Four months in prison for CZ, another US state kicks out Binance.US: Law Decoded

While Changpeng CZ Zhao received a surprisingly moderate jail term, Oregon has become the sixth state to revoke, suspend or decline to renew Binance.US license.

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SEC Hacker Fights Prosecutors with 366-Day Sentencing Proposal

The sentencing recommendation for the hacker who breached the SEC has been outlined by the judge overseeing the case. The hacker, responsible for illegally accessing nonpublic information from the U.S. Securities and Exchange Commission (SEC), could face a substantial penalty. The judge is recommending a severe sentence due to the nature of the crime and [...]

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Crypto Community Shows Discontent Over Sam Bankman-Frieds 25-Year Sentence

In a packed courtroom, Sam Bankman-Fried, the founder of the cryptocurrency exchange FTX, was sentenced to 25 years in prison by Judge Lewis A. Kaplan. The sentencing follows a landmark trial that has captured widespread attention for its revelations of financial misconduct within the cryptocurrency industry. Crypto Mogul Sam Bankman-Fried Handed 25-Year Sentence; $11 Billion [...]

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Sam Bankman-Frieds Defense Challenges Super-Villain Narrative in Sentencing Debate

In a detailed letter to Judge Lewis Kaplan, the legal representatives for Sam Bankman-Fried, the embattled founder of cryptocurrency exchange FTX, have vehemently argued against the government’s recommendation for a 50-year prison sentence, labeling it as a “medieval view of punishment.” Legal Team Contests Proposed 50-Year Sentence for Sam Bankman-Fried as Unjust and Excessive In [...]

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Prosecutors Demand 50 Years for Bankman-Fried, Citing FTX Founders Repeated Gambles With Other Peoples Money

In a statement from U.S. Attorney Damian Williams and his team, the fallen FTX founder, Sam Bankman-Fried (SBF), faces a recommendation for up to half a century behind bars for his offenses. The prosecutors argue that SBF has a penchant for high-stake risk and gambling repeatedly with other peoples money.” SBFs Path From Finance Tycoon [...]

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Silk Road Hacker Sentenced to a Year in Prison for Wire Fraud

On April 14, 2023, the Department of Justice (DOJ) for the Southern District of New York revealed that the hacker responsible for the Silk Road marketplace breach had been sentenced to a year in prison for wire fraud charges. James Zhong stole more than 50,000 bitcoin from the darknet marketplace (DNM) in September 2012. DOJ [...]

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Man Sentenced to Prison for Stealing Bitcoin from Silk Road

James Zhong, who stole more than 51,680 Bitcoin from Silk Road in 2012, has been sentenced to one year and one day in prison for wire fraud charges. The Bitcoin was worth roughly $3.4 billion at the time of its seizure in November 2021. (Read More)

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Senator Lummis pushes forward crypto plans after Trump victory: Law Decoded

California revokes BlockFis license amid bankruptcy, Caroline Ellison is sentenced, Crypto.com faces scrutiny in Poland, and Senator Cynthia Lummis supports Trumps Bitcoin reserve proposal.

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Ex-NFL team owner Reggie Fowler gets 6 years for crypto ‘shadow banking’

Reginald Fowler, a former NFL team owner, has been sentenced to six years of prison for operating as a “shadow bank” to the crypto sector, which involved over $700 million in unregulated transactions over a 10-month timespan in 2018. The 63-year-old, who was a co-owner of the Minnesota Vikings, was sentenced to a total of [...]

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US Government Plans to Sell Over 41,000 Bitcoins Confiscated from Silk Road Hacker

According to a court document filed on March 31, 2023, regarding the sentencing of James Zhong, who stole over 50,000 bitcoin from the Silk Road marketplace, the U.S. government plans to liquidate 41,490 bitcoin “over the course of this calendar year.” U.S. Government Discloses Strategy for Selling Confiscated Bitcoin The U.S. government, one of the [...]

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