A new lawsuit targets T-Mobile for allegedly failing to fix longstanding cybersecurity issues that led to a massive data breach involving the personal data of millions of Americans. The Office of the Attorney General for Washington State accuses T-Mobile of violating the state’s Consumer Protection Act by deceiving customers about its ability to protect their […]
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Western efforts to isolate Russia have faltered as 36 nations attended the BRICS Summit in Kazan, a Russian official has declared. The BRICS leaders summit, chaired by Russia, saw 22 high-level delegations, highlighting Russia’s continued global influence despite sanctions and efforts by the U.S. and EU to marginalize it. West’s Isolation Strategy Fails: 36 Nations […]
BRICS is undermining the hegemony of Washington and Brussels as nations increasingly seek equal dialogue and cooperation that prioritize their own interests, according to Russia’s State Duma speaker. He stressed that countries are moving away from serving the U.S. and its allies, instead choosing partnerships that respect sovereignty and offer mutually beneficial cooperation, signaling a […]
The Washington State financial regulator has issued a warning about potential cryptocurrency fraud involving a mining platform and wallet. A Washington investor was scammed out of over $750,000 after investing. Despite the investment supposedly growing to $1.4 million, the investor faced continuous demands for taxes and fees. Washington Investor Scammed Over $750,000 in Crypto Mining […]
A Washington resident has been charged with involvement in a $64 million cryptocurrency laundering scheme. He allegedly deceived investors, posing as an escrow agent, and transferred funds into his accounts. The funds were moved offshore or converted to cryptocurrencies such as bitcoin and ethereum via exchanges like Gemini, Bitstamp, Coinbase, and Binance. Investigators traced the […]
The financial watchdog in Washington State is currently probing a complaint regarding a cryptocurrency platform that allegedly purports to be associated with the Nasdaq Stock Exchange. This inquiry began after an investor reportedly put in $200,000 following a solicitation on Facebook that transitioned to communication over Whatsapp. The regulator has flagged this as a potential […]
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.”
