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Former Bank CEO Pleads Guilty to Embezzling $47M to Buy Crypto, Leading to Bank Collapse

Former Heartland Tri-State Bank CEO Shan Hanes pleaded guilty on Thursday to embezzling $47.1 million for personal cryptocurrency purchases, leading to the bank’s collapse. From May to July 2023, Hanes…

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Hong Kong Police Arrest Three in ‘Hell Money’ Cryptocurrency Scam

Hong Kong police have arrested three men at a currency exchange shop in Tsim Sha Tsui, a major tourist area, for allegedly presenting “hell money” to a customer, leading the…

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Despite FTX’s Collapse, FTT’s $535M Market Cap Highlights Crypto Absurdity

Ten days ago, the FTX estate overseeing the bankrupt company’s proceedings informed customers they would receive more than 100% repayment. Following this announcement, the exchange token FTT from the defunct…

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Ontario ‘Crypto King’ Faces Major Fraud and Money Laundering Charges

The Ontario Securities Commission (OSC) announced on May 15 that two Ontario residents have been charged with offenses under the Criminal Code of Canada as part of Project Swan, a…

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Federal Reserve’s Neel Kashkari on Bitcoin: Still No Legitimate Use Case in an Advanced Democracy

The president and CEO of the Federal Reserve Bank of Minneapolis, Neel Kashkari, has expressed concern about consumer risk due to “fraud, hype, and confusion” surrounding bitcoin. Moreover, he said…

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Terraform Labs and Former CEO Do Kwon Found Liable for Civil Fraud by Jury

On Friday, Zack Guzmán, founder of Coinage Media, announced that Terraform Labs’ co-founder Do Kwon and his startup were deemed responsible for fraudulent activities in its legal battle against the…

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Montenegro Court Halts Extradition of Terra’s Do Kwon to the US

In a pivotal legal reversal, Montenegro’s Court of Appeals has annulled the extradition of Terraform Labs co-founder Do Kwon to the United States, siding with his defense’s appeal and invalidating…

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Terraform Labs Founder Do Kwon Faces Extradition Delay in Montenegro Amid SEC Fraud Allegations

Do Kwon, the embattled former CEO of Terraform Labs, is currently stranded in Montenegro due to extradition delays, following accusations by the U.S. Securities and Exchange Commission (SEC) of conducting…

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Do Kwon’s Fate Sealed — Montenegro High Court Opts for US Extradition in Legal Tug-of-War

In a landmark decision, the High Court in Podgorica has ruled that the former Terraform Labs CEO, Do Kwon, will be extradited to the United States, sidelining South Korea’s request…

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