Crypto crackdowns and investigations on the rise

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Avraham Eisenberg is accused of manipulating and defrauding the commodities market. Penalties for the charges could include jail sentences or fines. According to the FBI, Eisenberg “willfully and intentionally” influenced the selling of futures contracts on Mango Market, commodities. According to court records, he raised the cost of the contracts by 1,300% in less than an hour, earning him $110 million. According to a second filing submitted by Assistant U.S. Attorney Thomas Burnett, Eisenberg was arrested Monday evening in Puerto Rico.

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According to reports, the US Department of Justice had started a criminal investigation into an attempted hack that is believed to have stolen approximately $400 million from wallets under the control of FTX on the evening of November 11, when the Bahamas-based exchange filed for bankruptcy. According to Bloomberg, The fraud prosecution against disgraced former CEO Sam Bankman-Fried is unrelated to this issue. They weren’t familiar with the transfers, according to many FTX employees who spoke with the Twitter investigator ZachXBT. More than an hour after the alleged hack started, FTX General Counsel Ryne Miller tweeted that his business was “investigating irregularities with wallet movements” and afterward pinned a message in FTX’s official Telegram support channel that read: “FTX has been hacked.

According to the Japanese publication Nikkei, Japan’s Financial Services Agency is looking for input on new rules that permit stablecoins issued outside the nation to be listed on regional exchanges. Japan’s parliament established a package of regulations tailored to stablecoins that were focused on investor protection in the wake of the multibillion-dollar stablecoin issuer Terra’s bankruptcy earlier this year. Stablecoins with an emphasis on payments, which are digital currencies that are linked to the value of national currencies like the dollar, will be handled by local distributors. The framework will take effect later in the year and is available for public discussions until January 31.

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