HashFlare Founders Get Time Served in $577M Crypto Ponzi Case
The two Estonian co-founders of the collapsed crypto-mining platform HashFlare have been sentenced to time served after being found guilty in a massive $577 million Ponzi scheme. Sergei Potapenko and Ivan Turõgin, both 39, have already spent 16 months in custody in the United States, which the court ruled was sufficient punishment. U.S. District Judge […]
Coinbase Revives Stablecoin Bootstrap Fund to Supercharge USDC Liquidity in DeFi
Coinbase has relaunched its Stablecoin Bootstrap Fund, nearly six years after its first introduction, to boost liquidity for USD Coin (USDC) across the decentralized finance (DeFi) ecosystem. The initiative, led by Coinbase Asset Management, will focus on strengthening USDC’s presence and utility on multiple blockchain networks. The renewed program will initially deploy liquidity into major […]
Do Kwon Faces Jail Time After Admitting Guilt in TerraUSD Collapse
Terraform Labs co-founder Do Kwon has pleaded guilty to two criminal charges in a U.S. federal court, marking a major development in the fallout from the 2022 collapse of the TerraUSD (UST) stablecoin and its sister token, Luna. Appearing before the U.S. District Court for the Southern District of New York, Kwon admitted to conspiracy […]
Safety Shot’s Stock Crashes 50% After $25M BONK Memecoin Bet
Shares of Safety Shot, a Nasdaq-listed wellness beverage maker, plunged by about 50% after the company revealed a major shift in its financial strategy, investing $25 million of its treasury into BONK, a Solana-based memecoin. The move is part of a new partnership with BONK’s founding team, aimed at integrating the company deeper into the […]
FTX Users Strengthen Lawsuit Alleging Law Firm’s Central Role in Exchange’s Fraud
FTX customers pursuing legal action against a prominent U.S. law firm have bolstered their case, claiming the firm was a key player in enabling and concealing the alleged multibillion-dollar fraud at the now-bankrupt cryptocurrency exchange. The plaintiffs representing thousands of former FTX users filed new court documents this week asserting that the law firm provided […]