Tag Archives: blockchain-and-cryptocurrency

Joel Dietz says crypto is rotten, and he’s going to court to try to prove it. Dietz is a self-described “founding member” of Ethereum, the computer network on which the world’s second-largest cryptocurrency is housed. He didn’t pen the code, but in 2014, before Ethereum had launched, he worked as …

For years, the world's largest cryptocurrency exchange, Binance, has been dogged by rumors of malfeasance and federal investigations. Today, in a set of accusations that will rock the already tumultuous world of crypto, the US Department of Justice revealed criminal charges against the company and its chief executive, Changpeng Zhao, …

Binance and its chief executive, Changpeng Zhao, pleaded guilty to criminal charges for anti-money laundering and violations of US sanctions under a sweeping deal with the US Department of Justice. The deal, which will allow the company to continue to operate, will also see Zhao step down as CEO. Binance …

For the past five years, the US Department of Justice has reportedly been investigating Binance, the world’s largest crypto exchange, for suspected money laundering, unlicensed money transmission, and criminal sanctions violations. But now, according to a report in Bloomberg, the DOJ is willing to settle—for $4 billion. Citing anonymous sources, …

It’s the sixth annual Black Blockchain Summit, and organizers are quietly removing a couple rows of chairs from the room. The Howard University auditorium we’re in looks a third empty. There are at most 100 people in the crowd today—a far cry from the 1,500 who attended the summit over …

The simplest legal advice is to say nothing at all. Sam Bankman-Fried, founder of crypto exchange FTX, who recently took to the stand at his own fraud trial, isn’t very good at that. But, most likely, it won’t be his testimony that seals his fate. It will be the monthlong …

Each Sunday morning, the congregation of the International Deliverance Praying Ministry gathers in front of their church, ready to be let in. It’s a modest building in the southside of Nassau, the capital of the Bahamas, on an overgrown and potholed street that floods when it rains. While they wait, …

Sam Bankman-Fried will take the stand at his own trial, his legal counsel has confirmed. The founder of stricken crypto exchange FTX has endured three weeks of bruising testimony in federal court from ex-colleagues, peers, and other witnesses. But Bankman-Fried will now take the opportunity to relay his own version …

At 9:30 am on a Wednesday in late September, a hacker who asked to be called Tom Smith sent me a nonsensical text message: “query voltage recurrence.” Those three words were proof of a remarkable feat—and potentially an extremely valuable one. A few days earlier, I had randomly generated those …

In the three weeks since his trial began, Sam Bankman-Fried, founder of crypto exchange FTX, has watched in near silence as a parade of ex-colleagues, peers and other witnesses have taken the stand. They have testified to his greed, recklessness, bullying and chicanery. His lawyers have offered relatively little in …