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SEC files lawsuit against FTX-linked bank, alleging fraud

The U.S. Securities and Exchange Commission (SEC) has initiated legal action against Silvergate Bank and FTX, alleging securities fraud.

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The U.S. Securities and Exchange Commission (SEC) has initiated legal action against Silvergate Bank and FTX, alleging securities fraud.

The lawsuit, filed by the SEC, accuses Silvergate Bank and FTX of engaging in fraudulent activities related to the issuance and trading of unregistered securities. The allegations focus on violations of securities laws, which require proper registration and disclosure for securities offered to investors.

Silvergate Bank, a prominent financial institution within the cryptocurrency industry, and FTX, a major cryptocurrency exchange, are facing scrutiny over their alleged roles in facilitating unregistered securities transactions. The SEC’s legal action underscores regulatory efforts to enforce compliance and protect investors from deceptive practices in the evolving digital asset market.

The lawsuit highlights the SEC’s commitment to maintaining integrity and transparency in financial markets, particularly concerning digital assets and cryptocurrency-related investments. As the case progresses, stakeholders in the cryptocurrency and financial sectors will closely monitor developments that could impact regulatory standards and enforcement measures across the industry.

The legal proceedings against Silvergate Bank and FTX reflect ongoing regulatory challenges and complexities surrounding the regulation of digital assets, underscoring the need for compliance with securities laws to ensure investor protection and market stability.

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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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