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The United States Commodity Futures Trading Commission (CFTC) had its emergency motion for a stay and immediate interim relief in its case against prediction market Kalshi thrown out. After Kalshi’s successful lawsuit against the CFTC, in preparation for its appeal, the commission filed the motion seeking a delay in Kalshi’s ability to resume offering prediction markets in elections. According to the opinion that accompanies the rejection of the motion, the CFTC “has failed at this time to demonstrate that it or the public will be irreparably injured” absent the stay or immediate relief. However, the opinion does also note that “the question on the merits is close and difficult.” In a separate aside, the opinion also raises the question of whether or not Polymarket has complied with its obligation to block access to US persons . US presidential election markets are legal. Officially. Finally. Kalshi prevails. pic.twitter.com/jvObcQDczz — ...

Reports that the former CEO of nChain, Christen Ager-Hanssen, was sentenced to 10 months for the leaking of documents exposing Craig Wright have been confirmed.  According to What The Finance (WTF), a judgment hearing took place on May 3 in the High Court as part of nChain Holding AG’s case against Ager-Hanssen.   During the hearing, the judge established that Ager-Hanssen had broken multiple court orders requiring him to remove leaked documents from the public domain, reveal who received his documents, and give up various devices.    The leaked document was reportedly the Fairway Brief , a collection of confidential information relating to Craig Wright ’s false claims to be Satoshi. The document also alleged Calvin Ayre, Marco Bianchi, and the Fairway Family Office AG conducted a ‘criminal conspiracy’ that would allow Ayre to take over nChain ’s IP for a cheaper rate.    nChain reportedly acquired court orders to remove the information from the public domain before fil...

Publicly shared documents released ahead of the upcoming extradition of notorious crypto Ponzi schemer Do Kwon reveal the stupid turn of events that led to his arrest and that of his compatriot, Joon Chang. Attempting to leave Podgorica, the capital of Montenegro , on a private jet in March of 2023, Kwon and Chang were stopped at a border crossing when they presented fake Costa Rican passports. The pair were attempting to fly to Dubai, the known home of Changpeng Zhao (colloquially known as CZ), founder and former CEO of Binance. After having their luggage confiscated and searched, further problematic documents were discovered, including invalidated South Korean and Belgian passports which included totally different personal information for the two. Indeed, according to these passports, Kwon was called ‘Frederic Nguyen’ and Chang was called ‘Thomas Wang .’ Some of the countries in which Do Kwon has been seen or are seeking his extradition. Read more: T...

In a recent crackdown on il legal Bitcoin mining operations, Indonesian authorities seized 1,134 mining machines and disrupted a multi-site mining operation stealing electricity. This decisive action by law enforcement reflects the country’s commitment to combat unauthorised cryptocurrency activities and protect its resources. With estimated losses of 14.4 billion Indonesian rupiahs (equivalent to around $936,000) , this incident highlights the severe consequences of electricity theft in the crypto sector . In this article, we delve into the details of the operation, its implications, and Indonesia’s broader approach to cryptocurrency regulation . The Raid on Illegal Bitcoin Mining Operations Indonesian police , led by the North Sumatra Police Force , executed a series of raids targeting il legal Bitcoin mining activities across the country. This operation resulted in the discovery of 1,134 Bitcoin mining rigs , electrical cables, and computer equipment....

Hester Peirce, a commissioner with U.S. Securities and Exchange Commission (SEC), clapped back at her colleagues for imposing a $1.7 million fine on defi protocol BarnBridge DAO. Although I did not write a dissent (yet?), I voted against the action. It's another example of the SEC's imprecise legal reasoning in crypto cases, which only adds to the uncertainty for crypto projects in the US. — Hester Peirce (@HesterPeirce) December 23, 2023 BarnBridge DAO, along with its two founders — Tyler Ward and Troy Murray — agreed to settle charges that it sold structured crypto asset securities known as SMART Yield bonds. The firm agreed “to disgorge nearly $1.5 million of proceeds from the sales, and Ward and Murray each agreed to pay a $125,000 [in] civil penalties,” the SEC announced in a statement. “The use of blockchain technology for the unregistered offer and sale of structured finance products to retail investors runs afoul of the securities laws,...

Binance is considering legal recourse after payment processor Checkout.com abruptly decided to cut ties with the crypto exchange. Checkout.com’s letters of termination, issued on Aug. 9 and Aug. 11, allude to regulatory concerns, money laundering allegations, and compliance inquiries. Binance, however, asserts a contrary stance, stating that it does not agree with Checkout’s “rationale for termination.” The firm, under the helm of CEO Changpeng Zhao, is reportedly pursuing potential legal remedies. Despite the partnership dissolution, Binance emphasizes that user services remain unaffected and on-ramp and off-ramp facilities are operational. You might also like: Binance Connect winds down, cites shift in market dynamics The severed partnership has marked the end of Binance Connect, a crypto buy-and-sell platform licensed for operation. Launched in March 2022, the platform facilitated transactions between the cryptocurrency and traditional financia...