Open Letters worth $900m & Monkey Picture Fraud. Another Big Week in Crypto.
TL;DR:
Major Headlines
US Investigators Bring Hedge Funds to Court In Binance Probe
US authorities are investigating the relationship between US-based hedge funds and Binance to examine possible money laundering violations. The US attorney's office for the Western District of Washington in Seattle had sent out subpoenas within the past few months, and directed certain investment firms to report their communications with Binance. Read more. . .
Hong Kong Prepares for Crypto Retail Trading
Authorities in Hong Kong may allow larger retail investors to trade crypto, opening up more opportunities for the trade of digital assets. Many businesses are in the midst of seeking advice to prepare for the territory's newest crypto licensing requirements. The bill was passed in December and comes into force on June 1, 2023. Julia Leung has been appointed chief executive of Hong Kong's Securities and Futures Commission (SFC). She has previously called for stricter crypto regulation. Read more. . .
Bored Ape ‘Knock Off’ Creator Arrested in NY for Alleged $2.9M NFT ‘Fraud’
Aurelien Michel accused of defrauding investors of $2.9 million by selling non-fungible tokens (NFTs). The collection, Mutant Ape Planet consists of 6,797 NFTs on Etherum and has seen its average price and sales volume decline rapidly since its launch in 2022. Read more. . .
领英推荐
Genesis Lays off 30% More of its Staff Post 3AC, FTX Collapse
Crypto-trading firm Genesis Global Trading laid off 30% more of its workforce on Thursday. The lay-offs come as the company "seeks to reduce costs and drive efficiencies". The layoffs follow a previous round in August, where Genesis cut 20% of their workforce. Read more. . .
CoinDeal Fraud Scheme Results in SEC Charging Eight for $45 million
The SEC has charged eight individuals for allegedly selling unregistered securities through CoinDeal. Neil Chandran, Garry Davidson, Michael Glaspie, Amy Mossel, Linda Knott, AEO Publishing Inc, Banner Co-Op, Inc, and BannersGo, LLC. Read more. . .
U.S Regulators Tell Banks: “Crypto Not Safe and Sound”
The Federal Reserve and two other US regulatory bodies have issued a warning to banks about cryptocurrencies. Banks should be aware of the "significant volatility and vulnerabilities" experienced by the crypto industry in 2022. Furthermore, "new age" banks that offer digital asset services globally are especially vulnerable. Read more. . .
Foreign Investors Using Local Brokers for Crypto Set to Receive
The UK government is looking to make the country a hub for cryptocurrency by offering a tax exemption to foreign investors. The exemption, introduced by the Prime Minister Rishi Sunak, will take effect on Sunday. And is meant to boost the UK's position as an investment management hub. Read more. . .
Gemini CEO Cameron Winklevoss Urges DCG’s Barry Silbert To “Reach Resolution” Over 900 Million They Owe in Open Letter
Gemini and the Digital Currency Group (DCG) are in a dispute over $900 million in funds. Gemini co-founder Cameron Winklevoss wrote an open letter to Barry Silbert, CEO of DCG. He claims DCG owes Gemini the funds as part of the Gemini Earn program. Read more. . .