Regulation

California Governor Gavin Newsom has approved a cryptocurrency bill that enforces stricter regulations on businesses conducting crypto operations set to begin in 18 months.  In a statement published on October 13, Newsom declared that the bill titled the ‘Digital Financial Assets Law,’ would make it mandatory for both individuals and firms to obtain a Department

Top Stories This Week Caroline Ellison wanted to step down but feared a bank run on FTX Caroline Ellison, former CEO of Alameda Research, testified for over 10 hours this week at Sam Bankman-Fried’s trial, offering deeper details on the events that anticipated the FTX debacle in November 2022. From Ellison’s testimony, jurors learned that

A 75-minute secretly recorded audio clip of Caroline Ellison has revealed the exact moment 15 former Alameda Research staff found out the hedge fund was “borrowing” user funds from FTX.  The full-length recording, obtained by Cointelegraph, provides fresh insights into the palpable tension felt by Ellison and Alameda staff in the lead-up to FTX’s collapse.

Coinbase has doubled down on its push for a court order compelling the United States Securities and Exchange Commission (SEC) to act on the firm’s crypto rulemaking petition. Coinbase wants a mandamus issued within 30 days to compel the SEC to give an official answer on whether it will accept or deny the petition. The

Lawyers representing former FTX CEO Sam “SBF” Bankman-Fried are seeking to bring up certain information from the crypto exchange’s terms of service during witness testimonies. In an Oct. 12 filing in United States District Court for the Southern District of New York, SBF’s legal team said the motion was aimed at addressing “address certain evidentiary issues”

Ripple chief technology officer David Schwartz has countered Cardano founder’s comments about possible motives behind the United States regulators’ determination that Ether (ETH) is not a security. Cardano founder Charles Hoskinson addressed the much-debated ETHgate theory in an AMA session on Oct. 8, arguing that the government’s actions were not about corruption. ETHgate is a

The United States Securities and Exchange Commission will soon reach its deadline to appeal the court decision that ruled in favor of Grayscale Investments, forcing the regulator to review the fund manager’s application for a spot Bitcoin (BTC) fund. While many observers don’t believe the securities regulator will attempt to appeal the court’s decision, analysts

James Comer, chair of the United States House of Representatives Oversight and Accountability Committee, has threatened Securities and Exchange Commission (SEC) chair Gary Gensler with a subpoena. He wrote in the letter dated Oct. 12, that the committee will have “no choice” but to use compulsory measures to obtain documents if the SEC does not

Anonymous hackers of the now-defunct exchange FTX have been moving large amounts of assets stolen from the platform, with new transactions occurring just as the ongoing trial of FTX founder Sam Bankman-Fried gets underway. As much as 72,500 Ether (ETH) of stolen assets from FTX has awakened for the first time since the exchange was hacked

FTX’s sister hedge fund, Alameda Research, lost at least $190 million of its trading funds due to arguably avoidable scams, according to a former engineer at the firm. In an Oct. 12 post to X titled “The Hacks,” former Alameda Research engineer turned whistleblower Aditya Baradwaj claims that the firm’s “breathtaking” agility led to “major

Seven members of the United States Senate have called on the Treasury Department and Internal Revenue Service (IRS) to advance a rule imposing certain tax reporting requirements for crypto brokers “as swiftly as possible”. In an Oct. 10 letter to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel, a group of U.S. senators including

Bitfinex’s parent company, iFinex, has proposed buying back $150 million worth of the company’s shares from users who were offered them as compensation for the $71 million hack on the Bitfinex crypto exchange in 2016, according to Bloomberg. IFinex revealed its plans to buy back the shares in a shareholder letter dated Sept. 22. The digital

Digital assets should not be seen as “somehow special,” nor should action against Coinbase be seen as “novel or extraordinary,” argues an association of North American securities regulators. In an Oct. 10 filing in a New York District Court supporting the United States Securities and Exchange Commission, the North American Securities Administrators Association (NASAA) argued

At the time of publication, half of the legislative branch of the federal government of the United States was largely paralyzed following a vote ousting then Speaker Kevin McCarthy. U.S. lawmakers voted to declare the office of Speaker of the House of Representatives vacant on Oct. 3, marking the first time in the history of

Cardano founder Charles Hoskinson has likened former FTX CEO Sam “SBF” Bankman-Fried to infamous American fraudster Bernie Madoff and accused the media of giving the former FTX CEO a “free pass.” Bernard Lawrence Madoff was the mastermind behind the largest known Ponzi scam in history, estimated to be worth $64.8 billion. At one point, Madoff served

Hong Kong’s police force has raised the alarm after 11 Hong Kong-based Binance customers were targeted in a wave of phishing scams sent through text messages. Hong Kong police warned users of the scam in an Oct. 9 post to its Facebook page dubbed “CyberDefender.” “Recently, fraudsters posing as Binance sent text messages claiming that