Telo News - Crypto | DeFi | Web3

28 Mar 2024 15:24

Judge Kaplan stated that he found the loss amount to victims of SBF’s crimes exceeds $550m — the high end of the range given by federal sentencing guidelines. Kaplan further mentioned that he found there was a loss to investors of $1.7bn, a loss to Alameda lenders of $1.3bn, and a loss to FTX customers of $8bn.

Furthermore, the Judge noted that he found SBF committed witness tampering before he was remanded into custody, and that he falsely testified that he had no knowledge that Alameda had spent FTX customer deposits before the fall of 2022.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

28 Mar 2024 14:19

As of today, US prosecutors have requested a sentence of 40-50 years for SBF. In response, SBF's lawyers have pushed back, describing the recommendation as a "medieval... death-in-prison sentencing recommendation." They argue that a sentence of no more than six and a half years is appropriate for a non-violent first-time offender.

However, the length of the sentence lies in the hands of Judge Lewis Kaplan of the Southern District of New York. Judge Kaplan will consider these recommendations along with the guidance from the Probation Department, which has suggested a 100-year sentence.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

28 Mar 2024 13:42

The sentencing hearing for Sam Bankman-Fried will be held at 9:30 EST on the 26th floor of the Federal Court in downtown Manhattan. He is currently charged with seven criminal charges and faces a maximum sentence of more than 100 years in prison, though the government has suggested a sentence in the range of 40 to 50 years.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

28 Mar 2024 11:59

21Shares, one of the largest cryptocurrency exchange-traded product (ETP) issuers, has launched a staking ETP named TONN based on the cryptocurrency Toncoin (TON).

The new Toncoin Staking ETP is a 100% physically backed product that tracks the performance of TON while reinvesting staking yields into the ETP for enhanced performance.

With 21Shares, investors will be able to enjoy the benefits of staking Toncoin without the technical complexities associated with TON staking.

The Toncoin Staking ETP held $25m at launch, equivalent to roughly 5m TON. The ETP’s net asset value debuted at $20.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

28 Mar 2024 09:43

Judge reportedly dismissed antitrust lawsuit against Apple by Venmo and Cash App customers, citing fatal issues in the complaint.

Plaintiffs failed to establish antitrust actions or include competitors like Zelle.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

27 Mar 2024 20:29

Hong Kong-listed company Inkeverse has approved a $100m budget for purchasing cryptocurrencies over the next five years from regulated platforms, funded by existing cash reserves.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

27 Mar 2024 19:28

Dutch prosecutors are reportedly pursuing a 64-month jail term for Tornado Cash developer Alexey Pertsev.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

27 Mar 2024 14:54

💡💡💡
The OKX API experienced a failure, causing user account balances to display error amounts. Some accounts showed zero balances, while others soared to tens of millions of dollars, impacting thousands of users in areas including Singapore, the United Kingdom, Japan, among others.

Some traders reported suffering significant losses due to the lack of data on positions obtained through the API. OKX responded, stating that there are currently error reporting issues in the account balance and position interfaces, and that the technology team is addressing the matter urgently.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

27 Mar 2024 11:37

Hong Kong-based asset manager VSFG and Value Partners have reportedly submitted applications for a spot Bitcoin ETF.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

27 Mar 2024 09:39

HSBC introduced gold tokenized products for Hong Kong retail investors, partnering with Metaco since November.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

27 Mar 2024 08:28

KuCoin reportedly considered ceasing operations and selling the exchange in 2023 amid US and Chinese investigations.

Following formal lawsuits by the US government, about $500m in assets, including USDT and ETH, were withdrawn from KuCoin's Ethereum wallets. Despite this, KuCoin still holds over $3.6bn in assets on Ethereum.

0xscope data shows a net outflow of approximately $1.195bn from KuCoin in the past 24 hours, leaving the exchange with $4.02bn in assets, including its exchange tokens.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

26 Mar 2024 19:59

FTX customers are reportedly seeking compensation for three digital tokens, Serum, MAPS, and OXY, known as "Sam Coins," associated with SBF, despite FTX's assessment of their low value. They are asking the court to increase the valuation of these tokens.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

26 Mar 2024 17:36

Tether is ramping up its AI efforts, aiming to develop open-source multimodal AI models and is launching a global recruitment drive to bolster its AI division with top-tier talent.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

26 Mar 2024 11:27

According to Coinbase, the crypto market remains focused on spot Bitcoin ETF flows over fundamentals, with Coinbase reporting $836m in net outflows from March 18 to March 21.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

26 Mar 2024 08:13

Ripple's CEO criticized Gensler's SEC for allegedly acting outside the law, citing judges' admonishments for a "gross abuse of power" in the DEBT Box case and for lacking "faithful allegiance to the law" in the Ripple case.

He also noted Gensler's purported lack of attention to SBFraud.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

28 Mar 2024 14:42

According to journalists, OKX has internally elevated its US-based compliance department to the highest priority among all departments. All operations are now conducted with the utmost priority by this compliance department.

With the recent indictment of KuCoin and its founders, rumors surrounding the risks of other offshore exchanges are also emerging. OKX recently announced that it would delist USDT in Europe and conduct the largest USDT freeze in history with Tether.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

28 Mar 2024 13:59

Less than 30% of jurisdictions globally have started regulating cryptocurrencies, prompting a call to action from FATF's president.

The FATF emphasized the need for regulations to mitigate risks of money laundering and terrorist financing in crypto.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

28 Mar 2024 12:05

▪️Exchange-Traded Product (ETP)

A type of financial instrument which allows investors to gain exposure to the price movements of an underlying asset without having to own the asset itself.

ETPs are physically backed, meaning settlement is in the underlying asset, rather than a cash equivalent.

ETPs can be traded on regulated exchanges in the same manner as company stocks and shares.

@Crypto101_en

Telo News - Crypto | DeFi | Web3

28 Mar 2024 10:09

Starting in January 2025, Indonesia's Financial Services Authority (OJK) will regulate the crypto industry.

Crypto firms must pass a sandbox evaluation to operate legally and prevent fraud. Operating without sandbox approval will be illegal.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

27 Mar 2024 21:21

According to the CIO of Bitwise, professional investors now consider a 3% Bitcoin allocation to their portfolios, which is triple the previous norm of 1%, due to the launch of US spot Bitcoin ETFs.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

27 Mar 2024 19:49

Fidelity filed Form S-1 for spot Ethereum ETF with staking feature, but Bloomberg analyst predict likely application rejection in May.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

27 Mar 2024 15:08

The SEC's claim that Coinbase Wallet is an unregistered broker has been dismissed, while the dismissal of Coinbase's staking program has been denied.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

27 Mar 2024 12:24

The UK's Financial Conduct Authority (FCA) stated that so-called "finfluencers" must obtain approval from an FCA-appointed representative before advertising or posting memes about financial products and services.

The regulator wrote:

"Influencers are reminded that promoting a financial product without approval from an FCA-authorised person with the right permission could be a criminal offence."

Telo News - Crypto | DeFi | Web3

27 Mar 2024 10:24

The Liquid Inventory Ratio, as reported by CryptoQuant's CEO, has hit an all-time low, indicating significantly reduced sell-side liquidity compared to historical levels relative to demand.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

27 Mar 2024 08:56

Jihan Wu's Bitdeer is reportedly seeking $100m in financing to enhance its Bitcoin mining operations, competing with Bitmain's Whatsminer with new chips and rigs.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

26 Mar 2024 20:48

According to Bloomberg analyst, Hong Kong's financial regulator is likely to approve in-kind creations and redemptions for spot Bitcoin ETFs, potentially opening up the crypto market to a large investor base in China.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

26 Mar 2024 19:35

The CFTC complaint against KuCoin asserted that Ether and Litecoin, alongside Bitcoin, are commodities.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

26 Mar 2024 16:21

⚡️⚡️⚡️⚡️⚡️⚡️
The US Attorney for the Southern District of New York, and the Acting Special Agent in Charge of the New York Field Office of Homeland Security Investigations, criminally charged KuCoin and two of its founders with bank secrecy act and unlicensed money transmission offenses, alleging they helped grow the exchange into one of the largest crypto exchanges globally. Furthermore, the founders affirmatively attempted to conceal the existence of KuCoin’s US customers.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

26 Mar 2024 09:50

Swift's report showcased successful experiments with 38 global institutions on its CBDC interlinking solution, indicating streamlined financial transactions and CBDC integration.

▪ Telegram ▪ X
▪ Community ▪ Source

Telo News - Crypto | DeFi | Web3

26 Mar 2024 06:21

The SEC is reportedly pursuing $2bn in fines from Ripple Labs in their legal dispute over the sale of XRP, with Ripple's Chief Legal Officer calling the SEC's actions misleading and punitive.

▪ Telegram ▪ X
▪ Community ▪ Source