North Korea’s ‘Lazarus’ Hackers Stole $41 Million From Crypto Gambling Site, FBI Says
The Lazarus Group has been targeting crypto companies for years now.Source
Ex-FTX Executive Ryan Salame Could Forfeit $1.5B as Part of Guilty Plea
Prosecutors say Sam Bankman-Fried used Salame as a “straw donor” to secretly funnel millions of dollars to Republican political candidates.Source
Fraud Lawsuit Against Michael Egorov, the CEO of DeFi Giant Curve, Is Quashed in California
A judge ruled a California courtroom is the wrong venue since Egorov wasn’t living in the state when the alleged misdeeds took place.Source
CFTC Commissioner Pitches Pilot Program for U.S. Crypto Regulation
The U.S. watchdog for derivatives markets should create a limited pilot program for regulating cryptocurrencies, said Caroline Pham, one of the members of the Commodity Futures Trading Commission (CFTC).Source
FASB’s Crypto Accounting Shakeup Could Lure More Corporate Investment, Michael Saylor and Others Argue
The U.S. accounting standards board yesterday unanimously voted in favor of “fair value” accounting for crypto assets held on corporate balance sheets.Source
Binance Boosts Bitcoin, Ether Trading in Argentine, Brazilian, South African Currencies With Fee Promotion
The crypto exchange’s promotion comes as trading volumes plummet to four-year lows, hurting the revenue streams.Source
SEC’s Gensler Should Be Focus of More Hearings on Treatment of Crypto: U.S. Senator
Sen. Bill Hagerty (R-Tenn.) previewed the lawmaker ire in store for U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler as Congress returns from its summer break, with Hagerty accusing the regulator of stomping on crypto innovation during a speech on Thursday.Source
U.K. Crypto Firms Can Apply for 3-Month Reprieve to Comply With Tough New Ad Rules
Bans on aggressive marketing were set to take effect in October, but companies can apply to delay some aspects until January.Source
Crypto Exchange Kraken’s UK Derivatives Unit Looking to Expands Its Service: Bloomberg
The firm is looking move into a void in the crypto derivatives market left when FTX collapsed last November.Source
Coinbase-Backed Insurance Alternative OpenCover Debuts on Layer 2 Blockchain Base
OpenCover, which raised $4 million in a seed round led by the likes of NFX and Jump Crypto, received a $200,000 funding bump from Coinbase to bolster its debut on Base.Source