 10th Annual U.S. Treasury Market Conference on September 26, Gensler highlighted the shifts in the capital markets since the SEC first...Read More
Roman Storm, co-founder of Tornado Cash, will face trial on money laundering charges on December 2 in New York. This is after U.S. District Judge Katherine Polk Failla rejected his motion to dismiss three charges brought against him by the U.S. Department of Justice. (DOJ) Judge Rejects Roman Storm’s Defense During a remote hearing on...Read More
Federal prosecutors have indicted New York City Mayor Eric Adams following corruption investigations that have triggered the retirements and resignations of several members of his administration. Adams, a former police captain, made the headlines in 2021 when he pledged to take his first three paychecks in Bitcoin (BTC) when he became mayor. Charges Remain Unclear...Read More
PayPal Holdings, Inc. has announced a major new feature for U.S. merchants, enabling them to buy, hold, and sell cryptocurrency directly from their business accounts. This new feature aims to enhance crypto usage for businesses across the United States, except New York State, at launch. New Capabilities for Business Account Holders According to a September...Read More
Sources familiar with the living arrangements of the Metropolitan Detention Center (MDC) in Brooklyn have revealed interesting facts about two popular inmates. The recently arrested American rapper and celebrity Sean Combs, popularly known as Diddy, is in the same cell with Sam Bankman-Fried (SBF), the convicted founder of the bankrupt crypto exchange FTX. According to...Read More
A group of Republican lawmakers, headed by Rep. Patrick McHenry and Sen. Cynthia Lummis, have raised concerns over the Securities and Exchange Commission’s (SEC) approach to regulating crypto custody. In a letter addressed to SEC Chair Gary Gensler, the lawmakers demanded the agency “rescind” its Staff Accounting Bulletin No. 121 (SAB 121). Critique of SAB...Read More
Terraform Labs, the company behind TerraUSD (UST) and Luna, has secured court approval to wind down operations in bankruptcy after settling with the United States Securities and Exchange Commission (SEC). According to a Reuters report, the wind-down plan was approved by US Bankruptcy Judge Brendan Shannon, who called it a “welcome alternative” to further litigation...Read More
Anthony Scaramucci, founder of the New York-based investment firm SkyBridge Capital, has revealed that he is working with Democratic presidential candidate Kamala Harris to draft crypto policies for her campaign. According to a CNBC report, Scaramucci made the revelation at the annual TOKEN2049 crypto conference on Thursday. He told a panel during the conference that...Read More
BitMEX co-founder Arthur Hayes has reiterated his stance on the incoming interest rate cut from the Federal Reserve, terming it a “bad idea.” In an exclusive interview with CoinDesk on the sidelines of the Token2049 event, Hayes echoed his concern that risk assets like cryptocurrencies could crash shortly after the Fed rate cut. Rate Cut...Read More
Just one day after surviving a second assassination attempt, Donald Trump officially launched his long-anticipated cryptocurrency project, World Liberty Financial (WLF), through a live X Space event. However, the launch has gotten criticism from the crypto community for its lack of substantive information about the project. Community Backlash In a recent video posted on X,...Read More
Steven Lubka, head of private clients and family offices at Swan Bitcoin said in recent remarks to CNBC, “Do I think we’ll be in the six figures by 2025? Almost certainly. Do I think we’ll be in the six figures regardless of who wins? Almost certainly.” That may be assuring to fast-moving crypto markets that...Read More
The U.S. government is quietly pressuring Nigeria to release Tigran Gambaryan, a Binance executive detained in the country since February. Gambaryan has reportedly faced serious health issues while in custody, prompting calls for his release on humanitarian grounds. Humanitarian Concerns According to a New York Times report, two anonymous senior State Department officials revealed that...Read More
