Accounting professor Peter Easton provided testimony in the trial of former FTX CEO Sam Bankman-Fried, shedding light on the commingling of funds between FTX and Alameda Research. Easton’s analysis revealed that Alameda used funds from FTX customers to invest in various ventures, resulting in a negative balance of $11.3 billion with FTX in June 2022. […]
In a recent development, Binance, the world’s largest cryptocurrency exchange, is facing serious allegations of “aggravated money laundering” in France. French prosecutors initiated an investigation into Binance in June 2023, looking into allegations of money laundering and the operation of an unauthorized exchange. The raid occurred just days after Binance France President, David Prinçay, stated […]
The Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury has imposed sanctions on a cryptocurrency operator allegedly linked to the terrorist group Hamas. The move comes after Hamas carried out an attack on Israel, resulting in multiple casualties. OFAC added a Gaza-based virtual currency exchange and its operator to […]
VALR, a South African crypto platform, has announced a strategic partnership with Visa to issue Visa cards to its crypto customers. The partnership aims to deliver innovative digital payment solutions to users in Africa and global markets. VALR has raised over $50 million and received initial regulatory approval from Dubai’s Virtual Assets Regulatory Authority. The […]
Binance.US, the American branch of cryptocurrency giant Binance, is seeking permission to file sensitive documents under seal in response to the ongoing lawsuit by the U.S. Securities and Exchange Commission (SEC). The company argues that the SEC’s demands for document discovery and depositions are unreasonable. Filing under seal allows Binance.US to present confidential information in […]
U.S. cryptocurrency exchange Coinbase has stated that the majority of terrorist funding still relies on traditional financial systems, such as cash, rather than cryptocurrencies. This comes in response to claims that the crypto industry facilitates transactions for malicious players. While some crypto stakeholders have highlighted their efforts to combat the illegal use of crypto for […]
ARK Invest CEO Cathie Wood believes that the U.S. Securities and Exchange Commission (SEC) is showing a change in attitude towards the firm’s application for a Bitcoin exchange-traded fund (ETF). Wood states that there has been a positive exchange of information between the SEC and ARK Invest’s ETF partner, 21Shares. The SEC has requested information […]
Binance’s Chief Marketing Officer (CMO) recently praised the ability of cryptocurrencies to give people control over their finances. However, the CMO also expressed concerns about the state of public trust in the crypto industry. Binance, one of the largest cryptocurrency exchanges in the United States, is facing the challenge of navigating growth, building trust, and […]
Ethereum co-founder Vitalik Buterin has denied recent reports suggesting that he has been selling Ethereum (ETH) and other cryptocurrencies for personal gain. In a statement, Buterin clarified that the recent transfers from his wallets were primarily donations made to charitable organizations and projects. He emphasized that he hasn’t sold ETH for personal gain since 2018. […]
Ethereum founder Vitalik Buterin has addressed concerns regarding recent transfers of digital assets from his crypto wallet. Buterin explained that the large-scale ETH transactions were not sold by him but were mostly donations to charity organizations and other projects. He emphasized that he had not sold ETH for personal profits since 2018. Buterin is known […]
