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FTX Estate Sues Binance and Former CEO Zhao for $1.8 Billion Over “Fraudulent” Share Deal
It seems that the bankruptcy of the US crypto exchange FTX will continue to cause ripples across the crypto scene. In a high-stakes lawsuit, the FTX estate is targeting Binance and its former CEO, Changpeng Zhao (CZ), seeking $1.8 billion over a controversial 2021 share buyback deal. Allegations include claims of a “constructive fraudulent transfer” and accusations of tweets that allegedly accelerated FTX’s collapse.
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Crypto Crime: Bitcoin Fog Operator Sentenced to 12-Year Prison Term for Darknet Money Laundering!
Roman Sterlingov, dual Russian-Swedish national and operator of Bitcoin Fog, sentenced to over 12 years in prison for running the darknet’s longest-lasting bitcoin mixer, laundering over $400 million in criminal proceeds. A jury found Sterlingov guilty of money laundering conspiracy, money laundering, operating an unlicensed money transmitting business, and money transmission without a license.
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The X Factor: How Andreessen’s War on ‘Criminal’ Boycotts Could Catapult Musk’s Platform to Unprecedented Heights
In the wake of Donald Trump's recent election victory, a seismic shift is occurring in the landscape of US tech and politics. At the epicenter of this transformation stands X, Elon Musk's controversial social media platform, poised for what could be an unprecedented revenue explosion. Marc Andreessen, co-founder of the influential venture capital firm Andreessen Horowitz and a key investor in X, has thrown down the gauntlet.
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The Tech Oligarchs’ Gambit: How Trump’s Allies in Silicon Valley Could Redefine Power on a Global Scale!
The Trump administration's return brings a powerful alliance of tech moguls like Elon Musk, Peter Thiel, and Marc Andreessen to the forefront, blurring lines between business, politics, and free speech. As they reshape America’s political landscape and along with create a global US tech dominance, critics question the integrity of democracy amid the growing influence of these elite tech figures.
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Trump Eyes SEC Shakeup: Commissioner Mark Uyeda a Strong Contender for New Chair!
With Trump’s return to the White House, speculation is mounting in the crypto community over who will lead the U.S. Securities and Exchange Commission (SEC). Crypto attorney Jake Chervinsky sees Mark Uyeda, an SEC commissioner critical of current Chair Gary Gensler’s crypto policies, as a top candidate for the role. Hester Peirce, known as “Crypto Mom,” is viewed as less likely to step up.
Payment Processors
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Starscream Casinos: Offshore Casino Operator, Potential Regulatory Evasion, Payment Facilitators, and More Cyprus Connections!
Online casinos are easily transferable digital assets. The transfer of Gammix Ltd's casinos to offshore operator Starscream Ltd raises serious questions about the continued illegal gambling activities in Europe. Despite massive penalties from the Dutch regulator KSA, Gammix appears to have simply shifted its operations offshore, where it continues to flout regulatory oversight facilitated by regulated payment processors.
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Cybercrime Alert to Payment Processors: Warning Against Acceptance of Anonymous Domain app-paymentgw.pgws2b.com
The FinTelegram research team has identified a suspicious domain https://app-paymentgw.pgws2b.com currently deployed by several anonymously operated online casinos of Liernin Enterprises, including Malina Casino, Talismania, SlotUna, and others. This domain has been flagged due to its association with activities that potentially violate financial regulations and legal standards for online gambling.
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Report on Cazimbo Casino: The Role of Payment Processors in Facilitating Illegal Online Casinos!
Another day, another exposed illegal online casino facilitated via Cyprus. Payment processors play a crucial role in sustaining this underground economy. FinTelegram's research repeatedly reveals that without these facilitating payment processors, many illegal online schemes, particularly in the gambling sector, would not thrive. Currently, we are focusing on the brands of the collapsed Rabidi Group that continue to operate anonymously and unauthorized. Here is our report on Cazimbo.
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The Rabidi Case: The Mysterious Actions of Beneficial Owner Denys Butko and Other Connections
The case of the Rabidi Group is a prime example of the opacity of the online casino sector. Rabidi, once a significant player in the online gambling industry with a Curacao license, has recently come under scrutiny after the group's sudden disappearance following its bankruptcy in June 2023. Following FinTelegram reports, Denys Butko, the alleged beneficial owner recently deleted his LinkedIn profile.
Cybercrime Court Cases
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FTX Co-Founder Gary Wang Pleads for Freedom, Citing Role as Key Witness Against Bankman-Fried
Gary Wang, co-founder of FTX, has requested a non-custodial sentence in a court memo submitted on November 6th, emphasizing his cooperation as a key witness in the U.S. v. Sam Bankman-Fried case. Wang argues his minimal involvement in FTX’s collapse and his substantial assistance to prosecutors justify leniency. He will be sentenced on Nov. 20 after pleading guilty.
Regulatory Updates
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Crypto’s New Dawn: Trump’s Victory Signals SEC Shakeup and Regulatory Reset!
Following Donald Trump's election victory, there are strong indications that Gary Gensler's tenure as SEC Chair may be coming to an end, with expectations of significant changes to the SEC's approach to crypto regulation. During his campaign, Trump explicitly promised to fire Gensler "on day one" after taking office. While this immediate firing will not take place due to legal restrictions, Gensler's removal seems to be certain.
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Coinbase CEO Brian Armstrong Reaps Rewards from Trump Victory – A Boost for Crypto-Friendly Policies
With Donald Trump’s win, Coinbase CEO Brian Armstrong has seen his fortune grow by over $2 billion as Coinbase shares soared 31% post-election. Armstrong, like Elon Musk, bet big on pro-crypto candidates and now stands as another beneficiary of Trump’s return to power. The crypto community is hopeful that Trump’s administration will usher in a more supportive regulatory environment.
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Payday for Elon Musk: Tesla Soars as Trump Triumphs Thanks to The Musk Factor!
With Donald Trump’s return to the White House, Tesla’s share price has surged, seemingly buoyed by an alliance between Trump and Tesla’s CEO, Elon Musk. Tesla’s meteoric rise, which comes on the heels of Trump’s election win, signals the market’s optimism – not just in Trump’s policies but in Musk’s bold political gamble. Musk's visible support for Trump’s campaign has paid off handsomely as Tesla shares rise on the wave of post-election optimism.
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