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On Wednesday, US Senator Elizabeth Warren called for the Securities and Exchange Commission (SEC) watchdog to investigate whether the Donald Trump administration profited from dropping crypto enforcement against the likes of Justin Sun, Binance, and Coinbase.  In a letter to the SEC’s Inspector General Deborah Jeffrey — who is responsible for investigating “allegations of wrongdoing or misconduct involving SEC programs, operations, or personnel” — Warren asked if she could probe the agency, members of the White House, or anyone with direct ties to Trump’s family and business partners to find out if they influenced SEC crypto policy. If this turns out to be the case, Warren wants to uncover if they made a profit from any crypto policy meddling. She said, “President Trump, his closest advisors, and his family members all stand to benefit from boosts in the crypto industry.” SEC drops high-profile crypto cases in pivot Read more: ETH down 39% sinc...

Nishad Singh, the former Director of Engineering at FTX, has filed a sentencing submission in his criminal case arguing that he should avoid prison in light of his extensive cooperation and smaller role than many of the conspirators in the fraud. The documents detail Singh’s roles at Alameda Research and FTX, from almost the beginning of Alameda up until the firms plunged into a chaotic bankruptcy. They detail Singh’s narrative about how he was unaware of the misappropriation of customer funds at FTX until just months before the collapse, though this underplays his role in creating the infamous ‘allow negative’ years before.  Singh, like other executives, also emphasized that it was recommended to him that he take large, poorly documented loans from Alameda instead of liquidating his tokens to fund his activities. Among his activities described as “regrettable” was the purchase of a multi-million dollar vacation home after he was aware of the theft...

Nexo says the investigations tarnished its reputation and hampered its growth. Bulgarian authorities dropped the Nexo case in December 2023, citing a lack of evidence. In one of today’s biggest Cryptocurrency News , Nexo, a leading crypto lender that is reportedly seeking $3 billion in damage s from Bulgaria. Specifically, as Reuters reported on Wednesday, Nexo AG, a Swiss arm of Nexo Capital, says last year’s aborted criminal investigation completely destroyed the company’s expansion plans, including a potential US listing. Nexo files for arbitration with ICSID Nexo, in a filing with the World Bank’s International Centre for Settlement of Investment Disputes (ICSID), says Bulgaria’s investigation tainted its reputation. It also wrecked shareholder value. As CoinJournal  highlighted in December 2023, the Bulgarian prosecutor’s office announced a termination of the criminal investigations against Nexo and four of ...

Investigating crypto scams around Tether’s stablecoin, journalist Zeke Faux uncovers a large human trafficking ring in Cambodia. Crypto scams and exchange hacks are becoming almost a regular occurrence in the digital assets space. But a recent revelation from Bloomberg’s investigative reporter Zeke Faux shows how crypto is being used as a fishing hook to run more sophisticated and larger criminal activities – in this case – human trafficking .  Faux’s journey began with a seemingly innocuous text message from a woman named Vicky Ho. Claiming to be a divorced woman running a chain of nail salons in New York, Vicky engaged Faux in conversation before eventually steering it toward cryptocurrency investments. Faux, suspecting a scam, played along to gather more information. Vicky introduced him to a crypto-exchange app called ZBXS and instructed him to deposit Tether to start trading. Bloomberg reporter and author Zeke Faux started off looking at Tether, but en...