Top Stories This Week
Senators pressure SEC’s Gensler not to approve any more crypto ETFs
Two United States senators want Gary Gensler to pull the pin on any further crypto exchange-traded funds (ETFs), citing “enormous risks” to retail investors. In a March 11 letter, Democrat senators Jack Reed and Laphonza Butler claimed that allowing any further approvals of crypto ETFs would see investors exposed to “thinly traded” markets rife with fraud and manipulation. The senators also urged the U.S. Securities and Exchange Commission to take “several specific steps” with the already launched Bitcoin ETF products, requesting that BTC ETF brokers and advisers be subjected to further regulatory scrutiny. There are eight proposed spot Ether ETF applications awaiting approval by the SEC.
Judge rules Craig Wright is not Satoshi Nakamoto
Craig Wright is not Satoshi Nakamoto, the pseudonymous creator of the Bitcoin network, according to Judge James Mellor’s ruling in the United Kingdom on March 14. Closing arguments began in London on March 12 in the lawsuit brought by the Crypto Open Patent Alliance (COPA) lawsuit against Wright, an Australian computer scientist who claimed to be Nakamoto since 2016. Wright has been accused of massive document forgery for supporting his claim of being the pseudonymous Bitcoin founder. COPA was seeking injunctive relief to prevent Wright from further claiming to be Nakamoto.
Prosecutors want $11B judgment, 40-50 years in prison for Sam Bankman-Fried
Prosecutors are asking for a sentence of 40-50 years for the former CEO of bankrupt cryptocurrency exchange FTX and convicted fraudster Sam Bankman-Fried. He faces up to 110 years behind bars under the law. The Government’s Sentencing Memorandum recounts Bankman-Fried’s activities in detail, focusing on five points: Bankman-Fried’s scheme to make illegal political contributions, his attempt to bribe Chinese government officials, his banking misconduct, his attempts to deflect blame, and…
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