The sentencing dates for senior FTX executives Gary Wang and Nishad Singh have been scheduled for later this year, according to a court docket dated July 9th. Wang, the former Chief Technology Officer and co-founder of the now-defunct exchange, is set to be sentenced on November 30th. Meanwhile, Singh, who served as the former engineering
Exchanges
Paxful Inc. co-founder and former CTO Artur Schaback recently pleaded guilty to conspiracy charges related to the failure to maintain an effective anti-money laundering (AML) program. This negligence, as stated by the Department of Justice, turned Paxful into a hub for various criminal activities such as money laundering, sanctions violations, fraud, romance scams, extortion schemes,
The deputy director of the Central Bank of Nigeria (CBN), Olubukola Akinwumi, recently accused Binance of engaging in transactions that are typically reserved for authorized banks and financial institutions. This accusation came to light during Akinwumi’s testimony in a lawsuit brought forward by the Economic and Financial Crimes Commission (EFCC) against Binance and its executive,
Taiwan Mobile, the second-largest telecom operator in Taiwan, has recently made a significant move by applying for a license to operate as a Virtual Asset Service Provider (VASP). This decision has been confirmed by the Financial Supervisory Commission, listing Taiwan Mobile as the 26th VASP in the country. With Lin Zhichen named as the person
Recently, Binance.US, the American branch of the global cryptocurrency exchange Binance, faced a setback in its legal battle with the Securities and Exchange Commission (SEC). Despite its efforts to dismiss the SEC’s allegations, the US District Court ruled in favor of the SEC, allowing the case to move forward. This decision came after the Court
Sony Group, a prominent conglomerate in Japan, has recently acquired Amber Japan, leading to the launch of a new crypto exchange. The WhaleFin exchange, now renamed S.BLOX Co, will undergo a redesign of its UI screen and the release of a new app to enhance user experience. Sony plans to expand the supported currencies and
Jesse Powell, the founder of Kraken, made headlines recently with his $1 million donation, mainly in Ethereum, to support former President Donald Trump’s re-election bid. Powell stated that his donation aimed to help the US maintain its leadership in blockchain technology. He expressed his excitement to unite with other leaders in the crypto community to
FTX, a prominent cryptocurrency exchange, recently received approval from a US bankruptcy court to proceed with a liquidation plan that involves settling customer claims in cash. This decision has sparked controversy among customers who are dissatisfied with the proposed payment amounts based on crypto prices at the time of FTX’s collapse in November 2022. Despite
In a recent development, a federal judge in California expressed his inclination to allow the US Securities and Exchange Commission’s (SEC) lawsuit against Kraken to move forward. Judge William Orrick indicated that he was leaning towards denying Kraken’s request for dismissal, raising uncertainties about the exchange’s legal standing in the case. During the oral arguments
Binance, the leading cryptocurrency exchange globally, has been facing a series of regulatory challenges in various countries like India, Canada, and the United States. India’s Financial Intelligence Unit recently imposed a hefty fine of 188.2 million Indian Rupees, approximately $2.2 million, on Binance for failing to comply with the country’s Anti-Money Laundering (AML) regulations. The
