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DOJ Shelves Campaign Finance Charges Against SBF; Coinbase CLO Calls It a Mistake
The U.S. Department of Justice (DOJ) has opted not to pursue campaign finance charges against fallen crypto billionaire Sam Bankman-Fried (SBF). Paul Grewal, Chief Legal Officer at cryptocurrency exchange Coinbase, sharply criticized the move in a X thread. Grewal called it a "mistake" and a "miscarriage of justice," depriving the public of important answers. This......
No Second Trial for FTX Founder Sam Bankman-Fried, Prosecutors Say
Federal prosecutors will not pursue a second criminal trial against Sam Bankman-Fried, the founder of failed cryptocurrency exchange FTX, according to a letter filed in court Friday. A jury found Bankman-Fried guilty on seven counts related to fraud and money laundering in connection with the collapse of FTX and affiliated hedge fund Alameda Research. Prosecutors......
IRS Sees Surge in Crypto Tax Evasion Cases After Binance Probe
The IRS division that spearheaded the landmark Binance investigation disclosed that nearly half its cryptocurrency probes now center on crypto tax evasion cases rather than money laundering. Key Details: IRS Criminal Investigation Chief Jim Lee said crypto tax evasion cases jumped from 10% three years ago to around 50% of active digital asset probes. The......
🥛 5 interesting things we saw this week 👀
Today’s edition is brought to you by Uniswap — the largest onchain marketplace for digital assets — and now Android and iOS users have the power of Uniswap in their pocket.Download the Uniswap mobile app today!GM. This is Milk Road, the crypto newsletter that drops knowledge like the crystal ball on New Year’s.Side Note: In......
OKX to Delist Privacy Coins Monero, Zcash and Dash in 2024
Major crypto exchange OKX announced it would delist several prominent privacy-focused cryptocurrencies, including Monero, Zcash, and Dash, in early 2024. According to the details from a recent announcement, the exchange is delisting these coins due to concerns over its listing criteria. Key Takeaways OKX will remove a total of 20 trading pairs involving the privacy......
Singapore Prime Minister Warns Against Crypto Deepfake Scams
Singapore Prime Minister Lee Hsien Loong warned residents on Friday not to engage with crypto deepfake videos circulating online. The deepfake video depicts him promoting cryptocurrency scams with guaranteed returns. Sophisticated AI technology is enabling fraudsters to create convincing bogus footage, Lee cautioned in his recent Facebook post. Key Details: Fraudsters are producing deepfake videos......
Hacker Pink Drainer Loots $4,400,000 Chainlink, LINK Price Reacts
A notorious crypto-hacking syndicate known as Pink Drainer was linked by investigators to a recent phishing scam that drained $4.4 million worth of Chainlink (LINK) tokens from a single victim. Key Details: Pink Drainer tricked the victim into approving a malicious transaction that transferred over 275,700 LINK. The stolen crypto was quickly sold for Ethereum......
Judge Rules LUNA and MIR As Securities, Says Terraform Violated Securities Laws
A federal judge ruled Thursday that Terraform Labs, the creator of the failed stablecoin TerraUSD and LUNA token, violated securities laws by selling tokens to public investors without registration. The judgment sets the stage for a fraud trial next month brought by the U.S. Securities and Exchange Commission. Key Takeaways Judge Jed Rakoff sided with......
Solana (SOL) Slumps; BNB Surges to Regain 4th Market Cap Rank
Solana (SOL) shed nearly 8% over the past 24 hours, extending this week’s pullback to over 22% from Monday’s 10-month high above $125. The slump came as a speculative rush cooled around Solana-based meme coins after massive rallies. Key Takeaways SOL retreated from $125 to near $100. Solana meme coins that pumped earlier this month,......
Binance Sees 30% User Growth in 2023 Amid Regulatory Struggle
Leading crypto exchange Binance has published its 2023 year-in-review report. It revealed considerable growth despite a tumultuous year for the digital asset industry and the exchange. Most notable was the addition of over 40 million new users, representing more than 30% growth year-over-year despite the exchange CEO stepping down and regulatory trouble. As per the......
