1. Home
  2. court

court

Judge delays sentencing of IcomTech promoter to allow testimony

Gustavo Rodriguez, who was initially scheduled to be sentenced following his conviction for conspiracy to commit wire fraud, will testify under oath on Oct. 25.

Gustavo Rodriguez, one of the promoters of the cryptocurrency mining and trading firm IcomTech convicted of wire fraud, will have a few more days to prepare for his testimony and cross-examination before sentencing in a New York courtroom.

In an Oct. 22 hearing in the United States District Court for the Southern District of New York, Rodriguez’s lawyers requested Judge Jennifer Rochon grant an evidentiary hearing, claiming the former IcomTech promoter wanted to testify at his March 2024 trial. Judge Rochon said the court would hear testimony from Rodriguez and a witness on Oct. 25.

Rodriguez was one of two IcomTech promoters — along with his colleague David Brend — charged in the indictment against the project’s founder, David Carmona. Authorities alleged IcomTech amounted to a crypto-based Ponzi scheme, siphoning more than $8 million from users between 2018 and 2019.

Read more

Crypto.com to launch Mastercard-powered card in Bahrain

Indicted NYC mayor leaves questionable crypto legacy as controversy mounts

Before his indictment on criminal charges, NYC Mayor Eric Adams promised to turn the city into a major crypto hub.

Three years before cryptocurrency became a talking point in the United States presidential election for the first time, a different crypto-focused race was brewing in New York City to determine who would replace outgoing Mayor Bill DeBlasio.

Democrat Eric Adams was squaring off against Republican Curtis Sliwa, and both were campaigning on the promise of being pro-crypto mayors. Adams had recently defeated Andrew Yang, another crypto proponent, in the Democratic Party primary. 

On the campaign trail, Adams promised to make NYC the “center of Bitcoins.” He was elected mayor in November 2021, after which he continued to pledge the city would become “the center of the cryptocurrency industry” and argued cryptocurrency should be taught in schools.

Read more

Crypto.com to launch Mastercard-powered card in Bahrain

Bitcoin price drops under $67K as investors chase profit in stocks 

Bitcoin pulled back from its range high as investors moved to greener pastures, but a possible misstep by the SEC could benefit BTC. 

Bitcoin (BTC) briefly ventured above $68,000 on Oct. 16, the highest level since August, but holding this level proved harder than anticipated. With Bitcoin price now trading below $67,500, the primary question at hand is whether BTC price can restore its bullish momentum. 

Stronger-than-expected economic data in the United States reduced investors’ appetite for alternative hedging instruments, while a strong earnings report by TSMC shifted traders’ attention to the stock market. 

The macroeconomic environment played an important role in Bitcoin’s rejection at $68,000, but one event in the cryptocurrency industry in particular has triggered expectations of a more benevolent attitude toward crypto from the current Biden-Harris administration.

Read more

Crypto.com to launch Mastercard-powered card in Bahrain

Ripple Fires Back at SEC: Cross-Appeal Seeks to Overturn Unresolved XRP Issues

Ripple Fires Back at SEC: Cross-Appeal Seeks to Overturn Unresolved XRP IssuesRipple has escalated its legal battle with the U.S. Securities and Exchange Commission (SEC), filing a cross-appeal to challenge unresolved issues around XRP sales. This comes after the SEC sought to overturn parts of the rulings that cleared Ripple’s retail XRP transactions from securities violations. Ripple’s latest move aims to ensure the SEC’s arguments on […]

Crypto.com to launch Mastercard-powered card in Bahrain

Ryan Salame requests self-surrender date be pushed to Dec. 7

The former FTX executive claimed the need for “continuing medical treatment” after being bitten by a dog in June.

Former FTX Digital Markets co-CEO Ryan Salame, scheduled to report to a federal correctional institution for a seven-and-a-half-year sentence, asked a judge to delay his self-surrender date by roughly two months.

In an Oct. 9 filing in the United States District Court for the Southern District of New York, Salame’s lawyers requested he be allowed to serve his sentence starting on Dec. 7 rather than Oct. 11. Judge Lewis Kaplan granted a continuance in July after Salame reported being “mauled” by a German Shepherd on June 29.

The medical information related to Salame’s request to push back his self-surrender date was redacted but included a statement from a Virginia physician. According to the filing, the former FTX executive required “continuing medical treatment” before reporting to prison.

Read more

Crypto.com to launch Mastercard-powered card in Bahrain

Crypto.com sues SEC to ‘protect the future of crypto’ in US

Crypto.com’s lawsuit against the US SEC follows the exchange’s receipt of a Wells notice from the agency.

Major cryptocurrency exchange and service provider Crypto.com is launching a legal battle against the United States Securities and Exchange Commission with the goal of protecting the future of the crypto industry in the country.

Kris Marszalek, co-founder and CEO of Crypto.com, took to X on Oct. 8 to officially announce that the company has filed a suit against the US SEC.

“This unprecedented action by our company against a federal agency is a warranted response to the SEC’s regulation by enforcement regime, which has hurt more than 50 million American crypto holders,” he wrote.

Read more

Crypto.com to launch Mastercard-powered card in Bahrain

SEC wins case against defunct crypto firm over $18M ICO

A US federal judge found Rivetz and its CEO Steven Sprague sold unregistered securities when it offered an Ethereum-based token in 2017.

The United States Securities and Exchange Commission has scored yet another win against a crypto firm over an initial coin offering (ICO) — winning a judgment in a case against Rivetz Corp and its CEO, Steven Sprague.

In a Sept. 30 order, Massachusetts federal court judge Mark Mastroianni agreed with the SEC that Sprague, through Rivetz, sold unregistered securities by offering the Ethereum-based Rivetz, or RvT, token to US persons.

The regulator sued the defunct blockchain hardware firm and Sprague in September 2021, alleging they sold $18 million worth of Rivetz tokens in 2017 to over 7,200 investors, a third of which were in the US.

Read more

Crypto.com to launch Mastercard-powered card in Bahrain

Binance co-founder CZ free — What’s next and what it means for crypto

After four months in jail and social media discretion, CZ is free. What’s next for the former crypto titan who led Binance to the top?

Changpeng Zhao, co-founder and former CEO of Binance — commonly known as CZ — fulfilled on Sept. 27 his four-month sentence for failing to maintain an effective Anti-Money Laundering (AML) program at the Binance cryptocurrency exchange.

Zhao’s options may seem limitless as he’s amassed a personal fortune of $60 billion, placing him as the 25th-wealthiest person in the world.

One thing is for certain: Zhao will not be returning to Binance. According to Binance’s plea agreement filed on Nov. 21, the crypto firm agreed that Zhao was prohibited from “any present or future involvement in operating or managing” the exchange.

Read more

Crypto.com to launch Mastercard-powered card in Bahrain

Tornado Cash’s Roman Storm case moves to trial as judge denies dismissal

Tornado Cash developer Roman Storm is eyeing a maximum of 45 years in prison if convicted of all charges, with a trial set for December.

Roman Storm, a developer and co-founder of Tornado Cash, will face criminal trial over his creation of the crypto-mixing platform after a judge denied his motion to dismiss a United States government case.

In a Sept. 26 telephone conference, New York district court judge Katherine Polk Failla denied Storm’s bid to toss three federal charges brought by the Justice Department, saying government prosecutors had lodged plausible allegations against him.

Storm and fellow co-founder Roman Semenov were charged last August with conspiracy to commit money laundering, conspiracy to commit sanctions violations and conspiracy to operate an unlicensed money-transmitting business.

Read more

Crypto.com to launch Mastercard-powered card in Bahrain

Wazirx Granted 4-Month Moratorium, Will Make Wallet Addresses Public

Wazirx Granted 4-Month Moratorium, Will Make Wallet Addresses PublicIndian crypto exchange Wazirx has secured a four-month moratorium granted by a Singapore court, providing time for the company to address its financial obligations while crafting a resolution plan. Wazirx explained that as part of the court’s conditions, it will “make wallet addresses public via a court affidavit, respond to user queries raised in the […]

Crypto.com to launch Mastercard-powered card in Bahrain