Binance, a crypto exchange, has recently joined forces with the Royal Thai Police in an investigation that led to the arrest of several suspects behind fraudulent activities. The investigation was assisted by Binance, the Cyber Crime Investigation Bureau (CCIB), and the US Homeland Security Investigation (HIS). The law enforcement agencies and the crypto exchange managed […]
Sam Bankman-Fried, the former CEO of cryptocurrency exchange FTX, is facing a criminal trial in the United States Justice Department. During jury selection on Oct. 3, Assistant U.S. Attorney Danielle Sassoon revealed that former Alameda Research CEO Caroline Ellison, FTX co-founder Gary Wang, former FTX engineering director Nishad Singh, and former FTX chief operating officer […]
Alex Mashinsky, the former CEO of Celsius, will stand trial in September 2024 for multiple counts of fraud, including wire fraud, securities fraud, commodities fraud, and conspiracy to manipulate the value of the company’s native crypto token, CEL. His lawyers will make a case based on the ambiguity surrounding the legal status of cryptocurrencies. The […]
Celsius, a troubled cryptocurrency network, is currently in court seeking approval to initiate customer repayments by year-end and gain complete approval for its reorganization plan. The repayment to creditors will involve a combination of $2.03 billion in Bitcoin and Ethereum and shares in the newly established company following the reorganization. The new company, NewCo, will […]
Alex Mashinsky, former boss of the now-defunct crypto lending firm Celsius, is set to begin his criminal fraud trial on September 17, 2024. US District Judge John Koeltl confirmed the news during a hearing on Tuesday, adding that there will be three pretrial conferences in March, July, and September. Mashinsky is currently free on $40 […]
Jan van Eck, CEO of investment firm VanEck, and Matt Hougan, Chief Investment Officer of crypto investment firm Bitwise, both expressed optimism in an interview with CNBC yesterday that a spot bitcoin ETF could be approved by the Securities and Exchange Commission (SEC) as early as 2024. This follows a key legal victory last month […]
Binance, a global crypto exchange, announced on Oct. 3 that it will end support for Binance USD (BUSD) borrowing and staking positions by Oct. 25, 2023. The exchange has urged its users to convert their BUSD holdings to First Digital USD (FDUSD) as part of the gradual phasing out of support for the stablecoin. This […]
Binance, one of the largest crypto exchanges, has announced that it will cease borrowing and lending services for its native stablecoin Binance USD (BUSD) by October 25. This follows an earlier announcement in August that all services related to BUSD would be terminated by 2024. Currently, users can lend their BUSD on Binance at an […]
Binance, the Cyber Crime Investigation Bureau (CCIB) of the Royal Thai Police, and the United States Homeland Security Investigation (HSI) have collaborated to take down a crime ring responsible for conducting a pig butchering crypto scam in Thailand. The operation, code-named “Trust No One,” led to the arrest of five alleged key syndicate members and […]
Akshay Naheta, a former MIT alumnus and SoftBank executive, has launched a Dirham-backed stablecoin called DRAM. The Abu Dhabi-based company has been developing the technology since October 2022 and the Ethereum ERC-20 token is issued by DRAM Trust, a Hong Kong law governed trust. The independent trustee responsible for approving token mints and burns is […]
