Cryptocurrency
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Winklevoss-owned crypto firm hit by lawsuit alleging it defrauded investors of $1 billion
Gemini, a cryptocurrency exchange helmed by the infamous Winklevoss twins, just got hit with a lawsuit alleging that it defrauded investors. The suit was brought forth by New York Attorney General Letitia James, the same AG currently prosecuting former president Donald Trump.
Dropbox ditches unlimited storage in its Advanced plan because of crypto goons
Dropbox is killing off unlimited storage in its business-focused Advanced plan following a surge in shady activity. It wrote in a blog post that as other services made similar changes to limit storage capacity, it has seen an increase in people using Advanced plans "not to run a business or organization, but instead for purposes like crypto and Chia mining, unrelated individuals pooling storage for personal use cases or even instances of reselling storage."
DOJ charges Tornado Cash co-founders for laundering over $1 billion in crypto
A North Korean cybercrime organization allegedly funneled $455 million through the crypto mixer.
PayPal introduces its own stablecoin that's pegged to the US dollar
Almost three years after PayPal started supporting cryptocurrency for all US accounts, the fintech company has launched its own stablecoin that's pegged on the US collar.
Coinbase wants its SEC lawsuit dismissed, arguing it doesn't deal in securities
Coinbase has filed a motion to dismiss a Securities and Exchange Commission lawsuit. It argues that cryptocurrencies that are sold on its platform are more like commodities like baseball cards than securities, and that the SEC doesn't have any authority over its operations.
GameStop’s NFT wallet will shut down in November
GameStop is pulling the plug on its crypto locker after only a year. An alert posted this week to the company’s website (via Game Developer) says GameStop Wallet will be no more after November 1st. The retailer says its decision was “due to the regulatory uncertainty of the crypto space.”
Bitfinex hackers who stole billions in cryptocurrency plead guilty
Ilya Lichtenstein and Heather Morgan, the couple who were arrested last year for the massive 2016 Bitfinex hack involving billions of dollars of cryptocurrency, have pleaded guilty in court.
Binance reaches deal with SEC to avoid US asset freeze
The SEC and Binance have reached an agreement that will allow the cryptocurrency exchange to continue operating in the US until a lawsuit filed by the regulator earlier this month is resolved.
SEC sues Coinbase over alleged violations of securities laws
The SEC has taken aim at another major cryptocurrency company. It has accused Coinbase of violating securities laws.
Binance reportedly mixed customer funds with company revenue at a US bank
Cryptocurrency exchange Binance reportedly mixed its revenue with customer funds at a US bank in 2020 and 2021. Under US financial regulations, customer money must be kept separate from corporate funds.
Hitting the Books: The abrupt and ignoble downfall of Sam Bankman-Fried
In SBF: How the FTX Bankruptcy Unwound Crypto’s Very Bad Good Guy, veteran crypto reporter Brady Dale provides a scintillating and clarifying narrative of the entire FTX/Alameda Ventures saga.
Binance leaves Canada due to stricter crypto rules
Canadians will no longer have access to the largest cryptocurrency exchange in the world.
Bank of Canada asks for public feedback about a national digital currency
The Bank of Canada wants the public’s opinions on a potential digital Canadian dollar. Although the country’s central bank says a national digital currency isn’t yet needed, it wants to remain flexible and ready if that ever changes.
Crypto giant Binance is reportedly facing US probe for violating Russian sanctions
According to Bloomberg, the agency is looking into whether the cryptocurrency exchange allowed Russian customers to move money as a way to go around US sanctions on the country's financial institutions.
New York State AG proposes broad regulations for the cryptocurrency industry
New York State's Attorney General has proposed a measure that would regulate crypto to prevent fraud and protect traders.
White House proposes 30 percent tax on electricity used for crypto mining
The Biden administration wants to impose a 30 percent tax on the electricity used by cryptocurrency mining operations, and it has included the proposal in its budget for the fiscal year of 2024.
SEC charges crypto exchange Bittrex for violating US securities laws
The SEC alleges Bittrex, once one of the largest crypto exchanges in the US, operated as an unregistered securities exchange.
FTX co-founder Sam Bankman-Fried accused of bribing Chinese officials
A newly unsealed indictment accuses Sam Bankman-Fried of conspiring to pay a $40 million bribe to Chinese government officials.
Crypto giant Binance charged with violating US trading and derivatives laws (updated)
Binance and its founder have been charged with commodities law violations.
SEC charges Lindsay Lohan and other celebrities for illegally touting crypto
They didn't disclose that they were being paid to promote Justin Sun's Tronix and BitTorrent crypto assets.