US authorities unsealed the indictment against Jonathan Spalletta, accusing him of carrying out two hacking operations targeting Uranium Finance during April 2021. According to authorities, the defendant exploited weaknesses in smart contracts to steal millions, leading to the shutdown of the decentralized exchange’s operations. US Attorney Jay Clayton said, “Stealing
The United States Department of the Treasury is looking at artificial intelligence technology to help prevent cryptocurrency fraud in digital markets. The officials pointed to increasing financial losses due to cryptocurrency scams. The victims of cryptocurrency fraud reported financial losses of over nine billion dollars in cryptocurrency fraud in the
The former president of the United States, Donald Trump, urged lawmakers to enact the U.S. Clarity Act, which links the economic prowess of the country with clear crypto rules. In a speech to lawmakers and industry representatives, Trump urged them to enact the Clarity Act to bring clarity to crypto
A U.S. federal court ordered Paxful Holdings Inc. to pay a $4 million criminal fine for its past unlawful operations involving a cryptocurrency exchange platform. The U.S. Justice Department stated that Paxful, a peer-to-peer exchange for Bitcoin, allowed users to conduct illicit transactions for prostitution, fraud schemes, and money laundering.
Eleven major U.S. public pension funds are now reporting substantial unrealized losses on microcap Strategy shares linked to Bitcoin. Their combined holdings of almost 1.8 million Strategy shares are currently worth $240 million. This is down from $577 million, which indicates a substantial drawdown. Market information reveals that this represents
Elon Musk is once again sparking serious debate over the future of the U.S. economy—and possibly signaling stronger support for Bitcoin. His recent posts on X (formerly Twitter) have stirred public concern over America’s growing national debt and what it might mean for the future of the U.S. dollar. It
United States is accelerating the process of creating a clear regulatory framework under Trump’s Presidency. The Securities and Exchanges Commission is hosting a series of roundtables to discuss on a wide variety of topics focusing on crypto regulation. Its latest announcement revealed the agenda, date, time, and primary focus of
The US federal judge paused the ongoing lawsuit against the SEC as there is a new leadership in place after Trump’s re-election. Attorneys from 18 US states filed this case in 2024 to fight the harsh stance of the SEC towards crypto firms in the country. Since the SEC is
The US government is speeding up its process of regulating the crypto space. It’s only been a couple of days since the STABLE Act was passed to regulate stablecoins. Today, the SEC came up with another announcement, which is also a major reform to stablecoin regulation. The latest Bloomberg article
The vision of bringing clear regulatory policies for crypto, in particular for stablecoins, has finally become a reality today. Stablecoins are now a step closer to regulation, with 32 votes in favor of the STABLE Act bill. This acts as a significant step forward to regulate the broader crypto industry.
