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Ex-Kansas Bank CEO Pleads Guilty to Embezzling $47M in Crypto Scheme
24.5.2024
Now-failed Heartland Tri-State Bank CEO Shan Hanes squandered millions in cryptocurrency, leading to the bank’s failure in July 2023.
The post Ex-Kansas Bank CEO Pleads Guilty to Embezzling $47M in Crypto Scheme appeared first on Cryptonews
Former Bank CEO Pleads Guilty to Embezzling $47M to Buy Crypto, Leading to Bank Collapse
24.5.2024
Former Heartland Tri-State Bank CEO Shan Hanes pleaded guilty on Thursday to embezzling $47.1 million for personal cryptocurrency purchases, leading to the bank’s collapse. From May to July 2023, Hanes executed at least 10 wire transfers from the Elkhart-based bank to cryptocurrency accounts....
FalconX Settles With CFTC for $1.8M Over Failure to Register as Futures Commission Merchant
13.5.2024
FalconX will pay $1.8 million to settle newly-announced charges from the Commodity Futures Trading Commission (CFTC) that the crypto trading firm violated commodities laws by failing to register as a futures commission merchant (FCM), according to a Monday announcement from the regulator
Digitex Founder Pleads Guilty to Failure in Anti-Money Laundering Program Implementation
8.5.2024
The U.S. Attorney’s Office for the Southern District of Florida said Todd pleaded guilty to “willfully causing” Digitex to violate the Bank Secrecy Act.
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Ore wins Solana hackathon despite disrupting Solana’s network in April
7.5.2024
A sudden rise in Ore mining transactions was one of the main culprits behind Solana’s April congestion issue where up to 70% of non-vote transactions were being rejected
Report Reveals Hundreds of US Banks at Risk of Failure Amid High Interest Rate Environment
3.5.2024
Following the dramatic bank failures last year and the recent collapse of Philadelphia’s Republic First Bank last week, an analysis by Klaros Group indicates that hundreds of U.S. banks are at risk of failure. The study reveals that smaller and regional banks are experiencing stress due...
Philadelphia’s Republic First Bank Closed by Regulators, Assets Assumed by Fulton Bank
27.4.2024
In the wake of a turbulent period for U.S. banks, the Pennsylvania Department of Banking and Securities has shut down Philadelphia-based Republic First Bank, also known as Republic Bank. The Federal Deposit Insurance Corporation (FDIC) has stepped in as receiver, with Fulton Bank assuming nearly...
OKX API Failure Causes Account Balance Confusion, Thousands of Users Affected
27.3.2024
The OKX API has hit a snag, causing account balance chaos for users in Singapore, Japan, and the US. The Rest API crash has led to errors, incorrect data, and failed trades. OKX assures users of asset safety, but the glitch has impacted the OKB token value. Read on for more details and recent...
Russian Lawmakers – Failure to Regulate Crypto Hurting Russian Economy
15.3.2024
Russian lawmakers have criticized Moscow over its “failure” to regulate the crypto sector, claiming that inaction harms the nation’s economy.
The post Russian Lawmakers – Failure to Regulate Crypto Hurting Russian Economy appeared first on Cryptonews
Avalanche Blockchain Faces Block Production Disruption Following New Inscription Wave
23.2.2024
Avalanche, a layer-1 network, has encountered a block production failure lasting nearly two hours, as reported on its status page.
The post Avalanche Blockchain Faces Block Production Disruption Following New Inscription Wave appeared first on Cryptonews
VanEck Fined by SEC for ETF Marketing Blunder
19.2.2024
VanEck has been fined $1.75 million by the Securities and Exchange Commission (SEC) after failure to disclose a social media influencer’s role in the launch of an exchange-traded fund (ETF). In March 2021, Van Eck launched a “Social Sentiment ETF” trading under the ticker “BUZZ.” The ETF tracks...
Solana Back Online After 5-Hour Service Disruption
7.2.2024
Operations on the Solana network have resumed following a minor disruption on Tuesday. Commencing at 09:53 UTC, the outage persisted for some 5 hours. The Solana team said it is investigating the root cause and will soon share its report on the matter. Block production on Solana mainnet beta...
End of the Line for OPNX, Built by Three Arrows Co-Founders Zhu and Davies
2.2.2024
OPNX has declared it will cease all activities next month. This decision comes as co-founders Su Zhu and Kyle Davies grapple with legal repercussions stemming from their previous venture’s failure, Three Arrows Capital. OPNX to Shut Down Amid Three Arrows Co-Founders’ Legal Troubles...
Billionaire Tim Draper Didn’t Expect US Government To Be ‘Paranoid’ About Bitcoin
31.1.2024
Venture capitalist Tim Draper has once more attributed the failure of Bitcoin to reach his $250,000 price target to the actions of the US government. He originally predicted Bitcoin would hit $250,000 by 2022. But he now expects it to happen by 2025. Draper admitted in a recent Bloomberg interview...
The Day Before Devs Blame 'Bloggers' For The Game's Failure
24.1.2024
The Day Before is dead and gone, but those behind the studio responsible aren’t quite done complaining yet. Apparently, according to a new statement from developer Fntastic, it’s not the developers’ fault that the disastrous game has bit the dust. The blame lies with the “bloggers” and “content...
US Lawmakers Slam SEC Over Fake Bitcoin ETF Tweet — Say ‘This Failure Is Unacceptable’
12.1.2024
U.S. lawmakers are demanding answers from the U.S. Securities and Exchange Commission (SEC) and Chair Gary Gensler regarding the regulator’s X account breach that led to a fake tweet on the social media platform announcing the approval of spot bitcoin exchange-traded funds (ETFs), a decision...
Australian Government Official to Question Regulator Over Its Failure to Warn Crypto Investors
10.1.2024
The Australian government’s assistant treasurer, Stephen Jones, has stated his intention to query the country’s securities regulator over its failure to warn investors about the risks of investing in the now-collapsed crypto investment firm Hyperverse. Jones stated that a “bunch”...
Bitcoin Price Prediction: Dips to $46,000 Amid SEC Security Flaw & ETF Turmoil
10.1.2024
In a market marked by heightened sensitivity to regulatory actions, Bitcoin’s price experienced a notable dip to $46,000, reflecting nearly 1.50% decrease on Wednesday. This latest fluctuation in the world’s premier cryptocurrency comes amid news of a security oversight at the U.S....
Australia’s Security Regulator Faces Scrutiny Over Failure to Warn Citizens of the HyperVerse Crypto Scheme
5.1.2024
Source: AdobeStock / FiledIMAGE Australia’s Assistant Treasurer Stephen Jones has expressed the intention to look into reasons why the country’s securities regulator failed to warn citizens of the potential danger posed by the HyperVerse crypto scheme. A recent Guardian report says Jones would...
New York AG Secures $22 Million Settlement From Kucoin for Unregistered Trading Activities
12.12.2023
In a recent legal development, New York Attorney General Letitia James has successfully obtained over $22 million from Kucoin, a well known crypto trading platform. This settlement arises from Kucoin’s alleged failure to register as a securities and commodities broker-dealer and...