The shock wave around the FTX explosion was felt globally as it severely fractured investor confidence. However, seasoned crypto entrepreneurs and supporters — including Changpeng “CZ” Zhao and Salvadoran President Nayib Bukele — continue to see through the fog while pushing forward their vision for financial freedom. Bukele was the man behind Bitcoin’s (BTC) mainstream adoption in El Salvador. Despite the backlash he previously received for purchasing BTC as markets crashed, Bukele cited the recent FTX collapse to explain why Bitcoin is different. FTX is the opposite of #Bitcoin #Bitcoin ’s protocol was created precisely to prevent Ponzi schemes, bank …

Blockchain-based intelligence company TRM Labs has announced a $70 million expansion to its Series B funding round, bringing the total raised to $130 million, announced the company on Nov. 9. Among the world's largest private equity firms, Series B investor Thoma Bravo manages more than $122 billion in assets. The round was led by Thoma Bravo, with Goldman Sachs and previous TRM investors PayPal Ventures, Amex Ventures and Citi Ventures participating. The expansion follows TRM’s $60 Million Series B raise in December 2021 led by Tiger Global. Funds will support product development and talent acquisition to deliver accessible tools to …

A local report from South Korea claims that the country's prosecutors have obtained evidence to suggest Terraform Labs co-founder Do Kwon had onceordered an employee to manipulate the price of Terra Luna Classic (LUNC). A report by Korean Broadcasting System (KBS) on Nov. 3 quotes an official from the South Korean Prosecutors Office, who said they have obtained a "conversation history" in which "CEO Kwon specifically ordered price manipulation." The reported evidence came in the form of a "messenger conversation" between Kwon and a former Terraform Labs employee. Prosecutors did not disclose further details, noting: “I can’t reveal details, but …

Nonfungible token (NFT) marketplaces should commit to combat fraudulent NFTs, but brands are far more responsible for protecting NFT investors, according to one industry executive. Brands that issue NFTs should be taking the first step to protecting themselves and potential investors from fraud, BrandShield CEO Yoav Keren said in an interview with Cointelegraph on Oct. 12. According to Keren, it’s more straightforward for a brand to recognize NFTs that were not released by the company itself rather than marketplaces like OpenSea or Rarible. NFT marketplaces usually have fewer insights into which brands are creating NFTs when they are launching and …

The Federal Bureau of Investigation (FBI) Miami Field Office has warned that crypto ATMs are emerging as a popular method that scammers use to receive funds from defrauded victims. The information was revealed as part of an Oct. 3 public warning about “pig butchering scams” where scammers pose as long-lost friends or potential romantic partners to swipe money from victims. The scammers “fatten up” their victims by showing a supposedly genuine interest in them to win their trust, and then gradually introduce investment discussions into the relationship. In the public service announcement in cooperation with the Internet Crime Complaint Center …

The financial service provider Mastercard will launch a new crypto service related to risk management on Tuesday Oct. 3. Mastercard’s new service, Crypto Secure, is aimed to help banks find and prevent fraud on crypto merchant platforms. Crypto Secure combines the usage of artificial intelligence, blockchain data and public records of crypto transactions, along with other sources, to determine crime-related risks of crypto exchanges within the Mastercard network. Mastercard already has a similar service with fiat currency transactions available to banks. The president of cyber and intelligence business for Mastercard, Ajay Bhalla, said this development helps its partners stay compliant …

Non fungible token (NFT) artist Mike "Beeple" Winkelmann has found himself the target of phishing scammers yet again, warning users that the URL link to his official Discord server was “hacked” — sending unaware new members to a wallet draining Discord channel if they follow the link. In an Oct. 3 post UTC, the NFT artist called out Discord for “being garbage,” warning users not to go into the Discord and verify as it will “drain your wallet.” it appears our discord URLs were hacked to point to a fraudulent discord. DO NOT go into that discord and do not …

The Securities and Exchange Commission announced on Oct. 3 that Kim Kardashian settled an allegation that she promoted “a crypto asset security offered and sold by EthereumMax without disclosing the payment [of $250,000] she received for the promotion.” While she cooperated and closed the case with $1.26 million in penalties, the charge highlights the liability that “influencers” increasingly face as a result of an activist SEC that has failed to establish regulatory clarity. Pushing influencers to leave the United States Addressing the agency’s action against Kardashian, Jacob Robinson, a legal scholar and host of the Law and Code podcast, noted …

The California Department of Financial Protection and Innovation (DFPI) announced last month that it had issued desist and refrain orders to 11 entities for violating California securities laws. Some of the highlights included allegations that they offered unqualified securities as well as material misrepresentations and omissions to investors. These violations should remind us that while crypto is a unique and exciting industry for the public at large, it is still an area that is rife with the potential for bad players and fraud. To date, government crypto regulation has been minimal at best, with a distinct lack of action. Whether …

Brian Shroder, the president and CEO of Binance US, received a federal letter requesting the urgent disclosure of official documents that prove the exchange’s adherence to various investor-centric safety protocols. The request comes from a Subcommittee chairman under the United States House Committee on Oversight and Government Reform. In the letter addressed to Shroder, Congressman Raja Krishnamoorthi from the Subcommittee on Economic and Consumer Policy highlighted the lack of participation from crypto exchanges in helping the US government curb financial fraud and protect investors, stating: “I am concerned by the rapid growth of fraud and consumer abuse. I am also …

The saga of the defunct Turkish crypto exchange, Thodex, continues as its fugitive founder is now in custody in Albania. Local law enforcement detained Faruk Fatih Özer in an operation carried out at 05:30 AM (UTC) on Tuesday, Aug. 30, in the country’s capital city Tirana. According to a report byCointelegraph Turkey, Özer is currently held in custody. After initial questioning, the Turkish embassy in Tirana will be informed by local authorities. Both the Turkish Ministry of Internal Affairs and the Albanian government are working together on the case. Özer will be subject to legal proceedings in Albania, after which …

The saga of BitConnect, a major cryptocurrency scam scheme, is taking another twist as one of the BitConnect co-founders is now wanted by the Indian state police. Satish Kumbhani, an Indian national and the alleged founder of the crypto Ponzi scheme BitConnect, reportedly became subject to a new police investigation in India, The Indian Express reported on Wednesday. The Pune police, operating under the Indian state Maharashtra Police, launched a probe into Kumbhani after a Pune-based lawyer filed a complaint claiming that he lost about 220 Bitcoin (BTC), or $5.2 million, due to BitConnect. The complainant said his original investment …