Crypto

The SEC alleges Unicoin misled over 5,000 investors in a $100 million crypto offering with false claims about asset backing and registration.

Eric Adams told a crypto conference that he wants to make New York City the “crypto capital of the globe” and will make policy recommendations in the coming weeks. New York City Mayor Eric Adams says he will create a digital advisory council to attract jobs and investment to the Big Apple and position it as the “crypto capital of the globe.” “This is not about chasing memes or trends,” Adams told the inaugural New York City Crypto Summit on May 20. “We want to use the technology of tomorrow to better serve New Yorkers today.” “We have experts right here, and they are going to help us navigate solutions that serve our city,” he added. “The age of tokenization, which includes crypto and blockchain and other fintech innovations, that age is here, and we’re going to continue to move forward with it.” Read more

Unicoin’s CEO announced last month that he’d rejected the SEC’s offer to negotiate a settlement.

The SEC alleged thousands of investors were drawn by “fictitious promises” that Uniconi's crypto assets were backed by real-world assets. The US Securities and Exchange Commission has charged crypto platform Unicoin and three of its executives, alleging they made false and misleading statements about its crypto assets that raised $100 million from investors. The SEC said on May 20 that it charged Unicoin CEO Alex Konanykhin, board member Silvina Moschini, and former investment chief Alex Dominguez with misleading investors about certificates that conveyed rights to receive Unicoin tokens and stock. Mark Cave, associate director in the SEC’s Division of Enforcement, claimed the trio “exploited thousands of investors with fictitious promises that its tokens, when issued, would be backed by real-world assets including an international portfolio of valuable real estate holdings.”  Read more

Strive said it is looking to acquire 75,000 Bitcoin from claims tied to Mt. Gox to buy the cryptocurrency at a discount. Vivek Ramaswamy’s Strive is looking to build its Bitcoin holdings by purchasing distressed Bitcoin claims at a discount, starting with claims tied to 75,000 Bitcoin at the bankrupt crypto exchange Mt. Gox. Strive said in a May 20 regulatory filing that it partnered with 117 Castell Advisory Group LLC to target claims to Bitcoin (BTC) that have received definitive legal rulings but are still awaiting distribution. The company said buying the claims would allow it to purchase Bitcoin at a discount and grow its Bitcoin per share ratio ahead of its planned reverse merger with Asset Entities — which is expected to be completed sometime mid this year. Read more

Google's SynthID Detector scans media for watermarks to expose AI-generated content as its use becomes widespread in the classroom.

Moscow’s AML agency has warned Russians that crypto exchanges and brokers operating in the country are providing police with transaction data. The post AML Agency Tells Russians: Crypto Exchanges Send Us Your Transaction Data appeared first on Cryptonews.

Ethereum (ETH) co-founder Jeffrey Wilcke transferred approximately $262 million worth of ETH to a wallet labeled as a Kraken deposit address on May 20, according to on-chain data.  The transfer of 105,736 ETH emptied nearly all of Wilcke’s holdings, leaving just 268.73 ETH in his wallet. Subsequent withdrawals from the exchange suggest that this could be Wilcke […] The post Ethereum co-founder Jeffrey Wilcke transfers $262M in ETH to Kraken, causing community speculation appeared first on CryptoSlate.

The Argentine government has dismantled the body tasked with investigating the Libra cryptocurrency launched by President Javier Milei.

The funds are part of a wave of altcoin-based investment products proposed by issuers in recent months.

Robinhood has submitted a detailed proposal to the US Securities and Exchange Commission (SEC), calling for the creation of a federal framework to regulate tokenized real-world assets (RWAs), which represent a potential $30 trillion market, Forbes reported on May 20. The 42-page filing outlines a legal infrastructure that would allow digital tokens representing traditional financial […] The post Robinhood calls on SEC to establish unified regulatory framework for tokenized RWAs appeared first on CryptoSlate.

Apex Group said it plans to fold Tokeny’s team and tech into its services as it pushes tokenized finance to the mainstream.

Nvidia CEO Jensen Huang shared a bold vision of the future this week, envisioning data centers turning into collaborative "AI factories."

Members of Congress have pressed SEC chair Paul Atkins on why the agency has paused its fraud case against Justin Sun while the crypto figure backs a Trump-linked meme coin, asking if political ties are at play. Atkins has said the inquiry remains active and promised clearer crypto rules ahead. The post SEC Chair Grilled Over Trump Meme Coin and Justin Sun’s $75M Ties – Is Crypto Regulation About to Shift? appeared first on Cryptonews.

Growing activity on SunSwap 2 and 3 is driving more volume and supporting SUN's rise on the Tron blockchain.

Bitcoin is less than 2% away from its all-time high price, hitting $107,000 on Tuesday for the first time since January.

Bancor has filed a landmark patent infringement suit against Uniswap in New York, asserting the DEX has used its patented constant-product AMM since 2018 without permission. The outcome could set a precedent for how decentralized finance protocols protect, share, and monetize core code. The post Bancor Launches Historic Patent War Against Uniswap – Could This $40B DEX Battle Redefine DeFi IP Rights? appeared first on Cryptonews.

Bitcoin’s (BTC) break above the $107,000 threshold shows that the recent rally is driven by robust buying amid a consolidation just below its all-time high, Glassnode said in a May 20 report. Despite trading around 40% higher than six weeks ago and setting a new record with the latest weekly close at $106,500, Bitcoin was […] The post Bitcoin hits $107K as market holds below ATH in bullish consolidation appeared first on CryptoSlate.

Ripple CEO Brad Garlinghouse has rebuked Sen. Cynthia Lummis for canceling a planned meeting in Washington, as Ripple has advanced a $4–5 billion bid for USDC issuer Circle. Circle remains in talks with Ripple and Coinbase, whose stake in Circle and control of USDC operations strengthen its position. The post Ripple CEO Slams Sen. Lummis After Canceled Talks – $5B Circle Bid Looms appeared first on Cryptonews.

With his reported TRUMP memecoin purchases, Tron founder Justin Sun will have spent more than $90 million on crypto ventures tied to the US president and his family. After weeks of speculation among crypto enthusiasts and news outlets, Tron founder Justin Sun has claimed he owns the wallet that purchased the largest amount of Donald Trump’s memecoin, allowing him to qualify for a dinner and reception with the US president. In a May 19 X post, Sun said he had received an invitation to attend Trump’s dinner at his golf club outside Washington, DC, as part of a reward for the top 220 memecoin holders. The Tron founder claimed he controlled the top wallet on the TRUMP token leaderboard under the username “Sun,” which held roughly $19 million worth of the memecoin at a price of $13.20. According to Sun, he plans to network at the May 22 memecoin dinner, “talk crypto,” and “discuss the future” of the industry. It’s unclear why the Tron founder chose to announce his planned presence at the event now, when the leader...