Expedited discovery allows the exchange to seek account identities, balances and transaction histories from platforms with US operations. United States court records unsealed on Thursday show that a federal judge backed crypto exchange Bybit’s effort to trace assets stolen in the $1.5 billion North Korea-linked hack by granting the company expedited discovery. According to the records, Bybit filed the lawsuit under seal on June 18 against North Korea, its Reconnaissance General Bureau, the Lazarus Group and 20 unidentified defendants. The court granted Bybit’s request for expedited discovery on June 19. The discovery authority gives Bybit a practical route to identify alleged intermediaries and pursue a small portion of stolen assets that remains traceable, rather than relying solely on a judgment against North Korea. Read more
The president’s company will unwind an agreement with Crypto.com to create a multibillion-dollar CRO treasury and reportedly not integrate prediction markets onto Truth Social. US President Donald Trump’s company, the Trump Media and Technology Group (TMTG), is pulling back from a deal with the Crypto.com exchange to instead focus on a merger with energy company TAE. First reported by Axios on Friday, TMTG interim CEO Kevin McGurn said that the company would pull back from two Crypto.com deals aimed at creating a $6.4 billion CRO treasury and integrating prediction markets into its Truth Social platform. The Trump media company, crypto exchange, and special purpose acquisition company Yorkville Acquisition Corp said “prevailing market conditions and shifting business and stakeholder priorities” led to the dissolution of the treasury deal. TMTG announced the CRO treasury deal in September 2025, in which President Trump’s company would purchase billions of dollars worth of Crypto.com’s CRO tokens, potentially a...
The US government sanctioned an individual and two crypto exchanges it said facilitated money laundering for a combined $5 million in digital assets linked to Iran. The US Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions against two digital asset exchanges it said that “the Iranian regime relies on to launder billions of dollars” amid military actions between the two countries. In a Friday notice, OFAC said it had taken measures against crypto exchanges Shelbit and Aban Tether for “facilitating illicit cryptocurrency activity and sanctions evasion,” using the proceeds to support Iran’s Islamic Revolutionary Guard Corps (IRGC). The government agency also sanctioned Iranian national Siavash Kayvanpour and crypto wallets and companies tied to him, one of which operates Shelbit. “We will continue to increase the economic pressure,” said Treasury Secretary Scott Bessent. “Whether in dollars, rials, or crypto, Treasury will hunt down and dismantle the illicit financial networks tha...