Rashawn Russell, a former investment banker, was sentenced on Thursday to 41 months in prison for a cryptocurrency fraud scheme that caused $1.5 million in investor losses. From November 2020 to August 2022, Russell deceived multiple victims by promising high returns from cryptocurrency investments, only to misappropriate their funds for personal use, gambling, and repaying other investors. He…
In May, cybercriminals were less successful in their attacks on decentralized defi platforms, resulting in losses attributed to hacks and fraud incidents amounting to approximately $52.4 million. During the same period last year, digital assets worth $59.3 million were lost…
A federal judge has ordered the U.S. Securities and Exchange Commission (SEC) to pay over $1.8 million in its case against the crypto firm Digital Licensing, also known as Debt Box. The penalty resulted from the SEC’s bad faith conduct in obtaining and defending an ex…
TRUMP Coin Reaches All-Time High as Trump-Themed Cryptos See Major Gains – Market Updates Bitcoin News
May 31, 2024
The presidential meme coin fervor persists, with the token maga (TRUMP) hitting an all-time high of $15.45 on Wednesday. This surge elevated the value of Donald Trump’s TRUMP coins to $8.06 million on May 29. Additionally, various Trump-related crypto assets are emerging from the woodwork, including one leveraging Bitcoin’s Runes protocol for minting.
Trump-Themed Meme Tokens Rise…
South Korea’s regulations prohibiting corporations from opening virtual asset exchange accounts are making it impossible for local universities to liquidate their large cryptocurrency donations. Financial authorities cite money laundering concerns as the reason for…
Ark CEO Cathie Wood Talks Bitcoin With El Salvador's President — Applauds His Vision for BTC Hub
May 30, 2024
Cathie Wood, CEO of asset management firm Ark Invest, recently met with El Salvador’s President Nayib Bukele and discussed bitcoin. She praised his progressive approach to economic and educational reforms. “President Bukele’s determination to transform El Salvador into…
Hong Kong's Grace Period for Crypto Exchanges Ending — Trading Platforms Must Obtain License by June 1
May 30, 2024
The Hong Kong Securities and Futures Commission (SFC) has issued a reminder that crypto trading platforms must obtain a license to operate in Hong Kong before the grace period ends on June 1. The regulator warned that operating without a license is a criminal offense and will enforce compliance. Investors are advised to only trade on SFC-licensed crypto trading platforms.
Regulatory Deadline…
The Texas State Securities Board has issued an Emergency Cease and Desist Order against Arkbit Capital and its affiliates, Arkbit Capital Holdings, ABC Holdings LLC, and ABC Mining. These companies were found operating a fraudulent MLM cryptocurrency investment scheme.
Ethereum has experienced a significant increase since the U.S. Securities and Exchange Commission (SEC) approved a group of spot ether exchange-traded funds (ETFs). This week, ether reached a high of $3,980 per coin, which is approximately 18.4% below its all-time high. Amid…
Sebastian Serrano, CEO of Ripio, one of the largest exchanges in Latam, stated that Brazilian companies were already harnessing cryptocurrency to pay their Chinese suppliers. In an interview, Serrano asserted that Latam countries harnessed crypto in different ways and that Argentine companies are using cryptocurrency to protect from crippling inflation numbers.
Ripio CEO Sebastian Serrano: Chinese…
