Crypto News
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 …...
Thailand SEC to Block Access to Unauthorized Crypto Service Providers
The Securities and Exchange Commission (SEC) of Thailand has announced its collaboration with the Ministry of Digital Economy and Society (DE) and other related agencies. The collaboration is part of the plan to block unauthorized access to digital asset service providers’ platforms. This move aims to increase the efficiency of law enforcement and prevent criminals …...
Solana Meme Coin Presales Raise Over $26M, 12 Projects Completely Abandoned
ZachXBT, a crypto sleuth, recently revealed that 12 Solana meme coin projects have collectively raised more than 180,650 SOL (approximately $26.7 million) through presale events. However, he emphasized that the founders abandoned these coins within a month of their launch. Key points: According to the data shared by ZachXBT, the presale that raised the highest …...
Nigerian Court Adjourns Binance Tax Evasion Trial to May 17
A Nigerian court has adjourned the tax evasion trial against cryptocurrency exchange Binance and two of its executives until May 17. BusinessDay, a local news platform, reports that the decision followed a procedural standoff because the exchange has not yet received formal charges. The absence of one executive and the ongoing detention of another have …...
US Jury Finds Crypto Trader Guilty in $110M Mango Markets Manipulation
A federal jury in New York has found Avraham Eisenberg, a 28-year-old crypto trader, guilty of commodities fraud, commodities manipulation, and wire fraud for his actions on the decentralized finance platform Mango Markets. According to Bloomberg, the verdict, delivered on Thursday, marks the first time a US trial involving criminal charges tied to cryptocurrency manipulation …...
Tether Expands Beyond Stablecoins, Launches Four New Business Divisions
Stablecoin issuer Tether has announced a significant expansion beyond its well-known USDT stablecoin offering. To deliver a range of infrastructure solutions, Tether has established four distinct business divisions: Tether Data, Tether Finance, Tether Power, and Tether Edu. Key points: This shift in Tether’s approach is part of its effort to provide sustainable solutions that adapt …...
Binance Set to Re-Enter India After Paying $2 Million Penalty: Report
Binance, the world’s largest cryptocurrency exchange, is reportedly preparing to make a comeback in India after being banned by the government in January. According to a report by the Economic Times of India, the exchange is set to pay a penalty of approximately $2 million. Additionally, sources familiar with the matter stated that the exchange …...
