Everything web3, crypto, defi, degen
In brief Arkham Intelligence has identified a tranche of 45,000 BTC worth $5 billion linked to film piracy website Movie2K. German authorities “failed to seize” the Bitcoin as part of a confiscation in January 2024, Arkham said. In 2024, the German government sold off its seized Bitcoin for an “unprecedented” $3 billion, which has risen…
In brief The U.S. Treasury has sanctioned 19 entities across Burma and Cambodia that it says scammed Americans out of $10 billion in 2024. The action targets networks using trafficked workers forced to conduct “pig butchering” scams through fake investment platforms and romance schemes. Networks often “rebrand” when sanctioned, but sanctions “disrupt scammers’ easiest routes,”…
In brief If passed, Treasury would have 90 days to report on feasibility, legal authority, custody, and cybersecurity. The bill also calls for details on interagency transfers and balance sheet treatment of digital assets. Federal definitions could set benchmarks for custody and accounting across the industry, Decrypt was told. Two sections of a U.S. House…
In brief Shengsheng He was sentenced to 51 months for laundering nearly $37M stolen in a crypto investment scam. The funds were moved through a Bahamas-based shell company, converted to crypto, and sent to scammer wallets. The case is part of a wider DOJ crackdown on global crypto fraud and online money laundering. Shengsheng He,…
In brief Do Kwon, the founder of Terraform Labs, has been denied the ability of claiming back a $15.1 million down payment he made for a luxury Singapore apartment. The Singapore High Court awarded the developer of the property an extra month’s rent, as Kwon’s wife overstayed the lease. Luxury apartment complex Sculptura Ardmore was…
In brief SEC and CFTC leaders proposed a “24/7 Markets” policy to bring U.S. securities trading online around the clock, citing the nonstop nature of crypto and global markets. They also floated plans to ease rules for prediction markets, perpetual derivatives, and DeFi trading in line with a unified “super-app” model for finance. Critics warned…
In brief French police have freed a 20-year-old Swiss citizen held hostage in Valence. France has become Europe’s hotspot for violent crypto-related kidnappings, known as “wrench attacks.” Similar incidents are on the rise worldwide. French authorities have detained seven suspects following the kidnapping of a 20-year-old Swiss man, believed to be the latest case in…
In brief Gensler’s text messages between October 18, 2022 to September 6, 2023 are now lost. A 45-day wipe policy and a rushed reset led to a permanent deletion, the agency’s watchdog said Wednesday. The loss may affect FOIA responses, with the National Archives being notified of the loss in June. The U.S. Securities and…
In brief Lawyer John Deaton believes that the group known as the XRP Army made a difference in the SEC’s case against Ripple. In 2023, a judge issued a split ruling that XRP sales via public exchanges did not violate securities laws. The legal saga came to a close this August as all appeals were…
In brief The draft legislation attempts to close loopholes and updates rules for evolving risks. The new change-in-control threshold for crypto firms would be lowered to 10%. A consultation will be open until September 30, with regulations to be put before Parliament in early 2026. The UK’s HM Treasury released a draft of proposed changes…
