Tag Archives: United States

Burdened by regulatory pressures, crypto lending firm Nexo has given up on continuing to operate within the United States. The company announced on Monday that it would begin phasing out its products and services from the country over the coming months.  Regulatory Roadblock According to Nexo, the firm has engaged in “good-faith dialogue” with the US state and federal regulators for the past 18 months. Despite this, Nexo no longer believes that such bodies can be negotiated...

The American authorities ordered Jeremy Spence (a.k.a. “Coin Signals”) to pay over $2.8 million in restitution to victims of his cryptocurrency fraud.  The US Department of Justice (DOJ) sentenced the criminal to 42 months in prison in May for running a scheme that defrauded investors with more than $5 million. ‘An Illustration of the CFTC’s Best Efforts’ The Commodity Futures Trading Commission (CFTC) announced that the US District Court for the Southern District of New York...

The latest figures show that the first eleven months of 2022 have seen the installation of 6,100 new crypto automated teller machines (ATMs). The temps have significantly slowed down due to the ongoing bear market. In comparison, over 20,300 crypto ATMs popped up in 2021 (when bitcoin and many altcoins charted their all-time high prices). Change of Trends The skyrocketing prices of most digital assets last year and the huge investor interest have prompted the planting of...

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:...

The Estonian police arrested two individuals in the country’s capital Tallinn for their alleged involvement in a $575 million cryptocurrency scam. According to the prosecution, Sergei Potapenko and Ivan Turõgin lured hundreds of thousands of victims to interact with a dubious digital asset mining service and to invest in a virtual currency bank. The entities did not pay the promised dividends to the people, while the criminals pocketed the funds. Another Multi-Million Crypto...

Alexey Pertsev – developer of the cryptocurrency mixer Tornado Cash – will reportedly remain in jail until late February 2023. The Dutch Crime Agency (FIOD) arrested the man in August this year after the US Treasury Department previously sanctioned Tornado Cash for enabling money-laundering procedures. According to a recent CoinDesk coverage, Pertsev will stay in prison until at least February 20, 2023. The Dutch authorities were supposed to release the Russian software...

The American senators – Elizabeth Warren, Tina Smith, and Richard Durbin – advised Fidelity Investments to reconsider its decision to allow investors to add bitcoin to their retirement 401(k) plans. One of the largest mutual fund companies in the US has heavily engaged in the crypto sector in the past few years. It recently considered providing bitcoin trading services to individual investors on its brokerage platform. A Renewed Warning After FTX’s Fiasco Fidelity Investments...

The American billionaire investor and hedge fund manager – Bill Ackman – reiterated his support for crypto, maintaining that the sector is “here to stay.” He also endorsed the blockchain-based network Helium, saying the project’s token HNT could “build intrinsic value over time.” Helium’s Merits In a recent series of tweets, the Founder and CEO of Pershing Square Capital – Bill Ackman – argued that Helium is one of the “interesting crypto projects” with numerous benefits. For...

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...

The United States Securities and Exchange Commission (SEC) extended its final decision on whether to approve the launch of ARK 21Shares’ spot BTC ETF to January 27, 2023. The Commission stated it needs more time to consider the pros and cons of the ETF. Two More Months Ark Invest wanted to introduce a spot Bitcoin ETF on the Cboe BZX Exchange in 2021 when it teamed up with the Switzerland-based fintech company – 21Shares. The securities watchdog of the States, though,...