Crypto News
SEC Requests Updates to Nasdaq and CBOE Ethereum ETF Filings
According to Reuters, the U.S. Securities and Exchange Commission (SEC) has requested that Nasdaq and CBOE amend their applications to list spot Ethereum exchange-traded funds (ETFs). Key points: The SEC's request for updates to Nasdaq and CBOE filings signals potential approval of spot Ethereum ETFs. ETH price surged by as much as 22% in the......
Kraken Mulls Removal of Tether (USDT) Amidst New EU Regulations
Kraken is actively reviewing its plans to potentially remove support for Tether's USDT on its platform in the European Union (EU). According to Bloomberg, this move comes in response to the impending implementation of the Markets in Crypto-Assets (MiCA) regulatory framework, set to take effect in July. Key points: Kraken is considering dropping support for......
Binance Executive Denied Bail in Nigeria Amid Money Laundering Trial
A Nigerian court has denied the bail application of Tigran Gambaryan, a detained Binance executive. The court cited concerns that he may attempt to evade trial. The spokesperson for Gambaryan's family announced the decision on Friday, coinciding with the executive's 40th birthday. Key points: Tigran Gambaryan, Binance's Head of Compliance, has been detained in Nigeria......
India’s SEBI Recommends Multi-Regulator Approach for Crypto Oversight
The Securities and Exchange Board of India (SEBI) has recommended that multiple regulators should oversee various aspects of crypto trading in the country. This stance, revealed in documents seen by Reuters, marks the strongest indication to date that at least some Indian authorities are open to allowing the use of private virtual assets. Key points:......
Binance Develops Algorithm to Combat Address Poisoning Scams
Binance has taken a major step towards combating the growing threat of address poisoning scams by developing an innovative algorithm. The exchange's security team has created a unique method to identify and flag millions of poisoned crypto addresses. Key points: Binance's algorithm identified 13.4 million spoofed addresses on the BNB Smart Chain and 1.68 million......
Tornado Cash Developer Appeals Money Laundering Conviction
Alexey Pertsev, the Tornado Cash developer who was recently found guilty of money laundering by the s-Hertogenbosch court in the Netherlands, has filed an appeal against his conviction. The court spokesperson confirmed that Pertsev has submitted an appeal. However, it remains unclear whether the appeal has been approved at this stage. Key points: Alexey Pertsev......
Two Brothers Indicted for $25 Million Ethereum Blockchain Heist
Anton Peraire-Bueno, 24, of Boston, and James Pepaire-Bueno, 28, of New York, have been indicted on charges of conspiracy to commit wire fraud and money laundering. According to the DOJ, the brothers allegedly orchestrated a scheme that exploited the integrity of the Ethereum blockchain to fraudulently obtain approximately $25 million worth of cryptocurrency in just......
North Korea Laundered $147.5 Million Via Tornado Cash: UN
United Nations sanctions monitors have revealed information about North Korea's illicit financial activities in a confidential report that Reuters saw on Tuesday. The report, submitted to a U.N. Security Council sanctions committee on Friday, details how the nation laundered $147.5 million through Tornado Cash in March. Key findings from the report: UN sanctions monitors investigated......
Sonne Finance Falls Victim to $20M Hack, Forcing Protocol to Pause Operations
Lending protocol Sonne Finance has suspended its operations following a hack that resulted in the theft of $20 million worth of cryptocurrencies from the platform. The incident, which occurred on May 14 at approximately 10:30 p.m. UTC, was first detected by Web3 security firm Cyvers. The firm noted an ongoing attack targeting Sonne Finance's USD......
El Salvador Volcanic Bitcoin Mining Yields 473.5 BTC, Boosting Holdings to 5,750 Coins
El Salvador has mined 473.5 Bitcoin since September 2021 using geothermal energy from the Tecapa volcano. According to official data released by the country's "Bitcoin Office" on Tuesday, this brings the government's total Bitcoin portfolio to 5,750 BTC. Key points: El Salvador has mined 473.5 Bitcoin since 2021 using geothermal energy from the Tecapa volcano.......
Tornado Cash Developer Convicted of Money Laundering, Sentenced To 64 Months in Prison
A Dutch judge at the s-Hertogenbosch court has found Alexey Pertsev, a developer of the cryptocurrency mixing platform Tornado Cash, guilty of money laundering. The court sentenced Pertsev to 64 months in prison, marking a shocking development in the ongoing legal battles surrounding the crypto mixer. Key points: Alexey Pertsev convicted of money laundering by......
Coinbase Investigates System-Wide Outage, Assures Users’ Funds Are Safe
Coinbase is currently grappling with a system-wide outage that has left users unable to access their accounts or conduct transactions. The company has announced that it is actively investigating the issue and working on implementing a solution to restore full functionality to its platform. Key points: Coinbase is experiencing a system-wide outage, affecting all users.......
Crypto Exchange Rain Allegedly Exploited for $14.8M: ZachXBT
In a recent revelation by on-chain investigator ZachXBT, the Bahrain-based crypto exchange Rain appears to have fallen victim to a significant exploit. The exploit has resulted in a loss of approximately $14.8 million. The alleged incident, which took place on April 29, 2024, was brought to light through a Telegram post by the renowned sleuth.......
Crypto Funds See $130M Inflows, Ending 5-Week Outflow Streak
After five consecutive weeks of outflows, crypto investment products have experienced a notable turnaround, recording inflows totaling $130 million. However, despite this positive development, exchange-traded product (ETP) volumes continue to subside. They have recorded a weekly volume of $8 billion compared to the $17 billion average in April, according to a report by CoinShares. Key......
Chinese Police Bust $296 Million Illegal Crypto-Based Underground Bank
Chinese authorities have uncovered and closed down an underground bank that exploited crypto to facilitate illicit currency exchange operations between the Chinese yuan and the South Korean won. The Public Security Bureau of Panshi City, Jilin Province, successfully arrested six suspects involved in the case. The suspects completed transactions amounting to approximately 2.14 billion yuan......
Binance Registers With India’s Financial Intelligence Unit
The world's largest crypto exchange, Binance, and its rival, KuCoin, have been registered with India's Financial Intelligence Unit (FIU). This marks the first time that offshore crypto-related entities have been approved by India's anti-money laundering unit. Key points: Binance and KuCoin are among the first offshore crypto entities to be registered with India's FIU. KuCoin......
Kraken Fires Back at SEC, Arguing Agency’s Case Lacks Proper Wording
Kraken has intensified its legal battle with the United States Securities and Exchange Commission (SEC) by filing a reply to the agency's April letter regarding the company's motion to dismiss the case. Kraken argues in the latest development that the SEC has not identified any specific investment contracts traded, brokered, or settled on its platform.......
Revolut Launches Standalone Crypto Exchange Called Revolut X
Revolut, a UK fintech company, has announced the launch of Revolut X, a standalone cryptocurrency exchange. Key features of the exchange: Access to more than 100 tokens via the desktop version of the exchange. The platform offers low flat fees of 0.00% for makers and 0.09% for takers. Seamless integration with Revolut retail accounts. Real-time......
Binance Slapped with $4.3 Million Penalty by Canadian Regulator
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has imposed a substantial administrative monetary penalty on Binance. On May 7, 2024, FINTRAC issued a penalty of $4.3 million for Binance's non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated regulations. Key points: Binance did not register as......
Consensys CEO Joseph Lubin Accuses SEC of Stifling Innovation Like Ethereum
Joseph Lubin, the co-founder of Ethereum and CEO of Consensys, has spoken out against the U.S. Securities and Exchange Commission (SEC). He alleged that the regulator is intentionally hindering innovation in the cryptocurrency industry to protect the existing financial landscape. In a candid discussion at FT Live's Crypto and Digital Asset Summit in London shared......
