Latest News
By Federal Newswire | Feb 22, 2024
U.S. Representative Tom Emmer (R-Minn.) has accused the media of inaccurately portraying Hamas's use of cryptocurrency, claiming that lawmakers are using this false information as the basis for legislation. He has urged the U.S. Treasury Department to provide accurate details about Hamas's crypto usage.
By Federal Newswire | Feb 21, 2024
Tyr Capital, a crypto hedge fund, is facing allegations of criminal mismanagement due to purportedly disregarding its internal risk limit through excessive exposure to FTX. Following a complaint by TGT, another hedge fund that invested with Tyr, Swiss prosecutors have raided the premises of the accused firm.
By Federal Newswire | Feb 16, 2024
Austin Campbell, an adjunct professor at Columbia Business School and former chief risk officer at Paxos, expressed to Federal Newswire that the potential imprisonment of Changpeng Zhao (CZ), co-founder and former CEO of cryptocurrency exchange Binance, for over a year could prompt inquiries as to why traditional bank executives have not been incarcerated for similar offenses. Campbell highlighted that despite both CZ and Sam Bankman-Fried, founder and former CEO of crypto exchange FTX, facing criminal sentences, their cases are distinctly different.
By Federal Newswire | Feb 15, 2024
FTX, under the leadership of CEO John Ray III, has announced plans to fully reimburse all former customers who were defrauded. Legal representatives for FTX's bankruptcy estate have informed a judge that they anticipate having sufficient funds to fully repay customers and creditors with legitimate claims against the company.
By Federal Newswire | Feb 15, 2024
Austin Campbell, an adjunct professor at Columbia Business School and former chief risk officer at Paxos, has shed light on the legal issues surrounding Binance founder Changpeng Zhao (CZ) and FTX founder Sam Bankman-Fried. Speaking to Federal Newswire, Campbell highlighted that the case against CZ bears similarities to failures at major banks, whereas Bankman-Fried stands accused of misusing customer funds and deceiving investors. He also pointed out that U.S. government agencies have recognized many of Binance's historical compliance issues as resolved.
By Federal Newswire | Feb 13, 2024
A recent filing in a Seattle federal court has announced the postponement of Binance co-founder Changpeng Zhao's sentencing from February 23 to April 30. The filing, dated February 12, did not provide a reason for the delay.
By Federal Newswire | Feb 13, 2024
New York Attorney General Letitia James has broadened the lawsuit against Digital Currency Group (DCG) to over $3 billion, following claims from investors of higher losses than initially estimated. The original lawsuit was approximately $1 billion before this expansion.
By Federal Newswire | Feb 8, 2024
Austin Campbell, founder and managing partner of Zero Knowledge Consulting, a firm specializing in data processing systems design, has offered his perspective on the ongoing debate about cryptocurrency and its potential use in financing terrorism. Campbell suggests that it is crucial for the government to clarify whether its objective is specifically to target funding for Hamas or to shut down all possible funding channels, a move which could potentially exacerbate the situation.
By Federal Newswire | Feb 8, 2024
Omid Malekan, an author and adjunct professor at Columbia Business School, has expressed concerns about the impact of U.S. regulatory agencies on both the cryptocurrency industry and the traditional financial sector. In a statement posted on X, Malekan singled out U.S. Sen. Elizabeth Warren (D-Mass.) for her role in the difficulties faced by U.S. banks with ties to the crypto industry.
By Federal Newswire | Jan 31, 2024
Brad Garlinghouse, the Chief Executive Officer of cryptocurrency exchange Ripple, has stated that crypto companies in the United States are eager to comply with regulations. However, he notes that the country is trailing behind others in implementing concrete guidelines for the industry. In contrast, he says that these companies are forced to seek regulatory clarity through legal battles.
By Federal Newswire | Jan 31, 2024
Visa has announced that it is enabling cryptocurrency withdrawals on debit cards in 145 countries, following a partnership with Transak, a provider of payment infrastructure for cryptocurrency assets.
By Federal Newswire | Jan 31, 2024
FTX, the former cryptocurrency exchange company, has opted to discontinue its attempts to revive its crypto exchange. Instead, the firm will liquidate its existing assets in a bid to refund customers.
By Federal Newswire | Jan 31, 2024
Binance, the world's leading cryptocurrency exchange, has outlined its collaboration with global law enforcement agencies to enhance the safety of the blockchain ecosystem. The company stated in a blog post that ensuring the security of crypto users is its primary concern.
By Federal Newswire | Jan 27, 2024
In 2023, the total value of stolen cryptocurrency funds witnessed a significant decrease of 54.3%, amounting to $1.7 billion. This is in stark contrast to the previous year when over $3.7 billion were pilfered through hacks and theft.
By Federal Newswire | Jan 27, 2024
Ark Invest has recently acquired 94,918 shares of its own Bitcoin Exchange-Traded Fund (ETF), a move that underscores CEO Cathie Wood's enduring optimism about the future growth potential of the cryptocurrency. Wood has asserted her belief that Bitcoin could escalate to a price exceeding $1.5 million by 2030.
By Federal Newswire | Jan 27, 2024
The United States Government has announced plans to auction off over $131 million worth of Bitcoin, previously seized in a money laundering and drug trafficking operation. The cryptocurrency was initially intended for federal forfeiture.
By Federal Newswire | Jan 27, 2024
Since the Securities and Exchange Commission (SEC) approved Bitcoin to be traded as an Exchange-Traded Product (ETP), the price of the cryptocurrency has experienced a 15% decrease. The approval for the listing of spot bitcoin exchange-traded product shares was granted on January 10th.
By Federal Newswire | Jan 27, 2024
In 2023, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission have accused Binance, a leading cryptocurrency exchange platform, of numerous violations and fraudulent schemes. The charges encompass inflating trading volumes, misappropriation of customer funds, and misleading investors about market controls.
By Federal Newswire | Jan 27, 2024
The Commodity Futures Trading Commission (CFTC) has accused digital asset trading platform Debiex of fraudulent practices and misappropriation linked to an online romance scam. The charges suggest that the digital asset company employed typical romance scam strategies to divert $2.3 million of customer funds initially designated for digital asset commodity trading.
By Federal Newswire | Jan 24, 2024
Dan Gambardello, the founder of Crypto Capital Venture, a recruiting firm for crypto startups, has critiqued the U.S. Securities and Exchange Commission (SEC) for its inconsistent arguments during court hearings against leading crypto exchanges Binance and Coinbase. The SEC sued both companies last year, alleging that they were operating as unregistered securities exchanges.
