Prosecutors have proposed a prison term of five to seven years for Ryan Salame, a former executive at FTX, ahead of his sentencing scheduled for May 28, 2024. This recommendation contrasts sharply with Salame’s legal team’s plea for a more lenient punishment of no more than 18 months. Clash Over Sentencing: Prosecutors Demand 5-7 Years […]
At least 32 individuals connected to the now-defunct Taiwan-based cryptocurrency exchange, ACE Exchange, have been indicted on fraud charges. Prosecutors have recommended 20-year jail terms for the founder, David Pan, and his business partner, while a 12-year jail term has been proposed for Chairman Wang Chen-huan. Token Prices Plummet Taiwanese prosecutors recently indicted at least […]
Federal prosecutors have recommended a 36-month prison sentence for Changpeng Zhao (CZ), the cryptocurrency exchange Binance’s former CEO, for U.S. law violations. Prosecutors contend Zhao’s deliberate non-compliance facilitated massive unlawful transactions, impacting national security and financial systems. CZ’s Legal Woes Deepen With Proposed Three-Year Prison Term Changpeng Zhao, referred to as “CZ” and the brain […]
Alexey Pertsev, a developer for Tornado Cash, has reportedly been indicted by prosecutors in the Netherlands. They accuse him of laundering $ 1.2 billion. Pertsev’s attorney confirmed the prosecutors’ intent to charge his client. According to Dutch prosecutors, while a crypto-mixing service is not “inherently illegal,” using it to launder criminal assets is punishable. …
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 people’s money.” SBF’s Path From Finance Tycoon […]