U.S. authorities have dismissed charges against Nader Al-Naji, the founder of the decentralized social network BitClout. Court documents show that the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) withdrew their fraud complaints against him in late February. Last year, federal prosecutors accused Al-Naji of wire fraud,
A U.S. bankruptcy court has approved liquidators of defunct hedge fund Three Arrows Capital (3AC) to expand their claim against FTX to $1.53 billion. The ruling, issued by Judge John T. Dorsey of the U.S. Bankruptcy Court for the District of Delaware, dismissed objections from FTX’s debtors and allows 3AC
The White House has confirmed the creation of a Strategic Bitcoin Reserve, a move outlined in an executive order signed by President Donald Trump. This initiative comes just one day before the administration’s first-ever crypto summit. The order directs the Treasury Department to establish an office managing the reserve, which
Bybit hackers have resumed laundering stolen funds. On March 2, they moved another 62,200 ETH, worth $138 million. This marks a significant increase in laundering activity. Of the 499,000 ETH stolen on February 21, only 156,000 ETH remains unprocessed. Analysts predict the remaining funds will be cleared within three days.
A US judge has dismissed the Securities and Exchange Commission’s (SEC) fraud lawsuit against Hex founder Richard Heart. The judge ruled that the US lacked jurisdiction over the case. On February 28, US District Judge Carol Bagley Amon dismissed the SEC’s claims against Heart. The regulator accused him of raising
U.S. spot Bitcoin exchange-traded funds (ETFs) faced a significant setback on February 25, reporting their largest-ever daily net outflow of approximately $938 million. This downturn follows a broader crypto market rout that has seen Bitcoin’s price falter, trading below the crucial $90,000 mark. In total, the 11 Bitcoin funds experienced
Ross Ulbricht, the recently pardoned founder of Silk Road, is now advocating for clemency for Roger Ver, also known as “Bitcoin Jesus.” Ver was arrested in Spain in April 2024 on U.S. charges of tax evasion, fraud, and filing false tax returns. He faces a potential 109-year prison sentence if
Several U.S. states, including California, Florida, Wisconsin, and North Carolina, are making significant moves by investing in Strategy stock formerly known as MicroStrategy as a way to gain indirect exposure to Bitcoin. With Strategy’s aggressive Bitcoin acquisition strategy driving its stock performance, state pension funds and treasuries see this as
Senator Cynthia Lummis has filed an amicus brief backing Coinbase’s legal battle with the U.S. Securities and Exchange Commission (SEC). The Wyoming Republican accuses the agency of overstepping its authority and undermining Congress’s regulatory role. Lummis criticized the SEC’s enforcement-driven approach under former Chair Gary Gensler. She described it as
Scott Bessent, a billionaire hedge fund manager and vocal crypto supporter, has officially become the 79th US Treasury Secretary. The Senate confirmed his nomination with a 68-29 vote, following President Donald Trump’s recommendation. Bessent succeeds Janet Yellen and takes office at a crucial time for US fiscal and crypto policy.
