Tornado Cash Founder Convicted: Following a slew of judicial challenges in the Netherlands, Alexey Pertsev—the creator of the contentious privacy tool Tornado Cash—has been making headlines. Arrested in August 2022, Pertsev is facing claims of laundering $1.2 billion, allegedly using Tornado Cash, which includes monies from the Axie Infinity Ronin exploit. On a different note, Binance and Coinbase aren’t the only significant cryptocurrency exchanges out there; the Chicago Mercantile Exchange (CME) is allegedly thinking about joining the spot Bitcoin trading market.
Tornado Cash Founder Found Guilty
Tornado Cash Founder Convicted: Pertsev was found guilty of money laundering by a Dutch judge at the court in s-Hertogenbosch on May 14. An indictment alleging a pattern of money laundering by Pertsev from July 9, 2019, to August 10, 2022, was the basis for the trial. However, A Dutch court has granted him the prospect of parole pending trial, despite these serious charges. Developer responsibility and the moral weight of crypto privacy technologies are larger topics of discussion in the cryptocurrency community.
CME Considers Spot Bitcoin Trading
It has been claimed that the CME is contemplating entering the spot Bitcoin trading market. This might position it as an adversary to prominent cryptocurrency exchanges such as Binance and Coinbase. CME is well-known for its futures trading, but if it were to join spot trading, it may make Bitcoin trading more stable and liquid.
FTX Founder Seeks 18-Months Sentence
After pleading guilty to serious financial offenses, ex-FTX executive Ryan Salame is requesting a light sentence of 18 months in jail. Salame acknowledged using a loophole to circumvent federal campaign finance regulations by acting as a “straw donor” to transfer illegal contributions to political campaigns.
Telegram’s Notcoin Launches
However, Telegram’s Notcoin, a cryptocurrency built to improve platform-wide transactions, has been released. Users may expect a simplification of in-app purchases, tipping, and other monetary interactions with Notcoin, a platform built to support micropayments and rewards.
Also Read: What is the Future of Cryptocurrency?
However, Bitcoin is a safe and efficient digital money solution that aspires to merge with the Telegram ecosystem, making use of the messaging app’s massive user base. With this move, Telegram positions itself strategically among other tech companies investigating blockchain technology, and it enters the expanding market for digital currencies. Many people are excited to see how Notcoin changes the way Telegram works and how it affects the market as a whole.
Biden Bans China-Tied Mining Company
For the sake of economic and national security, the administration of President Joe Biden has banned a mining corporation with ties to China. This aggressive move aims to curtail China’s growing influence in the American mining industry, particularly in acquiring and processing crucial minerals for science and defense. The embargo emphasizes the need to secure mineral supply networks and US-China geopolitical tensions. Biden’s move is part of a larger plan to shore up American industry and lessen reliance on foreign powers, which will make the economy more resilient and protect the nation better.
Circle Files for IPO in the US
The USD Coin (USDC) stablecoin and leading financial technology firm Circle have both announced their intention to launch an IPO in the US market. However, The company is taking this step to better serve its customers and to be more open in the bitcoin sector, which is booming. There will likely be a lot of interest in the IPO from people looking to cash in on the growing digital currency market. However, Circle wants to strengthen its position in the market and use public funding to fuel future innovation and growth, which is why it made this decision.
Senate Votes to Kill SEC’s Crypto Accounting Policy
Opponents of the SEC’s crypto accounting policy said it regulated the cryptocurrency business too heavily and hindered innovation, but the Senate voted to repeal the policy. However, A more favorable regulatory climate for crypto firms in the US may be on the horizon as a result of this ruling, which signifies a dramatic change in the regulatory landscape.
Vanguard to Refrain from Launching Bitcoin ETF
The new chief executive officer of Vanguard has stated categorically that the firm would not be reversing its stance on not creating a Bitcoin exchange-traded fund. This position is in line with Vanguard’s conservative stance on cryptocurrency investments, which demonstrates their preference for more traditional investment products and overall financial stability over the extremely unpredictable cryptocurrency market.
Wisconsin Invests in BlackRock’s Bitcoin ETF
However, A large state investment fund in Wisconsin has made a bold leap into Bitcoin by investing over $100 million in BlackRock’s spot Bitcoin ETF. This acquisition exemplifies how institutional investors are increasingly seeing digital assets as a practical addition to their varied investing strategies.
French Regulator Issues Warning Against By bit
However, Bybit, a cryptocurrency exchange, has come under fire from France’s securities authority. The exchange was described by the authority as an unlicensed crypto platform that was providing digital asset services to third parties without proper registration.
Hong Kong ETFs See Outflows
Investors are fleeing Hong Kong’s Exchange-Traded Funds (ETFs) in response to the city’s persistent political unrest and economic instability. However, A change in investor attitude is reflected in this trend, which is causing worry about the financial stability and market performance of the region.
Coinbase Experiences Outage
There was a major outage at Coinbase, one of the biggest cryptocurrency exchanges, and customers couldn’t trade or access their accounts. Traders were angry and worried about the platform’s reliability during heavy trading periods after the technical issues led to the stoppage. Tornado Cash Founder Convicted: Has taken note of the issue and is actively attempting to get the service back up and running. This shows how bitcoin exchanges struggle to keep up with rising market activity.
DTCC Completes Tokenization Pilot
However, Collaborating with Chainlink, JPMorgan, Franklin Templeton, and BNY Mellon, the Depository Trust & Clearing Corporation (DTCC) has finished a pilot program to speed up the process of fund tokenization. This work is part of a larger movement to improve the safety and efficacy of conventional financial services by incorporating blockchain technology.
Also Read: Btcnewz.co.uk
