This Week In Crypto

Dear Crypto Enthusiast,

As we wrap up another eventful week in the cryptocurrency world, here are the top stories you need to know:

1. Security Concerns Rise Amid Targeted Attacks

Cryptocurrency millionaires are increasingly becoming targets for violent crimes, including kidnappings and home invasions. Notably, influencer Amouranth and her husband experienced a harrowing home invasion where intruders demanded access to her crypto assets. The assailants fled after her husband fired at them. This trend highlights the importance of maintaining anonymity and bolstering personal security measures within the crypto community. 

2. Political Developments Impacting Crypto Regulation

Senator Elizabeth Warren and four other Democrats have expressed concerns about potential conflicts of interest regarding the oversight of World Liberty Financial, a cryptocurrency project controlled by President Trump and his family. They have urged financial regulators to clarify how they plan to regulate the company’s forthcoming stablecoin, USD1. This situation underscores the growing intersection of politics and cryptocurrency regulation. 

3. Presidential Pardons for BitMEX Co-Founders

President Donald Trump has pardoned the three co-founders of cryptocurrency exchange BitMEX—Benjamin Delo, Arthur Hayes, and Samuel Reed—as well as former employee Gregory Dwyer. These pardons were issued for their 2022 guilty pleas related to violations of the Bank Secrecy Act. This move has been met with mixed reactions within the crypto industry. 

4. Pro-Crypto Shift in SEC Leadership

Paul Atkins, President Trump’s nominee for Chair of the Securities and Exchange Commission (SEC), has signaled a pro-crypto stance during his Senate confirmation hearing. Atkins emphasized making digital assets a top priority and advocated for a rational regulatory foundation for cryptocurrencies. His confirmation could herald significant changes in the regulatory landscape for the digital asset sector. 

5. Galaxy Digital’s $200 Million Settlement

The New York Attorney General has reached a $200 million settlement with Galaxy Digital related to the collapse of the cryptocurrency LUNA and the stablecoin TerraUSD during the 2022 crypto crisis. Galaxy Digital has agreed to pay the settlement over three years without admitting or denying the allegations. 

6. Celebrity Falls Victim to Crypto Scam

Stuntman Felix Leech, known for his roles in “Star Wars” and “Game of Thrones,” lost nearly £50,000 in an elaborate cryptocurrency scam. After joining a WhatsApp trading group advertised on Instagram, Leech was initially able to make small withdrawals, making the scam appear legitimate. However, when he attempted to withdraw larger amounts, he was pressured into paying large fees under false pretenses. This incident serves as a cautionary tale about the prevalence of crypto scams and the importance of due diligence. 

7. North Korea’s Record-Breaking Crypto Theft

North Korean hackers, known as the Lazarus Group, have executed the largest cryptocurrency heist in history, stealing over $1.5 billion in Ethereum from the Bybit exchange. The FBI has implicated North Korea in this theft and urged the crypto industry to avoid dealings with the hackers to prevent further laundering of the stolen funds. Bybit has promised compensation for the loss and increased security measures. 

8. David O. Sacks Appointed as AI and Crypto Czar

President Donald Trump has named David O. Sacks as the White House AI and Crypto Czar, a newly created role aimed at building a legal framework for the cryptocurrency industry. Sacks will also lead the President’s Council of Advisors on Science and Technology, focusing on safeguarding free speech online and addressing concerns related to Big Tech bias and censorship. 

Stay informed and stay secure.

Best regards,

Wuki