A United States federal judge has ordered the Commodities Future Trading Commission (CFTC) to serve its lawsuit to the two original founders of the Ooki decentralized autonomous organization (DAO). On Dec. 12, District Judge William Orrick ordered the U.S. regulator to serve Tom Bean and Kyle Kistner, the founders of the decentralized trading platform bZeroX…
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Sam Bankman-Fried, the former CEO of the FTX cryptocurrency exchange and founder of Alameda Research, has been arrested and taken into custody by authorities in the Bahamas. According to a letter from the Office of the Attorney General on Dec. 12, Bankman-Fried was arrested by the Royal Bahamas Police Force following formal notification from the…
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A United States banking industry regulator warned banks of the “emerging risks” of cryptocurrencies saying the sector should take a “cautious approach” and seek permission in some cases when engaging with crypto or crypto firms. Citing “dislocations” in the crypto market over 2022 the Office of the Comptroller of the Currency (OCC) highlighted what it…
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A United States financial regulator is looking to gain feedback from the banking industry about how decentralized finance (DeFi) may affect the bureau’s efforts to stop financial crime. The Financial Crimes Enforcement Network (FinCEN) said it is “looking carefully” at DeFi, while the agency’s acting director, Himamauli Das, said the digital asset ecosystem and virtual…
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The United States House Financial Services Committee Chair Maxine Waters said a subpoena is “definitely on the table” for former FTX CEO Sam Bankman-Fried, who has been requested to testify at a Dec. 13 hearing looking into the collapse of FTX. In a Dec. 8 tweet Waters said that “lies are circulating” after a report from…
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The outgoing United States House Representative Madison Cawthorn has been fined over $15,000 by the House Committee on Ethics for his promotion of a cryptocurrency in which he had an undisclosed investment. A report released by the Committee on Dec. 6 after a seven-month-long investigation found Cawthorn “improperly promoted a cryptocurrency in which he had…
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One of the leading figures convicted of being behind the $100 million crypto “Ponzi” scheme, EmpiresX, has just been handed an over four-year jail sentence by a United States court. The sentencing was handed to Joshua David Nicholas, the “head trader” of purported crypto platform EmpiresX, who is nowset to serve a 51-month prison sentence…
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Ripple’s APAC Policy Director has described the fall of FTX as “incredibly damaging” for the crypto space, but says the industry should stand the test of time if its focus shifts towards building “real utility.” In a statement sent to Cointelegraph, Ripple’s APAC policy lead Rahul Advani said he expects the FTX saga to lead…
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The CEO of fintech firm Block Earner has lashed out over the “lack of clarity” in Australia’s financial licensing regime after his company was sued by the country’s financial services regulator for providing unlicensed crypto-based investment products. The Australian Securities and Investment Commission (ASIC) announced on Nov. 23 local time that it started civil legal…
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The Bahamas Securities Commission (BSC) has frozen the assets of FTX Digital Markets (FDM) and “related parties” on Nov. 10, it also suspended FTX’s registration in the country and the Bahamian Supreme Court appointed a provisional liquidator, the BSC said in a statement shared by local media. The BSC added it was aware of “public…
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