The U.S. Treasury Department’s OFAC has blacklisted Iranian national Behrouz Parasad and 49 Bitcoin and Monero addresses linked to him for allegedly running the Nemesis darknet marketplace, which facilitated nearly $30 million in drug sales from 2021 to 2024. The sanctions block all U.S. property and interests of Parasad and deny him specific financial services. This action follows the marketplace’s shutdown after an international law enforcement operation.
about US Treasury Sanctions Bitcoin and Monero Addresses Linked to Darknet Marketplace OperatorCS Disco Inc. Common Stock
0 in Finance and 0 in Crypto last weekFINMA Investigates Wendelspiess Partners Over Disastrous Investment Strategies
FINMA has initiated enforcement proceedings against Zurich-based Wendelspiess Partners following a report highlighting significant losses suffered by clients, including an heiress who lost nearly a million due to a flawed investment strategy. The WP Multi-Strategy Fund, which required a minimum investment of CHF 100,000, misled investors into believing their funds were securely diversified, while in reality, money was funneled into dubious projects. Allegations suggest a network of individuals behind the scheme, with external compliance checks failing to detect potential fraud.
about FINMA Investigates Wendelspiess Partners Over Disastrous Investment StrategiesNew Administration Signals Shift Towards Collaborative Crypto Regulation
The new administration is reshaping crypto regulation, highlighted by recent pro-crypto appointments and the establishment of a “President’s Working Group on Digital Asset Markets.” This collaborative approach aims to foster a constructive regulatory framework while ensuring essential investor protections, signaling a significant shift in the relationship between crypto and US regulators. For more information, visit [SEC](https://www.sec.gov) and [Bloomberg](https://www.bloomberg.com).
about New Administration Signals Shift Towards Collaborative Crypto RegulationCriticism Surrounds Proposal to Reverse Ethereum
The proposal to “reverse” Ethereum has faced significant criticism, highlighting the challenges and opposition to such a move. Additionally, investors in Perpetua Resources Corp. (NASDAQ: PPTA) who have experienced losses are encouraged to reach out to The Rosen Law Firm to understand their rights.
about Criticism Surrounds Proposal to Reverse EthereumScammers Exploit Crown Prince Identity to Launch Fake Saudi Memecoin
Scammers have launched a fraudulent cryptocurrency called the Saudi Arabia memecoin (KSA), impersonating Crown Prince Mohammed bin Salman through a hacked social media account. Despite red flags, including a lack of official support and vague project details, the token attracted minimal investment, totaling only $5,217 in market capitalization. This incident follows a pattern of political-themed memecoins facing significant losses, highlighting the risks associated with hype-driven tokens in the crypto market.
about Scammers Exploit Crown Prince Identity to Launch Fake Saudi MemecoinDebate Over XRP Classification Sparks Concerns About Market Stability
Investor Jason Calacanis has labeled XRP a “centrally controlled security,” warning that treating it like Bitcoin could destabilize markets and harm retail investors. John Deaton countered this view, arguing that XRP does not meet the legal definition of an investment contract under the Howey Test. The ongoing regulatory uncertainty, highlighted by a recent court ruling and the SEC’s appeal, continues to shape the future of XRP, with potential implications for its classification and inclusion in a U.S. national crypto reserve.
about Debate Over XRP Classification Sparks Concerns About Market StabilitySaudi Crown Prince Impersonators Launch Fraudulent Memecoin to Scam Investors
Scammers impersonating Saudi Crown Prince Mohammed bin Salman launched a fraudulent cryptocurrency, the “Official” Saudi Arabia memecoin (KSA), on February 17. The scheme raised red flags due to the lack of official communication and details about the token’s utility. Shortly after, the original account was confirmed to have been hacked, with the Saudi Law Conference disavowing the content posted by the impersonators.
about Saudi Crown Prince Impersonators Launch Fraudulent Memecoin to Scam InvestorsArgentine President Javier Milei Faces Fraud Charges Over Cryptocurrency Promotion
Argentine lawyers have filed fraud charges against President Javier Milei for promoting the cryptocurrency Libra, which saw a market cap surge to $4.56 billion before plummeting over 94%. Accusations include fraud and violations of the Public Ethics Law, with a class-action suit being prepared for affected investors. Milei has requested an investigation into potential misconduct among government members, claiming he was unaware of the project’s details when he endorsed it.
about Argentine President Javier Milei Faces Fraud Charges Over Cryptocurrency PromotionAlexander Vinnik Released in US-Russia Prisoner Swap After Money Laundering Conviction
Russian national Alexander Vinnik, convicted for running the BTC-e crypto exchange linked to a multi-billion-dollar money-laundering operation, has been released in a U.S.-Russia prisoner swap. In exchange, the U.S. freed American teacher Marc Fogel, who was detained on drug charges.Vinnik, who operated BTC-e from 2011 to 2017, faced multiple legal battles before being extradited to the U.S. He pleaded guilty to conspiracy to commit money laundering, with prosecutors alleging he facilitated over $120 million in losses. As part of the deal, he will forfeit tens of millions in assets.
about Alexander Vinnik Released in US-Russia Prisoner Swap After Money Laundering ConvictionPumpFun Co-Founder Denies Token Launch Amid Legal Challenges
PumpFun co-founder Alon Cohen has refuted rumors of an impending token launch, labeling them as incorrect. Despite claims from crypto journalist Colin Wu, who cited insider sources and alleged documentation, Cohen emphasized the platform’s focus on enhancements rather than token plans. The speculation arises amid legal challenges, including a class-action lawsuit alleging the sale of unregistered securities and a cease-and-desist letter regarding intellectual property misuse. Cohen has not addressed these legal issues directly but insists that Pump.fun operates within legal parameters.
about PumpFun Co-Founder Denies Token Launch Amid Legal ChallengesPumpFun Co-Founder Denies Token Launch Amid Legal Challenges and Speculation
PumpFun co-founder Alon Cohen has dismissed rumors of a token launch using a Dutch auction model in collaboration with centralized exchanges, urging the community to rely on official statements. The platform is currently facing legal challenges over allegations of facilitating unregistered securities trading through speculative meme tokens, raising doubts about its legitimacy and future. Despite the potential benefits of the Dutch auction model, skepticism remains regarding its effectiveness for the broader community, given past token distribution practices.
about PumpFun Co-Founder Denies Token Launch Amid Legal Challenges and SpeculationBeijing Official Sentenced for Bitcoin Money Laundering and Bribery Crimes
Hao Gang, a former deputy director of the Beijing Financial Bureau, has been sentenced to 11 years in prison for his role in a Bitcoin money laundering scheme. He received bribes worth tens of millions of yuan for lifting border controls to assist a major crypto mining executive. The court also imposed a fine of 1.3 million yuan and ordered the confiscation of crime proceeds.
about Beijing Official Sentenced for Bitcoin Money Laundering and Bribery Crimes