By Emir Abyazov Key highlights: Do Kwon pleads guilty to two wire fraud charges, waives trial in New York federal court. Plea agreement includes $19 million financial penalties; sentencing set for December 11. The case follows the Terra collapse, causing $40B losses, marked by complex extradition and lawsuits. Do Kwon, co-founder of Terraform Labs, has […]
Tag: US
By Emir Abyazov Key highlights: Banking groups warn stablecoin yield loophole risks $6.6 trillion deposit outflow. GENIUS Act bans direct stablecoin interest but loophole allows yield via affiliates. Banks fear stablecoins offering yield could destabilize credit and increase borrowing costs. US banking groups have urged Congress to close a loophole in the GENIUS Act, which […]
By Emir Abyazov Key highlights: Embargo group laundered $34M via crypto targeting US healthcare and industries. Linked to BlackCat hackers; demands reached $1.3M per attack on hospitals. Group uses AI-enhanced phishing, exploits poorly regulated exchanges globally. The Embargo ransomware group cashed out $34 million through cryptocurrency transactions during just nine months of operation, according to […]