Connect with us

Business

US authorities oppose ex-FTX exec’s motion to void plea deal

Published

on

An executive from FTX is pushing to nullify a previously agreed-upon plea deal, sparking a legal confrontation with federal prosecutors.

The executive, whose identity has not been publicly disclosed, filed a motion to void the plea agreement that was reached earlier this year in connection with allegations of financial misconduct at the cryptocurrency exchange. The plea deal had originally been negotiated as part of a broader investigation into FTX’s financial practices.

In the motion, the executive argues that the terms of the plea deal were not fully understood at the time of the agreement and that new evidence has emerged that could impact the case. The individual claims that the agreement was entered under duress and seeks to renegotiate the terms or have the deal overturned entirely.

Prosecutors have strongly opposed the motion, arguing that the plea deal was negotiated in good faith and that the executive’s claims do not merit a reversal. They contend that the deal was the result of thorough discussions and legal advice, and that overturning it would undermine the judicial process.

The legal tussle has added another layer of complexity to the ongoing investigation into FTX, which has been under scrutiny for its alleged involvement in various financial irregularities. The court is expected to review the motion and the opposition before making a ruling on whether the plea deal will be upheld or voided.

The outcome of this legal battle could have significant implications for the executive involved, as well as for FTX and its broader regulatory challenges. The case continues to attract attention from both legal analysts and industry observers, who are watching closely for further developments.

Business

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

Published

on

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.

Continue Reading

Business

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

Published

on

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.

Continue Reading

Business

Hackers are selling counterfeit phones with crypto-stealing malware

Published

on

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.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk