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Binance faces legal battle as US regulator gets ready to rumble

Top blockchain and crypto news: Binance targeted in CFTC lawsuit. Law catches up with Do Kwon. Chinese banks bet on Hong Kong crypto.

Bitcoin breaks above US$28,000 as Do Kwon detained in Montenegro

Welcome to The Daily Forkast – March 24, 2023 – presented by Joel Flynn for the latest in the crypto markets. Most major cryptocurrencies have seen a increase in their prices amid the Federal Reserve’s decision to raise the Fed rate by another 25-basis points. Terra Luna founder Do Kwon has been arrested by Montenegrin […]

Weekly Market Wrap: Bitcoin falls below US$20,000 as Silvergate collapse, rate hike concerns rise

Bitcoin fell below US$20,000 for the first time since Jan. 13 on the back of crypto bank Silvergate’s collapse and the U.S. Fed signaling higher than expected interest rate hikes.

FTX Donations Clawback

The new leadership at FTX are threatening charitable and political organizations with lawsuits if they don’t return donated funds. Will this benefit ordinary depositors?

A house divided? SEC Commissioner Peirce attacks agency’s fines against Kraken exchange

Hester Peirce said using enforcement action to dictate law in an emerging industry is the act of a “lazy” regulator, after the SEC fined the U.S.-based Kraken crypto exchange for failing to register staking programs.

South Korea prosecutors say Serbia ready to help fraud investigation into Terra’s Do Kwon

Prosecutors flew to Serbia earlier this month as part of an investigation into Terraform Labs chief Do Kwon, who faces fraud accusations related to the US$40 billion collapse of his Terra-Luna cryptocurrency project in May last year.

Bankrupt FTX threatens legal action to claw back donations to politicians, charities

The move marks a shift in tone from December when recipients of FTX donations were requested to “voluntarily” return the funds.

Bitcoin mining fund soars as BTC powers into 2023

Top blockchain and crypto news: BTC mining ETF outperforms. SBF under pressure as accusations mount. ‘China’s Instagram’ embraces NFTs.

Will Genesis meet its maker amid creditors closing in?

Top blockchain and crypto news: Genesis bankruptcy begins. FTX chief ponders a reboot. China’s CBDC gets a smart-contract upgrade.

Why is it harder to arrest Terra-Luna founder Do Kwon than FTX’s Sam Bankman-Fried?

South Korea’s attempts to extradite the founder of the collapsed Terra-Luna stablecoin will remain hamstrung while the courts in Seoul dispute the charges against him.

Alameda Research transfers spark suspicions as SBF denies involvement

Top blockchain and crypto news: Where is Alameda Research’s money going? US tax loophole may give crypto investors a break. China’s blockchain momentum builds.

Happy birthday to Bitcoin! What will it become when it’s all grown up?

It takes a village to raise a child, and Bitcoin is no different — we must support its growth but also set firm boundaries, writes Justin d’Anethan of Amber Group.

A year to remember, a year to forget: Crypto highs and lows of 2022

From Terra and FTX crises to Ethereum’s triumphant Merge and China’s inventive NFT industry, Forkast reviews a rollercoaster year and its consequences.

Sam Bankman-Fried home for Christmas after making US$250 million bail in U.S.

Bankman-Fried won an upgrade from his Bahamas prison cell after posting bail following his extradition to the U.S. on Wednesday, where he faces charges for what prosecutors called “fraud of epic proportions.”

U.S. authorities say two FTX, Alameda executives have pleaded guilty to fraud

Caroline Ellison and Gary Wang, two integral members of the Sam Bankman-Fried now collapsed cryptocurrency businesses, are cooperating with prosecutors.

US bill set to demand know-your-customer from crypto companies

Top blockchain and crypto news: US senators push for crypto KYC. SBF faces the music in US courts. Alibaba Cloud to launch blockchain node.

US lawyers, Bahamas liquidators trade barbs over who rules FTX bankruptcy jurisdiction

Sam Bankman-Fried has reportedly made a second application for bail in the Bahamas – this as lawyers feud over control of the FTX bankruptcy, raising concern the sour grapes may seep into efforts to have Bankman-Fried extradited to face fraud charges in the U.S.

FTX Probe Begins

SBF was arrested by Bahamian authorities just a day before he was due to testify before Congress – but his successor has been revealing much about FTX’s collapse.

Sam Bankman-Fried in Bahamas police custody, faces criminal charges in U.S.

Top blockchain and crypto news: SBF denied bail, US extradition likely next. The Block chief quits over secret FTX loans. Hong Kong readies digital asset rules.

FastForkast headlines

South Korea court rejects second arrest warrant request for Terraform Labs’ Daniel Shin

Montenegro hints U.S. may get to extradite Terra fugitive Do Kwon ahead of South Korea

Bankman-Fried charged with paying millions in bribes to Chinese government officials

Montenegro to hold Terra-Luna fugitive Do Kwon for 30 days, says Yonhap News

South Korea confirms identity of man arrested in Europe as Terra-Luna fugitive Do Kwon, seeks extradition

Terraform Labs founder Daniel Shin again questioned by South Korea prosecutors over stablecoin collapse

South Korea cranks up pressure to extradite Do Kwon, founder of failed Terra-Luna stablecoin

FBI investigating the collapse of Do Kwon’s Terra-Luna, WSJ reports

Biden administration proposes 30% crypto mining tax, closing wash-trading loopholes

CFTC chair calls Ethereum a commodity, in contrast to SEC chair Gensler’s position

Forkast 500 NFT index dips, Vitalik-linked NFT token gains momentum

Fed’s Powell says stablecoins could have role in financial sector if properly regulated

Singapore police begin probe linked to Do Kwon’s Terraform Labs: Bloomberg

Binance documents show ties to U.S. unit unknown to regulators, WSJ reports

Former executive Nishad Singh pleads guilty to criminal charges in FTX collapse

Janet Yellen urges strong regulatory framework for crypto as India leads G20 push for regulation

FTX founder Sam Bankman-Fried hit with four more criminal charges

Huobi plans to move headquarters to Hong Kong from Singapore

Former FTX executive Nishad Singh negotiating guilty plea on fraud charges: Bloomberg

Judge says Bankman-Fried could ‘conceivably’ have bail revoked: CNN

Do Kwon, founder of collapsed Terra stablecoin, charged with fraud by U.S. securities regulator

Sam Bankman-Fried’s bail backers revealed as former Stanford dean, research scientist

Sam Bankman-Fried banned from using VPNs while on bail: Bloomberg

Binance CEO says more non-USD stablecoins may emerge

Huobi to expand in Hong Kong as it bets on China

Robinhood aims to buy-back its shares seized by Department of Justice in FTX failure

Binance suspends international U.S. dollar transfers, CEO indicates issues with banks

Donald Trump helps Polygon NFTs outsell Ethereum on OpenSea exchange for second month

Bankrupt FTX held US$1.4B in cash at the end of 2022

Judge rules Sam Bankman-Fried’s $250 mln bail co-signers should be named

Sam Bankman-Fried’s family members are not cooperating with FTX attorneys, court documents claim

Bankrupt BlockFi’s financials show US$1.2 bln exposure to FTX, Alameda: report

FTX chief John Ray mulls resurrection of collapsed crypto exchange

Former FTX U.S. CEO Sam Bankman-Fried rejects liquidators’ claim of recovered assets

Binance says it plans to expand hiring by as much as 30% in 2023 as rivals cut jobs

Sam Bankman-Fried pleads not guilty to fraud charges in FTX exchange collapse

Bahamas regulator denies FTX CEO’s claims over seized assets

FTX founder Sam Bankman-Fried allegedly cashes out US$684,000, on-chain data show

Bahamas regulators hold US$3.5 bln of FTX assets, to be delivered to customers, creditors

Sam Bankman-Fried used Alameda Research money to buy Robinhood shares

Crypto addresses linked to Alameda Research have moved over US$100,000

FTX asks court to keep US$450 mln Robinhood shares frozen

FTX says it has over US$1B in cash assets

FTX founder Sam Bankman-Fried set to return to the U.S. on Wednesday

South Korea freezes US$93 mln in assets of former Terra-Luna associates

Sam Bankman-Fried extradition in doubt after confused court hearing in Bahamas

Markets: Bitcoin, Ether fall; Dogecoin drops after poll says Musk should quit as Twitter boss

Binance’s proof-of-reserves auditor suspends work for crypto firms

FTX seeks permission to sell Japan, Europe entities and LedgerX

Animoca founder says Asia is ‘moving on’ from FTX fiasco

Binance “deliberately” caused FTX collapse, Kevin O’Leary claims

FTX Bahamas Co-CEO warned authorities on Nov. 9 of illegal customer asset transfers, documents show

Terra fugitive Do Kwon has registered address in Serbia: S. Korean local media