Jump Crypto unstakes $315M of ETH, now headed to exchanges
Jump still holds at least $125 million of staked-Ether, blockchain data from Arkham shows. Go to Source
CFTC
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CFTC Warns of Follow-on Frauds Targeting Victims Multiple Times
The Commodity Futures Trading Commission (CFTC) warns about repeated fraud targeting victims multiple times, often by the same criminals. Common fraud types include relationship crypto frauds, also known as “pig butchering,” where scammers form online relationships, encourage investments in bogus crypto trading schemes, and then steal funds. Victims often face additional scams, such as fraud-recovery … Read more
Hacker gets 3.5 years prison for $900K Coinbase login scam: Report
A UK hacker faces prison for his Coinbase dummy website scam, an El Paso man’s alleged crypto “Ponzi” funded his lavish lifestyle, and Washington DFI flags the latest potential crypto fraud. Go to Source
Federal Agencies Join Forces to Fight Crypto Scams
Several federal agencies, including the Federal Bureau of Investigation (FBI) and the U.S. Securities and Exchange Commission (SEC), convened at a Fraud Disruption Conference to combat crypto scams, particularly the “pig butchering” fraud that siphons billions from Americans annually. The meeting brought together over 300 officials from 15 federal agencies to strategize against this pervasive … Read more
Crypto Exchange Bitmex Pleads Guilty to Violating Bank Secrecy Act, AML Failures
Crypto exchange Bitmex has pleaded guilty to violating the Bank Secrecy Act (BSA) by failing to maintain an adequate anti-money laundering (AML) program, resulting in the company being a vehicle for large-scale money laundering. The DOJ announced this plea following previous legal actions and settlements. Bitmex says: “We have accepted the BSA charge, will seek … Read more
CFTC Chair Pushes for Federal Legislation to Regulate Bitcoin and Ether as Commodities
During his Senate testimony, the chairman of the Commodity Futures Trading Commission (CFTC) emphasized the necessity of federal legislation to regulate digital commodities such as bitcoin and ether. Citing market volatility and fraud, the chairman advocated for expanded regulatory powers to safeguard investors and maintain financial stability. He also referenced a recent court ruling that … Read more
Supreme Court ruling ‘changes the game’ for US crypto firms
The high court’s decision further bolsters the argument “that Congress, not an agency, should decide if — and how — to regulate Web3.” Go to Source
BitMEX expects ‘no further fines’ for ‘old’ AML violation in US
BitMEX addresses the DOJ’s BSA charge as a past issue, highlighting their compliance improvements and founders’ prior penalties. Go to Source
CFTC Chair reiterates BTC and ETH are commodities in testimony
Head of the US commodities regulator, Rostin Behnam, has again argued his agency should be given regulatory oversight of Bitcoin and Ethereum to better protect investors. Go to Source
CFTC Wins Case Against Crypto Fund Operators
The U.S. Commodity Futures Trading Commission (CFTC) filed a case against Sam Ikkurty, Ravishankar Avadhanam, and Jafia LLC for civil violations of the Commodity Exchange Act (CEA), specifically involving cryptocurrency investments. The court granted the CFTC’s motion for summary judgment on Monday, finding that the defendants misrepresented the performance of their crypto funds, operated a … Read more
