cryptocurrency News

US Congress to Form Cryptocurrency Working Group

U.S. Representative French Hill, a Republican who chairs the House Financial Services Committee, said on Tuesday lawmakers from both chambers of congress would form a working group to develop policy favoring development of digital assets. New legislation will deliver “clarity …

Losses From Crypto Hacks Jump to $2.2B in 2024, Report Says

Funds stolen by hacking cryptocurrency platforms surged 21% from a year ago to $2.2 billion in 2024, a report from blockchain analysis firm Chainalysis showed on Thursday. The hacking amount exceeded $1 billion for the fourth straight year and the …

Trump Names David Sacks as White House AI and Crypto Czar

Donald Trump says he is selecting venture capitalist David Sacks of Craft Ventures LLC to serve as his artificial intelligence and crypto czar, a newly created position that underscores the president-elect’s intent to boost two rapidly developing industries. “David will …

Trump Picks Atkins, Ex-SEC Commissioner, to Succeed Gensler

Paul Atkins is President-elect Donald Trump’s choice to lead the US Securities and Exchange Commission, suggesting four years of relaxed policy and enforcement for crypto firms to hedge funds. Trump selected Atkins to replace outgoing Chair Gary Gensler, whose ambitious …

FTX Sues Binance and Its Former CEO for $1.8B

Collapsed cryptocurrency company FTX is suing Binance and its former CEO Changpeng Zhao, alleging that $1.8 billion was “fraudulently transferred” by FTX management to Binance and its executives. The lawsuit relates to Binance’s sale of its stake in Sam Bankman-Fried’s …

Robinhood in $3.9M Settlement With California Over Crypto Withdrawals

A cryptocurrency platform run by Robinhood Markets will pay $3.9 million to settle claims it failed to let customers withdraw cryptocurrency from their accounts from 2018 to 2022, California Attorney General Rob Bonta said. The civil settlement with Robinhood Crypto …

Musk Beats Suit Over Promoting Dogecoin ‘Pyramid Scheme’

Elon Musk and Tesla Inc. won dismissal of a lawsuit claiming they pumped up the price of the cryptocurrency Dogecoin into a $258 billion “pyramid scheme.” Investors who lost tens of thousands of dollars investing in the cryptocurrency faulted Musk …

SEC Sues Over Alleged $650 Million Global Crypto Fraud

The U.S. Securities and Exchange Commission on Monday sued the cryptocurrency company NovaTech and its married co-founders, saying they fraudulently raised over $650 million from more than 200,000 investors worldwide, including many Haitian-Americans. NovaTech and co-founders Cynthia and Eddy Petion …

Crypto Hacking Thefts Double to $1.4B in First Half 2024

The amount of cryptocurrency stolen in hacks globally more than doubled in the first six months of 2024 from a year earlier, driven by a small number of large attacks and rising crypto prices, blockchain researchers TRM Labs said. Hackers …

Binance Crypto Founder Zhao Sentenced to Four Months in Prison

Changpeng Zhao, the former chief executive of Binance, was sentenced on Tuesday to four months in prison after pleading guilty to violating U.S. laws against money laundering at the world’s largest cryptocurrency exchange. Once considered the most powerful crypto industry …