The Fairshake super political action committee (PAC) has spent $2 million on an attack ad against Jamaal Bowman that has under 400 views. Fairshake dropped an ad attacking New York Congressman Jamaal Bowman four days ago, which is available on YouTube. The ad’s budget was disclosed to the Federal Election Commission. According to StandWithCrypto.org, Bowman […]
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Regulatory uncertainty is holding back the $20 trillion dollar financial advisory industry from investing more in crypto, claims Bitwise investment head Matt Hougan.
The crypto space could be exposed to the trillions in the financial advisory industry once United States regulators clear up legal uncertainties, says crypto asset manager Bitwise’s investment head.
Regulatory uncertainty has been the main reason why financial advisors haven’t increased exposure to crypto over the last five years, Bitwise chief investment officer Matt Hougan wrote in a June 4 post.
Hougan thinks the U.S. is finally moving toward regulatory clarity, which could open it up to the country’s $20 trillion financial advisory industry.
On April 30, a judge sentenced the former Binance CEO to four months in federal prison but did not set a reporting date at his hearing.
The former CEO of cryptocurrency exchange Binance, Changpeng “CZ” Zhao, has suggested he plans to “write something” during his upcoming four-month incarceration.
At an April 30 hearing, Judge Richard Jones sentenced Zhao to four months in prison. The former Binance CEO pleaded guilty to one felony charge for failing to maintain an effective Anti-Money Laundering program at the exchange. Zhao is expected to report to either the Camp at the Federal Correctional Institution Sheridan in Oregon or the Federal Detention Center SeaTac in Washington at a date that had not been determined at the time of publication.
Before and after the sentencing hearing, CZ remained active on social media, hinting at his plans on X. The former Binance CEO launched a youth-focused crypto and blockchain education program called Giggle Academy. He also reached out to his 8.9 million X followers, hinting at suggestions on how to pass the time in prison.
An expert in U.S. federal prisons suggested that the former Binance CEO, if sentenced to incarceration, could face the risk of “theft and extortion” from other inmates.
Former Binance CEO Changpeng “CZ” Zhao has requested that a federal judge sentence him to probation after pleading guilty to violating money laundering laws. His legal team has filed several declarations in support of his recommendation, including one suggesting he could serve time at the Federal Detention Center (FDC) SeaTac, Washington.
In an April 23 filing in U.S. District Court for the Western District of Washington at Seattle, Robert Palmquist said it was “highly probable” that, if given prison time, Zhao would serve his sentence at FDC SeaTac. Palmquist, who served as warden of the Washington facility from 2003 to 2009, described it as having “little natural light” with the prison understaffed, given the number of inmates.
“If Mr. Zhao is incarcerated [...] his wealth and status as a public figure would expose him to a risk of threats to his physical and mental health, including but not limited to theft and extortion,” said Palmquist. “Mr. Zhao would encounter offenders of all security levels and potentially be prey to predators with high security designations due to his naivety concerning prison experiences and his financial resources.”
Top US crypto exchange Coinbase is launching a 14-month lobbying effort to convince D.C. lawmakers to pass clearer regulations for digital assets. According to a new blog post, Coinbase’s “Stand With Crypto” initiative includes several strategies, such as calling on the tens of millions of Americans who own digital assets to contact their representatives and […]
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The Washington D.C. townhouse owned by Guarding Against Pandemics was listed as “contingent” on a real estate website, suggesting the party handling the deal has accepted an offer.
An unidentified buyer or buyers could soon own a property previously linked to defunct cryptocurrency exchange FTX and its former CEO Sam Bankman-Fried in Washington D.C.’s Capitol Hill neighborhood.
According to an updated posting on Realtor.com, the D.C. property was listed as “contingent”, suggesting that the party handling the deal has accepted an offer but the transaction was not yet finalized. The townhouse located near the U.S. Capitol building was reportedly owned by Guarding Against Pandemics, a nonprofit organization established by Gabriel Bankman-Fried, brother of the former FTX CEO.
Cointelegraph reported in January that the property had been removed from real estate listings after having allegedly been purchased by misappropriated FTX user funds. Realtor.com’s listing at the time of publication showed a price of $3 million, while available photographs did not suggest any crypto or blockchain design to the house.
#CelebrityRealEstate
— Paul Argueta (@talktopaul_com) January 23, 2023
DC Townhouse Linked to Fallen FTX Founder Sam Bankman-Fried Is Listed for $3.3M
420 3rd St NE, Washington, DC 20002
Bedrooms and bathrooms
Bedrooms: 4
Bathrooms: 4.5
Full bathrooms: 4
1/2 bathrooms: 1 pic.twitter.com/oBQslTGuV3
Amid the collapse of FTX and criminal charges brought against Sam Bankman-Fried, U.S. authorities investigated assets tied to the crypto exchange and its former CEO, including those used for political donations. Bankman-Fried will face two criminal trials — scheduled for October 2023 and March 2024 — for charges including allegations of campaign finance law violations.
Related: House on a hill: Top countries to buy real estate with crypto
It’s unclear who is behind the purchase of the D.C. property and what role the money behind the sale could play, if any, in FTX’s ongoing bankruptcy case in the District of Delaware. Gabriel Bankman-Fried reportedly stepped down from his position as executive director of Guarding Against Pandemics in November 2022. Cointelegraph reached out to the nonprofit, but did not receive a response at the time of publication.
Magazine: Can you trust crypto exchanges after the collapse of FTX?
Officials in Washington D.C. said they will hold a listening session to understand the experiences of workers and the usage of AI surveillance in the workplace.
Officials in the United States are making efforts to keep tabs on the development of artificial intelligence (AI), as new plans surface to examine workers’ experience with AI surveillance.
According to a Reuters report, officials at the White House said on May 23 that they would be asking workers how their employers use AI for monitoring purposes. This comes as federal investments are being allocated toward the development of the technology.
Regulators in the U.S. are planning to hold a listening session to hear out such experiences with AI for workplace surveillance, monitoring and evaluation. Also on the call will be gig work experts, researchers, and policymakers
The forthcoming listening session comes only a few weeks after U.S. Vice President Kamala Harris invited executives from major tech companies to the White House to discuss the dangers of AI.
In attendance were nine of the top advisers to the Biden administration in science, national security, policy and economics, along with the CEOs of OpenAI, Microsoft and Meta CEO Mark Zuckerberg, among others.
Prior to the meeting, U.S. President Joe Biden addressed tech companies imploring them to address the risks of the technology.
Related: AI-generated image of Pentagon explosion causes stock market stutter
On May 4, U.S. officials released standards for key and emerging technologies, which identified eight sectors within the tech industry that could have a significant impact on the economy in upcoming years.
Most recently, Sam Altman, the CEO of OpenAi which created ChatGPT, testified before Congress in a “historic” session that focused on the potential threats posed by generative AI.
The U.S. is not alone in forming a regulatory stance on emerging technology. Regulators in the United Kingdom recently pledged nearly $125M towards the creation of a ‘safe AI’ task force while the country focuses on AI “readiness.”
Meanwhile, in the European Union, officials are in the process of finalizing legislation that could be one of the world’s first set of legal measures and guidelines regulating generative AI tools. The most recent round of deliberations for the EU AI Act included a ban on facial recognition in public spaces and predictive policing tools.
Magazine: ‘Moral responsibility’: Can blockchain really improve trust in AI?
After Saudi Arabia and members of the Organization of the Petroleum Exporting Countries (OPEC) surprised the world by announcing cuts to oil production, a spokesperson for U.S. president Biden’s National Security Council stated that reducing production is not advisable. According to a recent report, Saudi Arabia’s crown prince Mohammed bin Salman has told associates that […]
The parent company of Silicon Valley Bank, SVB Financial Group, and two senior executives have been sued by shareholders after SVB’s collapse last Friday. The proposed class action accuses SVB of hiding the fact that interest rate hikes would leave the bank in jeopardy. Additionally, anonymous sources say the U.S. Department of Justice (DOJ) and […]
A D.C. court denied a motion to dismiss claims that Michael Saylor failed to pay personal income taxes, with a status conference on the matter scheduled for March.
The Office of the Attorney General for the District of Columbia in the United States is moving forward on a lawsuit against business intelligence firm MicroStrategy executive chair Michael Saylor related to tax evasion.
According to a Feb. 28 filing with the U.S. Securities and Exchange Commission, MicroStrategy said the court had not dismissed a claim against Saylor for failing “to pay personal income taxes, interest and penalties due” following an October 2022 motion from the firm. However, the court granted a motion dismissing allegations that Saylor — on his own and acting in concert with MicroStrategy — violated the District of Columbia’s False Claims Act.
Former D.C. Attorney General Karl Racine announced a lawsuit against Saylor and MicroStrategy in August 2022, alleging the co-founder “never paid any DC income taxes” and the company “conspired” to assist him in tax evasion. At the time, authorities said Saylor owed more than $25 million in taxes for income earned while he was a D.C. resident, but penalties from both the former chief executive officer and MicroStrategy could total more than $100 million.
It's the 1st lawsuit brought under DC’s recently amended False Claims Act encouraging whistleblowers to report residents who evade our tax laws by misrepresenting their residence. Led by @ChmnMendelson, @councilofdc unanimously updated the law & gave us enforcement authority.
— Archive: AG Karl A. Racine (@AGKarlRacine) August 31, 2022
Racine left the Attorney General’s office in January after announcing he would not seek re-election. According to the MicroStrategy filing, there will be a “status conference” on the lawsuit on March 10.
“The final outcome of this matter is not presently determinable,” said the filing.
Related: OECD releases framework to combat international tax evasion using digital assets
According to the Attorney General’s complaint, MicroStrategy had "detailed information” on Saylor's residency in Washington D.C., but the company collaborated with the former CEO to "facilitate his tax evasion" rather than reporting it to authorities. Saylor stepped down as the CEO of MicroStrategy in August 2022, succeeded by then company president Phong Le.
