Sam Bankman-Fried’s legal team has slammed the prosecution’s sentencing recommendations as “disturbing.” Draconian Punishment In a letter to Judge Lewis A. Kaplan, Bankman-Fried’s attorneys argue that the proposed 40-50-year sentence is “draconian” and portrays their client as a “supervillain.” Distorted Reality The lawyers accuse the government of distorting the facts to support its “loss” narrative…
SEC Sanctioned for Inaccurate Statement A federal judge in Utah has penalized the U.S. Securities and Exchange Commission (SEC) for making a false statement in a crypto fraud case. Allegations of Fraud In July 2022, the SEC accused Digital Licensing Inc. (DEBT Box) of selling fake “node licenses” to investors, promising they would generate crypto…
Despite Bitcoin’s recent dip, CryptoQuant CEO Ki Young Ju believes the bull market is far from over. Correction Underway Ju says Bitcoin is currently undergoing a short-term correction after reaching an all-time high of nearly $74,000 in March. He warns that the correction could continue down to $51,000, based on historical trends. Bull Market Not…
The Verdict A British court has found Jian Wen, 42, guilty of laundering Bitcoin linked to a massive fraud scheme from China. The scheme, orchestrated by a fugitive, involved nearly $6 billion. Wen played a key role in concealing the funds from 2017 to 2022. Bitcoin Seizure and Implication In 2018, London police seized over…
Where Is Kyle Davies? Kyle Davies, co-founder of the bankrupt crypto hedge fund Three Arrows Capital (3AC), recently spoke on the Unchained Podcast about his whereabouts and the aftermath of 3AC’s collapse. After 3AC’s bankruptcy in 2022, Davies and his co-founder, Su Zhu, were sentenced to four months in prison for failing to cooperate with…
Trading Volume Soars US spot Bitcoin Exchange-Traded Funds (ETFs) have reached a significant milestone, with cumulative trading volume exceeding $150 billion as of March 19. This growth is impressive given that these ETFs have only been available for less than three months. Market Challenges Despite this milestone, the market has faced challenges. Record net outflows…
Retail vs. Institutional Investors Goldman Sachs’ head of digital assets, Mathew McDermott, says that while retail investors have been driving Bitcoin’s price up, institutions are now entering the market. This shift shows that cryptocurrencies are becoming more accepted as a legitimate investment. Bitcoin’s Price Dip Bitcoin’s price has recently dropped by 18%, but McDermott remains…
BitMEX founder Arthur Hayes is optimistic about three crypto projects in this bull market: 1. Pendle (PENDLE) Hayes sees potential in Pendle, a DeFi project that tokenizes future yields. He believes it could become a major derivatives exchange in the crypto space. 2. Filecoin (FIL) Hayes is bullish on Filecoin, a peer-to-peer file storage network….
Binance CEO Richard Teng has predicted that Bitcoin (BTC) could reach a new record high by the end of the year, according to Bloomberg. Bullish Outlook Teng believes Bitcoin could surpass $80,000, exceeding his previous estimate of $80,000 by 2024. He attributes this optimism to declining supply and sustained demand. Market Corrections Teng acknowledges that…
A mysterious trader has raked in millions of dollars in profits in just 12 minutes by trading a new memecoin on the Solana network. Quick Profits According to blockchain tracker Lookonchain, the trader spent nearly $2 million to buy 70 million Slerf (SLERF) tokens. They then sold them for $5 million within minutes, netting a…
