In a shocking turn of events, renowned crypto magnate Do Kwon has been found liable for a multibillion-dollar fraud scheme. The news has sent shockwaves through the financial world, with investors and industry insiders scrambling to understand the implications of Kwon’s actions.
Background
Bankman-Fried, once hailed as a crypto prodigy, is facing significant jail time after being found guilty of orchestrating a multi-million dollar Ponzi scheme that defrauded thousands of individuals.
Crypto traders have brushed off concerns over waning ETF inflows in the market, expressing confidence as Bitcoin maintains its position above $70,000.
Bitcoin (BTC) and other cryptocurrencies are facing potential risks following the recent Federal Open Market Committee (FOMC) meeting, according to analysts. The meeting discussed possible interest rate hikes and tapering of asset purchases, which could impact the prices of digital assets.
Coinbase, one of the largest cryptocurrency exchanges in the United States, has made headlines after accusing the U.S. Securities and Exchange Commission (SEC) of breaking the law in rejecting their request for a crypto rulemaking.
Crypto funding rates reset after Bitcoin’s sharp pullback from $69K
Cryptocurrency holders in the United Kingdom will soon face fewer restrictions when it comes to the seizure of their digital assets by authorities. The move is part of a broader effort to streamline the distribution process for seized crypto assets in the country.
In a recent ruling made by the Securities and Exchange Commission (SEC) in the Coinbase insider trading lawsuit, the cryptocurrency industry faces a significant setback. The judge presiding over the case has declared that secondary token sales conducted by Coinbase were considered securities, setting a new precedent that could have far-reaching implications.
The U.S. Department of Energy has agreed to halt its collection of information on cryptocurrency mining activities following a lawsuit filed by a group of industry stakeholders. This decision comes after concerns were raised about the agency’s efforts to gather data without proper authorization.
Lawmakers are ramping up pressure on the U.S. Securities and Exchange Commission (SEC) to ease its stance on the cryptocurrency industry. The SEC has faced increasing criticism for its tight regulations on digital assets, with many arguing that these rules stifle innovation and investment in the sector.
