Coinbase recently filed a closing brief with the US Court of Appeals for the Third Circuit, challenging the SEC’s denial of its rulemaking petition. The crux of the case revolves around a single sentence in the SEC’s order that “disagreed” with Coinbase’s assertion that current SEC rules are unworkable for digital asset firms. This lack
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Former FTX co-CEO Ryan Salame has been sentenced to 90 months in prison after pleading guilty to conspiring to make illegal political contributions and defraud the Federal Election Commission. The sentence was handed down by US District Judge Lewis A. Kaplan, following Salame’s involvement in running an unlicensed money-transmitting business through FTX Digital Markets, the
The European Securities and Markets Authority (ESMA) has recently raised concerns regarding Maximum Extractable Value (MEV) as a form of illegal market abuse in the context of the proposed technical standards for the Markets in Crypto-Assets (MiCA) regulation. Patrick Hansen, a well-known figure in the crypto regulation space, has drawn attention to this issue on
The recent arrest of a Taiwanese national, Rui-Siang Lin, has revealed a disturbing truth about the dark web drug bazaar known as Incognito Market. The platform, responsible for transacting over $100 million in cryptocurrency, primarily through the sale of illegal narcotics like fentanyl, has been operating for the past four years under the alias “Pharoah.”
Coinbase has recently accused the SEC of attempting to dodge the Howey test in a motion for an interlocutory appeal filed in the US District Court for the Southern District of New York. The exchange claims that the SEC is sidestepping the question of whether a digital asset transaction lacking post-sale obligations can be deemed
Recently, Bybit crypto exchange CEO, Ben Zhou, has refuted claims circulating on social media regarding the alleged insolvency of the exchange. These rumors started to surface this week on social media platforms, with speculations suggesting a bug in a proof-of-reserves graph from Arkham Intelligence may have initiated the gossip. Zhou was quick to dismiss these
Gary Gensler, the Chairman of the US Securities and Exchange Commission (SEC), recently expressed strong opposition to the Financial Innovation and Technology for the 21st Century (FIT21) Act. This act has been hailed for providing regulatory clarity to the crypto industry, but Gensler argues that it would actually weaken consumer protections in the market. The
Recently, Gala Game, a Web3 gaming project, fell victim to an exploitation incident where an unknown attacker, posing as a compromised admin address, managed to mint 5 Billion GALA tokens, valued at over $200 million. This breach led to the unauthorized sale of 600 million tokens through Uniswap, amounting to $29 million at the time
The recent arrest of Ontario’s self-proclaimed ‘Crypto King,’ Aiden Pleterski, has sent shockwaves throughout the region. Pleterski, along with his associate Colin Murphy, is facing serious charges of fraud and money laundering in connection to an alleged Ponzi scheme that defrauded victims of approximately $30 million. This case has been under investigation for over 16
France’s financial regulator, the Autorité des Marchés Financiers (AMF), recently issued a warning to French crypto investors regarding the digital asset trading platform Bybit. The platform, despite being one of the largest in terms of trading volume, is not registered in France and is therefore not authorized to provide its services to residents in the