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On May 15, the Chengdu Public Security Bureau announced the dismantling of a vast underground banking network, arresting 193 suspects across China.
These individuals were involved in illegal businesses utilizing crypto, specifically Tether (USDT).
For investors hoping for a simple way to gain exposure to Ethereum, the road seems paved with regulatory hurdles.
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Circle Internet Financial Ltd., the issuer of the USDC stablecoin, is making a strategic move to re-domicile its legal base. The company plans to move its legal headquarters from the Republic of Ireland to the United States (US).
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Once more, North Korea has demonstrated its cyber prowess, possibly undermining international sanctions by using cryptocurrencies.
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Sonne Finance, a decentralized liquidity market protocol operating on Optimism and Base, has been struck by a significant cyber attack.
Blockchain security firm Cyvers detected the attack on May 15 in the early morning of Asia.
On May 14, Vanguard, a Pennsylvania-based asset manager with over $7 trillion portfolio, announced Salim Ramji as its new CEO. Previously an executive with a decade-long tenure at BlackRock, Ramji will bring extensive experience from his former employer.
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El Salvador has once again made headlines as it announced its ownership of 5,750 Bitcoin (BTC), which is valued at approximately $353 million based on current market prices, according to Bloomberg.
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The UK government’s Insolvency Service has shut down a crypto advisory firm for accounting negligence and the loss of investors’ money. The firm seemingly claimed to help users with investments while promoting crypto schemes that resulted in millions lost.
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Raoul Pal, a well-known figure in the financial sector, provided a striking forecast for the future of cryptocurrencies.
His analysis suggests a potential rise in the market’s total capitalization to $100 trillion, spurred by global liquidity trends and technological adoption.
The Oost-Brabant district court in the Netherlands has sentenced Alexey Pertsev, co-developer of Tornado Cash, to 64 months in prison for his involvement in creating and maintaining the crypto mixing tool. The court alleges that Tornado Cash enables “criminal activity and terrorism.
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Ethereum co-founder Vitalik Buterin and PayPal co-founder Peter Thiel crowdfunded the decentralized prediction platform Polymarket with $70 million.
The investment marks an important milestone because it is a prediction platform for culture, technology, news, and politics.
Paul Grewal, Chief Legal Officer at Coinbase, questioned the due process followed by the United States Securities and Exchange Commission (SEC) against crypto companies.
The lawyer accused the SEC of “gaslighting” practices, coinciding with US Judge Robert Shelby’s assessment.
Crypto analyst Rekt Capital recently suggested that the worst might be over for Bitcoin. If so, the flagship crypto may be primed for a move to the upside, rising to as high as $100,000, which some other crypto analysts have predicted would be the case.
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