Salame helped collapse the crypto exchange that stole $10 billion in user funds US federal prosecutors are seeking a sentence of five to seven years in prison for former FTX executive Ryan Salame, the alleged co-conspirator with FTX co-founder Sam “SBF” Bankman-Fried, who pleaded guilty to crimes that helped cause the collapse of the bankrupt cryptocurrency exchange. A sentencing memo
An internal security issue allegedly led to someone draining the funds The price of the Gala Games (GALA) token plunged on Monday after a hacker minted and swiped 5 billion tokens utilizing the Gala smart contract. The tokens were valued at about $240 million at the time of the incident, causing the price to fall 20% in under
The duo is allegedly part of an international crime gang that used crypto to launder their funds The US Department of Justice has detained two people blamed for orchestrating a money laundering scheme that funneled over $73 million through US financial institutions and eventually converted it into Tether USDT tokens. Daren Li was taken into custody at Hartsfield-Jackson International
Lawmakers approve legislation that overturns a recent SEC decision on how banks work with crypto A joint resolution recently passed by the US Senate calls for the US Securities and Exchange Commission (SEC) to overturn restrictions on financial institutions conducting business with cryptocurrency firms. US Senators passed H.J. Res. 109 by a 60-38 vote on
The solution is another way decentralized finance is gaining momentum Liquid staking protocol pStAKE Finance has disclosed its staking solution for Bitcoin in the latest evolution of Bitcoin-based decentralized finance (DeFi). pSTAKE Finance’s Binance Labs-backed solution, constructed using Babylon’s Bitcoin staking protocol, seeks to simplify the Bitcoin staking process and offer more earnings opportunities for Bitcoin investors.
The firm’s outgoing boss was opposed to cryptocurrency, but his replacement could change the game Former Blackrock executive Salim Ramji has been announced as the new CEO of asset management firm Vanguard. Ramji was the Global Head of iShares and Index Investments at Blackrock and a member of the firm’s Global Executive Committee. Ramji supervised BlackRock’s recent launch
The cryptocurrency exchange hasn’t yet explained why the platform suddenly went down The Coinbase cryptocurrency exchange suffered a major outage on May 14. No reason has been given for the system-wide shutdown that lasted over three hours, and many users are still unable to transfer funds on the exchange. Coinbase said it’s continuing its investigation into the incident. Coinbase announced
Binance will be closely monitored to ensure it complies with financial regulations The Department of Justice (DOJ) has mandated that Binance, the world’s largest cryptocurrency exchange, remain under regulatory review by the Forensic Risk Alliance (FRA) for a period of three years. This directive follows a series of investigations that revealed Binance’s involvement in anti-money
BlockFi will completely shut down, but users could be able to make claims through Coinbase BlockFi recently announced a new partnership with Coinbase to allow customers to make withdrawals from their accounts. The bankrupt crypto lender is in the process of shutting down its online platform, which will be completed in May. BlockFi was forced to file for bankruptcy
The Blockchain Integrity Act would prevent all crypto mixers for two years Cryptocurrency mixers, services that anonymize crypto transactions by pooling funds and then distributing them to different addresses, could soon be a thing of the past in the US. A recently introduced bill, the Blockchain Integrity Act, proposes a two-year ban on these services,
The long-running legal dispute is entering its final lap Ripple Labs and the US Securities and Exchange Commission (SEC) recently moved forward in their ongoing legal dispute. The SEC has recently filed its final reply in the remedy stage, marking a critical milestone in the case’s progression. The lawsuit centers on the SEC’s allegations that
The exchange gives UK users a new look at the cryptocurrency markets Global neobank and Fintech firm Revolut recently entered the cryptocurrency space after introducing their new crypto trading platform to retail consumers in the UK. The company announced the launch of its Revolut X platform in a press release on May 7. This platform
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