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Genesis Sues Gemini Seeking $689 Million in ‘Preferential Transfers’
Crypto lending firm Genesis Global Capital has filed a lawsuit against the Gemini crypto exchange. The lawsuit seeks the recovery of over $689 million in alleged "preferential transfers" made by Gemini amid market turmoil this year, court documents revealed on Tuesday. The lawsuit marks the latest twist in the bitter legal fight between the two......
Mt. Gox to Finally Commence Repayments in Cash to Creditors
Nearly a decade after its collapse, defunct crypto exchange Mt. Gox is gearing up to start compensating creditors after prolonged delays, according to an email sent to claimants this week. In an email to creditors on November 22, Mt. Gox rehabilitation trustee Nobuaki Kobayashi said efforts are underway “to commence repayments in cash within the......
Coinbase CEO Responds to Binance Charges, Sees Opportunity to Begin a New Chapter
With the stunning news that rival crypto exchange Binance has been hit with criminal charges in the U.S., Coinbase CEO Brian Armstrong sees vindication in his company's slower, compliance-focused approach. In a tweet shortly following the news regarding Binance CEO's departure on Tuesday, Armstrong laid out why he believes Coinbase's cautious strategy will pay off......
DOJ Brings Criminal Charges Against Crypto Exchange Binance
The U.S. Department of Justice (DOJ) announced criminal charges against cryptocurrency exchange Binance on Tuesday. The charges allege the firm conspired to launder money and violated U.S. sanctions law. The filings represent the culmination of a years-long federal investigation into the largest crypto trading platform globally in terms of volume. The charges specifically relate to......
Binance CEO Changpeng Zhao Resigns, Pleads Guilty
Binance CEO Changpeng Zhao (CZ) plans to step down from his leadership role. Additionally, he will plead guilty to criminal violations of U.S. anti-money laundering (AML) regulations, according to sources familiar with the matter shared with WSJ. CZ's guilty plea is part of a sweeping $4.3 billion settlement deal between global cryptocurrency exchange Binance and......
Department of Justice Seizes $9 Million Tether (USDT) Linked to Romance Scams
The U.S. Department of Justice (DOJ) announced on Tuesday that it has seized nearly $9 million worth of the stablecoin Tether associated with an international criminal network running romance scams and cryptocurrency investment schemes. Dubbed "Pig Butchering," these scams seek to gain a victim's trust before coercing them to make bogus crypto investments or directly......
🥛 The U.S. vs Crypto Exchanges ⚔️
Today’s edition is brought to you by Phemex - a top exchange for trading crypto and derivatives that is entering the second stage of its Phemex Token To The Moon event.Join the fun!GM! Milk Road: Your daily dose of crypto, minus the side effects of confusion.Here’s what we got for you today:Trouble for Binance and......
Kraken Fires Back Against SEC Complaint, Vows to “Vigorously Defend” Its Position
The U.S. Securities and Exchange Commission (SEC) filed a complaint alleging that crypto exchange Kraken operates as an unregistered securities exchange, broker, and clearing house. Kraken strongly pushed back against the allegations, arguing that the claims are "factually incorrect" and have no legal basis. In the complaint, the SEC points to large transaction volumes on......
US DOJ Seeks Over $4 Billion From Binance For Settlement
The US Department of Justice is engaged in advanced negotiations with cryptocurrency exchange Binance over a proposed resolution to a multi-year investigation. The DOJ is seeking a settlement amount of over $4 billion from Binance, according to people familiar with the confidential talks shared with Bloomberg. Settlement discussions include potential criminal charges against Binance founder......
🥛Meet the new pro-Bitcoin president… 👀
Today’s edition is brought to you by Arrived - a startup that lets regular people invest small amounts of money in single-family and vacation rental properties.Invest in real estate with as little as $100!GM. This is the Milk Road, we’re that friend in the group that tries the hot wings first, just to make sure......
