Federal prosecutors are urging a judge to impose the maximum 12-year prison sentence on Terra founder Do Kwon for his role in the $40 billion collapse of the UST and LUNA cryptocurrencies. The Department of Justice argues that a lighter sentence would create unfair disparities compared to the 25-year term given to FTX’s Sam Bankman-Fried. Kwon’s sentencing is scheduled for December 11 in Manhattan.
about DOJ Seeks 12-Year Prison Sentence for Terra Founder Do KwonCelsius
0 in Finance and 0 in Crypto last weekStrategy’s Bitcoin Lending Pivot Risks Fueling Short Sellers
Strategy, the world’s largest corporate Bitcoin holder, is exploring a risky pivot into crypto lending to generate yield. This move could inadvertently supply the very hedge funds looking to short Bitcoin, undermining its own $55 billion reserve. The shift marks a fundamental departure from its decade-long ‘digital vault’ thesis and introduces significant counterparty and market risks as the company scrambles to defend its valuation premium against the commoditizing force of spot Bitcoin ETFs.
about Strategy's Bitcoin Lending Pivot Risks Fueling Short SellersSEC Plans Crypto Token Taxonomy in Regulatory Overhaul
The U.S. Securities and Exchange Commission is preparing a landmark regulatory framework for digital assets through its new ‘Project Crypto’ initiative, signaling a potential turning point in how cryptocurrencies are classified and regulated. SEC Chair Paul Atkins announced plans to introduce a formal token taxonomy that will clarify how digital assets are treated under U.S. securities law, while maintaining aggressive enforcement against fraudulent activities.
about SEC Plans Crypto Token Taxonomy in Regulatory OverhaulInstitutional Crypto Adoption Enters Mature Phase
As institutional interest in cryptocurrencies surges, the market is transitioning from speculative frenzy to strategic integration. Bybit’s Business-to-business Unit head Yoyee Wang discusses how traditional financial players are returning to crypto with renewed focus on trust and transparency. This evolution marks a significant maturation phase for digital assets, with institutions including hedge funds, asset managers, and banks re-evaluating their approach following the market failures of FTX, Celsius, and Luna.
about Institutional Crypto Adoption Enters Mature PhaseZipmex Rescue Falters as Investor Misses $1.25M Payment
Troubled cryptocurrency exchange Zipmex faces renewed crisis as its $100 million rescue deal falters. An investor missed a critical $1.25 million payment deadline, jeopardizing the venture capital acquisition that was meant to save the struggling platform. The exchange now warns employees it cannot pay full March salaries amid escalating financial pressures.
about Zipmex Rescue Falters as Investor Misses $1.25M PaymentTether Pays $299.5M in Celsius Settlement, Testing Stablecoin Liability
Tether has agreed to a $299.5 million settlement with Celsius Network’s bankruptcy estate, potentially setting a precedent for stablecoin issuer liability. The resolution addresses claims stemming from the crypto lender’s dramatic 2022 collapse and collateral disputes. This landmark settlement could reshape how stablecoin providers navigate future crypto bankruptcies.
about Tether Pays $299.5M in Celsius Settlement, Testing Stablecoin LiabilityTether Settles $300M Celsius Lawsuit in Bankruptcy Case
Tether has reached a major settlement in the Celsius bankruptcy case, agreeing to pay approximately $300 million to the crypto lender’s bankruptcy estate. The resolution comes after Celsius had initially sought over $4.4 billion in damages from the stablecoin issuer. This settlement represents a significant recovery for Celsius creditors amid the ongoing bankruptcy proceedings.
about Tether Settles $300M Celsius Lawsuit in Bankruptcy CaseEx-Celsius CEO Mashinsky Reports to Prison Friday
Alex Mashinsky, the former CEO of bankrupt crypto lender Celsius, will report to federal prison on Friday after pleading guilty to two felony counts related to false statements about the company’s Earn Program. The court has recommended he serve his sentence at the minimum-security Federal Prison Camp in Otisville, New York, located approximately 75 miles from New York City. Mashinsky is required to surrender to authorities by 2:00 pm ET on Friday, following documents filed after his sentencing hearing in the Southern District of New York. This development underscores the legal consequences facing executives in the crypto industry following high-profile failures and alleged misconduct.
about Ex-Celsius CEO Mashinsky Reports to Prison FridayCFTC’s Johnson Warns Prediction Markets Lack Guardrails
CFTC Commissioner Kristin Johnson used her farewell address to highlight critical regulatory gaps in prediction markets and crypto platforms, warning they operate with ‘too few guardrails’ while attracting massive retail investment. Her speech coincided with the CFTC’s approval of Polymarket’s U.S. return through its acquisition of regulated exchange QCX. Johnson criticized firms that ‘rent or buy’ licenses to quickly pivot to prediction markets after regulatory approval, drawing parallels to 2022 crypto failures like FTX and Celsius. She framed consumer protection and market stability as essential pillars, urging tighter controls before prediction markets expand with leverage and margin trading. The commissioner also expressed concerns about the Trump administration’s deregulation agenda, warning that upcoming regulatory decisions will shape the global economy for generations.
about CFTC's Johnson Warns Prediction Markets Lack GuardrailsWall Street Closing Bell Analysis & Expert Market Insights
Bloomberg Television’s closing bell coverage brings together influential market experts including CrossMark Global Investment’s Victoria Fernandez, State Street Global Advisor’s Simona Mocuta, and Kansas City Fed’s Esther George. The segment provides timely analysis of stock market performance, economic indicators, and Federal Reserve policy perspectives. With additional insights from corporate leaders like Celsius’ John Fieldly and analysts from Deutsche Bank and Bianco Research, viewers gain a comprehensive view of factors driving end-of-day trading and broader financial trends.
about Wall Street Closing Bell Analysis & Expert Market InsightsCourt Overturns First NFT Insider Trading Conviction
The 2nd U.S. Circuit Court of Appeals overturned the conviction of Nathaniel Chastain, OpenSea’s ex-product manager, in a landmark NFT insider trading case. Chastain was accused of front-running NFTs by purchasing tokens before they were featured on OpenSea’s homepage and selling them for profit. Prosecutors had charged him with wire fraud and money laundering in 2022, marking the first such case in the digital asset sector. However, the appeals court ruled that jury instructions were flawed, potentially allowing conviction for unethical behavior rather than criminal fraud. The decision leaves the DOJ’s next steps unclear and could influence future crypto-related prosecutions.
about Court Overturns First NFT Insider Trading ConvictionTether Mints $20B USDT, Hits $127B in US Treasury Holdings
Tether’s Q2 2025 attestation report shows a record $20 billion in new USDT issuance, bringing total circulation to $157 billion. The company holds $127 billion in US Treasuries, making it one of the largest non-sovereign holders of US debt. Tether reported $4.9 billion in Q2 profits, driven by operational income and gains from Bitcoin and gold. The firm has invested $4 billion in US infrastructure projects, including ventures like XXI Capital and Rumble. Despite its financial strength, Tether faces unresolved legal cases in New York related to the 2017-18 Bitcoin crash and Celsius’ bankruptcy.
about Tether Mints $20B USDT, Hits $127B in US Treasury Holdings