Alex Mashinsky, the founder and former CEO of bankrupt crypto lending platform Celsius, has blasted the government’s 20-year “venom-laced” sentence request, declaring it a “death-in-prison sentence.” The US Department of Justice requested Mashinsky receive at least 20 years behind bars in the May 8 sentencing for his role in misleading Celsius users and profiting from…
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A Russian-Israeli citizen allegedly involved in the $190 million Nomad bridge hack will soon be extradited to the US after he was reportedly arrested at an Israeli airport while boarding a flight to Russia. Alexander Gurevich will be investigated for his alleged involvement in several “computer crimes,” including laundering millions of dollars and transferring stolen…
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Two Florida crypto bills have been removed from the legislative process in the latest blow to American state-level strategic Bitcoin reserve ambitions. Florida’s House Bill 487 and Senate Bill 550 have been “indefinitely postponed and withdrawn from consideration” on May 3, according to the Florida Senate. Florida’s legislative session adjourned on May 2 without the…
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The new “Digital Asset Market Structure Discussion Draft” introduced by House Republicans on May 5 could work to reduce the dominance of large crypto firms and promote more participation in the broader market, according to an executive from Paradigm. The discussion draft, led by the House agricultural and financial services committee chairs Glenn Thompson and…
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Samourai Wallet’s lawyers allege federal prosecutors suppressed advice that the firm didn’t need a license before they charged executives at the crypto mixing service months later. In a May 5 letter to a Manhattan federal court, lawyers for Samourai co-founders Keonne Rodriguez and William Hill said prosecutors disclosed that the US Treasury Department’s Financial Crimes…
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Acting US Attorney for the Eastern District of New York (EDNY) John Durham has departed as President Donald Trump’s pick takes control of the office. In a May 5 notice, the US Attorney’s Office for EDNY said Joseph Nocella will serve as interim US Attorney for the region for 120 days or until a Senate-confirmed…
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ChatGPT-maker OpenAI has abandoned plans to become a for-profit company and reaffirmed commitment to its nonprofit status. In a May 5 blog post, OpenAI confirmed plans to convert its for-profit business unit into a so-called Public Benefit Corporation (PBC), which would remain under the nonprofit’s control. PBCs are for-profit companies that are legally obligated to…
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The Securities and Exchange Commission’s (SEC) enforcement approach on crypto firms has left a lasting “regulatory overhang” within the industry, according to Devin Finzer, co-founder and CEO of OpenSea. Speaking to Cointelegraph, Finzer said that during Biden’s administration the agency unfairly targeted good actors in the crypto space, including OpenSea. “There’s all sorts of digital…
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US President Donald Trump’s crypto businesses are drawing increased scrutiny on Capitol Hill and beginning to influence the progress of US digital asset legislation. As Republican lawmakers in the US House of Representatives unveiled their draft of a digital asset market structure bill on May 5, Democrats prepared for a united response to Donald Trump’s…
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Key takeaways: Bitcoin price slips, but BTC dominance is on the rise. Sizable purchases by Strategy and the spot BTC ETFs highlight institutional investors’ appetite for Bitcoin. Bitcoin’s (BTC) price has dropped by 4.3% in the last three days after nearly reaching $97,900 on May 2. Despite showing resilience at the $94,000 level on May…
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