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Former FTX exec sentenced to 7.5 years in prison 

Ryan Salame, a former executive at the now-defunct cryptocurrency exchange FTX, has been sentenced following his guilty plea. Salame, who played a significant role in the operations of FTX, admitted to multiple charges related to the company’s collapse.

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Ryan Salame, a former executive at the now-defunct cryptocurrency exchange FTX, has been sentenced following his guilty plea. Salame, who played a significant role in the operations of FTX, admitted to multiple charges related to the company’s collapse.

Salame’s guilty plea comes amid ongoing investigations into FTX’s sudden downfall, which left many investors and stakeholders in financial turmoil. The charges against Salame include fraud, embezzlement, and conspiracy to commit money laundering. As part of his plea deal, Salame provided crucial information to authorities, shedding light on the internal operations and financial mismanagement within FTX.

In the courtroom, Salame expressed remorse for his actions, acknowledging the impact of his decisions on investors and the broader cryptocurrency community. “I deeply regret my involvement in activities that caused significant harm to many people,” Salame stated. “I am committed to making amends and cooperating fully with the authorities.”

The sentencing marks a significant development in the broader investigation into FTX and its associated entities. Authorities have been working to unravel the complex web of transactions and decisions that led to the exchange’s dramatic failure. Salame’s cooperation is expected to aid in the pursuit of justice and potential recovery of assets for affected investors.

The judge overseeing the case emphasized the severity of Salame’s actions but also acknowledged his cooperation with the investigation. “While the crimes committed are serious, Mr. Salame’s willingness to assist the authorities has been noted,” the judge remarked. The specifics of Salame’s sentence, including any potential prison time or financial penalties, are yet to be fully disclosed.

Salame’s sentencing is a reminder of the heightened scrutiny and regulatory challenges facing the cryptocurrency industry. It underscores the importance of transparency, accountability, and ethical conduct within the rapidly evolving digital asset landscape. As investigations continue, the FTX case serves as a cautionary tale for both crypto businesses and investors, highlighting the need for robust regulatory frameworks to protect against fraud and financial misconduct.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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