Silk Road Seller Pleads Guilty to Money Laundering $19 Million With Bitcoin

A former narcotics trafficker pled guilty to charges that he laundered $19 million in profit through Silk Road. Prosecutors with the Southern District of New York announced a plea deal with Hugh Brian Haney on Thursday, adding another postscript to the infamous dark web marketplace’s history. According to a press release, Haney was accused of […]

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What’s Next in the Securities Case Against Ripple Over XRP

The Takeaway: Monday is the deadline for an XRP holder to file a response to Ripple’s motion to dismiss his suit against the company. That motion largely sidestepped the plaintiff’s argument that Ripple sold XRP as an unregistered security, instead contesting the case on procedural and evidentiary grounds. The suit is unlikely to settle the […]

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Reggie Middleton Reaches $9.5 Million SEC Settlement Over ICO Fraud

The U.S. Securities and Exchange Commission said it has reached a settlement with Reggie Middleton, organizer of the fraught $14.8 million Veritaseum (VERI) initial coin offering (ICO). In a filing with the New York Eastern District Court, dated Oct. 31 and published today, Middleton agreed to the consent decree of the final judgment, without having to […]

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Crypto Capital Principal Indicted on Fraud, Confirming Bitfinex Allegations

Crypto Capital principal Oz Yosef was indicted on three criminal counts by the U.S. Attorney’s Office of the Southern District of New York Wednesday, Oct. 23, confirming statements made by Bitfinex’s general counsel Stuart Hoegner Friday. According to court documents, Yosef, aka Oz Joseph, has been indicted on conspiracy to commit bank fraud, bank fraud […]

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Former World Gold Council Exec Develops New Bitcoin ETF

The former managing director of the World Gold Council and the portfolio manager behind SPDR Gold Shares is developing a bitcoin exchange-traded fund (ETF) with boutique asset manager Kryptoin Investment Advisors. The Cayman Islands-based firm has filed an initial registration statement with the U.S. Securities and Exchange Commission (SEC). The fund, in development for two […]

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CME Says Bitcoin Futures Gaining Interest From Big Investors

CME Group, the Chicago-based exchange operator, said its bitcoin futures contracts grew in popularity last quarter, with the number of open contracts up 61 percent from a year earlier because of growing demand from institutional investors. Open interest, or the number of outstanding positions, rose to 4,629 contracts, up from 2,873 in the third quarter […]

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US Lawmakers Call on Payment Giants to Exit ‘Chilling’ Libra Project

Two U.S. Senators have publicly asked Visa, Stripe, and Mastercard to remove themselves from the Facebook-led cryptocurrency payment network, Libra. Senator Brian Schatz (D-HI) and Sherrod Brown (D-OH) sent three separate letters Tuesday to Visa CEO Alfred F. Kelly Jr., Stripe CEO Patrick Collinson and Mastercard CEO and president Ajaypal Singh Banga over the firms’ participation in […]

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How Celsius Turned Its Crypto ICO Into a Billion-Dollar Lending Business

The Takeaway: Crypto lending startup Celsius raised $50 million in a token sale in 2018. Lending volume has surged since then, with 10,415 Celsius users taking out fiat loans after locking in crypto collateral. BitGo confirmed to CoinDesk that it held $1 billion worth of crypto deposits from Celsius over the past year. CEL tokens […]

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Dark Web Drug Dealer to Forfeit Millions of Dollars in Illicit Crypto Earnings

A man has been sentenced in San Diego, California, for conspiring to sell drugs over dark web markets for cryptocurrencies. Thirty-nine-year-old Sky Justin Gornik had pleaded guilty to using a number of marketplaces such as Alpha Bay, Trade Route, Abraxas, Evolution, Outlaw Market, and Dream Market to deal in fentanyl, carfentanil, ketamine, oxycodone, amphetamine and other […]

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A Big Four Audit Firm Lost $1 Million In Bitcoin. Victims Are Losing Patience

The Takeaway: QuadrigaCX’s former users are running out of patience with Miller Thomson and EY, the court-appointed companies tasked with recovering their missing funds. The users want more transparency into EY’s investigation of Quadriga’s missing funds, as well as a better understanding of how the audit firm accidentally lost 103 bitcoin earlier this year. Some […]

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