No matter the outcome, the early signs suggest a dramatic change in the way Washington approaches cryptocurrency, a shift that underscores the industry’s rapid ascent into the top ranks of donors in American politics — having helped to elect dozens of friendly candidates to Congress while contributing heavily in support of Trump’s bid for the White House. Industry executives say…
A dual Russian-Swedish national was sentenced today to 12 years and six months in prison for his operation of the longest-running bitcoin money laundering service on the darknet. According to court documents and evidence presented at trial, from 2011 through 2021, Roman Sterlingov, 36, was involved in operating Bitcoin Fog, the darknet’s longest-running cryptocurrency “mixer.” Over the course of its…
Sam Trabucco, one of Sam Bankman-Fried’s inner circle before the collapse of FTX and Alameda Research two years ago, has agreed to hand over a slew of properties, including his yacht, to creditors of the failed crypto exchange. The former co-chief executive officer of Alameda purchased the 53-foot boat for $2.51 million in March 2022, just months before leaving the…
The top US lawyer for FTX before the crypto exchange’s massive implosion has been hired by New Jersey law firm Lowenstein Sandler to launch its commodities and derivatives practice. Ryne Miller is joining Lowenstein as a partner, the firm announced on Tuesday. Miller was US general counsel for FTX, the crytpo giant whose 2022 collapse led to a fraud conviction…
Bitcoin’s record-breaking rally took the digital asset close to $90,000 for the first time and lifted the overall value of the crypto market above its pandemic-era peak as traders bet on a boom under President-elect Donald Trump. The largest token has jumped about 32% since the US election on Nov. 5, hitting an all-time high of $89,599 on Tuesday. The…
Though some of the ambitious signature elements of Gensler’s term atop the commission could end up scrapped, the SEC performs a great deal of enforcement work that is expected to continue as usual. The SEC has more than 1,500 active investigations amid the expected transition, said Sanjay Wadhwa, the regulator’s acting enforcement head. “We don’t put pencils down and say,…