Tag: Officials

BlackRock met with SEC officials to discuss spot Bitcoin ETF

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Representatives from BlackRock and the Nasdaq met with the United States Securities and Exchange Commission to discuss the proposed rule allowing the listing of a spot Bitcoin (BTC) exchange-traded fund, or ETF. According to a Nov. 20 SEC memo, BlackRock provided a presentation detailing how the firm could use an in-kind or in-cash redemption model for its iShares Bitcoin Trust. It’s unclear how SEC officials responded to the two proposed models or if they intend to approve a spot BTC ETF after numerous delays and rejections. Looks like @BlackRock also…

DPRK hackers impersonate South Korean officials to steal crypto

According to South Korea’s National Police Agency, the hackers stole the information of 1,468 victims between March and October 2023. North Korean hackers are now trying to lure victims by pretending to be South Korean officials and journalists in a bid to steal crypto. According to a Korean local newspaper Korea JoongAng Daily, DPRK-linked cybercriminals stole the information of 1,468 victims between March and October 2023, including 57 incumbent or “retired government officials in diplomacy, military and national security.” The police say North Korea has doubled down on its efforts…

US officials announce $4.3B settlement with Binance, plea deal with CZ

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Officials with the United States Department of Justice announced that Binance CEO Changpeng “CZ” Zhao will plead guilty to one felony charge as part of a settlement over criminal and civil cases with the exchange. “In a Nov. 21 press conference, Attorney General Merrick Garland announced that CZ entered his plea in person in U.S. federal court despite residing outside the country. He added that a $4.3-billion settlement with Binance and CZ would cover “civil regulatory enforcement actions” by government departments including the U.S. Treasury and Commodity Futures Trading Commission (CFTC). According to…

Ukraine officials get training on crypto and virtual assets investigation

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14 Ukrainian officials received advanced training on investigating new-age financial crimes in a training course held from Nov. 14 to Nov. 17 in Vienna, Austria. According to a report released by the Organization for Security and Co-operation in Europe (OSEC), select supervisory and law enforcement officials from Ukraine learned about advanced techniques and tools required to investigate financial crimes using virtual assets. OSEC comprises 57 participating countries from Europe, Asia and North America that aim to tackle security-related and other concerns globally. Participants of the advanced training on virtual asset and…

Fed, BOE officials share continuing interest in CBDCs, stablecoin regulation

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The Federal Reserve Board continues to research a central bank digital currency (CBDC), or at least adjacent technologies, Vice Chair Michael Barr said on Oct. 27. He also touched on stablecoins at the Economics of Payments XII Conference, where his English colleague Sir Jon Cunliffe made his last speech as deputy governor of the Bank of England (BOE). The Fed’s research is currently focused on “end-to-end system architecture,” such as ledgers and tokenization and custody models for an intermediated CBDC, Barr said in Washington. Barr repeated the Fed mantra of…

ECB officials move to ‘preparation phase’ for digital euro

The governing council of the European Central Bank (ECB) has announced it will begin the ”preparation phase” for the digital euro project following a two-year investigation. In an Oct. 18 notice, the ECB said it plans to “start laying the foundation for the possible issuance of a digital euro” beginning on Nov. 1, adding the issuance of a central bank digital currency (CBDC) was not a foregone conclusion. The announcement followed the release of a 44-page report on a potential digital euro’s design and distribution. The preparation phase, as the…

Federal Reserve Officials Maintain Cautious Stance on Interest Rates

Following the September meeting, the 10-year Treasury yield had risen to approximately 4.66% as of October 10, reflecting the expected rate increases that policymakers had indicated earlier. Federal Reserve officials have opted to maintain their cautious approach to monetary policy, leaving interest rates unchanged during their September meeting. Minutes from the September 19-20 meeting revealed a consensus among policymakers that the US economy faced mounting uncertainties. Most meeting participants believed a further increase in the target federal funds rate would likely be necessary, while some argued against additional hikes. However,…

SBF bribed Chinese officials for $150M to unfreeze funds

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Caroline Ellison, the former romantic partner of embattled FTX founder Sam “SBF” Bankman-Fried and the former CEO of Alameda Research, has claimed in her courtroom testimony that SBF bribed Chinese officials for millions of dollars to unfreeze funds locked in local exchanges.  In her Oct. 11 testimony, Ellison said there was $1 billion in funds locked up in China and that to access them, Alameda paid a $150 million bribe to Chinese government officials. AUSA: How much was frozen in China?Ellison: $1 billion. Sam wanted to find ways to address it.…

Alameda Research Accused Of Bribing Chinese Officials To Recover $1 Billion In Exchange Accounts

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During the trial of Sam Bankman-Fried, the founder of crypto exchange FTX, shocking revelations emerged from the testimony of former Alameda Research CEO Caroline Ellison.  According to a TechCrunch report, Ellison testified that the crypto trading firm paid Chinese officials to unlock their Alameda trading accounts on OKX and Huobi in China. Judge Lewis Kaplan clarified that Bankman-Fried was not charged with bribery in this case. Still, the evidence was presented to demonstrate trust, confidence, and motive between Bankman-Fried and Ellison. Alameda Research Former CEO Exposes Hidden Payments To Chinese…

U.S. officials link North Korea to the major security breach at Mixin

A U.S. official implicates North Korea in a significant cyberattack on decentralized finance platform Mixin Network, with losses under $150 million. A high-ranking U.S. government official has indicated that North Korea is the likely culprit behind a major security intrusion targeting the decentralized finance platform Mixin Network. Earlier assessments suggested that Mixin Network suffered a financial loss amounting to $200 million following a cyberattack that took place in late September. However, the organization revised this figure to less than $150 million after conducting a thorough review. [Update]After statistical analysis, the…