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TikTok Influencer Uses Bitcoin to Launder Fraudulent COVID Relief Funds - Here’s What Happened

2.6.2023
Denish Sahadevan, a 31-year-old social media influencer, has pleaded guilty to a series of criminal charges related to money laundering using cryptocurrency. The US prosecutors have alleged that Sahadevan fraudulently obtained more than $1.2 million in government relief loans. On May 31, the...

Bybit Follows Binance’s Footsteps, Exits Canadian Market Amid Regulatory Concerns

31.5.2023
In the wake of Binance’s departure from Canada, cryptocurrency exchange Bybit has announced its exit from the nation as well, citing “recent regulatory development” as the reason. Effective May 31, Bybit stated that it would cease accepting applications from Canadian residents....

StepStone VC Raises $97M for Two Blockchain Funds

31.5.2023
SEC filings show pooled investment figures for the two private equity funds

Venture Capital Firm Tribe Capital Targets $100M for Latest Crypto Fund: Sources

31.5.2023
Tribe plans to make early-stage investments of $500,000-$3 million in layer 1 and 2 ecosystems, DeFi projects and infrastructure plays to bring real-world assets on chain

Crypto Exchange Bkex Suspends Withdrawals Amid Money Laundering Incident

30.5.2023
Bkex, a crypto exchange based in the British Virgin Islands, has suspended withdrawals due to an allegation that a user’s “funds were involved in money laundering.” In order to assist law enforcement with their investigation and gather evidence, Bkex said it has decided to halt...

South Korean Court Jails Civil Servant Who Stole Public Funds to Buy Crypto

29.5.2023
A South Korean court has handed a suspended jail term to a civil servant who stole thousands of USD worth of public funds to pay for crypto investments. Per Yonhap, the public official was handed a one-year suspended prison sentence, as well as two years of probation. The official was not named...

After Eight Years of Dormancy, Long-Forgotten Ethereum ICO Wallet Resurfaces with $15 Million Worth of Funds

29.5.2023
A wallet dating back to the Ethereum (ETH) initial coin offering (ICO) in 2015 has caught the attention of the crypto community after it suddenly moved a significant amount of funds. The wallet, which has been completely inactive since the ICO, on Saturday transferred all of its 8,000 ETH...

Treasury Secretary Yellen Revises Debt Default Date: US Government Could Exhaust Funds by June 5

28.5.2023
U.S. Treasury Secretary Janet Yellen has updated her projection regarding the date the U.S. government could default on its debt obligations. She warned that the Treasury “will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit...

Market Outlook: CME Fedwatch Tool Points to Increased Chance of June Rate Hike

26.5.2023
According to the CME Group Fedwatch tool on Thursday, there was a 51% probability of a quarter-point rate increase during the upcoming Federal Open Market Committee (FOMC) meeting on June 14. Just a fortnight ago, the Fedwatch tool indicated a slim possibility of the federal funds rate reaching...

Silver Set to Shine: Citigroup Analysts Forecast $30 Value in Next 6-12 Months

25.5.2023
Citigroup analysts foresee a significant increase in silver’s value, potentially hitting $30 per unit within the next 6-12 months, according to the multinational bank’s latest silver assessment. The experts at Citi predict an ongoing decline of the U.S. dollar and anticipate a decrease...

Crypto Exchange Hotbit Says ‘Deteriorating Conditions’ Forced It to Stop Operations

25.5.2023
China-headquartered cryptocurrency exchange, Hotbit, said on May 22 it had made the decision to halt “all cex operations.” The crypto exchange pointed to the “continuous outflows of funds from cex [centralized exchange] users” as one of the many factors that forced Hotbit...

Crypto Hacks Plunge 70% in Q1 2023, Victims Recover Over Half of Stolen Funds, but Experts Warn of Temporary Relief

25.5.2023
On May 22, 2023, a report released by the blockchain analysis firm TRM Labs delved into nearly 40 hacks and assaults on cryptocurrency projects within the first quarter, discovering a 70% decline in incidents over the previous three months. The study says the slowdown is probably temporary, with...

Tensions Rise Between SushiSwap, Lido Over Return of Exploited Funds

24.5.2023
Two decentralized finance projects are butting heads over a governance proposal that could see the recovery of 40 ETH stolen in Sushiswap's April hack

Dispersion Capital Opens $40M Fund for Web3 Infrastructure

24.5.2023
The fund was founded by Patrick Chang, an active angel investor in the crypto industry

Reuters Says They Stand by Its Reporting On Binance Commingling Customer Funds

24.5.2023
Reuters says it stands by its reporting following criticism it received from a Binance executive on its story that said the world’s largest crypto exchange commingled customer funds. In a story published on Tuesday, Reuters reporters said that Binance commingled customer funds with company...

Binance Denies Reuters Report That It Commingled Customer Funds

23.5.2023
Binance is pushing back against a Reuters report that said the world’s largest cryptocurrency exchange commingled customer funds with company revenue in 2020 and 2021. Binance Chief Communications Officer Patrick Hillmann called the story “weak,” in a five paragraph tweet on Tuesday.... Read...