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Trading Card Collector Convicted for $50M Crypto Heist
crime-and-technology4 days ago

Trading Card Collector Convicted for $50M Crypto Heist

Jonathan Spalletta, a Maryland-based cybersecurity consultant, was convicted by a New York jury of computer fraud and money laundering for stealing over $50 million from the defunct crypto platform Uranium Finance. The trial revealed that Spalletta exploited smart contract vulnerabilities in 2021 to drain liquidity pools, causing the platform to collapse. He subsequently laundered the stolen funds through complex transactions and spent millions on rare Pokémon and Magic: The Gathering cards, antique Roman coins, and a piece of fabric from the Wright brothers' airplane. Authorities seized approximately $31 million in cryptocurrency in 2025. Spalletta faces a maximum sentence of 20 years in prison, with sentencing scheduled for February 2027.

via Gizmodo|
#collectibles#crime-and-technology#cryptocurrency
Arthur Hayes warns AI data center overbuild could trigger crash, boosting crypto
technology4 days ago

Arthur Hayes warns AI data center overbuild could trigger crash, boosting crypto

Former BitMEX CEO Arthur Hayes argues that the current AI infrastructure boom is a bubble that will eventually crash, leading to a government bailout that will drive up Bitcoin prices. He predicts that by late 2027 or 2028, excess data center capacity will make computing power cheap, causing a downturn in AI companies that do not yet generate profit. Hayes believes this liquidity injection will benefit crypto assets, while also launching a new project called Flop to create a spot market for AI compute.

via CNBC|
#arthur-hayes#artificial-intelligence#bitcoin
OKX and NYSE Parent ICE File for 24/7 Tokenized U.S. Stock Trading
markets6 days ago

OKX and NYSE Parent ICE File for 24/7 Tokenized U.S. Stock Trading

OKXICE, a joint venture between crypto exchange OKX and NYSE parent Intercontinental Exchange (ICE), has notified the SEC of plans to launch a tokenized stock trading venue. The platform will offer blockchain-based shares of over 60 U.S. companies, enabling round-the-clock trading and faster settlement while preserving dividend and voting rights. The initiative relies on a new five-year SEC innovation exemption, with a 30-day objection period for listed companies.

via CoinDesk|
#cryptocurrency#intercontinental-exchange#markets
Trump to Host Third $TRUMP Memecoin Gala in Virginia
politics9 days ago

Trump to Host Third $TRUMP Memecoin Gala in Virginia

President Donald Trump is planning a third high-profile event for holders of the $TRUMP memecoin, scheduled for November 22 at his Northern Virginia golf club. The invitation, described as the 'Most Exclusive Dinner in the World,' targets the top 185 investors, with a VIP reception for the top 29. This follows a May 2025 dinner and a recent conference at Mar-a-Lago. Critics argue these events exploit the presidency for personal gain, noting that while the coin’s value has collapsed, Trump has earned over $1 billion from crypto ventures. The White House maintains that Trump’s financial interests are independently managed and that no private meet-and-greets or gifts will be accepted at the event.

via vox.com|
#cryptocurrency#donald-trump#ethics
politics11 days ago

Senate Republicans unveil 56-page crypto tax bill as House measure stalls

Sen. Steve Daines (R-Mont.) introduced a 56-page bill to overhaul digital asset taxation, featuring stablecoin exemptions and wash-sale rules. While the House passed a bipartisan version in September, the Senate measure lacks Democratic support. Senate Finance Chair Mike Crapo aims to pass legislation before year-end, but midterm elections and procedural hurdles threaten the timeline.

via politico.com|
#congress#cryptocurrency#digital-assets
Trump’s Second Term Blurs Lines Between Public Power and Private Wealth
politics14 days ago

Trump’s Second Term Blurs Lines Between Public Power and Private Wealth

Rolling Stone argues that Donald Trump’s second presidency represents a historic shift in American governance, merging public authority with private financial interests. The article details how Trump leveraged his control over tariffs, pardons, and regulatory agencies to benefit his family’s business ventures, including World Liberty Financial and various real estate projects. Key examples include a $500 million investment from the UAE in his crypto venture, which coincided with favorable U.S. chip export policies, and a $400 million White House ballroom funded by corporations seeking federal contracts. The piece asserts that this 'relational' corruption, rooted in Trump’s upbringing in New York’s political machine, has outpaced previous scandals by collapsing the distinction between the state and the president’s personal empire.

via Rolling Stone|
#cryptocurrency#donald-trump#executive-power
politics18 days ago

Crypto PAC Fairshake deploys $30M against Sherrod Brown after Clarity Act collapse

The crypto industry is escalating its political spending ahead of the 2026 midterms, with super PAC Fairshake committing at least $30 million to defeat Democratic Senator Sherrod Brown in Ohio. This move follows the unanimous Senate rejection of the Clarity Act, a key regulatory bill for digital assets. While Fairshake maintains a bipartisan stance, the heavy spending against a prominent Democrat risks alienating the party, potentially jeopardizing future legislative cooperation. The industry holds over $120 million in reserves, but internal debates continue over whether to prioritize partisan attacks or maintain bipartisan support to revive stalled legislation.

via Politico|
#2026-midterms#clarity-act#cryptocurrency
Joint Advisory: North Korean Group WaterPlum Steals $10.7M via Fake Tech Interviews
cybersecurity21 days ago

Joint Advisory: North Korean Group WaterPlum Steals $10.7M via Fake Tech Interviews

A joint advisory from US, Japanese, Australian, and German authorities reveals that the North Korean hacking group WaterPlum compromised 30,000 devices in over 100 countries between December 2025 and July 2026. The group stole $10.7 million in cryptocurrency and drained over 7,000 wallets by impersonating tech companies and using AI face-swapping during fake job interviews. The funds were transferred to North Korea to support state weapons programs.

via BleepingComputer|
#cryptocurrency#cybersecurity#labor-fraud
Bitcoin Holds Ground as CLARITY Vote Fails; XRP Leads Crypto Selloff
cryptocurrency24 days ago

Bitcoin Holds Ground as CLARITY Vote Fails; XRP Leads Crypto Selloff

Bitcoin slid to about $75,800 after the Senate failed to advance the CLARITY Act, a roughly 1.5% drop driven more by macro factors than BTC’s regulatory status. XRP sagged nearly 8% while Coinbase fell around 8–9% in the same session, indicating the regulatory setback hit crypto intermediaries more than the coin itself. Traders will look for Bitcoin to reclaim $78,189 to price out the discount, with key supports near $75k, $74k and $72k as macro pressures like rates and oil continue to weigh on risk assets.

via 24/7 Wall St.|
#bitcoin#clarity-act#coinbase
Senate blocks landmark crypto bill, sparking a Bitcoin slide amid regulatory uncertainty
business25 days ago

Senate blocks landmark crypto bill, sparking a Bitcoin slide amid regulatory uncertainty

Bitcoin fell about 4% to below $76,000 after the US Senate blocked the CLARITY Act, halting a bipartisan push for a unified crypto rulebook and leaving the industry without a federal framework for now. With a 49–50 vote, proponents’ momentum stalled, pushing regulators to advance rules on their own and delaying clearer guidelines until next year amid looming midterms, while most major tokens also dipped.

via Euronews.com|
#bitcoin#business#clarity-act