Sam Bankman-Fried has bail revoked, ordered to jail; the SEC delays decision on a spot Bitcoin ETF; and the SEC moves to appeal on Ripple’s case. Top Stories This Week Judge revokes Sam Bankman-Frieds bail, remands him to custody FTX’s former CEO, Sam SBF Bankman-Fried, had his bail revoked by a federal judge in response...Continue Reading

If approved, the legislation would place crypto assets held by Brazilians overseas subject to the same tax rules governing traditional assets. Brazilian lawmakers are moving forward with a legislation that would raise taxes on cryptocurrencies held overseas. According to local reports, a congressional committee has approved amendments to a bill that recognizes cryptocurrencies as “financial...Continue Reading

The regulatory body asserts that the defendants managed to entice over 14,000 individuals by creating false weekly returns. Legal proceedings have been initiated by the Commodity Futures Trading Commission (CFTC) against individuals and their organization, Fundsz, citing their involvement in a deceptive scheme concerning cryptocurrencies and precious metals trading. Rene Larralde from Melbourne, Florida, Juan...Continue Reading

Bitcoin is due to offer nothing beyond “classic weekend chop,” signs of change on BTC price charts continue to flow in. Bitcoin (BTC) further ground down volatility into Aug. 12 as “astonishing” BTC price action stayed in place. BTC/USD 1-hour chart. Source: TradingView Bitcoin: “Classic weekend chop” expected Data from Cointelegraph Markets Pro and TradingView...Continue Reading

The platform further emphasizes its current priority, which revolves around assessing the proportional portions of each impacted user. Curve Finance, a decentralized finance (DeFi) platform for lending stablecoins, has officially stated its intention to reimburse users who were impacted by the recent breach resulting in a $62 million loss from the system.  According to a...Continue Reading

Binance jumped in with a $5 million Curve token investment to help with efforts to minimize the risk of contagion. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The DeFi ecosystem is yet to recover...Continue Reading

The hacker’s wallet with more than $100K worth of USDT was blacklisted and frozen, while the Victim had been drained for almost $170K worth of NFTs and other assets. With the help of police and cyber authorities, a victim of a hack worth 90 Ether (ETH) has gotten the attacker’s Tether (USDT) address blacklisted. As...Continue Reading

Senator Lummis argued that the SEC is attempting to “circumvent the political process” by establishing itself as the main authority on crypto. Crypto-friendly Senator Cynthia Lummis has filed an Amicus Brief supporting Coinbase’s motion to dismiss the U.S. Securities and Exchange Commission’s lawsuit against the firm. An Amicus Brief is a document filed in court...Continue Reading

This week’s Crypto Biz explores PayPal’s stablecoin, Coinbase’s new layer 2 network, Bitstamp’s fundraising and the growing popularity of crypto bots on Telegram. In a move that can reshape the digital payments landscape, financial technology giant PayPal has unveiled its United States dollar-pegged stablecoin PayPal USD (PYUSD).  In line with expectations, the launch has ignited...Continue Reading

Lawyers for Kyle Davies filed evidence that his U.S. citizenship had been renounced in 2021, which, according to a bankruptcy judge, left him outside the court’s jurisdiction. A judge in the bankruptcy case of defunct crypto hedge fund Three Arrows Capital (3AC) has denied a motion that would have held co-founder Kyle Davies in contempt...Continue Reading