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Felix Mollen



Articles by Felix Mollen

Ledger Partners With iPhone Co-creator Tony Fadell To Launch Its New ‘Stax” Crypto Wallet

19 hours ago

On December 6th, Ledger, the company behind the hardware wallets Ledger Nano S and Nano X, announced the launch of its new Ledger Stax wallet, which was developed in partnership with Tony Fadel, co-creator of the iPod and iPhone.
The new Ledger wallet has a unique and innovative design in the style of high-end Samsung cell phones. It lets users view their NFT collections even when the wallet is off.
According to Ledger, all of the improvements to the next-generation wallet were thanks to their relationship with Tony Fadell, whom they recognized as the inventor and mastermind behind Ledger Stax.
Ledger Stax (Render). Image: TwitterAlthough the wallet is not yet available for sale, interested customers can go to Ledger’s website to place reservations. The Ledger Stax will go

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Maxine Waters Is Not Playing With SBF. Says It Is Imperative That He Attends Their Hearing

2 days ago

Following the controversial interview between Sam Bankman-Fried and journalist Andrew Ross Sorkin at the New York Times DealBook Summit, SBF received a cordial invitation on December 13 from Congresswoman Waters to understand what happened during the FTX collapse.
However, SBF declined Waters’s invitation, saying he didn’t feel it was the right time to appear before the committee to explain all the events that took FTX, the 2nd largest crypto exchange in the U.S., into bankruptcy.

Rep. Waters, and the House Committee on Financial Services:
Once I have finished learning and reviewing what happened, I would feel like it was my duty to appear before the committee and explain.
I’m not sure that will happen by the 13th. But when it does, I will testify.

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Binance Moves Over $2Bn in BTC As Part of a Proof-of-Reserves Audit

9 days ago

A significant outflow of funds belonging to Binance set off alarms in the cryptocurrency community today.
According to a Tweet from Whale Alerts, the exchange pulled out more than 127,000 BTC in a single transaction, depositing the coins in an anonymous wallet address.

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 127,351 #BTC (2,062,504,721 USD) transferred from #Binance to unknown wallethttps://t.co/zNYPuJuoRe
— Whale Alert (@whale_alert) November 28, 2022
Of course, it was to be expected that, given the circumstances, FUD and nervousness would reign in the community. With exchanges rushing to conduct their own proof of reserves and some businesses moving large amounts of money into private wallets before shutting down, the chances of thinking the worst were more than justified.
The Mysterious

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Kraken Settles With The SEC And Pays $362k For Violating U.S Sanctions on Iran

9 days ago

The U.S. Office of Foreign Assets Control (OFAC) has made it clear that it will keep imposing fines on cryptocurrency exchanges for alleged violations of the U.S. sanctions system. This time it was the turn of Kraken, one of the oldest crypto exchanges in the U.S. Who will be next?
Kraken, a well-known American crypto exchange, agreed to pay a fine of more than $362,000 to the Treasury Department’s Office of Foreign Assets Control (OFAC) for “apparently” violating U.S. sanctions against the people of Iran.
According to the OFAC release, Kraken agreed “to settle its potential civil liability,” which could come along with possible violations of the Iranian Transactions and Sanctions Regulations.
In addition, the exchange agreed to “invest” $100,000 in certain additional

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Russia’s President Envisions a Global Payments System With Blockchain Technology

10 days ago

Priorities change according to the events, and Russia’s president may be taking notice. In a recent speech at the Artificial Intelligence Journey 2022 international AI and machine learning conference, Vladimir Putin spoke of the advantages of using a global payment system based on blockchain technology.
For President Putin, the primary advantage would be the ability to have a global payments framework uncontrolled by foreign powers. However, he also mentions that using such technology in conjunction with other developments (such as artificial intelligence) could make payments more efficient and affordable.
A Blockchain-Based Swift Substitute?
President Vladimir Putin explained that the proper use of blockchain technology could be highly beneficial for users and

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Crypto Exchange Bitget Expands to Africa. Plans To Hire 400 New Workers

12 days ago

The cryptocurrency winter has been colder for some than others. While some cryptocurrency exchanges are forced to conduct massive employee layoffs to weather the bear market, others like Bitget continue to make massive hires to improve their services.
On November 25, the cryptocurrency and crypto derivatives exchange Bitget announced its registration in the Seychelles, Africa, as a means to facilitate its global expansion.
As reported by The Cryptonomist, Bitget plans to increase its workforce by 50%, going from 800 workers to 1200 during the first quarter of 2023. In addition, it is hiring engineers and marketing professionals to improve its users’ experience.
Formerly decentralized, the exchange decided to register in the Seychelles to meet its goals of setting up more

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South Korea To Change Its Legal Framework To Better Control Crypto Projects

14 days ago

On the heels of the Terra LUNA meltdown and the bankruptcy of FTX, authorities from South Korea are proposing new amendments to the Digital Assets Bill seeking greater control over cryptocurrency exchanges.
Congressman Yoon Chang-Hyun is preparing an amendment to expand financial authorities’ control capabilities to prevent the repetition of events such as the FTX collapse.
According to local media outlet News 1, Chang-Hyun is proposing to grant more authority to the country’s Financial Services Commission and Financial Supervisory Service “in lieu of self-regulation” of cryptocurrency exchanges.
“Rep. Yoon Chang-Hyun of the People Power Party plans to propose a revision of the secure digital asset transactions bill at the first legislative review subcommittee of the

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Mattel Is Launching a Hot Wheels NFT Collection And a Brand New Marketplace

14 days ago

Despite the negative news surrounding the crypto ecosystem, NFTs continue attracting large entertainment companies’ attention.
This November 21, Mattel, one of the world’s largest toy companies, announced the launch of its own NFT marketplace, “Mattel Creations,” which will offer direct-to-consumer services.
According to the company’s press release, the first collection to be launched by the toy giant will feature NFTs of the Hot Wheels Garage Series 4, which will go on sale on December 15.
Mattel Bets Expanding Its Legacy To The Web3
The Hot Wheels NFT collection was developed by the same team in charge of manufacturing the physical collectible cars. This will make it possible for Mattel to offer valuable collections and rare digital artworks of Hot Wheels’ most popular

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NBA Team Golden State Warriors Faces Lawsuit For Promoting FTX as a Safe Platform

15 days ago

An FTX user is suing NBA team Golden State Warriors, accusing them of fraudulently promoting the FTX exchange after losing $750,000 due to the platform’s collapse.
The plaintiff Elliot Lam, filed a class action lawsuit in San Francisco against Sam Bankman-Fried (SBF), former CEO of FTX, Caroline Ellison, CEO of SBF’s trading firm Alameda Research and the Golden State Warriors, seeking $5 million in damages, according to Reuters, which had access to the lawsuit.
Elliot Lam: FTX Was a “Fraud” Promoted by The Warriors
According to Elliot, “thousands, if not millions, of consumers internationally” lost their savings because of the large-scale “fraud” perpetrated by FTX, which continues to wreak havoc on the crypto ecosystem.
Elliot further stated that the NBA team deliberately

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Bitcoin Shorts Hit Two-Year Record As The FTX Collapse Makes Waves, CoinShares Reports

16 days ago

As bad news regarding FTX’s bankruptcy keep appearing in crypto (and mainstream) media, investors have rushed to bet against bitcoin and the crypto market, with bear positions hitting two-year highs.
According to the “Digital Asset Fund Flows Weekly Report” from European cryptocurrency investment firm CoinShares, a bearish sentiment took hold of the crypto market during the last week to such an extent that short positions accounted for 75% of all trades in the market.
This means that the vast majority of institutional investors are betting heavily on the fall of BTC and other cryptocurrencies, such as ETH, which registered the highest amount of shorts ($14M).

1/ What is the crypto market sentiment this week?A deeply negative one with the largest inflows into

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JP Morgan Registers Trademark For a New Cryptocurrency Wallet

16 days ago

On November 21, U.S. Patent and Trademark Attorney Michael Kondoudis announced that JP Morgan & Chase Co, the largest bank in the United States— and one of the largest financial companies in the world— registered a patent to venture into the Web3 with a digital crypto wallet.
According to Kondoudis, the U.S. Patent and Trademark Office (USPTO) approved the application by JP Morgan & Chase Co.on November 15. The wallet will offer services like virtual currency transfer and exchange, crypto payment processing, virtual checking accounts, and financial services.
Source: TwitterJP Morgan Goes Deeper Into The Cryptocurrency Scene
Despite the controversial stance of its CEO against Bitcoin and cryptocurrencies in general, the bank continues to bet on crypto-related products to

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Grayscale Says No To Proof of Reserves

18 days ago

The cryptocurrency industry was built on top of one slogan: “don’t trust, verify.” But Grayscale is different from the rest of the cryptocurrency-related businesses.
In a recent Twitter thread pondering the need for transparency in the industry after the collapse of FTX, Grayscale attempted to calm its investors’ fears, assuring them that the regulations that apply to its various entities make an FTX-like scenario nearly impossible.
Grayscale Says: Funds Are Safe, Trust Us
Grayscale assures that each of its products is duly registered as a separate entity with its own regulations. They explain that the laws and regulations governing each of its crypto trusts prevent underlying assets from being sold, loaned, or otherwise transferred.
In a subsequent tweet, Grayscale

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FTX Says Sam Bankman-Fried Does Not Speak On Its Behalf

21 days ago

FTX is trying to do damage control in the midst of a bankruptcy process that has sent shockwaves throughout the whole crypto industry.
In a small Twitter thread, the official account of FTX spoke out regarding their relationship with Sam Bankman-Fried following the bankruptcy. The account attributes the words to John Ray, Chief Restructuring Officer and new CEO of the company following the resignation of Sam Bankman-Fried.

(2/3) As previously announced, Mr. Bankman-Fried resigned on November 11 from @FTX_Official, FTX US, Alameda Research Ltd. and their directly and indirectly owned subsidiaries.
— FTX (@FTX_Official) November 16, 2022
(3/3) Mr. Bankman-Fried has no ongoing role at @FTX_Official, FTX US, or Alameda Research Ltd. and does not speak on their behalf.
— FTX

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CryptoCom Sends Letter to Clients Assuring Their Funds Are Safe. CRO Recovers 30% Since Yearly Low

22 days ago

The freezing crypto winter and the fall of the FTX empire have hit the entire industry. As confidence in CEXs dwindles, the CEOs of the various platforms have been quick to try and calm their customers’ fears.
Crypto.com has been in the social media spotlight because of this exact reason. Following an AMA from its CEO, the exchange sent an email to its clients assuring everyone that their funds are safe and available for withdrawal or trading on a 24/7 basis.
Funds Are Safe in Crypto.com
According to an email obtained by CryptoPotato with the title “Leading the industry in safety, compliance, and security,” Crypto.com assures its 70 million customers that despite the “difficult week,” the platform is safe and has regulatory approval from several countries around the world

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Mexico Will Have Its First Shopping Mall In The Metaverse

October 27, 2022

Shopping malls in the metaverse have several advantages. One of them is that they can house as many stores as the developers’ imagination allows. This is what a Mexican entrepreneur envisioned with Island Shopping Mall: Mexico’s first metaverse mall.
The mall was inaugurated today and can be accessed from mobile devices via an app available in the AppStore or Google Play.
According to the local media outlet Cultura Empresarial, users of both platforms can now download the shopping mall application to enjoy an immersive experience through “an island paradise to have a good time online.”
Users accessing this new virtual world will be able to make online purchases and earn gems and coins that can be exchanged for discount coupons or products in several shopping centers

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Elon Musk Is Ready To Buy Twitter This Week, Sources Say

October 25, 2022

On October 24, CEO Elon Musk confirmed during a video conference with a group of bankers that he is prepared to close the acquisition of Twitter by Friday, October 28.
According to sources interviewed by Bloomberg, the banks provided $13 billion in financing to the electric car mogul to finalize the purchase, which is in the final stages of its paperwork.
Wall Street lenders had been preparing for weeks in anticipation of the purchase. The court handling the Twitter case set Friday, October 28, as the deadline for closing the buyout.
Following the news, Twitter’s shares began to rally, approaching the purchase price agreed upon when the two parties began negotiations.
Price of Twitter stocks: Source: TradingviewWhy Was The Twitter Purchase Delayed?
Elon Musk hesitated in

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10% of Women Choose Crypto as Their First Investment: Blockfi Survey

October 24, 2022

A survey conducted by BlockFi shows that female generation Z and millennials who are new to investments are willing to put their money in crypto before anything else.
This October 24, U.S-based cryptocurrency company Blockfi released its latest edition of a crypto survey focused on assessing women’s investment patterns. The results showed that one in ten women picked cryptocurrencies as their first investment.
Besides those results, a previous research, the Real Talk: Women x Crypto 2.0 survey, conducted in March of 2022, found that 33% of the women who already had invested started their journey with cryptocurrencies.
Among the respondents, 17% are millennials, while 11% are Generation Z or post-millennials. The survey aims for the data to generate honest and “real”

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Klaytn (KLAY) Skyrockets 106% After New Governance Proposal

October 24, 2022

This October 23, Klaytn, a metaverse and gamefi-focused public blockchain, announced a governance proposal to reduce its block rewards.
According to an official statement, the new Q3 updates submitted to the Klaytn Governance Council (GC) seek to optimize the issuance level of KLAY tokens through a governance proposal that lowers block rewards by ⅓.

An ongoing proposal by our GC recommends reducing existing block rewards by ⅓ in order to optimize the level of $KLAY emission.
Results of the governance vote will be in by 25 Oct 2022.
More details here:https://t.co/wkC9WEOrzq
— Klaytn (@klaytn_official) October 23, 2022
The reduction aims to address the volatility currently seen in the macro markets, which has led to the collapse of several projects and bankrupted several

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Hackers Compromise the Twitter Account of GateIO to Promote a Phishing Scam

October 22, 2022

Hackers are once again taking advantage of social networks to do their thing. This time, they compromised the official Twitter account of a popular crypto exchange to promote a phishing scam.
Around midnight on October 21, PeckShieldAlert reported that the official Twitter account of Gate.io was hacked to promote a scam simulating a Giveaway of up to 500,000 USDT in rewards.
The fraudulent tweet by Gate.io. Image: Peckshield via TwitterThe tweet posted by the hackers offered a prize of 500 USDT to the first 1,000 winners who claimed the reward by connecting their wallet to a fake phishing page, pretending to be the platform’s official site.
Thanks to the warnings from Peckshield and the community, Gate.io regained control of its account and removed the malicious

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Interpol Launches Its Own Metaverse —Along With a Metaverse Expert Group

October 21, 2022

On October 20, the International Criminal Police Organization (Interpol) announced the launch of the first metaverse. The organization unveiled the news during the 90th anniversary of its General Assembly in India.
According to the release, the Interpol metaverse allows users worldwide to access Interpol’s headquarters in Lyon, France.
Visitors to the metaverse will be able to explore and interact with other officers through their own avatars, taking classes or private police training courses and intensive forensic investigation training, among other activities.
During the ceremony, General Assembly officials were able to enter the metaverse using VR equipment to walk around the Interpol building in France.
Interpol to offer training courses in the metaverse
The goal of

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US Accuses Five Russians and Two Venezuelans of Smuggling Oil, Millitary Equipment Using Crypto

October 20, 2022

On October 19, the United States Department of Justice (DOJ) accused two Venezuelan citizens and five Russians of using cryptocurrencies to launder money for Russian oligarchs by selling oil barrels from sanctions-hit Venezuela.
According to the press release, the defendants smuggled millions of barrels of oil to Russia and China, laundering “tens of millions of dollars.” They used crypto to launder part of the funds .
Among the Russian defendants are Yury Orekhov, Artem Uss (son of the governor of the Russian region of Krasnoyarsk Krai), Svetlana Kuzurgasheva, Timofey Telegin, and Sergey Tulyakov. In addition to Venezuelans Juan Fernando Serrano Ponce, also known as “Juanfe Serrano” and Juan Carlos Soto, who acted as an intermediary between the illicit oil deals of the

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Metamask to let U.S. Users Buy Cryptocurrencies Directly From Their Bank Accounts

October 14, 2022

Metamask continues to push for leadership in the cryptocurrency wallet industry, offering new tools that make it easier for its users to purchase crypto.
On October 13, Sardine, a financial platform offering instant ACH settlements, confirmed a partnership with ConsenSys to allow Metamask users in the U.S. to purchase cryptocurrencies with their bank accounts from the wallet’s UI.

We don’t fox around
We make payments faster & safer for MetaMask users 🦊 https://t.co/kvhAKQy6oe
— Sardine (@sardine) October 13, 2022
This would be the latest partnership announced by Metamask. Before this one, the web wallet revealed an association with Asset Reality to help users recover their stolen cryptocurrencies for free.
For Sardine, this partnership would be one more achievement in its

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Bittrex Fined With $53 Million For Violating Anti-Money Laundering Laws

October 12, 2022

Cryptocurrencies are supposed to be censorship resistant… Cryptocurrency exchanges, not so much. Bittrex found this out the hard way after a record fine imposed by the U.S. regulators.
On October 11, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN) announced that Bittrex, a Washington-based cryptocurrency exchange, will be fined $53 million for violating multiple securities laws.
According to the statement, Bittrex violated sanctions laws and anti-money laundering obligations, resulting in two fines of more than $24 million and $29 million, respectively. This would be the largest enforcement action ever imposed by the OFAC on a cryptocurrency exchange.
Sanctioned Countries Moved Nearly $263

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Horizon Blockchain Games Raises $40 Million From Ubisoft, Take-Two and Other Investors

October 5, 2022

As NFT games boom, the traditional video game industry is starting to take an interest in Web3 development, investing large sums of money in blockchain gaming companies.
On October 04, Horizon Blockchain Games, a startup focused on Web3 game development, announced the raising of $40 million in a Series A funding round, which involved large traditional video game companies such as Ubisoft and Take-Two Interactive.
According to Horizon’s press release, the funding round was led by Brevan Howard Digital and Morgan Creek Digital. It featured investors from the Web3 industry and the tech space in general, including Polygon, Xsolla, BITKRAFT, Initialized Capital, Quantstamp, Everyrealm, Sky9 Capital, Round13 Capital, Xchange, Translink, CMT Digital, and J17, among others;

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Gemini Taps MakerDAO To Boost Adoption of Its GUSD Stablecoin

September 30, 2022

On September 29, Gemini co-founder Tyler Winklevoss published a proposed “marketing incentive” on the MakerDAO forum to drive the adoption of his stablecoin GUSD through a three-month strategic plan.
According to Tyler Winklevoss’ proposal, Gemini will pay monthly fixed annual interest of 1.25% on all the GUSD stored in MakerDAO PSM vaults, as long as the average monthly balance is at least 100 million GUSD by the end of the month.
“As we’d like GUSD usage to increase on-chain, we propose that this marketing incentive only be credited if the average monthly balance of GUSD in the PSM is greater than or equal to $100m for the month.”
This would be the latest effort of the US-based exchange to grow in the middle of the crypto winter. Recently it had to let go of over 10% of

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Binance Launches Training Program For Law Enforcement Agencies

September 28, 2022

For several years now, Binance has played an important role as the big brother of the crypto industry by assisting in the recovery of funds from users who have been victims of theft, scams, or hacks. But now, they are aiming higher with an e-crime training program.
On September 27, Binance announced the official launch of its “Global Law Enforcement Training Program,” created to help law enforcement agencies combat financial and electronic crimes that involved crypto or digital assets.
Per Binance’s statements, the training program is led by a team of highly skilled professionals, including security experts and former law enforcement officers who helped take down criminal platforms such as Silkroad and Hydra.
Binance offers one-day training programs that include intensive

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Alcala Resumes Operations After Printing Over $3 Billion in Stablecoins by Mistake

September 27, 2022

Some blockchain projects have to deal with hackers, and others, like Alcala, have to deal with their own developers. A “human error” a few weeks ago almost killed the whole project. Still, thanks to the mutual effort of the community and the developers, the problem has been solved —kind of.
On September 26, Acala network announced the reactivation of its operations after having recovered $2.970 million in aUSD of the $3.022 million its teammistakenly printed in August.

The community referendum for Stage 1 of resuming Acala operations has passed and been executed.
LPs who choose to unstake LP tokens or withdraw liquidity on Acala now have the option to do so. https://t.co/yzvOz7zwxT
— Acala (@AcalaNetwork) September 26, 2022
According to Acala, the community voted to

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Epic Games Store Releases Its First NFT Game: Blankos Block Party

September 16, 2022

On September 15, American video game development company Epic Games announced the official launch of Blankos Block Party on its Game Store, making it the first NFT game to be included in the platform’s Marketplace.
The beta version of Blankos Block Party was launched in 2020 by Mythical Games and has already gained more than one million players, according to its developers. The most attractive thing about this shooter game is the NFT characters and accessories, which can be traded in the in-game store.
The First NFT Game on the Epic Games Store is Based on EOSIO
The game can already be downloaded for free in the “early access” version until September 28, when the first season of the full game will be released with new visual and navigation improvements.
It is worth

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US Treasury Department: Users Will Need a License to Withdraw Funds From Tornado Cash

September 14, 2022

On September 13, the U.S. Treasury Department published a guide with a series of steps for U.S. citizens to follow in order to withdraw their funds from Tornado Cash.
Tornado Cash was a mixing service shut down on August 8 by the U.S. Treasury Department. This happened after investigations showed that the platform was used to launder money thanks to its transaction obfuscation features.
Users Must Apply For a License to Withdraw Funds
Per the Treasury Department’s guidelines, U.S. users of Tornado Cash must apply for a specific license from OFAC in order to withdraw any funds deposited on Tornado Cash before August 8.
“U.S. persons or persons conducting transactions within U.S. jurisdiction may request a specific license from OFAC to engage in transactions involving the

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Coinbase Exec’s Brother Pleads Guilty to Cryptocurrency Wire Fraud

September 13, 2022

The U.S. Department of Justice released a statement on September 12 reporting that Nikhil Wahi, brother of ex-Coinbase product manager Ishan Wahi, pleaded guilty to committing cryptocurrency wire fraud using insider information sourced from his brother.
Per the release, Nikhil Wahi faces up to 20 years of possible jail time. In addition, he will have to forfeit all unlawfully obtained monetary gains.
Ishan Wahi, on the other hand, pleaded not guilty in early August to the charge of cryptocurrency wire fraud; however, his brother’s plea could put a negative spin on his case.
The First Person to Plead Guilty to Cryptocurrency Wire Fraud
U.S. Attorney Damian Williams said this is the first time in history that a person accused of cryptocurrency insider trading has pled guilty

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