Tag Archives: cryptocurrency

NBC News reports: The Senate advanced a major cryptocurrency regulation bill Monday on a bipartisan vote two weeks after every Senate Democrat united to block it. The procedural vote on the GENIUS Act — which would establish the first regulatory framework for issuers of stablecoins, digital tokens pegged to fiat currencies like the U.S. dollar — was 66-32. Sixteen Democrats …

Ars Technica reports: Alex Mashinsky, the disgraced founder of the Celsius Network cryptocurrency bank who deceived hundreds of thousands into losing billions with the catchy slogan “unbank yourself”—was sentenced to 12 years in prison on Thursday. In December, Mashinsky pleaded guilty to securities fraud and commodities fraud. Federal prosecutors slammed him for reaping $48 million in profits while causing billions …

Fortune reports: The Department of Justice notified staff on Monday evening that the agency was disbanding a unit dedicated to crypto-related investigations. In a four-page memo reviewed by Fortune, U.S. Deputy Attorney General Todd Blanche announced the decision, stating: “The Department of Justice is not a digital assets regulator. However, the prior Administration used the Justice Department to pursue a …

Axios reports: The Federal Deposit Insurance Corporation said Friday that banks no longer need to get its prior approval before engaging in crypto-related activities, like holding digital currency assets or partnering with companies in the industry. After publishing a general caution against banks participating in the industry just two years ago, the FDIC is the latest Trump administration regulator to …

The Daily Beast reports: President Donald Trump’s memecoin $TRUMP earned $350 million in the three weeks after it launched in January, according to a new analysis from the Financial Times. Trump released the coin—a type of cryptocurrency that originated from an internet meme—just days before he returned to the White House on Jan. 20. The coin’s value quickly surged, netting …

Ars Technica reports: Musk tweets branding Dogecoin as “the people’s crypto” and envisioning the token as someday becoming “the standard for the global financial system” actually created a segment of true believers among his followers who, to this day, fully expect Musk to be a kingmaker who will crown Dogecoin as the default “currency of Earth.” It possibly helps that …

CNN reports: A businessman who pumped $75 million into the Trump family-backed crypto token finds himself in a fortunate position this week as federal securities regulators are hitting pause on their civil fraud case against him. On Wednesday, lawyers for the Securities and Exchange Commission and Justin Sun, a 34-year-old Chinese crypto entrepreneur, asked a federal judge to put the …

ABC News reports: While President Donald Trump’s proudest supporters on Capitol Hill shower him with legislation proposing putting his portrait on a $250 bill, declaring his birthday a national holiday or adding his likeness to Mount Rushmore — a new effort across the aisle isn’t as flattering — as House Democrats take aim at the president’s $TRUMP meme coin. The …

The BBC reports: Argentine President Javier Milei is facing impeachment calls – and legal action accusing him of fraud – over his promotion of cryptocurrency on social media. Milei posted on X about the $LIBRA coin on Friday, which he said would help fund small businesses and start-ups. He shared a link to buy it, causing its price to shoot …

The Associated Press reports: Argentine lawyers filed fraud charges against President Javier Milei in criminal court on Sunday for promoting a cryptocurrency on his social media, one of the lawyers told The Associated Press. On Friday, Milei posted on X about $LIBRA, a coin that he said was aimed at “encouraging economic growth by funding small businesses and startups.” He …

The New York Times reports: The curious trade came a little past 9 p.m. on Jan. 17 — a $1,096,109 bet less than two minutes after the soon-to-be president of the United States posted on his social media account that his family had issued a cryptocurrency called $Trump. In those first minutes, a crypto wallet with a unique identification code …

Business Insider reports: Joseph Bankman and Barbara Fried, the parents of disgraced FTX founder Sam Bankman-Fried (SBF), are reportedly pursuing a presidential pardon from Donald Trump, according to Bloomberg. SBF was sentenced to 25 years in prison in March 2024 after being convicted of multiple fraud charges. Despite their son’s massive fall from grace, his parents have met with individuals …

Forbes reports: In a move that perfectly encapsulates the peculiarities of our times, Donald Trump launched a meme coin on January 17th, 2025, just a few days before his presidential inauguration. Within less than 24 hours it has reached a staggering market capitalization of $4.8 billion and a fully diluted valuation of $24.3 billion. “Trump Coin” has taken the cryptocurrency …

From the Justice Department: A federal grand jury for the Eastern District of Washington has returned an indictment charging Francier Obando Pinillo, age 51, of Miami, Florida, with 26 counts of fraud in connection with running a cryptocurrency scam that defrauded investors of millions of dollars between November 2021 and October 2023. Pinillo was arraigned today at the U.S. District …

Yahoo News reports: On Sunday, President-Elect Donald Trump unveiled Bo Hines as his pick for the executive director of a presidential crypto council. In 2022, Trump endorsed Hines for a House seat representing North Carolina’s 13th District. Hines, however, lost his bid to Democrat Wiley Nickel. Hines, an ex-football player turned political figure, will take part in the Presidential Council …

Ars Technica reports: Craig Wright, the man who claims he invented bitcoin and has been filing lawsuits asserting intellectual property rights, was sentenced to a year in prison yesterday for committing contempt of court. The sentence is suspended and can be enforced if Wright continues violating court rulings—but he may be able to avoid imprisonment by staying away from countries …

Mediaite reports: Chris Hayes broke down a plan by Republican legislators to transfer billions of dollars of taxpayer money to owners of Bitcoin in exchange for their holdings. At issue is a bill introduced by Sen. Cynthia Lummis (R-WY) that, if enacted, would require the U.S. Treasury to buy one million Bitcoins over five years and be held for at …

The New York Times reports: President-elect Donald J. Trump picked Paul Atkins to serve as chair of the Securities and Exchange Commission, turning to a pro-business conservative and former regulator to run the agency that is in charge of protecting investors from fraud and malfeasance on Wall Street. Mr. Atkins, a lawyer, has been playing an active role in helping …

The Washington Post reports: Chinese cryptocurrency entrepreneur Justin Sun invested $30 million in President-elect Donald Trump’s crypto project three weeks after the election, helping Trump make a potentially hefty profit. Sun, who recently made headlines for buying, then eating, a $6 million banana art piece, is under investigation by the Securities and Exchange Commission on charges of fraud, market manipulation …

The Washington Post reports: President-elect Donald Trump is preparing the U.S. government to adopt a more permissive stance toward cryptocurrency, eyeing a roster of industry-friendly candidates for key posts while his top advisers consult crypto executives on potential changes to federal policy. By pursuing a more lenient regulatory environment, Trump aims to fulfill his campaign promise to transform the United …