The U.S. Justice Department is stepping up its focus on AI, with a top official warning firms and individuals who misuse the tech for white-collar crime will be at risk of a harsher sentence.
The U.S. DOJ said it would continue to seek the extradition of Do Kwon to the United States, fearing that South Korea may give the Terraform Labs founder a lighter sentence for fraud and securities violations.
Both Sam Bankman-Fried and Martin Mizrahi committed crimes they should have realized would eventually be exposed while insisting on their innocence to the end.
The Nigerian government "may impose heavy fines on Binance" but gov't official Bayo Onanuga insisted he "never said Binance had been informed about the fines or that it would definitely be $10 billion."
In an effort to salvage its integrity, Binance argued that its guilty plea shouldn't be taken as being a noncompliant exchange, noting that it never received "fair notice" from the SEC.
The three allegedly recruited Taiwanese and Chinese nationals in the United States to defraud several banks through double credit scams and laundered the funds through ‘crypto.’
Changpeng Zhao's refusal to serve jail time over violations of U.S. banking laws forced prosecutors to tag him as a flight risk, leading to the ex-Binance CEO's legal team filing an opposition.
Celsius says it has had dialogues with the Securities and Exchange Commission, which had publicly opposed its previous reorganization plan and settled on only mining BTC.
While Changpeng Zhao’s guilty plea this week came as a surprise to ordinary people, it wasn't so much for global regulators, who—for years—have been tracking and calling out Binance's illegal activities.
The New York Bankruptcy Court has cleared Celsius' restructuring plan, unlocking around $2 billion worth of digital assets to be distributed to creditors.
Former Bitwise CEOs Jake Soberal and Irma Olguin, Jr. would face a hefty penalty of $250,000 and a 20-year jail term if convicted of wire fraud, which they've been allegedly doing since January 2022.
Peter Kambolin would make trades using customer funds and then pick which accounts to assign the profits and losses, ensuring he was the ultimate beneficiary, authorities said.
