Former Cred Execs Face Fraud Charges
Three ex-Cred executives were charged with wire fraud and money laundering before the company’s bankruptcy. Before the company’s bankruptcy filing in November 2020, three former executives of the defunct cryptocurrency lender Cred were allegedly involved in wire fraud and money trafficking, according to indictments. “This prosecution demonstrates our determination to keep our markets free of […]
SEC Under Trump Aimed for Aggressive Crypto Regulation
Former SEC official Jennifer Lee predicts Trump’s reelection won’t alter the crypto regulation approach, citing prior vigorous enforcement. On May 2, former SEC Division of Enforcement Assistant Director Jennifer Lee stated that the SEC’s position on cryptocurrencies will likely stay the same in the event of Donald Trump’s re-election. Lee told CNBC that the SEC […]
Vinnik Pleads Guilty in $9B Crypto Laundering Case
Russian national Alexander Vinnik pleads guilty in $9B BTC-e money laundering scheme, involving over a million users worldwide. Alexander Vinnik, a citizen of Russia, has entered a guilty plea about a money laundering scheme that utilized the cryptocurrency exchange BTC-e. The admission was rendered after the comprehensive inquiry unveiled the exchange’s involvement in extensive illicit […]
Dutch Police Arrest Suspect in $30 Million ZKasino Scam
Authorities in the Netherlands declared the arrest of a suspect in the money laundering, fraud, and embezzlement of the gaming platform ZKasino. The man, whose name was withheld, would be detained for 14 days in the Netherlands for investigative reasons, according to a statement from the Fiscal Information and Investigation Service (FIOD). The agency clarified […]
Aave V2 Community to Evaluate Small-Cap Stablecoins
A new proposal to remove stablecoins like USDP and GUSD from Aave V2 is scheduled for voting by the Aave community. The Aave community is preparing to vote on a ChaosLabs proposal for deprecating several small-cap stablecoins on Aave V2, including Paxos USD (USDP) and Gemini Dollar (GUSD). ChaosLabs states in the proposal description that […]