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    SEC Ends Investigation Into ETH

    Consensys, the company behind Ethereum, has announced that the SEC has ended its investigation into ETH. The issue at hand was whether ETH is a security or a commodity.
    SEC closes significant investigation
    Consensys, the company behind Ethereum, has just announced that the SEC has closed its investigation into whether ETH is a security or a commodity. If it were found to be the latter, ETFs could not be created.
    The May decision on approving ETH ETFs effectively closed the investigation. As the regulators told ETF issuers, "yes," they recognized ETH as a commodity, not a security.
    However, the question remains: what happens now? Consensys sent a letter to the SEC asking what is happening in terms of the investigation after approval of ETF applications. The Commission responded by stating that it is no longer conducting an investigation.
    "The SEC Enforcement Division informed us that it has closed its investigation into Ethereum 2.0," said Consensys. "This means that SEC will not bring any charges related to allegations that selling ETH is a security transaction." - The company explained further.
    The price of ETH reacted to this news with gains. Today, one ether can be bought for $3523 USD, which translates to a 2% jump in 24 hours and a return to the price level before 7 days ago.
    But does this mean that Ethereum has won entirely?
    Not necessarily. While ether as an investment instrument is already considered safe in the US, it is clear that the SEC recognizes cryptocurrency as a commodity.
    However, there may still be issues ahead for Consensys. The company received a Wells notice earlier, which is a document warning of potential legal action from the SEC. The government agency warned the company that its MetaMask portfolio, which allows staking of ether, may violate securities laws. It is possible that the matter will end up in court.
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    Solana Decides To Fight Market Manipulation

    The Solana Foundation has taken a bold step to eliminate so-called "sandwich" attacks, which are responsible for artificially manipulating cryptocurrency prices. These attacks involve placing buy and sell orders around pending transactions, forcing retail investors to accept the worst possible prices.
    Recent events have revealed a group of validators involved in such practices, prompting the Solana Foundation to remove them from its delegation program. This decision reflects the foundation's commitment to fair market practices and zero tolerance for unethical behavior.
    How do "sandwich" attacks work?
    A "sandwich" attack is a form of market manipulation where a malicious trader exploits a pending transaction to profit. The trader places their own transactions before and after the pending transaction, allowing them to manipulate the price and reap the difference for their own benefit.
    Solana's Response
    Tim Garcia, Solana's validator relations leader, expressed his outrage on the Discord forum, warning of severe consequences for all parties involved in unethical practices. "We will not tolerate any actions that harm Solana users. Anyone who engages in such behavior will be immediately removed from the program, and their designated funds will be forfeited," Garcia stated.
    The Solana Delegation Program, which aims to support validators by assigning them SOL tokens, now faces a new challenge. It must not only support validators but also ensure they are not involved in any manipulations.
    Mert Mumtaz, co-founder of Helius, a provider of remote procedure services for Solana, noted that some operators modify their systems to enable "sandwich" attacks. "This not only harms individual users but also undermines the entire cryptocurrency market infrastructure," Mumtaz commented.
    Both the Solana Foundation's actions and the community's reactions demonstrate that transparency and fairness are crucial for the long-term health and stability of the cryptocurrency ecosystem. The Solana Foundation remains committed to protecting investors from fraud and ensuring that abuses will be ruthlessly eliminated.
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    Bitpanda & Deutsche Bank Launch Real-Time Cryptocurrency Payments

    The demand for fast and secure financial transactions, including cryptocurrency transactions, is growing. Deutsche Bank has recognized this trend and has formed a strategic partnership with Bitpanda, a platform that enables users to buy, sell, and trade cryptocurrencies. This partnership aims to significantly improve the process of exchanging digital currencies, combining the solidity of traditional banking with the innovative technology of Bitpanda.
    Integration for Safety and Speed
    This partnership will provide users with access to international bank accounts (IBAN) in Germany, enabling them to make real-time transactions. This solution will not only provide convenience but also ensure the safety of international transfers. Deposits and withdrawals made through the Bitpanda platform will now be processed by Deutsche Bank, ensuring the speed and effectiveness of settlements.
    Lukas Enzersdorfer-Konrad, Bitpanda's Deputy CEO, emphasized that trust and security are key values that underpin this partnership. He stated: "Trust cannot be bought, it must be earned. Our focus on compliance, security, and trust over the last decade has allowed us to develop partnerships with prestigious institutions like Deutsche Bank."
    This partnership is not only a benefit for Bitpanda's users but also a significant step for the entire cryptocurrency sector. Banks that have previously approached cryptocurrencies with caution are now more boldly entering the market, offering their services. This is possible due to the MiCA regulations, which aim to clarify the situation on the European financial market.
    Modernization and Innovation in Banking
    Banks are also changing, recognizing the need to incorporate tokenization and cryptocurrency technologies as new asset classes. "European banks are increasingly interested in cryptocurrencies because MiCA regulations clearly define the framework for such operations," added Enzersdorfer-Konrad.
    This partnership demonstrates how traditional financial institutions can work together with modern technologies to provide innovative and secure solutions that meet the needs of the modern financial market.
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    Bitcoin To Get A New Network For Sending Funds

    Have you ever found yourself waiting for an extended period of time to receive a Bitcoin transaction, or been forced to pay a higher fee to a miner to get your transfer included in a block? If so, you're not alone. The Bitcoin network is increasingly experiencing such delays and issues. While the Lightning Network provides an alternative, it's not without its flaws. That's why Ark Labs has announced that it's working on a new solution that will make Bitcoin transactions faster and cheaper.
    On June 4, Ark Labs announced the start of work on a new layer 2 blockchain network that will operate on top of the Bitcoin protocol. The goal is to enable users to make simpler and more self-sovereign transactions, which will be much easier to execute than with the Lightning Network.
    The new network is set to revolutionize the Bitcoin ecosystem, with Ark Labs emerging as a new player in the blockchain industry. According to the company's executives, the Lightning Network has several flaws that make it less than ideal for payment processing. Therefore, they have decided to create a successor to L2 that will operate without the need for managing payment channels and liquidity.
    The new network will operate on the Ark protocol, which is heavily inspired by the Lightning Network but will eliminate the need for complex transfer management and liquidity. There will be no need for dedicated nodes or configuration to use the L2 solution.
    All you'll need is a "light wallet" on your smartphone to receive or make a Bitcoin payment.
    The Ark protocol will include a special network of service providers (ASPs) that will connect users with compatible Ark wallets to facilitate transactions. The ASP will act as a trusted server that allows users to make "virtual transactions" between each other, with funds still being transferred over the Lightning Network.
    The ASP will operate on the basis of a trusted server that allows users to make virtual transactions between each other, with funds still being transferred over the Lightning Network. The creator's assurance is that users will have full control over their funds, even if their ASP goes offline.
    When can we expect the new network to launch? As announced, it's expected to happen in 2024.
    This new development is expected to bring significant changes to the Bitcoin ecosystem, providing users with faster and more affordable transactions. With Ark Labs' new network, users will have greater control over their funds and be able to make transactions without the need for complex payment channels and liquidity management.
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    ETFs On Ethereum Threatened: SEC Raises New Concerns

    The Securities and Exchange Commission (SEC) has dealt a setback to the plans of companies seeking to launch ETFs (Exchange-Traded Funds) on Ethereum, despite earlier approval of a different type of application. The SEC's chairman, Gary Gensler, recently appeared on Jim Cramer's Mad Money program, where he discussed the ongoing delays in approving ETFs on Ethereum.
    Gensler stated that the companies seeking to launch ETFs on Ethereum have not yet received approval from the SEC for their S-1 filing, which is necessary for listing their shares on stock exchanges. While this may seem like a formal procedural issue, similar to the approval of ETFs on Bitcoin, the situation is more complex.
    According to Gensler, the reason for the delay is that cryptocurrency firms are engaging in illegal activities that are not sanctioned by New York stock exchanges. He pointed to high-profile cases of fraud and misconduct in the industry, citing the examples of Sam Bankman-Fried, who was sentenced to 25 years in prison for defrauding clients of his failed cryptocurrency exchange FTX, and Changpeng Zhao, who is currently serving a four-month sentence after his company Binance reached a settlement with the US Department of Justice.
    Gensler's comments have been met with skepticism by some observers, who believe that his concerns about illegal activities are merely a pretext for delaying the approval of ETFs on Ethereum. The SEC's chairman has a reputation for being critical of the cryptocurrency industry, and his comments have been seen as a further sign of the regulator's reluctance to approve ETFs on Ethereum.
    The companies seeking to launch ETFs on Ethereum will need to wait patiently for the SEC's decision, which is likely to take some time.
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    Tornado Cash Creator Appeals Money Laundering Conviction

    Alexey Pertsev, the creator of Tornado Cash, has appealed his conviction for money laundering and has filed an appeal with the 's-Hertogenbosch court in the Netherlands. The verdict was handed down after Pertsev was found guilty of money laundering and sentenced to 64 months in prison. The appeal process is expected to take several months, although it is not yet known whether the court will accept Pertsev's appeal.
    Links to the Lazarus hacking group
    After the verdict was announced on Tuesday, Pertsev was immediately arrested and taken into custody to begin serving his sentence. The court ruled that Tornado Cash does not provide any barrier for individuals who want to launder money obtained from criminal activities. Pertsev was arrested in the Netherlands in August 2022, when Tornado Cash was placed on the US Treasury Department's sanctions list.
    The US Treasury Department accused Tornado Cash of being a key tool for North Korea's Lazarus hacking group, which is responsible for significant cryptocurrency thefts, including an attack on Ronin Network, which belongs to Axie Infinity, resulting in the theft of $625 million.
    Other accused individuals and further steps
    Roman Storm and Roman Semenov, who also developed Tornado Cash, have been charged with money laundering and violating US sanctions. Storm is scheduled to appear in court in September, while Semenov has not yet been arrested. Storm was arrested last year when Tornado Cash was placed on the US sanctions list again. In March, Storm filed a motion to dismiss all charges, claiming that he did not engage in any illegal activities related to money laundering, but the US Department of Justice rejected his motion.
    New regulations for cryptocurrency mixers
    The US is working on new regulations aimed at tightening control over cryptocurrency mixers. Democratic lawmakers have introduced the US Blockchain Integrity Act, which aims to disrupt illegal fund flows and promote transparency. The law prohibits financial institutions, cryptocurrency exchanges, and financial service providers from accepting funds processed by mixers. Violations of these regulations could result in civil fines of up to $100,000.
    Recently, Bitcoin Fog founder Roman Sterlingov was found guilty of money laundering, conspiracy to launder money, and operating an unregistered money transmission business. As a result, Tornado Cash has been added to the US Treasury Department's list of specially designated nationals, effectively banning Americans from using this mixer.
    Note: The article has been rewritten to maintain its original content and tone while adapting it to English language and grammar standards. Additionally, some phrases and sentences have been rephrased for better clarity and flow.
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    Two Individuals Arrested For Running $73 Million Crypto Ponzi Scheme, Facing Up To 140 Years In Prison

    In a major crackdown on international cryptocurrency fraud, the US authorities have arrested two individuals accused of running a massive Ponzi scheme that defrauded millions of dollars. The illegal funds were allegedly converted into Tether (USDT), a stablecoin, to conceal their origin.
    The US Department of Justice has unveiled an indictment against Daren Li and Yicheng Zhang, who were arrested separately in Atlanta and Los Angeles. The pair is believed to have led an international criminal network that defrauded millions of dollars through "pig butchering" schemes, where scammers gain the trust of victims, convince them to invest large sums, and then disappear with the money.
    According to the Department of Justice, the accused instructed co-conspirators to open American bank accounts under the guise of shell companies. Unsuspecting victims were then convinced to transfer funds to these accounts, which served as a conduit for laundering illegal profits.
    The money was subsequently dispersed to various domestic and international bank accounts, with the cryptocurrency portfolio linked to the program receiving over $341 million in virtual assets.
    Li and Zhang are charged with conspiracy to commit money laundering and six counts of international money laundering. If convicted, they may face up to 20 years in prison for each count, potentially resulting in a combined sentence of 140 years in prison.
    "Investment scams related to cryptocurrencies exploit the unregulated nature of virtual currency and online communication to deceive victims," said Deputy Attorney General Lisa Monaco. "While frauds on cryptocurrency markets take many forms and hide in many distant places, their perpetrators are not beyond the reach of the law."
    The investigation was a collaborative effort between US authorities and international partners. The case highlights the growing importance of cryptocurrency regulation and the need for law enforcement agencies to stay vigilant in combating financial fraud.
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    Binance Wins Crucial Appeal In The United States

    The Binance cryptocurrency exchange has won a significant appeal in the United States. A circuit court in Florida has overturned the suspension of Binance's business license for financial services in the state. This is a major regulatory victory for Binance.US, allowing it to continue operating on one of the largest cryptocurrency markets in the world.
    The court ruled that the Florida Office of Financial Regulation (OFR) did not have sufficient legal justification for the extraordinary suspension of Binance's license. The OFR had suspended the license in response to a confession by Binance's CEO, Changpeng Zhao, to violating American anti-money laundering laws in November 2023.
    The appeals court cited state law, which states that the OFR "may" suspend a license for financial services "in any manner deemed fair under the circumstances" if the agency presents grounds justifying its decision. The court concluded that the OFR did not provide adequate justification for the suspension and that the use of the word "may" in the statute implies freedom of judgment rather than an obligation.
    The court also found that suspending Binance's license would have caused significant financial losses and tax obligations for over 170,000 account holders in Florida.
    "To comply with the suspension, each client would need to liquidate their digital assets, which would result in financial losses due to fluctuations in digital asset prices," the court said.
    The decision is subject to further appeal by the OFR. In the meantime, Binance.US has temporarily suspended new user registration on Florida.
    However, this is not the end of Binance's problems in the US. The exchange is also facing suspension or denial of its license renewal in several other states, including Alaska, Maine, North Carolina, and Oregon. The status of its license remains unclear in Georgia and Ohio.
     
     
     
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    US Politicians Win: Blocking CBDC Creation in the US

    A historic moment is unfolding in the US Congress. Yesterday, the House of Representatives passed a bill that prohibits the Federal Reserve from issuing a Central Bank Digital Currency (CBDC).
    The bill, backed by 213 Republicans and 3 Democrats, ensures that the US Congress maintains control over digital currency policy. According to Tom Emmer, the author of the bill, "My legislation guarantees that American policy on digital currencies remains in the hands of the American people, so that any development of digital money reflects our values such as privacy, individual sovereignty, and competitiveness on the free market."
    Emmer's words reflect his concerns about CBDCs not being equivalent to Bitcoin. He fears that a CBDC could be designed to allow the central bank to track consumer transactions, raising concerns about privacy. This is precisely what Emmer is worried about – protecting Americans' privacy.
    Congressman French Hill, who supported the bill, cited the dangers of too much government power and referred to the Canadian example. In 2022, Prime Minister Justin Trudeau froze the bank accounts of citizens who protested against lockdowns. Hill argued that the US does not need a CBDC, citing the existing payment system that can benefit from the private sector.
    Democrats like Maxine Waters, on the other hand, argue that the Fed could design a CBDC that does not infringe on Americans' privacy.
    "This bill is an attempt to stifle innovation and competitiveness in the United States abroad and weaken a federal agency that is critical in fighting inflation," Waters added.
    Cryptocurrency Regulations
    Interestingly, on Wednesday, the House also passed another bill related to digital currencies. This bill gives the Securities and Exchange Commission (SEC) authority over the cryptocurrency sector. The bill still needs to be passed by the Senate and signed by the President before it becomes law.
    The US government's stance on digital currencies is a crucial issue for both regulators and private investors. As CBDCs and cryptocurrencies continue to evolve, it is essential for policymakers to strike a balance between innovation and protection of citizens' privacy.
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    SEC Approves Ethereum ETFs, but Trading Won't Start Soon

    Good news: despite expert skepticism, the Securities and Exchange Commission (SEC) has approved the applications for the creation of Ethereum ETFs. Bad news: trading in these funds won't begin immediately.
    What's going on? The SEC has approved the 19b-4 filings, which are necessary to create a new ETF. However, before the ETFs can be listed on exchanges, the SEC must stamp its approval on the S-1 forms. And that's where things get complicated.
    According to Bloomberg analyst James Seyffart, the actual introduction of these ETFs to trading platforms will take several weeks to a few months. This is unlike the case of Bitcoin ETFs, which were immediately listed on exchanges.
    Galaxy Digital predicts that ETH ETFs will be available for trading in July or August.
    Why is this unusual?
    The reason for this unusual situation is unclear. It's possible that the SEC initially refused to approve the ETFs, but changed its mind under political pressure. This could explain the lack of coordination between the SEC and exchanges, which would enable trading in these ETFs.
    Cryptocurrency has become a political issue in the US. In recent times, Donald Trump has announced that he accepts cryptocurrencies as a form of funding for his campaign. Additionally, former presidential candidate Ron DeSantis has promised to protect the US market for Bitcoin. Even Robert F. Kennedy Jr., a long-time advocate for cryptocurrency, has been vocal about his support for it.
    Even among cryptocurrency skeptics, there appears to have been a change in attitude. This week, some members of Congress voted in favor of a bill regulating the cryptocurrency market in the US. Specifically, the bill aims to strip the SEC of its authority over this market.
    It's unclear what exactly caused this change in attitude, but it's clear that cryptocurrency has become a major issue in US politics.
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    Solana(SOL) VS Tron(TRX)

    Why Tron is Better Than Solana
    As the world of blockchain technology continues to evolve, two popular platforms have emerged as top contenders for dominance: Tron (TRX) and Solana (SOL). While both have their strengths and weaknesses, I'm here to argue that Tron is the superior choice. In this article, we'll delve into the reasons why Tron stands out from the crowd and why it's the better option for developers, users, and investors alike.
    Scalability
    One of the primary concerns for blockchain platforms is scalability. As the demand for decentralized applications grows, platforms must be able to handle increased traffic and transaction volumes. Tron has made significant strides in this area, boasting a block time of 3 seconds and a maximum block size of 2MB. This means that Tron can process a higher number of transactions per second compared to Solana, which has a block time of 400ms and a maximum block size of 250KB.
    While Solana's faster block time may seem impressive, it's essential to consider the trade-offs. Tron's more robust architecture allows for greater flexibility and customization, making it a more attractive option for developers who need to build complex applications.
    Transaction Fees
    Another critical aspect of blockchain platforms is transaction fees. Tron has a relatively low transaction fee structure, with an average fee of around $0.0001 per transaction. This makes it an attractive option for users who want to send and receive transactions without breaking the bank.
    Solana, on the other hand, has a much higher transaction fee structure, with fees ranging from $0.01 to $0.10 per transaction. While these fees may seem minimal, they can add up quickly for users who make frequent transactions.
    Ecosystem
    The ecosystem surrounding a blockchain platform is crucial for its success. Tron has a thriving community of developers, users, and partners, with over 1 million active wallets and a growing list of decentralized applications (dApps).
    Solana, while having a smaller but still dedicated community, lags behind Tron in terms of overall ecosystem development. This lack of momentum can make it more challenging for developers to build and scale applications on Solana.
    Smart Contract Platform
    Tron is a fully-fledged smart contract platform, allowing developers to create complex decentralized applications using its own programming language, Solidity. This means that developers can build sophisticated applications that interact with the blockchain in a seamless manner.
    Solana, while also offering smart contract functionality, has limited support for complex contracts and lacks the robustness of Tron's platform.
    Innovation
    Finally, Tron has been at the forefront of innovation in the blockchain space. The platform has introduced several groundbreaking features, including its decentralized file storage system (TRX File), decentralized content creation platform (TRON Video), and even a decentralized governance system (TRON DAO).
    Solana, while showing promise in its early stages, has yet to match Tron's level of innovation and disruption in the industry.
    Conclusion
    In conclusion, while Solana has made significant strides in recent years, Tron remains the superior choice for developers, users, and investors alike. With its robust architecture, low transaction fees, thriving ecosystem, smart contract capabilities, and innovative spirit, Tron is poised to continue leading the charge in the world of blockchain technology.
    So, if you're looking for a reliable and scalable platform that offers unparalleled flexibility and customization options, look no further than Tron.
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    SEC on the Warpath! Another Firm Receives Subpoena Notice

    The US Securities and Exchange Commission (SEC) has struck again in the cryptocurrency space. The agency, led by Gary Gensler, has recently been sending subpoenas to firms in the industry, warning them of impending lawsuits. Clearly, the regulator views all altcoins as unregistered securities. This time, the regulatory body's attention has fallen on Robinhood.
    Robinhood Expects Lawsuit from SEC
    Following Uniswap's decentralized exchange and Consensys, the creators of MetaMask, who received subpoenas from the SEC last month, Robinhood has also received a subpoena notice. The firm, known for its financial services and brokerage platform, allows users to trade stocks, ETFs, and certain cryptocurrencies.
    On May 4, the company received a Wells notice from the US regulatory body, which is essentially a warning that the SEC is preparing to sue it. This is not surprising, given that Robinhood removed certain altcoins from its trading platform last year after they were listed as securities in lawsuits against exchanges Binance and Coinbase. At that time, Robinhood delisted tokens such as Solana (SOL), Cardano (ADA), and Polygon (MATIC).
    It is therefore no surprise that the company's leadership is expressing disappointment with the SEC's decision. "After years of trying to cooperate with the SEC in good faith to ensure transparency in regulations, including our well-known attempt to 'enter and register,' we are disappointed that the agency has decided to issue a Wells notice in connection with our cryptocurrency activities in the US," said Dan Gallagher, General Counsel at Robinhood.
    The company's CEO, Vlad Tenev, has also issued a statement, saying that if necessary, the firm will seek legal recourse to resolve this issue.
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    SEC Delays Decision on Invesco Galaxy's ETF Spot Ether Request

    The US Securities and Exchange Commission (SEC) has delayed its decision on Invesco Galaxy's request for an ETF spot ether. The agency has given itself an additional 60 days to review the documents, with the next deadline set for July 5.
    The SEC believes that it needs more time to consider the proposed changes and address the issues raised in the document. This is not the first time the agency has delayed its decision on Ethereum ETFs. In recent months, the SEC has delayed its decision on requests from all eight potential issuers of ETH ETFs, including BlackRock, Fidelity, Franklin Templeton, Hashdex, and Ark 21Shares.
    No one is surprised by this move, as it is a standard procedure.
    The key date is May 23, as it is the final deadline for the SEC to make a decision on VanEck's request. If the SEC decides to approve all bitcoin funds, it must say "yes" by May 23.
    In March, Bloomberg's senior ETF analyst Eric Balchunas stated that the chances of creating ETFs for ether had decreased from 50% to 35%. Other experts share this view and point out that there is no news about talks between the SEC and issuers.
    Could an ETH ETF not be created?
    This would be surprising, as one of the applicants is BlackRock, a massive investment giant with a nearly 100% success rate in getting ETF approvals. There are already ETFs for futures ether and spot bitcoin. So, what argument would regulators need to reject applications for stock market funds? It seems that the only way to justify this would be to recognize ETH as a security.
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    Joe Biden wants to veto an important resolution for the cryptocurrency market

    The US House of Representatives has prepared a pro-cryptocurrency bill. However, Joe Biden has already announced that he will veto it.
    Does Joe Biden Not Want to Help the Market?
    President Joe Biden has announced that he will veto the congressional bill. Congressmen want to stop banks from being subject to a controversial accounting policy prepared by the Securities and Exchange Commission (SEC).
    What's the issue? It's that in the US, banks can store cryptocurrencies for clients. The problem is that they must display these digital assets in their financial statements, which increases the costs of the entire process. This is the SEC's idea.
    "Gary Gensler, in his jihad against digital assets, has used supposedly humble guidelines for personnel to basically prevent large banks listed on the stock exchange from taking care of digital assets," said Republican Mike Flood (from Nebraska) during the hearings.
    "If you want Americans to be able to safely use digital assets, banks - which are one of the most heavily regulated companies in our country - are probably the best place [to store them]," explained congressman Patrick McHenry.
    Biden's Veto
    It turns out that the bill has received support not only from Republicans but also from Democrats. However, the White House has already announced that Joe Biden will veto the bill.
    The President claims that the SEC's policy is correct because it is an action "in favor of protecting investors in the cryptocurrency market."
    "Limiting SEC's ability to maintain complex and effective regulatory frameworks for cryptocurrencies would cause significant financial instability and market uncertainty," said the White House.
    All this fits into what Donald Trump is doing, who is once again competing with Biden for the presidency. When asked about his perspective on keeping cryptocurrency companies in the United States during a meeting with his supporters, he confirmed that as President, he will fight for better regulations for them. He pointed out that the current administration (he mentioned Gary Gensler's name) is hostile towards Bitcoin.
    Additionally, politicians from the Republican Party are more often pro-cryptocurrency than their Democratic counterparts. Trump is likely fighting for this electorate. Moreover, his recent main rival in the race for the White House, Ron DeSantis, was also fighting for this group of voters. The same is true for Robert F. Kennedy, an independent candidate.
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    Sam Bankman-Fried Still Investing. But You Won't Believe What He's Buying

    The co-founder of FTX, Sam Bankman-Fried, is currently serving his time in prison. He has over 20 years left to serve. Despite his confinement, he gave an interview to the media and revealed what he's investing in.
    Sam Bankman-Fried's Life in Prison
    Sam Bankman-Fried is currently living in the Metropolitan Detention Center (MDC) on Brooklyn. In August 2023, he spoke with William Cohan of Puck News. The interview was published on May 9th.
    During the interview, the former CEO talked about his life in prison. He mentioned that he receives vegan meals, eating beans and rice. Interestingly, he revealed that he invests in rice. Yes, you read that right - rice has become one of the currencies in MDC.
    At one point, he even joked that rice gives him enormous arbitrage opportunities, even bigger than those in cryptocurrencies.
    Cohan added that Bankman-Fried was "considerably slimmer" than before, having lost 25 pounds (11 kilograms) and was "less puffy, less manic, less restless". During the interview, he looked straight into Cohan's eyes and seemed almost calm. He even admitted that he had developed the skill of pretending to be fine, saying that he was coping well.
    Apparently, life in prison is boring (which is hard to believe). The former businessman had access to TV and a tablet, but not connected to the internet. He spent his time playing games on the tablet.
    He also admitted that he doesn't worry about his safety but doesn't sleep well because other inmates often wake him up. Why? Well, it's all about his rice trading again. Apparently, other inmates frequently wake him up to ask about his rice packets, which they want to use for trading. A Martyr?
    The former head of FTX told Cohan that he feels like a martyr. He doesn't feel guilty and believes that his only mistake was neglecting certain procedures.
    Cohan noted in his piece that Bankman-Fried still doesn't believe he committed any crime. We don't know if his ultimate sentence, which he received a few months later, changed this state of affairs.
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    Binance Rejects Allegations of Market Manipulation by DWF Labs

    DWF Labs has once again been accused of market manipulation, with reports suggesting that the company manipulated the price of several cryptocurrencies, including Yield Guild Game (YGG), in 2023. However, Binance has vehemently denied the allegations, stating that its market surveillance program would not allow such manipulation.
    According to a recent report by The Wall Street Journal, DWF Labs allegedly manipulated the price of YGG and at least six other cryptocurrencies last year. However, Binance has insisted that its robust market surveillance framework would prevent such manipulation from occurring.
    "We emphatically reject any assertion that our market surveillance program has permitted market manipulation on our platform," said a Binance spokesperson. "We have a robust market surveillance framework that identifies and takes action against unfair trading practices. Any users who breach our terms of use are immediately removed; we do not tolerate unfair trading practices."
    Binance has also highlighted its efforts to prevent and detect market manipulation, pointing to its ban on over 355,000 users who have violated its terms of use. The company has also emphasized the importance of investigating potential market manipulation, which is a top priority for the world's largest exchange.
    "Independent investigations have also validated the effectiveness of our approach, finding 'minimal signs of anomalous trading activities'," said the Binance spokesperson.
    The allegations against DWF Labs are not new, with the company being accused of market manipulation earlier in the year. Wintermute, an algorithmic trading firm and market maker, was one of the first companies to accuse DWF Labs of crypto market manipulation.
    DWF Labs has strongly denied the allegations, with its co-founder Andrei Grachev calling the claims "baseless". The company has also emphasized its commitment to fair and transparent trading practices.
    The allegations against DWF Labs highlight the ongoing challenges faced by cryptocurrency exchanges in detecting and preventing market manipulation. As the industry continues to evolve, it is crucial that exchanges prioritize transparency and fairness in their trading practices.
    Related: Public blockchain ledgers 'not fit for purpose', says JPMorgan executive
    DWF Labs — a Web3 investment and market-making firm — was first hit by market manipulation allegations in September 2023 after high-volume on-chain activity raised concerns among crypto investors.
    Wintermute, an algorithmic trading firm and market maker, was among the first companies to accuse DWF Labs of crypto market manipulation.
    During a September interview at Token2049, Wintermute co-founder Yoann Turpin said that DWF Labs "are not market makers in our sense" and confuse users because they "declare what are essentially [over-the-counter] trades as investments."
    Andrei Grachev, the co-founder of DWF Labs, has strongly denied the allegations.
    Related: Trader loses 7-figure sum due to 0L Network hard fork
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    Cybercriminals Stole Nearly $47 Million In Cryptocurrencies In February

    Company Scam Sniffer, specializing in protection against fraud in the world of Web3, has released data on the amount scammers seized last month as a result of scams and phishing, among other things. It turns out that there was a loss of $46.86 million in crypto during the last month. Cryptocurrency scammers still active.
    Data from the analysis conducted by the company indicates that over 57,000 people fell victim to various types of phishing in February. Interestingly, compared to the previous month, the number of people who lost over a million dollars decreased by 75%. However, on February 15, exceptionally large losses were recorded, exceeding $6.2 million in digital assets - all in one day.
    Users of Ethereum were particularly affected. The thefts on the main Ethereum chain resulted in losses of over $36.2 million, accounting for 78% of all fraud from the previous month. Ethereum-based tokens, especially ERC tokens, accounted for 86% of the total amount of fraudulently obtained funds. This amounted to $40 million.
    According to a report by Immunefi, most individual attacks took place on the Ethereum platform, where 12 incidents were reported, responsible for 85.71% of the total losses on the attacked networks.
    Not only investors were victims
    In February, there were also several high-profile thefts. The gaming platform Web3, PlayDapp, reported a serious security breach on February 10, resulting in losses exceeding $290 million.
    On the decentralized exchange FixedFloat, there was a theft of 409 bitcoins and 1700 ETH, adding up to a loss of around $26.2 million. FixedFloat stated that the attack was not caused by internal errors but by deficiencies in the exchange's infrastructure.
     
     
     
     
     
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    LockBit taken over by the authorities

    An international law enforcement operation conducted on Monday seized servers and disrupted the infrastructure utilized by the LockBit ransomware syndicate, marking the latest effort to hinder the technical apparatus of criminal and espionage factions.
    Dubbed "Operation Cronos," the endeavor, orchestrated by the Federal Bureau of Investigation (FBI) and the U.K.'s National Crime Agency in collaboration with various global partners, targeted a site utilized by LockBit for data leakage, the group's file-sharing service and communication server, as well as several affiliate and support servers. Additionally, a server hosting LockBit's administrative panel was seized, as revealed by a senior FBI official to CyberScoop.
    As a significant facet of the operation, the FBI gained access to nearly 1,000 decryption keys, potentially enabling the retrieval or mitigation of ongoing LockBit extortion activities.
    "This operation exemplifies the distinctive and substantial mission the FBI holds to impose repercussions on highly sophisticated cyber actors while simultaneously prioritizing assistance to cyberattack victims," expressed Brett Leatherman, the FBI's Deputy Assistant Director of Cyber Operations, during an interview.
    A representative of LockBit acknowledged the operation through an online post on VX-Underground by stating, "FBI pwned me."
    Graeme Biggar, Director General of the National Crime Agency, declared, "As of today, LockBit are locked out. We have significantly impaired the capabilities and notably the credibility of a group reliant on secrecy and anonymity."
    Europol reported that two individuals were apprehended during the operation — one in Poland and the other in Ukraine.
    This takedown marks the latest in a series of FBI operations aimed at disrupting cybercrime and cyberespionage infrastructure worldwide under Rule 41, a legal framework granting the FBI access to computers across multiple jurisdictions for modification. Recently, the agency announced the dismantling of a botnet controlled by Russian military intelligence. In January, the FBI dismantled a Chinese botnet used to infiltrate sensitive U.S. targets.
    Emerging in September 2019, LockBit is believed to be the most widely employed ransomware variant globally. Leatherman revealed that it has been utilized by over 100 affiliates worldwide, resulting in over $144 million in ransom payments. Approximately 2,000 businesses and entities worldwide, including at least 1,600 in the U.S., have been targeted. In 2023, it was the most prevalent ransomware variant targeting industrial facilities, accounting for a quarter of all such incidents tracked by the cybersecurity firm Dragos.
    As part of Tuesday's operation, the U.S. government unsealed indictments against two Russian nationals allegedly involved in facilitating LockBit attacks: Artur Sungatov and Ivan Gennadievich Kondratyev, also known as "Bassterlord."
    Bassterlord, recognized within the cybercrime community, is alleged to have produced training materials for aspiring criminals and participated in multiple interviews. In an interview with the Click Here podcast, Bassterlord identified himself as "Ivan," claimed Ukrainian nationality, and asserted retirement from criminal endeavors.
    Leatherman described the two individuals as "original affiliates, dating back to at least LockBit 1.0."
    Ransomware groups like LockBit typically operate on an affiliate model, wherein a central entity controls the infrastructure, leases access to it, and shares profits from operations conducted by "affiliates" using that infrastructure.
    Sungatov and Kondratyev remain at large, and alongside Tuesday's indictment, the U.S. Treasury Department imposed sanctions against them. The U.S. State Department is poised to announce rewards of up to $10 million for information leading to the identification or location of LockBit leaders and $5 million for information on individuals involved in LockBit ransomware activities.
    Earlier this month, similar rewards were offered by the State Department for information related to the ALPHV/BlackCat and Hive ransomware operations.
    The operation against LockBit prompts inquiries into its lasting impact. Previous operations against such groups have resulted in temporary disruptions, only for the groups to resurface using new infrastructure. In December, the FBI seized some of ALPHV's infrastructure, but the group managed to regain control, and a version of the site remains active.
    Leatherman refrained from divulging specifics of the LockBit operation but stated that the actions "disrupted the infrastructure behind LockBit in a completely different manner than BlackCat." While it's conceivable for a variant to "reconstitute," Leatherman asserted that LockBit would be unable to regain control of the servers utilized by the actors.
    Both investigations remain ongoing, with entities believing themselves to be victims of LockBit encouraged to visit a new landing page established by the FBI.
    The unsealed indictments on Tuesday mark the fourth and fifth cases brought against accused LockBit affiliates since 2022. Mikhail Vasiliev, a dual Russian and Canadian citizen, was apprehended in Canada in November 2022. He pleaded guilty in Canada on February 8 to cyber extortion and weapons charges, awaiting extradition to the United States.
    Ruslan Magomedovich Astamirov, a Russian national, was arrested in Arizona in June 2023 for his alleged involvement in LockBit attacks.
    Mikhail Pavlovich Matveev, another Russian national known as Wazawaka, was indicted in May 2023 for his role in ransomware attacks, including LockBit, Babuk, and Hive ransomware variants. The State Department offers a reward of up to $10 million for information leading to his arrest.
     
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    FIFA Will Create An NFT Collection. And It's All About The World Cup

    The International Federation of Association Football (FIFA), the organization that manages international football tournaments, has collaborated with Modex, a blockchain company, to release its own collection of non-fungible tokens (NFTs). This is just in time for the Club World Cup, in which the top football clubs compete, and the launch will take place on December 15th.
    The collection will consist of several hundred NFTs, and according to the company's blog, 100 digital collector's items will be available on FIFA Collect+ first, including some of the rarest items that will enable fans to obtain tickets to the FIFA World Cup final.
    An additional 900 collector's digital items will be issued on the Polygon network and made available on the OpenSea platform, and their launch is planned for December 19th, when the Club World Cup FIFA is nearing its climax. It will feature memorable moments from the tournament, as well as digital versions of souvenirs.
    The limited NFTs will serve as an additional ticket to the FIFA World Cup, which is an interesting idea. In addition to this, there will be standard limited edition tokens (900 pieces).
    "Collector's digital items enhance the way fans can interact with their favorite players, teams, and the game they love, and we are honored to support FIFA in achieving this goal," said Francesco Abbate, CEO of Modex.
    FIFA+ Collect and 11 NFT airdrops
    From its inception, the FIFA+ Collect platform enabled the organization to hold 11 NFT airdrops. As a result, 909,255 digital collector's items have appeared on the market, with 16,448 buyers. All of this has translated into high trading volumes, with a volume of $2.4 million USD on the primary and secondary NFT markets.
    In conclusion, FIFA has introduced an exciting collection of NFTs that will attract fans to football culture while simultaneously providing additional, unique experiences to participants.
     
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    Mickey Mouse Is No Longer Owned By Disney. NFT Issuers Are Taking Advantage Of This

    The early version of Mickey Mouse is no longer under Disney's legal ownership. As a result, it has been transferred to the blockchain in the form of an NFT.
    On January 1st, the version of the world's most famous mouse featured in the 1928 short film "Steamboat Willie" became publicly available. This is due to the expiration of copyright laws, which in the United States allow for copyright to be owned for only 95 years. Mickey Mouse (at least in its original form) is now free!
    This expiration of copyright presents an opportunity for NFT issuers. Three NFT collections related to Mickey have appeared on the market and currently occupy the top three spots on OpenSea's 24-hour trending list. The "Steamboat Willie Public Domain 2024" NFT collection took first place after achieving a volume of trading worth approximately $1.2 million USD. The second place belongs to the series titled "Steamboat Willie," and third place belongs to "Steamboat Willie's Riverboat."
    The "Steamboat Willie Public Domain 2024" collection also landed in sixth place on OpenSea's 24-hour bestsellers list, joining the Bored Ape Yacht Club (BAYC) and Pudgy Penguins. The "Steamboat Willie" series landed in eighth place on the same list.
    However, it's worth noting that Disney is not completely giving up. In a statement prepared for CNN, a spokesperson for the entertainment giant stated that the company plans to "continue to protect" its rights to Mickey Mouse, but only to its modern versions. "We'll work to protect consumers from confusion caused by unauthorized use of Mickey and our other iconic characters," they added.
    In fact, it's important to emphasize that the company only lacks rights to the early version of the cartoon mouse. This does not apply to later incarnations. Use without Disney's permission, for example, of versions from the 90s, is still illegal. It's worth keeping in mind as NFTs related to modern Mickey could also appear on the market.
     
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