SBF was sentenced to a total of 25 years in prison in New York , and the judge ordered the confiscation of more than US$11 billion in assets
According to Inner City Press, Judge Kaplan analyzed the defendant’s background and behavior in detail during the SBF financial crime case. The defendant had a superior growing environment, with parents who loved him and cared for him. He enjoyed all the advantages his parents could give him, and he also attended the Massachusetts Institute of Technology. After graduating from MIT, Jane Street earned a large fortune and made extensive donations. Despite being autistic, the defendant displayed exceptional intelligence and achievement but displayed unusual social clumsiness. He has shown unusual ambition and has talked about establishing two major companies and his strong interest in politics, intending to use his wealth to influence the political situation. He has also set up anonymous donation channels to support right-wing groups while claiming to support proper regulation of the cryptocurrency industry. However, according to Judge Kaplan, it was all just a show. The defendant admitted in an interview that his remarks on regulation were merely a public relations ploy and that he held a disdainful attitude towards regulators. When he wasn't lying, he was evasive and restless, trying to get prosecutors to rephrase questions for him. Judge Kaplan said he had never seen anything like this in his nearly 30 years of work. According to Reuters, FTX founder SBF was sentenced to 20 years in prison in New York for multi-billion dollar fraud, which was later updated to 25 years. According to Inner City Press, Judge Kaplan said: The court sentenced the defendant to serve 240 months in prison first, and then serve 60 months in prison consecutively, making the total sentence served 300 months, or 25 years.
Additionally, a judge ordered the forfeiture of more than $11 billion in assets from Sam Bankman-Fried (SBF), Bloomberg reported. In addition, the judge will recommend that SBF be placed in a prison close to his family's home in the San Francisco Bay Area.
According to previous news, SBF admitted that its decision-making led to the collapse of FTX and Alameda Research, and apologized for this .
The United States and the United Kingdom are investigating more than $20 billion in USDT transactions through Russian crypto exchage Garantex, Bloomberg reported, citing people familiar with the matter. It is reported that these transactions occurred after Garantex was sanctioned by the United States and the United Kingdom for allegedly facilitating financial crimes in Russia. People familiar with the matter said the investigation is ongoing. Given the complexity and opacity of cryptocurrency trading, it is too early to predict conclusions. There is currently no indication of wrongdoing by Tether Holdings. Earlier this month, Garantex said it was actively cooperating with European and U.S. authorities to prevent the exchange from being used for illegal activities. Garantex was founded in Estonia in 2019, but the U.S. government says most of its operations are now based in Moscow.
Detained Binance executive Tigran Gambaryan has filed legal proceedings against Nigerian authorities, including National Security Advisor (NSA) Nuhu Ribadu and the Economic and Financial Crimes Commission (EFCC), accusing them of human rights violations, Cryptoslate reported. Meanwhile, the Nigerian authorities’ tax evasion case against the crypto trading platform and its executives is expected to begin on April 4. Gambaryan filed a motion before the Federal High Court in Abuja, setting out five key demands. The demands include a declaration that his detention and continued confiscation of his passport violates his right to liberty under the Nigerian constitution; a court order for his immediate release and return of his passport; and a permanent injunction preventing authorities from further detaining him in connection with the Binance investigation. he. Additionally, the motion seeks a public apology and stipulates that the defendants be responsible for all costs incurred during the proceedings. Nadeem Anjarwalla initially took similar legal action to safeguard his fundamental human rights. However, after he escaped from custody on March 22, his legal representatives withdrew the motion. Due to the absence of the defendant and the lack of legal representation for one of the applicants, the court The trial was adjourned to April 8.
AI analytics firm Helika launches $50 million crypto gaming accelerator
Helika, an artificial intelligence analytics company focused on the video game industry, announced on Thursday the launch of Helika Accelerate, an accelerator program designed to support global studios developing blockchain games and sustain continued user and revenue growth, Decrypt reported. The initiative is backed by venture capital firms such as Pantera, Spartan Capital, Sfermion and others, which have committed a total of up to $50 million in selected studios.
Helika co-founder and CEO Anton Umnov said Helika Accelerate will focus on "early-stage studios" that have raised some funding, are deep into developing functional games, and need help with in-game economics. The company's AI-driven analytics tools use player behavior data and hope to inform marketing campaigns and game design, among other things. While its announcement highlighted its focus on crypto games, Umnov said Helika Accelerate will also work with studios developing traditional video games.
According to previous news in February, Helika completed $8 million in Series A financing, with investors including Pantera, Animoca, Diagram and Sfermion.
Bitwise CIO expects institutions to inject over $1 trillion into Bitcoin via ETFs
According to Cryptoslate, Bitwise Chief Investment Officer Matt Hougan said in the company’s latest weekly investor report that as due diligence is completed and further investments are approved, institutions are expected to inject more than 1 billion into Bitcoin through ETFs in the next year. Trillions of dollars. Hougan urges investment professionals to maintain a long-term view amid the current volatile state of the cryptocurrency market, especially Bitcoin. Hougan noted that the market is in a "short-term holding mode" in anticipation of major upcoming events. Each development will shape the market's short-term trajectory in the coming months, he added. These include expectations of the Bitcoin halving around April 17, potential approval of spot Bitcoin ETFs by platforms such as Morgan Stanley or Wells Fargo, and the completion of formal due diligence on Bitcoin investments by various investment committees. Despite the short-term uncertainty, Hougan remains bullish on Bitcoin’s long-term prospects. He pointed out that the successful launch of the spot Bitcoin ETF marked an important moment for investment professionals to enter the cryptocurrency market. Hougan highlighted the vastness of the global investment market, with over $100 trillion controlled by professionals, and the relative newness of these funds’ involvement in the cryptocurrency space. Hougan pointed out that there have been historic inflows of $120 billion since the ETF was launched, and he assumed that even if global wealth managers allocated 1% of their assets to Bitcoin on average, there would be approximately $1 trillion of inflows. In one area, this far exceeds current investment levels. This comparison highlights the early stages of cryptocurrency adoption by the investment community and the huge potential for growth. Hougan summed up this sentiment with the phrase “100% water, 99% waiting.” Hougan’s report also serves as a warning, reminding investors of the inherent risks and volatility associated with cryptocurrency trading. He emphasized that individual investors need to conduct thorough due diligence and consider their own investment suitability before entering the market.
Security company vx-underground said on the X platform that it has discovered a malware targeting gamers in the past few days. Information is currently being exploited by unknown threat actors who are using information-stealing software to target individuals who are cheating (pay-to-cheat) in games. Some of these accounts are not cheaters. Some of the affected users use gaming software to improve network latency, use VPNs, and controller enhancement software. A Call of Duty cheat software provider called PhantomOverlay discovered the fraudulent activity when user accounts began making unauthorized purchases. The cheat software provider was the first to discover the fraudulent activity and contacted the suspected victim.
The impact is widespread, and Activision Blizzard is working with cheat software providers to help users affected by this massive information-stealing campaign. The current estimated impacts are as follows: 3,662,627 Blizzard Battlenet accounts were stolen, 561,183 Activision accounts were stolen, 117,366 elite PVP player accounts were stolen, 572,831 UnknownCheats accounts were stolen, and 1,365 Phantom Overlay accounts were stolen. Steal.
When PhantomOverlay's administrators asked Elite PVPers about compromised accounts, Elite PVPers confirmed that they had identified more than 40,000 valid compromised user accounts. These appear to be newly stolen credentials and were not present in previous publicly available credential dumps. However, due to the sheer volume of data, it was not possible to thoroughly review duplicate data. Additionally, affected users have begun reporting that they have been victims of cryptocurrency theft – having had their Electrum BTC wallets emptied. There is no information yet on the amount stolen.
According to The Block, Filecoin’s liquid staking protocol Glif has launched a points program and will distribute 75 million points. Both Filecoin storage providers and liquidity providers are eligible for points. One source said Glif plans to convert points into an upcoming native token at a 1:1 ratio. The token is expected to launch sometime this summer. According to previous news, Glif completed a $4.5 million seed round of financing in February this year, led by venture capital companies such as Multicoin Capital. It is reported that Glif provides FIL token holders with a way to earn income through its "liquidity leasing" model.
Wormhole will open airdrop applications on April 3
Wormhole announced on Twitter that it will open airdrop claims (Claim) at 19:30 on April 3, 2024, Beijing time.
Bitwise has submitted an Ethereum spot ETF application to the U.S. SEC
According to The Block, Bitwise submitted an Ethereum spot ETF application to the U.S. Securities and Exchange Commission (SEC) on Thursday. Earlier this month, Bitwise CIO Matt Hougan said that an Ethereum spot ETF should ideally be approved after May. Bloomberg ETF analysts estimate that the likelihood of the Ethereum spot ETF being approved in May is about 30%.
FTX Estate’s sale of $7.5 billion worth of locked SOL sparks strong market interest
The sale of $7.5 billion worth of locked Solana (SOL) by FTX Estate has generated strong market interest, The Block reported. Galaxy Asset Management was selected by FTX Legacy to facilitate the token sale, and the first company to publicly announce the purchase of Solana locked in FTX Legacy was Neptune Digital, stating that it purchased 26,964 SOL at a price of $64 per token. Additionally, Galaxy Trading is raising funds from investors to participate in the bidding at $64 per token. The report also mentioned that in addition to Solana, Galaxy Asset Management is also selling other Solana and Ethereum-based tokens, with a total value of approximately $211 million.
Circle: Native USDC will be launched on the zkSync network
Circle officially announced that native USDC will soon be launched on the zkSync network, which is expected to enhance its liquidity and gradually replace the USDC currently bridged from Ethereum via the zkSync Era Bridge. Prior to the launch of native USDC, the Ethereum bridge USDC on zkSync Era Block Explorer will be renamed USDC.e. In addition, developers can now obtain testnet USDC on zkSync Era Sepolia through Circle’s testnet Faucet to prepare for the integration work.
TON announced on its Twitter that the TON Foundation has airdropped nearly 200,000 TON coins, worth approximately $1 million, to active DEX traders on DeDust and STON.fi. The snapshot time of this airdrop is 15:00 on March 26, Beijing time. Users using Witch addresses have been disqualified. Eligible users need to exchange Open League tokens at least 10 times starting from March 4, with a transaction volume of more than $2,000, to be eligible for the airdrop. The greater the transaction volume and number of transactions a participant has, the more airdrop points they will receive.
Security agency: Prisma Finance was attacked and lost 2,275 ETH, worth $8.1 million
According to MetaTrust Alert monitoring, the LSD stablecoin protocol Prisma Finance was attacked and lost 2,275 ETH, worth $8.1 million. Attacker: 0x7e39e3b3ff7adef2613d5cc49558eab74b9a4202. Later, Prisma Finance officially stated that it has realized that there may be a vulnerability on Prisma, and core engineering contributors will suspend the protocol and investigate.
PANews reported on March 28 that FLock, a Web3 artificial intelligence training company, raised US$6 million in a seed round of financing. This round of financing was led by Lightspeed Faction and Tagus Capital, with DCG, OKX Ventures and Volt Capital also participating in the investment. FLock plans to use the funds to expand the team and develop an AI training platform powered by federated learning, a decentralized machine learning approach that emphasizes data privacy.
Stablecoin project Midas completes US$8.75 million in seed round financing
According to official news, the stablecoin project Midas completed a seed round of financing of US$8.75 million, led by BlockTower, Framework and HV Capital, with participation from institutions such as Coinbase Ventures, Ledger, GSR, Hack VC, Axelar and FJ Labs. At the same time, Midas will launch mTBILL, a stablecoin designed to track short-term U.S. Treasury bonds. Each mTBILL token represents one share of the BlackRock German Bond ETF.
Data: Grayscale GBTC had a net outflow of approximately US$104.9 million yesterday
According to data monitoring by Farside Investors, on March 28, the net outflow of Grayscale Bitcoin spot ETF GBTC was approximately US$104.9 million, Bitwise’s BITB capital inflow was approximately US$67 million, Ark 21Shares’ ARKB capital inflow was approximately US$27.6 million, and WisdomTree’s BTCW capital flow The data is counted as 0. There is currently no other ETF fund flow data on March 28.
Later news showed that on March 28, Fidelity Bitcoin Spot ETF FBTC had an inflow of approximately US$68.1 million, and VanEck’s HODL had an inflow of approximately US$20 million. BlackRock's IBIT saw about $95 million in inflows.
BlackRock IBIT trading volume reached $1.8 billion on March 28
According to monitoring by HODL15Capital, the trading volume data of Bitcoin spot ETFs on March 28 are as follows: BlackRock IBIT US$1.8 billion, Grayscale GBTC US$748 million, Fidelity FBTC US$657 million, ARKB US$225 million, and BITB US$123 million. In addition, on that day, ARKB had a net inflow of US$27.6 million, BITB had a net inflow of US$67 million, and Grayscale GBTC had a net outflow of US$105 million.
Data: Crypto industry lost $336 million due to hacks and scams in Q1 this year
According to The Block, data released by blockchain security company Immunefi shows that in the first quarter of 2024, the encryption industry lost $336 million due to hacking attacks and fraud. This loss was down from $437.5 million in the same period last year. Orbit Bridge and Munchables were the two projects with the biggest losses, accounting for 43% of the total, although Munchables' funds were later recovered. The report also noted that in the first quarter of this year, the number of attacks decreased by 17.6% compared to the same period last year, from 74 to 61.
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