Prosecutors have proposed a prison term of five to seven years for Ryan Salame, a former executive at FTX, ahead of his sentencing scheduled for May 28, 2024. This recommendation contrasts sharply with Salame’s legal team’s plea for a more lenient punishment of no more than 18 months. Clash Over Sentencing: Prosecutors Demand 5-7 Years…
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On April 30, 2024, the U.S. Department of Justice (DOJ) detained Roger Ver, a trailblazing investor in bitcoin, on accusations of tax evasion and submitting fraudulent tax returns. The following update is accompanied by a statement from Bitcoin.com regarding the allegations against the company’s founder. Bitcoin Investor Roger Ver Charged With Tax Evasion According to…
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A Bloomberg article, citing “people familiar with the case,” reveals that FTX’s co-CEO Ryan Salame is allegedly in talks with prosecutors, and a plea agreement could be forthcoming. Insiders also emphasize that Salame’s privately owned aircraft may be surrendered as part of the suspected plea deal. Private Jet on the Bargaining Table as FTX’s Salame…
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The U.S. Securities and Exchange Commission (SEC) took legal action against Binance, the largest cryptocurrency exchange globally, for violating U.S. securities laws. Gary Gensler, the chairman of the SEC, revealed that Binance is facing thirteen charges related to these violations. Binance Hit With SEC Lawsuit Over Alleged Violations of U.S. Securities Laws faces another lawsuit…
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A Montenegrin high court judge has reportedly invalidated the bail application of Do Kwon, the co-founder of Terraform Labs. Kwon was detained for providing false identification while boarding a flight to Dubai alongside a companion on March 23, 2023. Terraform Labs Co-Founder’s Bail Request Invalidated by Montenegrin High Court For the past 62 days, Do…
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On April 27, Coinbase, the crypto exchange based in San Francisco, made public the disclosure of its response to the Wells notice it had received from the U.S. Securities and Exchange Commission (SEC) back in March. The company maintained that the regulatory body’s enforcement actions were in direct contrast to the agency’s previous approval of…
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Court documents reveal that Justin Sun, Tron’s founder, has been sent a summons from the U.S. Securities and Exchange Commission (SEC) regarding the civil complaint filed against him last month. Youtuber Austin Mahone and rapper Soulja Boy, whose real name is DeAndre Cortez Way, have also been summoned. The SEC accuses Sun of orchestrating an…
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After the disgraced co-founder of FTX, Sam Bankman-Fried (SBF), donated $5.2 million to Joe Biden’s campaign in 2020 and more than $40 million to Democrats leading up to the U.S. midterm election cycle, three major Democratic organizations plan to return 2.2% of the funds, or $1 million, to the now-defunct crypto exchange. Of the total…
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