DOJ indicts Australian and Los Angeles residents for allegedly orchestrating $25 million crypto scam
US Department of Justice (DOJ) has charged Australian citizen David Gilbert Saffron and Los Angeles resident Vincent Anthony Mazzotta Jr. with using artificial intelligence encryption trading to plan a $25 million Ponzi scheme.
Binance responded to the SEC’s supplementary briefing: the settlement agreement with the US DOJ has no substantial connection with the SEC’s accusations
On December 13th, Binance submitted documents to the federal court in the District of Columbia, stating that the settlement agreement reached between Binance and the US DOJ and FinCEN is not substantively related to the SEC's charges against Binance, and that the SEC's supplemental briefing did not provide new and effective evidence in this case.
Former SEC Official: The US Department of Justice Will Soon Announce or File an Indictment Related to Binance
John Reed Stark, the former head of internet enforcement at the US Securities and Exchange Commission (SEC), said that Binance.US requested a protective order on August 14 to prevent the securities regulator from making excessive demands, which may not be reliable.
FTX’s Bankman-Fried Denies Witness Tampering Allegations, Calls DOJ’s Basis “Extremely Thin”
Attorneys for FTX founder Sam Bankman-Fried have responded to the US Department of Justice's motion to revoke his bond release, calling the factual basis for the allegations of witness tampering "extremely thin." The DOJ had accused Bankman-Fried of sharing former Alameda Research CEO Caroline Ellison's diary with the press in an attempt to influence her testimony in his upcoming criminal trial.
DOJ Seeks Jail Time for FTX Founder Sam Bankman-Fried for Witness Tampering and Obstruction of Justice
The Department of Justice (DOJ) is requesting that FTX founder Sam Bankman-Fried's bail be revoked and that he be detained due to his alleged tampering with witnesses and obstruction of investigations. The DOJ claims that Bankman-Fried's actions demonstrate that no pretrial release conditions can ensure the safety of the community, and that he is unlikely to comply with any conditions of release. Bankman-Fried is accused of leaking diary writings belonging to Caroline Ellison, the former CEO of FTX's trading arm Alameda Research, in an attempt to intimidate and corruptly persuade her from testifying. Currently living in his parents' home in Paolo Alto, California, Bankman-Fried is awaiting trial.
US DOJ Plans Crackdown on Short Selling Amid Concerns of Market Manipulation
The DOJ is reportedly planning to take action against short selling, a practice that profits from betting against stock price surges. The market integrity team has expressed concerns and warned of future activity against short sellers. The DOJ may also take action against officials using corporate trading plans to manipulate the market. Ripple's lawyer in the SEC Vs Ripple lawsuit commented on the DOJ's decision, stating that it highlights the SEC's inability to provide clear regulations.
DOJ Urges Lawmakers to Return Cryptocurrency-Linked Campaign Donations from FTX Exchange
The Department of Justice (DOJ) is urging lawmakers who received campaign contributions from FTX, a cryptocurrency exchange, to return the donations. Several Congressional campaigns, including those of Rep. Bob Latta and Lori Chavez-DeRemer, have already complied with the DOJ's request.
US Department of Justice to Target Digital Asset Platforms and Mixers/Tumblers in Crypto Crackdown
The head of the crypto unit at the U.S. Department of Justice (DOJ), Eun Young Choi, has announced that the DOJ will be targeting digital platforms, including crypto exchanges, that are making it easy for criminals and money launderers to move funds without being detected.
DOJ to Crack Down on Rogue Crypto Trading Platforms and Investment Scams, Says Official
The United States Department of Justice (DOJ) is set to target rogue cryptocurrency trading platforms and investment scams, according to the director of the National Cryptocurrency Enforcement Team (NCET), Eun Young Choi. The move comes after an FBI report revealed that American citizens lost $2.5 billion to crypto scams in 2022. Choi stated that her department will focus on entities that aid criminals in processing their illicit money or turn a blind eye to such activities. Additionally, she clarified that her team's focus is on hackers and exploiters of Defi and bridge chain protocols, particularly state-sponsored North Korean bad actors.
US Justice Department to Increase Scrutiny of Crypto Trading Platforms for Illicit Behavior
The U.S. Justice Department is set to increase its scrutiny of cryptocurrency trading platforms in order to target illicit behavior. The department will be targeting exchanges that engage in criminal activities or allow other criminal actors to profit from their crimes. The DOJ also plans to focus on crimes in the decentralized finance space, particularly relating to chain bridges. The crackdown on the crypto sector has led to more companies leaving the U.S. in search of friendlier jurisdictions, and American policymakers should provide a realistic registration rulebook for centralized exchanges to operate within the country instead of killing innovation with impossible rules.
