Crypto News
Australia Prepares for a Wave of Spot-Bitcoin ETF Launches: Bloomberg
Australia is poised to witness a surge in spot-Bitcoin exchange-traded fund (ETF) launches, following in the footsteps of the United States and Hong Kong. According to Bloomberg, major issuers such as Van Eck Associates Corp. and BetaShares Holdings Pty are lining up for listings on the Australian Securities Exchange (ASX). Key points: Also read: Crypto …...
Crypto Hacking Group Lazarus Impersonates Fenbushi Capital Exec: Report
North Korea-backed cyber-hacker group, Lazarus, has been actively targeting LinkedIn users by impersonating a senior executive of Chinese blockchain asset management firm Fenbushi Capital, according to a recent report by security firm SlowMist. The hacker group’s latest social engineering tactics involve creating fake LinkedIn profiles to gain the trust of potential victims before launching phishing …...
Convicted Crypto Trader in Mango Markets Heist Faces Child Pornography Charges
Avraham Eisenberg, the crypto trader recently found guilty of the $110 million heist from the decentralized finance (DeFi) protocol Mango Markets, now faces additional charges related to the possession of child pornography. The new allegations detailed in court documents claim that some of the images in Eisenberg’s possession depicted prepubescent minors under the age of …...
New UK Legislation Enables Seizure and Destruction of Crypto Linked to Crime
The United Kingdom (UK) has introduced new legislation granting enhanced powers to the National Crime Agency (NCA) and police to seize, freeze, and destroy cryptocurrencies used for illicit activities. According to the press release, the proceeds came into force today. The updated proceeds aim to bolster the ability of UK law enforcement to effectively investigate, …...
Warren Raises Alarm on Crypto’s Role in Child Sexual Abuse in Letter to DOJ
Senators Elizabeth Warren and Bill Cassidy have expressed their concerns about the increasing use of crypto in the illegal trade of child sexual abuse material (CSAM). The duo shared their concerns in a joint letter to U.S. Attorney General Merrick Garland and Secretary of Homeland Security Alejandro Mayorkas. In addition, the senators are calling on …...
SEC Files Fraud Charges Against Texas-Based Geosyn Mining and Its Co-Founders
The U.S. Securities and Exchange Commission (SEC) has announced the filing of charges against Geosyn Mining, LLC, a Texas-based crypto asset mining and hosting company, and its co-founders, Caleb Ward (CEO) and Jeremy McNutt (former COO). The charges are based on allegedly engaging in an unregistered and fraudulent securities offering. The complaint, filed in the …...
Shiba Inu Team Makes Major Shibarium Announcement
Shiba Inu, the second-largest meme coin, has announced a significant upgrade to its Shibarium network. The upcoming hard fork is set to go live on May 2nd. The team stated in a tweet thread that the upcoming changes aim to improve the user experience, empower the developer and innovator communities, and unlock the platform’s next-level …...
Consensys Files Lawsuit Against SEC, Seeks Clarity on Ethereum’s Status
Consensys, a prominent backer of the Ethereum blockchain, has filed a lawsuit against the SEC in a Texas federal court. On Thursday, Consensys initiated legal action to preempt an impending SEC lawsuit over features of its popular MetaMask wallet. Additionally, the lawsuit seeks a court ruling on the issue of whether Ethereum (ETH) should be …...
CryptoPunk NFT 635 Sells for $12.41 Million (4,000 ETH)
CryptoPunk #635, one of the rare “AlienPunks” from the iconic CryptoPunks NFT collection, has sold for 4,000 ETH. The sale was worth $12.41 million at the time of the sale. The transaction, which took place on April 25, marks the sixth-most expensive CryptoPunk sale to date, according to the CryptoPunks sales platform. Key points: The …...
Former Binance CEO Changpeng Zhao Pens Apology Letter to U.S. Judge
In a letter addressed to U.S. District Judge Richard A. Jones of the Western District of Washington, Changpeng Zhao, the former CEO of Binance apologized for his “poor decisions” and accepted full responsibility for his actions. The letter, filed on Tuesday, comes as Zhao awaits sentencing for his role in enabling Binance to violate federal …...
Tether to Freeze Wallets Linked to Sanctions Evasion in Venezuela’s Oil Industry
Tether, the issuer of stablecoin USDT, has recently announced that it will freeze wallets that are using the digital currency to circumvent sanctions on oil exports in Venezuela. The decision comes in response to a report revealing that Venezuela’s state-run oil company, PDVSA, has increased its use of Tether following the U.S. government’s reimposition of …...
Central Bank of Nigeria To Freeze Bank Accounts Linked With Binance, Bybit, KuCoin
The Central Bank of Nigeria (CBN) has issued a new directive requiring all banks and financial institutions in the country to identify individuals or entities engaging in transactions with cryptocurrency exchanges. The circular also requires the bank to place their accounts under a Post No Debit (PND) instruction for a period of six months.  Key …...
Binance Founder Changpeng Zhao Should Face 3-Year Prison Sentence: DOJ
The U.S. Department of Justice (DOJ) has recommended that Changpeng “CZ” Zhao, the founder and former CEO of Binance, spend three years in prison. The DOJ recommended a 3-year prison sentence for Zhao due to his role in enabling the cryptocurrency exchange to violate federal sanctions and money laundering laws. In a sentencing memo filed …...
Crypto Industry Groups Sue SEC Over Expanded ‘Dealer’ Definition
The U.S. Securities and Exchange Commission (SEC) is now the target of a lawsuit brought by the Texas Crypto Freedom Alliance and the Blockchain Association. The lawsuit alleges that the agency’s recently expanded definition of a “dealer” has overreached and could potentially capture individuals who are merely trading in cryptocurrencies. Key points: According to the …...
Crypto.com Faces Money Laundering Inspection, Delay South Korean Launch
The Crypto.com exchange is facing an urgent on-site inspection by South Korean financial authorities regarding potential money laundering activities. According to a report by local news outlet Segye, the Financial Intelligence Unit (FIU) initiated the inspection on April 23rd, just six days before the planned launch of Crypto.com’s domestic service in the country. Key points: …...
Venezuela State Oil Company Turns to Tether (USDT) Amid U.S. Sanctions
Venezuela’s state-run oil company, PDVSA, is ramping up its use of digital currencies, particularly Tether (USDT), for crude and fuel exports. This comes after the United States reimposed oil sanctions on the country. According to Reuters, the move is aimed at reducing the risk of sale proceeds being frozen in foreign bank accounts due to …...
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 …...
