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Eighteen leading venture capital (VC) investment firms, including Temasek, Sequoia Capital, Sino Global and Softbank, have been named as defendants in a class-action lawsuit filed in the United States District Court for the Northern District of California for their links to the now-bankrupt crypto exchange FTX.The lawsuit, filed on Aug.7, alleged
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"And as part of the originally charged money laundering scheme, the defendant also concealed the source of his fraudulent proceeds through political straw donations," the DOJ said. "As the Government will outline in its forthcoming motions in limine, the evidence of the defendant’s campaign finance conduct is admissible at trial
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Licensing consultants can charge up to $1 million to advise companies on the application, a person familiar with the matter said. Exchanges are required to maintain a paid-up share capital of 5 million Hong Kong dollars ($640,000), and liquid capital of at least $380,000. They must hold liquid assets equivalent
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But federal prosecutors fear an indictment could trigger a run on deposits at Binance, causing the exchange to crumble like FTX did last fall. They are weighing alternatives such as “fines and deferred or non-prosecution agreements,” sources told the publication. Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Stablecoins, such as USDC, could face a complex situation if a new national defense bill approved by the US Senate becomes law. The 2024 National Defense Authorization Act could introduce new KYC and anti-money laundering requirements
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An open letter from GitHub, Hugging Face, Creative Commons and other tech firms are calling the European Union to ease upcoming rules for open-source artificial intelligence models.The letter urges policymakers to review some of the provisions of the EU's Artificial Intelligence Act, claiming that regulating upstream open-source projects as if
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"The Government has been informed that The Bahamas notified the United States earlier today that The Bahamas did not intend to extradite the defendant on the campaign contributions count," the DOJ letter said. "Accordingly, in keeping with its treaty obligations to The Bahamas, the Government does not intend to proceed
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Following its recent launch, Worldcoin (WLD), a crypto project co-founded by OpenAI’s CEO Sam Altman, could be facing inquiries from the UK’s data regulator. The Information Commissioner’s Office (ICO), a body that focuses on data protection in
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A recent proposal from Parrot Protocol's team, a Solana-based liquidity network, has sparked controversy among its community members. The proposal, up for vote until July 27, calls for the redemption of its PRT tokens for liquid treasury value, and the transition to a no-token protocol.Based on the proposal, the PRT
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Canadian police issued a public warning on July 19 regarding a concerning trend of high-value crypto investors falling victim to home robberies. The Royal Canadian Mounted Police (RCMP) in Richmond, located south of Vancouver, reported multiple
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