Everything web3, crypto, defi, degen
In brief An Department of Justice investigation into Kraken co-founder Jesse Powell has been dropped, he said. Feds had raided Powell’s home back in 2023 and seized dozens of devices belonging to him. Powell said on X that the investigation never made sense to him. The U.S. Department of Justice has dropped an investigation into…
In brief Four people in London were convicted for kidnapping a Belgian barber after he boasted online about a crypto fortune he didn’t actually have. The gang ambushed him with weapons, but after discovering his wallet held only $9, they extorted $2,700 from his bank instead. The case highlights rising “wrench attacks,” where criminals physically…
In brief Roman Storm’s lawyers said Monday they may file a motion for a mistrial, due to alleged holes in the prosecution’s case against their client. The U.S. government has so far failed to prove that Tornado Cash was used in some of the cybercrimes recounted by their witnesses at trial, according to Storm’s lawyers.…
In brief Thailand’s SEC proposes easing knowledge test rules for retail crypto investors, allowing them to skip repeat tests if already passed, replacing the current 3-month retesting requirement. New rules would mandate suitability tests for all digital token investors, reviewed every two years, to ensure alignment between investor risk tolerance and product risk. The proposed…
In brief Three states have passed laws enabling Bitcoin reserves to date. Several efforts in other states have failed over concerns about volatility and public fund safety. Proposals are still pending in 17 more states as crypto advocates push for wider adoption. As random companies snap up Bitcoin and Donald Trump hails the creation of…
In brief A 74-year-old man disappeared in May after leaving home without his phone. Authorities believe the disappearance is linked to the man’s family’s crypto fortune. They’ve found evidence of fraudulent activity and impersonation of him to communicate with family members. The man’s son, a hedge fund executive, believes someone stole his father’s identity and…
In brief President Trump signed the GENIUS Act into law Friday afternoon, in a White House ceremony attended by numerous crypto industry leaders. The bill establishes a framework for issuing and trading stablecoins in the United States. Banks, traditional finance players, and retail giants that have expressed interest in stablecoins now have the green light…
In brief A former UK National Crime Agency officer, Paul Chowles, was sentenced to five and a half years for stealing 50 Bitcoin during a 2017 investigation into Silk Road 2.0. The stolen BTC’s value has risen from $77,000 at the time of the theft to over $5.6 million. Chowles used a mixing service, Bitcoin…
In brief Hungary’s updated criminal code imposes penalties up to 8 years in prison for unlicensed crypto exchange operators and up to 5 years for large-scale traders. The law targets illegal operations while allowing compliant exchanges to continue operating, though unclear implementation details have created market uncertainty. EU-licensed exchanges will be able to operate in…
In brief Shane Donovan Moore, a former semi-pro rugby player, was sentenced to 30 months in prison for defrauding over 40 investors out of $900,000 through a fake crypto mining scheme. Moore promised 1% daily returns from mining equipment that didn’t exist, using investor money to fund a lavish lifestyle and repay earlier victims in…
