Telegram CEO Pavel Durov charged, barred from leaving France

August 28, 2024 Coin Telegraph

After his arrest on Aug. 25, French prosecutors said they had indicted Pavel Durov with criminal charges related to his role at Telegram.

Pavel Durov, the founder and CEO of messaging app Telegram, has been charged in France and placed under judicial supervision after appearing in court.

According to an Aug. 28 Bloomberg report, French prosecutors said they had indicted Durov with criminal charges related to his role at Telegram and required him to post bail in the amount of 5 million euros before he could be released from custody. Police delivered Durov to court after he was detained at an airport north of Paris on Aug. 25.

After his arrest, prosecutors said the Telegram founder had been taken into custody as part of a judicial investigation “against person unnamed” on charges, including complicity with illegal activities, refusal to communicate to authorities, money laundering, criminal association and providing cryptology services without prior declaration. Durov also reportedly faces child abuse allegations in Switzerland that are unrelated to the French case.

Crypto sentiment index drops to October levels as Bitcoin dips under K

Crypto sentiment index drops to October levels as Bitcoin dips under $92K

Breaking: Telegram CEO Pavel Durov allegedly arrested in France

August 24, 2024 Coin Telegraph

Arrest

Reports are trickling in via social media, but so far, we haven’t seen any official confirmation.

Telegram CEO Pavel Durov has allegedly been arrested in France on numerous charges related to his operation of the social messaging platform. This comes according to unconfirmed accounts via social media and unverified press reports.

According to the reports, Durov was arrested when his plane landed at the Bourget airport outside Paris. He allegedly faces charges of terrorism, trafficking, conspiracy, fraud, money laundering, and more.

In the wake of the reported, yet still unconfirmed, arrest, the TON cryptocurrency developed by Telegram has taken a more than 10 percent dip from its early Aug. 24 high of $6.86 to $6.07 as of the time of this article’s publication.

Crypto sentiment index drops to October levels as Bitcoin dips under $92K

Shaquille O’Neal may still be in hot water over Astral NFTs, says judge

August 20, 2024 Coin Telegraph

astrals

A Miami judge didn’t dismiss a claim that basketball legend Shaquille O’Neal was a “seller” of Astrals NFTs and found they could be securities under US law.

Former pro basketball player Shaquille O’Neal will need to defend some of the claims brought against him in the Astral non-fungible token (NFT) class-action lawsuit.

The lawsuit, which has been ongoing for over a year, names O’Neal as a defendant. It alleges that the NFTs are unregistered securities that O’Neal once promoted online.

In an Aug. 16 order on O’Neal’s motion to dismiss, Miami federal court judge Federico Moreno judged the plaintiffs properly alleged that O’Neal was a “seller” of the Astrals NFT project, meaning O’Neal will need to answer for that.

Crypto sentiment index drops to October levels as Bitcoin dips under $92K

Better Markets CEO Says SEC Has 90% Chance of Winning in Ripple Appeal — Criticizes Judge’s XRP Ruling

August 18, 2024 Bitcoin.com

Appeal

Dennis Kelleher, CEO of Better Markets, says the U.S. Securities and Exchange Commission (SEC) has a 90% chance of winning an appeal in the Ripple lawsuit over XRP. He criticized the court ruling as flawed, arguing that the judge in the Ripple case misapplied the law. Better Markets CEO on SEC Appeal Against Ripple Dennis […]

Crypto sentiment index drops to October levels as Bitcoin dips under $92K

Crypto mixer founder argues 30-year prison sentence is ‘unwarranted’

August 16, 2024 Coin Telegraph

Bitcoin Fog

In March, a jury convicted Bitcoin Fog founder Roman Sterlingov of four counts related to money laundering through the operations of the crypto mixing service.

Lawyers representing Roman Sterlingov, the founder of cryptocurrency mixer Bitcoin Fog, have argued against a “lengthy” sentence following his conviction on money laundering charges.

In an Aug. 15 filing in the United States District Court for the District of Columbia, Sterlingov’s legal team did not seem to make a specific sentencing recommendation in response to prosecutors’ petition he should serve between 20 and 30 years in prison. Lawyers for the Bitcoin Fog founder claimed that the government’s recommendations were “unwarranted” based on sentencing in comparable cases.

In March, a jury convicted Sterlingov of money laundering, conspiracy to money launder, operating an unlicensed money transmitting business, and money transmission without a license in DC. Prosecutors alleged he operated the crypto mixer from 2011 to 2021, acting as a money laundering service for “criminals seeking to hide their illicit proceeds from law enforcement.”

Crypto sentiment index drops to October levels as Bitcoin dips under $92K

US Court Orders FTX and Alameda to Pay Fraud Victims $12.7 Billion in Historic CFTC Recovery

August 8, 2024 Bitcoin.com

US Court Orders FTX and Alameda to Pay Fraud Victims .7 Billion in Historic CFTC Recovery

Alameda Research

A U.S. district court has ordered FTX and Alameda Research to pay $12.7 billion to fraud victims due to their misuse of customer funds and fraudulent practices. Ian McGinley, Director of the Commodity Futures Trading Commission’s Division of Enforcement, emphasized that this multibillion-dollar recovery is the largest recovery in CFTC history. FTX and Alameda Ordered […]

Crypto sentiment index drops to October levels as Bitcoin dips under $92K

DOJ recommends harsher sentences AI-enhanced crimes

August 7, 2024 Coin Telegraph

artificial intelligence

Using AI to plan, commit, or help cover up a plan could lead to harsher sentencing in the US soon.

The United States Department Justice (DOJ) has asked the United States Sentencing Commission to update its guidelines to provide additional penalties for crimes committed with the aid of artificial intelligence.

According to a legal alert published by the law offices of White & Case, the recommendations seek to expand well beyond established guidelines and would apply not only to crimes committed with AI, but to any crime aided or abetted by even simple algorithms.

Current guidelines, per the legal alert, only cover so-called “sophisticated” systems. Ostensibly, the new guidelines would make AI involved in criminal activity an accessory, with the legal system punishing the person responsible for its application to criminal activity.

Crypto sentiment index drops to October levels as Bitcoin dips under $92K

Bankrupt crypto firm Genesis completes restructuring

August 2, 2024 Coin Telegraph

Bankruptcy

In a January open letter, Gemini co-founder Cameron Winklevoss accused entities related to Genesis of inflating their assets.

Genesis, an institutional lending platform that filed for bankruptcy in 2023, announced the completion of its Chapter 11 restructuring plan on Aug. 2, and the disbursement of approximately $4 billion in funds to the injured parties.

As part of the plan, Bitcoin (BTC) creditors “will receive 51.28% recoveries as valued on an in-kind basis in the form of BTC,” and Ether (ETH) creditors will receive 65.87% recoveries paid out in the digital currency.

Most altcoin creditors will receive 87.65% recoveries of their digital assets, with Solana (SOL) being the notable exception. Creditors reclaiming SOL holdings will be subject to a 29.58% recovery rate, once again payable on an in-kind basis. Stablecoin and cash creditors are eligible to recoup 100% of their losses in the form of US dollars, according to the restructuring plan.

Crypto sentiment index drops to October levels as Bitcoin dips under $92K

Judge grants ex-FTX exec’s request to postpone reporting to prison

July 30, 2024 Coin Telegraph

Coin Telegraph

Ryan Salame will have an additional 45 days of freedom after his lawyers said there were medical complications due to a dog bite.

A federal judge has granted a motion filed by lawyers representing former FTX Digital Markets co-CEO Ryan Salame to delay reporting to prison until Oct. 13.

In a July 30 filing by the United States District Court for the Southern District of New York, Judge Lewis Kaplan approved a motion allowing Salame to push his self-surrender date by 45 days as part of his sentence to 7.5 years in prison. Salame’s legal team requested the delay due to medical complications from a dog biting the former FTX executive’s face on June 29 while he was visiting a friend’s home.

The July 26 motion by Salame’s legal team redacted medical information related to his injuries but claimed that a German Shepherd “mauled” him, and he would require treatment and surgery before reporting to prison. He was initially going to report to prison on Aug. 29, roughly three months after being sentenced.

Crypto sentiment index drops to October levels as Bitcoin dips under $92K

Ex-FTX exec asks for delay reporting to prison after dog attack

July 27, 2024 Coin Telegraph

Coin Telegraph

Ryan Salame was scheduled to report to prison on Aug. 29 after being sentenced to 90 months for charges related to the misuse of FTX user funds.

Lawyers representing former FTX Digital Markets co-CEO Ryan Salame have requested a 45-day delay before his prison reporting date due to medical complications from a dog biting his face.

In a July 26 filing in the United States District Court for the Southern District of New York, Salame’s legal team requested his self-surrender date to serve a 7.5-year sentence be moved from Aug. 29 to Oct. 13 “so that he may undergo urgent and necessary medical treatment and surgery.” The former FTX executive pleaded guilty to conspiracy to operate an unlicensed money-transmitting business and engaging in campaign finance fraud.

According to the filing, a German Shepherd “mauled” Salame” on June 29 while he was visiting a friend’s home. Portions of the request were redacted, but they included a physician’s visit on July 3 and recommendations for treatment on July 24 “after sustaining a dog-bite injury to the face.”

court

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