Three people are facing trial in Germany for their roles in one of the crypto world’s most infamous scams, Onecoin. The defendants are accused of fraud, among other crimes, allegedly committed as they assisted the pyramid scheme’s mastermind, ‘Cryptoqueen’ Ruja Ignatova, who is still on the run. Lawyer and Couple Face Criminal Allegations in Germany Over Roles in Onecoin Scam…
Self-regulation will be critical in governing the rapidly changing landscape of the cryptocurrency industry in order to preserve its autonomous, decentralized nature. Months after the collapse of the Terra ecosystem that propelled crypto’s market capitalization below $1 trillion, the industry is beginning the long process of rebuilding not only retail trust but also faith in itself. Current market conditions are…
Acting United States Federal Deposit Insurance Corporation (FDIC) chairman Martin Gruenberg spoke Oct. 20 about possible applications of stablecoins and the FDIC’s approach to banks considering engaging in crypto asset-related activities. Although he saw no evidence of their value, Gruenberg conceded that payment stablecoins merit further consideration. Gruenberg began his talk at the Brookings Institute with an expression of frustration…
Nubank, one of the largest digital banks in the world, has announced it will issue its own cryptocurrency during the first half of 2023. The currency, called Nucoin, will be issued on top of Ethereum with the help of Polygon, a second layer that allows users and developers to take advantage of lower fees, and will be airdropped to all…
Crypto law firm Roche Freedman has parted ways with its embattled founding partner, Kyle Roche, following weeks of cascading controversy spurred by leaked video footage that depicted the prominent attorney bragging about spuriously suing crypto companies, using the legal process to access private data and use it to enrich both himself and blockchain company Ava Labs, one of his clients.…
The current crypto bear market has induced panic, fear and uncertainty in investors. The dire situation started when the global crypto market capitalization dropped below the $2 trillion mark in January 2022. Since then, the price of Bitcoin (BTC) has decreased by over 70% from its all time-high of $69,044.77 it reached on November 10, 2021. Similarly, the values of…
Magnus Granath, who goes by “Hodlonaut” on Twitter, has won a lawsuit in Norway against Craig Wright, court documents revealed Thursday. Wright has long claimed he is the pseudonymous Bitcoin creator Satoshi Nakamoto—but Hodlonaut and many others have publicly challenged Wright’s claims. “I won. Welcome to law,” Hodlonaut tweeted in response to the Norwegian judge’s decision—a callback to Wright’s now…
The millions oF UNI tokens delegated by Binance were a “misunderstood situation”, said Binance CEO Changpeng “CZ” Zhao on a Twitter’s post, in response to questions about 13.2 million UNI tokens delegated on Oct. 18 that made Binance the second-largest entity by voting power in the Uniswap DAO. According to CZ, a UNI transfer between internal wallets caused the automatic…
A group of Russian and Venezuelan nationals have been charged by U.S. authorities for their roles in a scheme to circumvent Western sanctions and launder money on a global scale. They have been accused of obtaining military technologies from American companies, smuggling oil, and disguising money flows for Russian oligarchs through shell companies and crypto transactions. Russians Arrested in Europe…
Sam Bankman-Fried (SBF) has written a set of suggested standards for the crypto industry “while waiting for full federal regulatory regimes,” which were posted on the FTX Policy blog Oct. 19. The post covers many of the questions facing regulators and operators, with specific reference to the United States at points. In particular, SBF outlined a plan for treating assets…
