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CFTC Takes Legal Action Against Kucoin, Highlights BTC, ETH, and LTC as Commodities
28.3.2024
The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Kucoin, emphasizing the classification of bitcoin, ethereum, and litecoin as commodities. The enforcement action, launched in the U.S. District Court for the Southern District of New York, accuses Kucoin of multiple...
SEC Charges American Bitcoin Academy Founder With Fraud That Cost Students $1.2 Million
3.2.2024
The U.S. Securities and Exchange Commission (SEC) has charged the founder of American Bitcoin Academy, accusing him of running an online fraudulent crypto scheme that cost students $1.2 million. The defendant “falsely claimed that his investment strategies would be guided by his...
Binance’s American VIPs: A Revealing Look at High-Net-Worth Influence Amid DOJ Settlement
22.11.2023
On Tuesday, charges against crypto exchange titan Binance Holdings Limited were revealed by the U.S. Department of Justice (DOJ), which reached a significant $4.316 billion settlement with the world’s largest crypto exchange for noncompliance with anti-money laundering (AML) laws. Despite Binance’s...
SEC Charges FTX Auditor for Helping Clients Violate Securities Laws
2.10.2023
The U.S. Securities and Exchange Commission (SEC) announced charges against an accounting firm that worked for failed cryptocurrency exchange FTX. The company, Prager Metis, has been accused of facilitating clients in breaking federal securities laws and also auditor independence violations....
How long could Sam Bankman-Fried go to jail for?
29.9.2023
“I think he’ll get the maximum sentence” — one lawyer predicts the former FTX CEO could look at life behind bars if convicted of all seven charges
Crypto Regulation Needs Teeth: Ex-SEC Official Pushes for DOJ Involvement
26.9.2023
The issue of crypto regulation in the United States has intensified following outspoken criticisms from John Reed Stark, a former SEC official, on Saturday. ...
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Former Celsius Boss Alex Mashinsky Seeks Dismissal of FTC Lawsuit
13.9.2023
Alex Mashinsky, the former CEO of Celsius Network, has filed a motion to dismiss the Federal Trade Commission (FTC) lawsuit against him. In the motion, Mashinsky argues the FTC has failed to allege he violated any laws or rules. His lawyers say the FTC is not entitled to monetary relief and cannot...
Crypto Tycoon Bankman-Fried Seeks Release From Jail Over Trial Prep and Laptop Complaints
10.9.2023
Attorneys for fallen cryptocurrency tycoon Sam Bankman-Fried are requesting his temporary release from a Brooklyn jail, arguing that limited access to trial evidence and computers is impeding his ability to prepare his defense. Sam Bankman-Fried’s Lawyers Urge Temporary Release Amid Trial...
CFTC Cracks Down on 3 Defi Platforms for Offering Illegal Derivatives
9.9.2023
The U.S. Commodity Futures Trading Commission (CFTC) has issued orders against the operators of three decentralized finance (defi) protocols. The regulator accused them of committing various violations of commodity laws including illegal trading of digital asset derivatives. U.S. Commodities...
Report: Former FTX Co-Chief Ryan Salame Contemplates Guilty Plea
7.9.2023
According to insiders who reached out to Bloomberg, there are intriguing developments surrounding Ryan Salame, the former co-chief executive of FTX Digital Markets. The buzz is that he is gearing up to admit guilt in response to criminal charges. This marks a significant shift from his earlier...
Samuel Trabucco’s Multi-Million Dollar Yacht Spotlighted in FTX’s Financial Records
4.9.2023
The FTX debtors filed a bankruptcy court document detailing lavish cash transfers and purchases by former CEO Sam Bankman-Fried and other company insiders. The section titled “Statement of Financial Affairs for Non-Individuals Filing for Bankruptcy” shows that Bankman-Fried reportedly...
Prosecutors Challenge FTX Founder’s Legal Advice Defense Ahead of Fraud Trial
30.8.2023
Sam Bankman-Fried’s legal team claimed last week that the FTX founder received assurances from lawyers his actions were lawful. However, federal prosecutors are now contesting the validity of Bankman-Fried’s defense strategy ahead of trial. Bankman-Fried’s Legal Defense...
Bankman-Fried Lawyers Seek Client’s Temporary Release for Trial Prep
29.8.2023
Sam Bankman-Fried’s high-powered legal team is pushing for the FTX founder’s temporary release from jail ahead of his October trial on fraud charges. In a motion filed Thursday, lawyers Mark Cohen and Christian Everdell claim Bankman-Fried’s Sixth Amendment rights are being...
SEC Charges Impact Theory Over NFT Sales
29.8.2023
Today, Los Angeles-based media conglomerate Impact Theory came under scrutiny after being accused by the Securities and Exchange Commission (SEC) of executing an unregistered sale of crypto asset securities in the form of non-fungible tokens (NFTs). ...
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Tornado Cash Co-Founder Roman Storm Released on Bail
26.8.2023
One of the founders of the Tornado Cash crypto mixer, Roman Storm, has been released on bail, his lawyer announced on social media. Storm, who was arrested in the United States, has been charged with money laundering and sanctions violations through the unlicensed platform. Storm Out on Bail After...
‘Our Country Is Going to Hell’ — Trump Warns of US Losing Global Currency Dominance
17.8.2023
The 45th president and previous White House occupant, Donald Trump cautions that America is in danger of losing its global influence. In an interview with Larry Kudlow, Trump stated while the U.S. retains significant power, its position is “waning” concerning its currency. The Diminishing Dollar?...
Bankman-Fried Donated $100 Million of FTX Money to Politicians, Prosecutors Claim
16.8.2023
Crypto exchange FTX founder Sam Bankman-Fried (SBF) spent more than $100 million of customer funds on political donations, according to an amended indictment. On Monday, U.S. federal prosecutors also alleged that he used two FTX executives as “straw donors” to evade contribution limits....
Former FTX Co-CEO Ryan Salame to Plead the Fifth, Declares Himself ‘Unavailable as a Witness’
15.8.2023
U.S. federal prosecutors have unveiled court documents indicating that ex-FTX CEO Sam Bankman-Fried (SBF) is entangled in a web of allegations, with illegal political campaign financing being a significant charge. In light of these allegations against SBF, Ryan Salame, FTX Digital Markets’...
FTX’s Sam Bankman-Fried to Face Campaign Finance Charge, Prosecutors Say
9.8.2023
Founder of failed crypto exchange FTX, Sam Bankman-Fried, will be held accountable for alleged campaign finance violations, U.S. prosecutors indicated on Tuesday. The charge was dropped earlier because the extradition treaty with the Bahamas prevents adding further charges without prior permission...
FTX’s former law firm hit with lawsuit alleging it set up ‘shadowy entities’
9.8.2023
The suit claims “shadowy entities” set up by Fenwick & West were allegedly used by FTX and former top executives to misappropriate customer funds