News

BTC-e Co-founder Pleads Guilty To Laundering $9 Billion

Alexander Vinnik, the co-founder of now-defunct cryptocurrency exchange BTC-e, has pleaded guilty to charges related to operating the platform and enabling billions in criminal money laundering activities.

Yagyesh Jaiswal

Vinnik has finally admitted guilt in the BTC-e criminal conspiracy case, which saw the exchange process over $9 billion for cybercriminals between 2011 and 2017 without any money laundering controls. He now awaits sentencing as the US DOJ continues its efforts to curb illicit cryptocurrency behavior.

Coinbase Sued Again Over Securities Allegations

A new class action lawsuit has been filed against Coinbase alleging the crypto exchange knowingly sold unregistered securities violating state laws.

Yagyesh Jaiswal

This latest lawsuit claims several tokens sold on Coinbase such as SOL, MATIC, NEAR and others are securities, meaning Coinbase operated as an unlicensed broker-dealer. It remains to be seen how the court will view these allegations.

Sen. Warren Highlights Concerns Over Iran's Crypto Mining

U.S. Senator Elizabeth Warren raises alarm over Iran's crypto mining operations, highlighting potential for sanctions evasion and implications for global security.

Yagyesh Jaiswal

MicroStrategy introduces a decentralized identity solution on Bitcoin's network, sparking debate among Bitcoin proponents over the use of Ordinals for data storage.

Coinbase Q1 Revenue Skyrockets with Bitcoin Rally, New Standards

Coinbase surpasses market expectations with a notable Q1 revenue surge, driven by Bitcoin's rally and new accounting standards, despite facing regulatory challenges.

Yagyesh Jaiswal

Coinbase surpasses expectations with a Q1 revenue of $1.64 billion amid a Bitcoin rally, driven by a significant mark-to-market gain and tripled transaction revenue.

Dutch Authorities Crackdown on ZKasino Scam, Seize $12.2M

Dutch police have arrested a 26-year-old man suspected of involvement in the $33 million ZKasino online gambling platform fraud and seized over $12 million in crypto assets, real estate, and luxury vehicles.

Yagyesh Jaiswal

This article details the first arrest in the ZKasino investigation and the extensive assets recovered by authorities, demonstrating their commitment to pursuing fraudsters and recovering funds for victims of digital asset scams.

Nigerian Fintechs Crack Down on Crypto Trade

Major Nigerian fintech platforms have notified customers that their accounts may be blocked if they are found engaging in cryptocurrency transactions, going against the Central Bank of Nigeria's recent move to lift the crypto ban.

Yagyesh Jaiswal

As cryptocurrency adoption grows in Nigeria despite regulatory hurdles, fintech companies are playing it safe by complying with the fluctuating directives from the central bank to avoid sanctions, leaving crypto users in a difficult position amid the ongoing lack of clarity.

CZ Reflects on Crypto’s Compliance Era Post-Sentencing

Following his recent sentencing, former Binance CEO Changpeng Zhao emphasizes the critical importance of compliance in the cryptocurrency industry's new phase.

Yagyesh Jaiswal

Changpeng Zhao, the former CEO of Binance, stresses the importance of compliance in the cryptocurrency sector following his sentencing for compliance violations in the US.

MicroStrategy's Bitcoin ID Solution Sparks Purist Debate

MicroStrategy introduces a decentralized identity solution, MicroStrategy Orange, leveraging Ordinals on the Bitcoin network, prompting debate among Bitcoin enthusiasts over network integrity.

Yagyesh Jaiswal

MicroStrategy announces a new decentralized identity solution, MicroStrategy Orange, using Bitcoin's Ordinal inscriptions, facing criticism from Bitcoin core developers for potentially harming the network's functionality.

Surging Crypto ETFs Spark Surprise Sovereign Wealth Interest

Leading sovereign wealth funds from Kuwait, Saudi Arabia, and other nations have initiated conversations with BlackRock about potentially investing in Bitcoin and crypto, reflecting growing institutional interest.

Yagyesh Jaiswal

As Bitcoin rebounds from recent volatility and Wall Street spot ETFs drive a surge in demand, some of the world's largest sovereign funds are taking a fresh look at cryptocurrencies and their potential role in diversified portfolios. BlackRock's discussions indicate big players may enter the market within months.

Shiba Inu: Layer-2 Solution Ignites Surge In Transaction Fees

Shiba Inu's layer-2 blockchain Shibarium witnessed a massive 500% spike in daily transaction fees as network usage exploded, underscoring its potential to drive the adoption of the meme coin.

Yagyesh Jaiswal

While Shibarium's ability to attract long-term developer interest will determine SHIB's future, its early transaction surge shows that community enthusiasm remains strong, providing hope that the network can evolve meaningfully from its beginnings as a lighthearted meme token.

Roger Ver Detained in Spain for US Tax Fraud

Cryptocurrency figure Roger Ver was arrested in Spain due to charges of mail fraud, tax evasion, and filing false tax returns by the US DOJ, related to unreported Bitcoin sales.

Yagyesh Jaiswal

Roger Ver, a notable figure in the cryptocurrency industry, faces extradition to the US following his arrest in Spain for alleged tax fraud involving $240 million in unreported Bitcoin sales.

Bitcoin Plummets Below $58k Ahead of the Key FOMC Meeting

Bitcoin dropped sharply ahead of the US Federal Reserve's policy decision, falling over 9% in a day to below $58,000 and 22% from its record high in anticipation of rate hikes.

Yagyesh Jaiswal

With the looming FOMC meeting and expectations of another rate hike, Bitcoin price plunged over 9% in a single day falling below the crucial $58k level. Traders seem anxious about high rates dampening economic growth and its impact on speculative crypto assets.

Binance Founder CZ Gets 4 Months Prison for Compliance Failures

Binance CEO Changpeng Zhao has been given a 4-month prison sentence for failing to implement proper anti-money laundering controls at the crypto exchange.

Yagyesh Jaiswal

While CZ took responsibility for Binance's compliance shortcomings, the sentence was still much lighter than prosecutors sought. It demonstrates regulators' willingness to work with industry so long as efforts are made to remedy issues.

MicroStrategy Adds Over $7.8 Billion in BTC to Reserves

Software company MicroStrategy made additional Bitcoin purchases totaling $1.65 billion during the first quarter, growing its total BTC holdings to over 214,000 coins.

Yagyesh Jaiswal

Despite financial pressures, MicroStrategy remains committed to its Bitcoin strategy and sees potential increases in institutional crypto demand following ETF approvals. The company now holds over 1% of the total Bitcoin supply.

SEC vs. DeFi: Uniswap's Battle and Future Regulations

Uniswap faces SEC scrutiny over securities laws, highlighting broader regulatory challenges and security issues within the DeFi sector. Here's what lies ahead for decentralized finance amid this clash.

Yagyesh Jaiswal

Uniswap is under SEC scrutiny for potential securities law violations, spotlighting the regulatory battles DeFi faces alongside significant security concerns. This situation underscores the need for DeFi to address vulnerabilities and regulatory compliance.

Arthur Hayes Predicts Surge from Treasury Moves

Arthur Hayes discusses how the U.S. Treasury's upcoming policy decisions could significantly boost market liquidity, impacting both the cryptocurrency and stock markets.

Yagyesh Jaiswal

Arthur Hayes anticipates that the U.S. Treasury's impending policy actions could inject substantial liquidity into the markets, potentially driving significant rallies in both the cryptocurrency and stock sectors.

DeFi Network io.net Battles Spoofing Attack

The CEO of the decentralised computing platform io.net details a recent spoofing attack on the Solana-based network and the steps taken to resolve the issues and strengthen security.

Yagyesh Jaiswal

In a comprehensive post on social media, io.net CEO Ahmad Shadid gave a play-by-play of a recent spoofing attack that saw fake GPUs connect to the network. While the incident caused short-term problems, Shadid assured users that the network was operating normally again and that development plans remain on track.

Franklin Templeton Tokens $380M Gov Fund on Polygon & Stellar

Franklin Templeton launches a tokenized $380 million U.S. government money fund on Polygon and Stellar, paving the way for enhanced liquidity and peer-to-peer fund transfers.

Yagyesh Jaiswal

Franklin Templeton has tokenized its $380 million U.S. government money fund, introducing BENJI tokens on the Polygon and Stellar blockchains to facilitate direct, peer-to-peer transactions and expand investor access.

FBI Warns Against Unregistered Crypto Services

The FBI advises U.S. citizens to exercise caution when using unregistered cryptocurrency money transmitting services, citing potential financial disruptions and losses amid enforcement efforts.

Yagyesh Jaiswal

The FBI cautions U.S. residents against utilizing unregistered cryptocurrency services for asset transactions, highlighting the risk of financial losses due to enforcement actions.

Iconic 'Buy Bitcoin' Sign Sells for $1M at Landmark Auction

The sign famously held up during Janet Yellen's 2017 Congressional testimony has been sold at auction for 16 BTC, raising over $1 million for Bitcoin layer-2 startup Tirrel Corp.

Yagyesh Jaiswal

A staple of Bitcoin's early viral growth, the 'Buy Bitcoin' sign has found a new home after generating significant funds for further development of the lightning network. Its prominent placement behind a top policymaker helped shine a light on cryptocurrency in its formative years.

Samourai Wallet Closed, Founders Held for Money Laundering

Samourai Wallet, a privacy-focused Bitcoin wallet, has been shut down, and its founders arrested on charges of facilitating money laundering, marking a significant operation by international law enforcement.

Yagyesh Jaiswal

The US Department of Justice, in collaboration with international agencies, has shut down Samourai Wallet and arrested its founders for allegedly facilitating over $2 billion in illegal Bitcoin transactions, highlighting ongoing regulatory actions against crypto-related money laundering.

Morgan Stanley Brokers to Push Bitcoin ETFs

Morgan Stanley is poised to allow its brokers to actively recommend Bitcoin ETFs to clients, a move that could significantly boost interest and accessibility in cryptocurrency investments.

Yagyesh Jaiswal

Morgan Stanley is considering a policy change that would enable its brokers to recommend Bitcoin ETFs to clients, potentially rejuvenating interest and expanding access to cryptocurrency investments within its substantial network.

Europe Tightens Crypto Rules to Curb Illicit Flows

The European Union has enacted new regulations that increase oversight of cryptocurrency firms and require enhanced customer due diligence to fight money laundering better.

Yagyesh Jaiswal

To curb cryptocurrency's illicit uses, the EU approved stringent rules that oblige crypto companies like exchanges to vet clients and thoroughly report suspicious activity. The measures aim to promote transparency and protect the financial system while allowing innovation.

Grayscale & BlackRock Face SEC Delays on Ethereum ETFs

Grayscale Investments and BlackRock have updated their applications for spot Ethereum ETFs as the SEC's decision approaches in May, amidst growing skepticism about approval.

Yagyesh Jaiswal

Grayscale and BlackRock have revised their Ethereum ETF applications, preparing for the SEC's decision expected in May, amid industry-wide anticipation and a generally pessimistic outlook on approval.

Binance Founder CZ Faces 3 Years Prison for AML Violations

Binance CEO Changpeng Zhao pled guilty to charges related to weak anti-money laundering controls and now faces a recommended 3-year prison sentence from US prosecutors.

Yagyesh Jaiswal

This landmark case could set legal precedents for greater cryptocurrency regulation by US authorities going forward.