Prosecutors are exaggerating the amount of access FTX founder Sam Bankman-Fried really has to defense material, his attorneys said in a memo late Friday. Bankman-Fried continues to lack decent internet access when produced to a cell block at the Southern District of New York courthouse, and has not had anywhere near the amount of air-gapped […]
NFT Video Startup Glass Falls to Crypto Bear Market
Glass, a venture-backed crypto startup that sought to monetize NFT videos, is falling prey to the bear market; its founders are walking away. Co-founders Sam Sends and Varun Iyer posted on X (formerly Twitter) Friday that they will “end active development” of Glass Protocol after determining the demand for digital, tradeable video NFTs was too […]
Indian Crypto Exchange CoinDCX Is Cutting 12% of Jobs as Bear Market, Taxes Take Their Toll
CoinDCX, one of India’s most prominent cryptocurrency exchanges, is cutting about 12% of its staff as the prolonged bear market hits revenue, it announced on Tuesday. The exchange is laying off 71 employees whose roles do not fit into current business priorities, a company spokesperson told CoinDesk. The company has about 590 employees. Several teams […]
Thailand Warn Meta to Rein In Crypto Scams or Face Expulsion
Thailand’s Ministry of Digital Economy and Society (DES) has told Meta’s (META) Facebook to curb the number of fraudulent crypto investment scams being advertised on the site, or risk being expelled from the country. These fraudulent ads have affected more than 200,000 people, according to a statement published on the Ministry’s website. Chaiwut Thanakmanusorn, the […]
Saxo Bank to Comply With FSA Orders To Dispose of Its Crypto Assets
The Financial Supervisory Authority (FSA) of Denmark has demanded that the Investment Bank Saxo dispose of its cryptocurrency holdings. Meanwhile, the FSA statement cited Section 24 of Denmark’s Financial Business Act, which states that Saxo Bank’s crypto activity “lies outside of the legal business area of financial institutions.” As per the statement, the Danish FSA […]
Prime Trust Has ‘Shortfall of Customer Funds,’ Nevada Regulator Says
Crypto custody firm Prime Trust has “a shortfall in customer funds” and was unable to meet all withdrawal requests this month, the Nevada Department of Business and Industry said Thursday. The Department’s Financial Institutions Division (FID), which oversees state-regulated trust companies, ordered Prime Trust to cease all activities which violate Nevada regulations, alleging that the […]
OPNX Files Defamation Lawsuit Against Mike Dudas, Issues Justice Tokens
OPNX, the bankruptcy claims exchange tied to the founders of defunct hedge fund Three Arrows Capital, has filed a defamation lawsuit against venture capitalist Mike Dudas, according to Three Arrows co-founder Kyle Davies and New York State court records. In a summons notice filed in early June, OPNX alleged Dudas published defamatory comments about the […]
Iran set to freeze bank accounts of women who refuse to wear a hijab
A member of the Iranian parliament has told local media the government plans to impose new punishments on women who do not wear a hijab in public, with individuals who refuse to comply after two warnings possibly having their bank accounts frozen. Hossein Jalali, a member of the Cultural Commission of the Islamic Consultative Assembly, […]
Sam Bankman-Fried hires defense attorney as US authorities probe FTX: Report
Former FTX chief executive officer Sam Bankman-Fried has reportedly hired Mark Cohen, a former federal prosecutor, to act as his defense attorney. According to a Dec. 6 report from Reuters, Bankman-Fried’s spokesperson Mark Botnick said the former FTX CEO has retained Cohen amid a flurry of civil litigation from investors in the crypto exchange and […]
California files order against Nexo interest account, says it’s 8th state to take action
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Japan preparing amendment to enforce FATF travel rules on crypto by May 2023: Report
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