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Two arrested over ‘running illegal £1bn cryptocurrency exchange’ in London | UK News
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Two people have been arrested on suspicion of running an illegal exchange thought to have traded more than £1bn worth of cryptocurrency. The Financial Conduct Authority (FCA) searched the London offices of the suspects, aged 38 and 44, while the Metropolitan Police seized digital devices from two residential properties in the capital. More than £1bn…
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Changpeng Zhao: Former boss of world’s largest crypto exchange Binance jailed for allowing money laundering | Business News
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The former boss of the world’s largest cryptocurrency exchange has been jailed for four months for allowing money laundering. The sentence was handed down to Binance founder Changpeng Zhao, nicknamed CZ, after he pleaded guilty to breaching US anti-money laundering laws designed to prevent terrorist financing and funds going to sanctioned countries. The prison term…
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Tom Brady and Larry David among celebrities named in lawsuit against failed crypto exchange FTX | Science & Tech News
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Celebrities including NFL star Tom Brady and comedian Larry David have been named in a class-action lawsuit against cryptocurrency exchange FTX, accusing them of being culpable for promoting the failed firm. FTX, one of the world’s biggest cryptocurrency exchanges, went bankrupt last week – a staggering reversal of fortune for a firm once valued at…
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Founder of bankrupt crypto exchange FTX denies he has fled to South America | Science & Tech News
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The former chief executive of one of the world’s biggest cryptocurrency exchanges has denied he fled to South America after firm filed for bankruptcy. FTX founder Sam Bankman-Fried was asked by Reuters about Twitter speculation he had flown to Argentina and responded in a text message: “Nope.” The 30-year-old, who has been removed as chief…
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Major crypto exchange FTX begins bankruptcy proceedings in US | Science & Tech News
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FTX, one of the world’s biggest cryptocurrency exchanges, is commencing bankruptcy proceedings in the US. Sam Bankman-Fried, its 30-year-old chief executive who once graced the cover of Forbes, is also resigning, days after its bigger rival Binance walked away from a proposed acquisition. His replacement, John J Ray III, said: “The FTX Group has valuable…