The U.S. Securities and Exchange Commission (SEC) is seeking a hefty $5.2 billion in penalties from Terraform Labs and its co-founder Kwon Do-hyung, following a court ruling that found them liable for misleading investors in crypto assets.The SEC filed a motion in a New York court on April 19th requ
NEW YORK -- Anxiety is rising within the cryptocurrency industry as the deadline for the U.S. Securities and Exchange Commission's (SEC) decision on a spot Ethereum ETF nears in May.According to a report on NewsBTC yesterday, data from Polymarket, a leading prediction market platform, suggests a mer
A group of investors in the collapsed cryptocurrency exchange FTX is considering dropping their civil lawsuit against former CEO Sam Bankman-Fried, according to a report from Bloomberg on April 19, 2024.In exchange for dismissing the suit, the investors seek Bankman-Fried's cooperation in their ongo
In a bipartisan effort, Senators Kirsten Gillibrand (D-N.Y.) and Cynthia Loomis (R-Wyo.) introduced a bill on Wednesday that would grant federal and state regulators the authority to oversee algorithmic stablecoins, a type of cryptocurrency designed to maintain a consistent value.The legislation ref
President Biden has announced substantial subsidies, totaling close to 9 trillion won, for Samsung Electronics' semiconductor production in a strategic move. The President emphasized that this initiative aims to fortify the nation's technological prowess and enhance U.S. national security.Strengthen
Persistent inflation has wrenched expectations for Federal Reserve interest rate cuts this year. After three months of core inflation exceeding market forecasts, predictions of a rate decrease have been significantly downgraded.Market participants now anticipate a maximum of two cuts in 2024, with a
James Vlad, former President of the St. Louis Federal Reserve Bank and known for his hawkish stance favoring monetary tightening, has projected that the U.S. Federal Reserve will implement three interest rate cuts this year, citing the nearing of the central bank's inflation target.In an interview w
The legal battle between Ripple Labs and the Securities and Exchange Commission (SEC) hangs in the balance. Recent reports indicate informal discussions between the two parties in New York, hinting at a possible settlement before the trial resumes in mid-April.Ripple's Stance: Confidence from a Part
The United States House of Representatives has banned its employees from using Microsoft's CoPilot, an artificial intelligence tool that assists with coding. The ban cites concerns about potential data leaks.The decision, announced in a staff memo on Friday by Catherine Szpindor, the House's Chief A
NEW YORK -- Sam Bankman-Fried, the disgraced founder of FTX, the once-booming cryptocurrency exchange, was sentenced to 25 years in prison on Wednesday by a federal judge in New York. The judge also ordered the confiscation of $11.02 billion, roughly equivalent to 14.877 trillion won, in assets acqu
The legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) inches closer to a conclusion, with the SEC seeking a hefty $2 billion fine from the blockchain company.On March 27th, the SEC filed a motion requesting $876 million in Ripple's profits from allegedly selling
Cryptocurrency exchange KuCoin experienced a significant outflow of digital assets exceeding $1 billion in the 24 hours following its indictment by the U.S. Department of Justice on money laundering charges, according to a report by CoinDesk on March 27th.Citing data from blockchain analytics firms
Uncertainty surrounding the classification of Ethereum as security has cast a shadow over the launch of custody services for the cryptocurrency by Prometheum, the first special-purpose broker-dealer for digital assets in the United States.In a letter sent on Monday, 48 House Republicans, led by Repr
The first U.S. trial on cryptocurrency fraud charges began Monday in the Southern District of New York. Kwon Do-hyung, the co-founder of Terraform Labs at the center of the case, was absent from proceedings.The Securities and Exchange Commission (SEC) alleges that Kwon and Terraform Labs misled inve
As the countdown ticks toward the deadline for former President Donald Trump to deliver a staggering 600 billion won deposit to the court for appeal, American media swirls with speculation over potential asset seizures by prosecutors.Citing reports from CNN and Politico on March 24, it's revealed th
The United States Department of Justice, along with attorneys general from 16 states, filed an antitrust lawsuit against Apple on March 21st. The lawsuit targets Apple's business practices, which the government alleges create an illegal monopoly in the smartphone market.Central to the case is Apple'
The U.S. Securities and Exchange Commission (SEC) is reportedly investigating the Swiss Ethereum Foundation, which has reignited the debate over whether Ethereum (ETH) should be classified as a security.The investigation, first reported by CoinDesk and Bloomberg Tuesday, comes amid a broader SEC cra
NEW YORK -- Federal prosecutors in Manhattan are seeking a prison sentence of 40 to 50 years for Sam Bankman-Fried, the disgraced founder of cryptocurrency exchange FTX. Bankman-Fried was convicted in November on charges of embezzling billions of dollars in customer funds.In a court filing obtained
In a significant regulatory move, U.S. investment titan JP Morgan is facing a hefty $350 million fine, which highlights its failure to adequately monitor billions of transactions.Reports from the Wall Street Journal (WSJ) and the Associated Press on Mar.14 (local time) unveiled the Office of the Com
In a significant backlash, the mining industry vehemently opposes U.S. President Joe Biden's ambitious plan to introduce an energy consumption tax targeting cryptocurrency miners in the upcoming fiscal year's budget.As reported by Daily Coin on the 12th (local time), the Biden administration is gear