A cryptocurrency trader in Karachi, Pakistan, faced a terrifying ordeal on December 25, 2024. Mohammed Arsalan, aged 30, was abducted by a group of armed men and forced to transfer $340,000 from his Binance account. The suspects included seven individuals, one of whom was an officer from the Counter-Terrorism Department
A California resident, Ken Liem, has filed a lawsuit against three Asian banks for failing to prevent a cryptocurrency scam that cost him nearly $1 million. The legal filing in a California district court on December 31, 2024, alleges negligence and lack of due diligence by the banks. Liem became
Crypto’s Future Depends on New Crypto Policy David Sacks, the newly appointed “AI and crypto czar” in the United States, has a deadline to enact pro-crypto policies before the 2026 midterm elections. According to Joe Doll, general counsel for the NFT marketplace Magic Eden, there is still much work to
Solana Co-Founder Accused of Stealing Staking Rewards The Solana co-founder Stephen Akridge has been dragged into a court case filed by his ex-wife, Elisa Rossi. According to her, he stole millions of dollars worth of staking rewards from her wallet of cryptocurrencies. She states that Akridge made use of his
The UAE is witnessing a remarkable surge in cryptocurrency investments. According to a recent eToro survey, 37% of UAE investors plan to increase their crypto investments in 2025. Bitcoin and stablecoins, such as Tether, continue to dominate the market. From 2023 to June 2024, the UAE saw a $34 billion
Senator-elect Bernie Moreno, a Republican from Ohio, has been assigned to the Senate Banking Committee. Incoming Republican Senate Majority Leader John Thune announced the appointment. This committee oversees two critical agencies, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Moreno’s appointment is seen as
Phoenix Group, the UAE’s first cryptocurrency company on the Abu Dhabi Securities Exchange (ADX), has announced plans for a dual listing on Nasdaq in 2025. This strategic move aims to enhance the company’s international market presence and strengthen its position as a global leader in blockchain and cryptocurrency. Founded in
Donald Trump has chosen Bo Hines, a former college football player and Republican political candidate, to lead his newly created Crypto Council. Hines will take on the role of executive director for the Presidential Council of Advisers for Digital Assets, an initiative to support the growth of the cryptocurrency industry.
The U.S. Securities and Exchange Commission (SEC) has fined Tai Mo Shan Ltd., a subsidiary of Jump Crypto, $123 million for misleading investors about TerraUSD’s stability. TerraUSD, an algorithmic stablecoin issued by Terraform Labs, collapsed in May 2022, wiping out $40 billion in investor assets. Tai Mo Shan’s actions during
Google has updated its financial products and services policy to address cryptocurrency-related advertising in the United Kingdom. Starting January 15, 2025, advertisers must meet strict requirements to promote crypto products on the platform. The update mandates that UK advertisers offering cryptocurrency exchanges or software wallets must register with the Financial
