Following an update from FTX debtors about the $5.5 billion discovered by administrators during an investigation, former FTX CEO Sam Bankman-Fried (SBF) took to Twitter to share a blog post from his Substack newsletter. SBF stated that the presentation published by litigation firm Sullivan & Cromwell is “extremely misleading” and that FTX US is solvent…
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A spokesperson for Bulgaria’s chief prosecutors denied claims that the investigation was prompted by the company’s political donations. Siika Mileva, a spokesperson for Bulgaria’s chief prosecutors, denied political motivations behind the probe against the crypto lending firm Nexo, according to local reports. The comments were made in response to claims that the investigation had a…
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After the offices of crypto lender Nexo were raided in Bulgaria, the digital currency lending platform experienced a significant amount of withdrawals starting Jan. 12, 2023. An archived snapshot of Nexo’s real-time attestation shows that the company held 133,263 bitcoin on that day. As of Jan. 13, 2023, Nexo’s attestation indicates that the company now…
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According to several reports, Bulgarian law enforcement officials are investigating crypto lender Nexo for alleged money laundering and sanctions violations. Siika Mileva, a spokesperson for Bulgaria’s attorney general, said the probe into Nexo is a large-scale operation involving 300 investigators from various agencies, including the National Security Service, Gendarmerie, and Sofia Police. Bulgarian Law Enforcement…
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The investigation was prompted by a report from Culper Research, which alleged that Core Scientific had “wildly oversold” its mining and hosting businesses. A New York-based law firm says it has begun an investigation into whether Bitcoin miner Core Scientific and its leadership potentially engaged in “securities fraud and other unlawful business practices” which led to its…
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U.S. authorities are reportedly investigating internal transfers from Digital Currency Group to its subsidiary Genesis. Crypto conglomerate Digital Currency Group, or DCG, are under investigation by the United States Department of Justice’s Eastern District of New York (EDNY) and the Securities and Exchange Commission (SEC), according to a Bloomberg report. The authorities are digging into…
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Following accusations from Gemini co-founder Cameron Winklevoss in an open letter to Digital Currency Group CEO Barry Silbert, a report citing “people familiar with the matter” states that federal prosecutors from New York are scrutinizing transfers between Digital Currency Group and its subsidiary, Genesis Global Capital. Report Claims Digital Currency Group, Genesis Global Capital Allegedly…
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United States prosecutors are investigating hedge funds’ relationships with cryptocurrency exchange Binance for money-laundering violations. United States prosecutors are investigating hedge funds’ relationships with cryptocurrency exchange Binance for money-laundering violations. According to anonymous sources cited by the Washington Post, the U.S. attorney’s office for the Western District of Washington in Seattle subpoenaed investment firms to…
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Coinbase has agreed to pay a $100 million settlement with the New York Department of Financial Services (NYDFS), according to a consent order signed by the NYDFS superintendent Adrienne Harris on Jan. 4, 2023. New York’s financial regulator said compliance problems were detected and the exchange’s anti-money laundering controls were inadequate from 2020 through 2021.…
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On Nov. 19, Coinsquare had to temporarily shut down operations to investigate an unusual activity on its platform. Just a month after becoming the first Canadian crypto trading platform to get registered by the Investment Industry Regulatory Organization of Canada (IIROC), Coinsquare suffered a data breach that compromised users’ personal information. On Nov. 19, Coinsquare…
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