📰 NFT startup founder charged with misusing funds from $10 million fundraising
Federal prosecutors in Manhattan charged the founder of non-fungible token (NFT) startup Few and Far with securities fraud and wire fraud.
The prosecutors alleged that Taj Tarsha diverted more than $10 million raised from investors into online gambling, cryptocurrency speculation and personal expenses instead of building the company's marketplace.
🔗 Source: CoinDesk
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Federal prosecutors in Manhattan charged the founder of non-fungible token (NFT) startup Few and Far with securities fraud and wire fraud.
The prosecutors alleged that Taj Tarsha diverted more than $10 million raised from investors into online gambling, cryptocurrency speculation and personal expenses instead of building the company's marketplace.
🔗 Source: CoinDesk
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📰 Free Markets and Innovation, Sort Of
The Wall Street Journal's Aug. 4 editorial on the Clarity Act, "Clarity for Crypto, Sort Of," opens by warning that Congress passes bills riddled with policy landmines because members won't do the work of defusing them. That’s a fair worry in general, but it doesn’t apply here. The editorial concedes more than the headline suggests. It credits the bill with ending the regulatory gray zone the last administration left behind, with giving investors and banks rules a future administration cannot simply discard, and with opening a path for innovations like tokenized stocks and bonds that would strip friction and cost out of the financial system. All of that, in the board's own assessment, is worth supporting. The board is not calling to reject Clarity, but for tighter language on a few provisions.
Summer Mersinger is CEO of the Blockchain Association and a former commissioner of the U.S. Commodity Futures Trading Commission.
🔗 Source: CoinDesk
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The Wall Street Journal's Aug. 4 editorial on the Clarity Act, "Clarity for Crypto, Sort Of," opens by warning that Congress passes bills riddled with policy landmines because members won't do the work of defusing them. That’s a fair worry in general, but it doesn’t apply here. The editorial concedes more than the headline suggests. It credits the bill with ending the regulatory gray zone the last administration left behind, with giving investors and banks rules a future administration cannot simply discard, and with opening a path for innovations like tokenized stocks and bonds that would strip friction and cost out of the financial system. All of that, in the board's own assessment, is worth supporting. The board is not calling to reject Clarity, but for tighter language on a few provisions.
Summer Mersinger is CEO of the Blockchain Association and a former commissioner of the U.S. Commodity Futures Trading Commission.
🔗 Source: CoinDesk
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📰 OKX's Rafique doubts Clarity Act will pass, warns optimism is already priced into bitcoin
OKX's Haider Rafique said he is increasingly pessimistic that the Clarity Act will clear Congress this year, arguing political realities rather than policy disagreements are the biggest obstacle to the landmark crypto market structure bill.
Rafique, who is the exchange’s global managing partner for Corporate Affairs and Investor Relations, said Democrats have little incentive to hand Republicans a major legislative victory ahead of this year's midterm elections, particularly given criticism surrounding President Donald Trump's ties to the crypto industry.
🔗 Source: CoinDesk
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OKX's Haider Rafique said he is increasingly pessimistic that the Clarity Act will clear Congress this year, arguing political realities rather than policy disagreements are the biggest obstacle to the landmark crypto market structure bill.
Rafique, who is the exchange’s global managing partner for Corporate Affairs and Investor Relations, said Democrats have little incentive to hand Republicans a major legislative victory ahead of this year's midterm elections, particularly given criticism surrounding President Donald Trump's ties to the crypto industry.
🔗 Source: CoinDesk
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📰 Bybit sues North Korea and Lazarus Group over $1.5 billion hack, secures asset freeze
Bybit, the world’s second-largest cryptocurrency exchange, has filed a civil lawsuit against the Democratic People's Republic of Korea (DPRK), its Reconnaissance General Bureau (RGB) intelligence agency and the Lazarus Group, identified as the DPRK-linked hacking group responsible for stealing $1.5 billion from the exchange last year.
In addition to the lawsuit, filed in the U.S. District Court for the District of Columbia, Bybit said it won a preliminary injunction freezing certain stolen assets held by a group of unidentified individuals and entities, named in the case as John Doe defendants, the exchange said in a press release on Friday.
🔗 Source: CoinDesk
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Bybit, the world’s second-largest cryptocurrency exchange, has filed a civil lawsuit against the Democratic People's Republic of Korea (DPRK), its Reconnaissance General Bureau (RGB) intelligence agency and the Lazarus Group, identified as the DPRK-linked hacking group responsible for stealing $1.5 billion from the exchange last year.
In addition to the lawsuit, filed in the U.S. District Court for the District of Columbia, Bybit said it won a preliminary injunction freezing certain stolen assets held by a group of unidentified individuals and entities, named in the case as John Doe defendants, the exchange said in a press release on Friday.
🔗 Source: CoinDesk
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📰 BitMEX sale collapsed as buyers balked at founder ownership and shrinking business
Before once-popular crypto exchange BitMEX announced plans to wind down operations, it spent two years exploring a sale with multiple prospective buyers including competitor exchanges and payments platform Exodus, but failed to clinch a deal, according to a person familiar with the matter.The would-be acquirers, the person said, were put off by the company's founder-led ownership structure, its shrinking business, andlingering reputational issues.
CoinDeskreported in early 2025 that investment bank Broadhaven was advising the Seychelles-based company on a sale process.
🔗 Source: CoinDesk
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Before once-popular crypto exchange BitMEX announced plans to wind down operations, it spent two years exploring a sale with multiple prospective buyers including competitor exchanges and payments platform Exodus, but failed to clinch a deal, according to a person familiar with the matter.The would-be acquirers, the person said, were put off by the company's founder-led ownership structure, its shrinking business, andlingering reputational issues.
CoinDeskreported in early 2025 that investment bank Broadhaven was advising the Seychelles-based company on a sale process.
🔗 Source: CoinDesk
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