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The SEC has concluded its investigation against the crypto exchange Gemini, owned by the Winklevoss twins, without filing charges, despite significant legal costs for the company
Gemini Trust, owned by the Winklevoss twins, announced that an investigation conducted by the U.S. Securities and Exchange Commission (SEC) has concluded with no further action against the crypto exchange. The SEC stated that it will not take any action against the company, as evidenced by a letter dated February 24. Winklevoss emphasized that the investigation resulted in significant financial losses for Gemini and expressed dissatisfaction with the length and consequences of the process.
Russian entrepreneur Alexey Andriunin has been extradited to the USA on charges of market manipulation in cryptocurrency markets and fraud with client funds
Alexey Andriunin, the founder of the cryptocurrency company Gotbit, was extradited from Portugal to the USA on charges of market manipulation in the cryptocurrency markets. From 2018 to 2024, his company used the "your-trading" method to artificially inflate the trading volumes of cryptocurrencies, allowing them to appear on CoinMarketCap and major exchanges. Andriunin and his employees received tens of millions of dollars from clients for these actions. He is charged with fraud and market manipulation, which could lead to a lengthy prison sentence.
The UK introduces a bill for the seizure of cryptocurrency assets obtained through criminal means, expanding the powers of the Crown Court
The UK government has introduced the Crime and Policing Bill, which strengthens measures for the confiscation of criminal proceeds obtained through cryptocurrency. It includes new procedures for evaluating cryptocurrency and expands the powers of the Crown Court to issue orders for the seizure and destruction of cryptocurrency assets. The bill also stipulates that in case of cryptocurrency destruction, its value will be assessed at the time of destruction, taking into account potential changes. This is aimed at effectively managing and recovering criminal assets.
Bank of America is preparing to launch a stablecoin pegged to the US dollar, awaiting legislative approval, and competing with major players in the cryptocurrency market
Bank of America plans to launch a stablecoin pegged to the US dollar after receiving approval from US lawmakers. The bank's CEO, Brian Moynihan, stated that stablecoins could become an important tool similar to traditional financial products. The new stablecoin will be fully backed by dollars and linked to deposit accounts, which will ensure easy conversion. The bank expects that legislative changes in the US will allow the project to go to market in the near future, which will intensify competition with players like Circle and Tether.
MetaMask expands support for fiat onramps to 10 blockchain networks, simplifying the process of exchanging cryptocurrency for traditional money and improving accessibility for beginners
Pump.fun reports a hack of its X account: hackers are spreading fake tokens and threatening to delete the platform if the market capitalization reaches $100 million
Avalanche and Rain have introduced a crypto card for payments in stores and online using cryptocurrencies (USDC, USDT, wAVAX, AVAX) through the Visa® network worldwide
The Ethereum Foundation donated $1.25 million for the legal defense of Tornado Cash developer Alexey Percev in connection with his conviction for money laundering in the Netherlands
Tron announced the launch of the "Gasless" feature for USDt transfers, allowing transactions without a fee, after the rise in network fees at the end of 2024
Hackers who hacked the Bybit exchange laundered 113 million dollars in 24 hours and continue to hold 900 million dollars, using Maya Protocol and the North Korean Lazarus group
PayPal is implementing PYUSD for small businesses, offering faster and cheaper payments with the potential to expand the customer base
Hackers are spreading malware through fake projects on GitHub to steal cryptocurrency and personal data, warns Kaspersky
The U.S. Department is investigating the incident with the video criticizing the ties between Trump and Musk shown at the HUD headquarters, amid Musk's ultimatum to federal employees
At the headquarters of the U.S. Department of Housing and Urban Development (HUD), a video generated by artificial intelligence was shown, depicting Donald Trump licking Elon Musk's feet. The video, criticizing the close ties between the president and the billionaire, was accompanied by the caption "Long live the real king," referring to Trump's post about canceling the toll plan for New York City traffic. HUD stated that taxpayers' money had been wasted and promised an investigation and the firing of those responsible. This coincided with Musk's ultimatum, demanding reports from federal employees.
The SEC ends the investigation against Uniswap Labs, dropping charges of unregistered activity, which supports the development of DeFi technologies in the US
The SEC has closed the investigation against Uniswap Labs, dropping charges of unregistered activity. The decision was made after the company received a notice in April 2024 regarding potential charges for operating as an unregistered broker and securities exchange. Uniswap expressed gratitude to the new SEC leadership for a more fair approach that supports the development of DeFi technologies. This decision is part of a broader review of crypto regulation in the US following the leadership change at the SEC.
Bybit resumed operations in India after registration with authorities, restoring services for users after the fine for violating anti-money laundering legislation
Cryptocurrency exchange Bybit has resumed its operations in India after registering with local authorities. This happened after the Indian Financial Intelligence Unit fined the company 9.27 crore rupees for violating the Prevention of Money Laundering Act. The exchange had suspended its services in India citing issues with compliance with local requirements, including mandatory registration. Bybit continues to operate on 1174 markets, serving over 60 million users globally.
The Financial Intelligence Unit of South Korea suspends the operation of the Upbit exchange for three months due to violations of cryptocurrency regulations
The South Korean cryptocurrency exchange Upbit was temporarily suspended for three months by the decision of the Financial Intelligence Unit (FIU). The sanctions involve a ban on new deposits and withdrawals for new users due to violations related to working with unregistered crypto asset providers. The exchange has already taken measures to rectify the situation and hopes for a change in the sanctions conditions in the future. Existing users can continue to use all available services. The current trading volumes on the platform have decreased by 70 percent.
Best news of the last 10 days
OKX has agreed to pay over $500 million due to violations of U.S. laws by serving customers without a license and failing to comply with anti-money laundering requirements
The EU introduces the 16th sanctions package against Russia, including the cryptocurrency exchange Garantex and expanding restrictions on Belarus, strengthening the fight against circumventing international sanctions
A federal judge blocked DOGE’s access to personal information of citizens, claiming it violates data protection laws, after a lawsuit by unions and government benefits recipients
The Nigerian government is suing Binance for $81.5 billion, accusing the company of economic losses and failure to pay taxes for 2022-2023
Infini loses $50 million due to a hack by a developer with left administrative rights, using a vulnerability in the contract and cryptocurrency transfers
The payment system Infini lost $50 million due to a hack carried out by a developer who left administrative rights after completing the project. Using these rights, the attacker transferred funds to USDC through a contract created in November 2024, then exchanged them for Dai and transferred them into 17,696 ETH. The Infini team did not suspend withdrawals, promising compensation to users in the worst-case scenario. This incident occurred after the hack of the Bybit cryptocurrency exchange, which lost $1.4 billion.
DFSA recognizes USDC and EURC as the first stablecoins within Dubai's crypto regulation, opening new opportunities for business in DIFC and supporting the growth of the cryptocurrency sector in the UAE
The Dubai Financial Services Authority (DFSA) has recognized stablecoins USDC and EURC from Circle as the first stable tokens under its cryptocurrency regulation. This allows companies in the Dubai International Financial Centre (DIFC) to use these tokens for payments and asset management. This decision contributes to the further development of the crypto industry in the UAE, where new laws and licenses regulating the cryptocurrency market have also been introduced. Unlike Circle, Tether is actively working in Abu Dhabi, integrating USDT into the real estate market.
DekaBank launches cryptocurrency trading and custody services for institutional clients, receiving a license from BaFin and adhering to security and regulatory requirements
DekaBank, one of the largest German banks with assets of 377 billion euros, has started offering cryptocurrency trading and custody services for institutional clients. The bank has received authorization from Germany's Federal Financial Supervisory Authority (BaFin) to provide cryptocurrency custody services in compliance with German banking regulations. As part of the new offering, the bank emphasizes regulatory compliance and security. This aligns with the latest trends in Germany's financial sector, where other major institutions are also beginning to engage with cryptocurrencies.
Brazilian Dover Braga was extradited to the USA for the $290 million cryptocurrency Ponzi scheme, facing up to 20 years in prison for fraud and tax evasion
Brazilian Dover Braga was extradited to the USA on charges of organizing a Ponzi cryptocurrency scheme worth $290 million. He led the platform Trade Coin Club (TCC), which promised high returns from Bitcoin trading, but in reality, it was a scam where the money from new investors was used to pay off the old ones. Braga stole at least $50 million and concealed income from tax authorities. He faces up to 20 years in prison. The trial is set for April 28, 2025.