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Former Binance CEO CZ Released on $175 Million Bond, Sentencing Hearing Set for February 2024

The founder and former CEO of Binance, Changpeng "CZ" Zhao, has been released on a $175 million personal recognizance bond. This follows his guilty plea to charges of violating the Bank Secrecy Act. A plea made during a court appearance where federal officials accused him of directing...

, by Jai Pratap

Aragon DAO Backs Lawsuit Against Founding Team, Allocates $300,000 in Funding

Aragon DAO, a decentralized autonomous organization, has passed two votes that support a lawsuit against its founding team, allocating $300,000 in funding for the legal battle. The voting process saw unanimous approval for the proposal, with 1.6 million governance tokens cast in favor,...

, by Ruholamin Haqshanas

Uranium-backed Token Uranium3o8 Goes Live on Uniswap

Uranium3o8, an asset-backed token backed by uranium, has gone live on Uniswap. In a press release published on Tuesday, Bahamian financial advisory firm Sanmiguel Capital Investment Ltd announced that its uranium-backed token had opened for trading on Uniswap, with the goal of creating the...

, by Brian Yue

Crypto Miner Phoenix Group’s IPO Sales 33X Oversubscribed

Multinational crypto mining and blockchain giant Phoenix Group has achieved a significant milestone in its initial public offering (IPO) raise. According to a press release, the mining company was able to close its IPO raise after investors oversubscribed 33 times, pointing to a strong interest...

, by Jimmy Aki

DOJ Announces Aeizure of $9 Million of Tether Tied to ‘Pig Butchering’ Scams

On Tuesday morning, the U.S. Department of Justice announced the seizure of nearly $9 million worth of Tether linked to “pig butchering” scams that exploited over 70 victims. How the fraudsters did it Originating in Southeast Asia, “pig butchering” is a...

, by Julia Smith

Chinese Police Warn of Rise in CBDC-themed Money Laundering Schemes

Chinese police say there has been an increase in CBDC-themed money laundering schemes as the digital yuan rollout continues. Per the Dushichen Newspaper Agency (va JSChina), officers in Suining, Sichuan Province, stepped in to thwart a scammer. Detectives explained that a mobile phone...

, by Tim Alper

US DOJ Seizes $9M USDT As Part Of $225M Frozen By Tether In “Pig Butchering” Crypto Scam

The US Department of Justice (DOJ) announced today that it seized $9 million worth of the stablecoin USDT related to a cryptocurrency scam known as “pig butchering”. The seized funds were part of a larger sum of $225 million worth of USDT that the issuer Tether had frozen in...

, by Trent Alan

Security Firm dWallet Labs Uncovers Vulnerability with $1 Billion of Crypto At Risk

Blockchain security firm dWallet Labs recently unveiled a vulnerability that it asserts has the potential to impact approximately $1 billion worth of crypto. The security firm published a Medium blog post on Tuesday saying that it had discovered a potential vulnerability in validators hosted by...

, by Brian Yue

Blur Founder Launches New Layer 2 Network Blast, Raises $55 Million Within Hours

Blast, Ethereum’s latest Layer 2 network, has gone live in an “early access” mode. In an X post on Monday, Blast announced its intention of becoming the inaugural Ethereum Layer 2 platform to introduce a built-in yield model. The company’s $20 million initial funding round saw participation from...

, by Brian Yue

Binance CEO Changpeng “CZ” Zhao Resigns and Pleads Guilty – What’s Going On?

Changpeng Zhao, the co-founder and CEO of Binance, has pled guilty to violating criminal U.S. anti-money laundering requirements and will forfeit his executive position at the crypto exchange. Expected to appear in Seattle federal court on Tuesday afternoon, Zhao (commonly known as CZ) will...

, by Julia Smith

Circle Launches Bridging Standard for Stablecoin Deployment on New Networks

In a first-ever announcement in the stablecoin ecosystem, Circle, makers of USDC, has released a bridging standard for its digital token. Making the announcement in a November 21 blog post, the fiat-backed stablecoin maker pointed out the need to help developers bootstrap stablecoin...

, by Jimmy Aki

Bankrupt Crypto Lending Firm Celsius Shifts Focus to Bitcoin Mining Amid SEC Feedback on Reorganization Plan

Crypto lender Celsius has amended its reorganization plan, opting for a singular focus on bitcoin mining instead of the initially proposed combination of mining and staking. In a court filing on Monday, Celsius signaled its departure from the earlier Plan that combined both staking and...

, by Hassan Shittu

Crypto Regulation News Weekly Digest: SEC Sues Kraken and IOSCO Issues Crucial Crypto Regulations

The past week brought several new major developments on the crypto regulation front. The SEC sued a major crypto exchange, IOSCO developed new international standards, Turkey pushed ahead with licensing requirements, Canada's OSFI moved to refine industry rules, and NYDFS tightened token listing...

, by Trent Alan

Tether’s $1 Billion Deposit With Britannia Financial Subsidiary At Center of Legal Battle in London’s High Court

Tether's deposit of over $1 billion with a financial services firm has come under scrutiny in London's High Court. According to a Tuesday report from The Financial Times, Tether's funds were deposited with a subsidiary of investment bank Britannia Financial, according to filings made in...

, by Ruholamin Haqshanas

OpenAI Scrambles to Prevent Staff from Leaving, Having “Intense Discussions” – Report

Top management of artificial intelligence company, OpenAI, are scrambling to “reunify” the organization following the dramatic ousting of co-founder, Sam Altman. According to a report by Bloomberg News, OpenAI's Vice President for Global Affairs, Anna Makanju, assured employees...

, by Julia Smith

Kraken Faces SEC Charges for Unlawful Crypto Trading Operations

The U.S. Securities and Exchange Commission (SEC) has added Kraken – a San-Francisco-based crypto exchange – to its hitlist of industry giants charged with a litany of securities law violations and internal control failures. In a lawsuit filed in a San Francisco court on Monday,...

, by Andrew Throuvalas

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