The United States and South Korea have both requested the extradition of Do Kwon from Montenegro. The country's Justice Minster has clarified that court proceedings in Montenegro will have priority over extradition.
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The share price of Silvergate Capital (SI) slumped more than 11% today as the crypto bank discussed ways to avert a collapse, with officials from the U.S. FDIC.
Paxos CEO Charles Cascarilla told his employees that the firm was in constructive discussions with the U.S SEC over its Wells notice and the security status of BUSD.
The United States SEC has sued Do Kwon and Terraform Labs for orchestrating a multi-billion dollar crypto asset securities fraud. Multiple crypto assets involved in the case were described as unregistered securities by the regulator.
The U.S Department of Justice has launched a fraud probe into Silvergate's dealings with FTX and Alameda Research. News of the probe prompted the company's stock to tank 22%.
U.S Senator Ted Cruz has introduced a bill in the Senate that seeks to enable crypto payments at restaurants and vending machines in the Capitol building.
Sam Bankman-Fried will be extradited to the United States to stand trial for defrauding FTX customers and investors.
Summary: Three major publications reported that Bankman-Fried won’t contest his extradition to the U.S. Sources said the FTX founder will...