Crypto exchange Binance expects to pay fines to U.S. authorities to settle regulatory and law-enforcement investigations over its past conduct, the company’s chief strategy officer reportedly said. When Binance began its business, the company was unfamiliar with the rules it needed to comply with in the U.S., the executive explained. Binance Plans to Settle With…
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Prosecutors in the financial fraud case against former FTX CEO Sam Bankman-Fried (SBF) are attempting to persuade the judge to restrict his use of electronic devices. It has been revealed that SBF used a virtual private network (VPN) to watch the Super Bowl through a foreign subscription service he had purchased before his arrest. Prosecutors,…
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The judge presiding over the FTX bankruptcy case has denied the U.S. Trustee’s request to appoint an independent examiner for the ongoing proceedings. The decision comes after judge John Dorsey postponed the ruling last week, citing concerns that the examiner could cost creditors tens of millions of dollars. The U.S. Trustee’s Argument for an Independent…
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Damian Williams, U.S. Attorney for the Southern District of New York pushed to defer the civil cases due to a major overlap between the CFTC, SEC and DOJ’s cases. A New York judge has granted a request from prosecutors to defer civil proceedings from the Commodities Futures Trading Commision (CFTC) and the Securities Exchange Commision…
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According to the Internal Revenue Service (IRS), the American tax authority, Kraken, the giant crypto exchange, failed to provide requested information regarding its US customers who conducted crypto transactions worth $20,000 or more between 2016 and 2020. The major exchange has allegedly been ignoring the IRS investigation summons. According to Law360,… Read More: The IRS…
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Judge John Dorsey has delayed his decision on whether to appoint an independent examiner in the FTX case. At the latest hearing, Dorsey acknowledged that the cost to debtors could reach tens of millions of dollars. Currently, the bankruptcy judge is hopeful that the issue will be resolved through a mutually agreed upon solution between…
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Silvergate shares have seen a sharp drop in pre-market trading following the news that US officials have launched a probe into the crypto bank’s dealings with fallen crypto giants FTX and Alameda Research. … Read More: Silvergate Bank Stock Plunges After Report of DOJ Investigation into Ties with FTX and Alameda Read more »Sign up for…
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The crypto bank hasn’t been accused of wrongdoing, but prosecutors want to see how deep the dealings between the crypto bank and FTX went. Crypto bank Silvergate is reportedly being probed by the United States Department of Justice fraud unit over its involvement with the bankrupt FTX exchange and its affiliates. The probe is investigating…
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Law enforcement authorities from over a dozen countries in Europe and North America have taken part in disrupting the activities of the Hive ransomware group, the U.S. Justice Department and Europol announced. Hive is believed to have targeted various organizations worldwide in the past couple of years, often extorting payments in cryptocurrency. Captured Decryption Keys…
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The Federal Bureau of Investigation (FBI) says it has seized bitcoin worth millions of dollars from overseas scammers targeting the elderly. The scammers posed as members of U.S. law enforcement agencies and tricked the victims into transferring money to them for “safekeeping.” FBI Says It Has Seized Bitcoin From Scammers Overseas The U.S. Attorney for…
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