The U.S. Commodity Futures Trading Commission (CFTC) has accused cryptocurrency exchange Mosaic Exchange of implementing a "fraudulent digital asset commodity scheme," including falsely reporting the amount of assets it owns and its profit record. CFTC stated that Mosaic founder Sean Michael falsely claimed that Mosaic is a cryptocurrency trading platform that manages tens of millions of dollars in assets and also provides an algorithm with a profit rate of up to 60% per month. The platform and Michael also claimed that they have "collaborative relationships" with BitMEX and Binance, which are all false statements.
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U.S. CFTC accuses Mosaic of implementing “fraudulent digital asset commodity scheme”
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The delayed Notcoin payment incident caused a major turmoil in Bybit’s management
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The Bank of Japan released the "Central Bank Digital Currency Pilot Program Progress Report"
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Former Deutsche Bank exec sentenced to 41 months in prison for cryptocurrency fraud
Former Deutsche Bank executive Rashawn Russell was sentenced to 41 months in prison on May 31st in the Eastern District Court of New York in Brooklyn, on charges of cryptocurrency fraud and attempted bank card fraud. He pleaded guilty to these charges last September. According to the US Department of Justice, Russell operated the fraudulent R3 Crypto Fund between November 2020 and August 2022, promising cryptocurrency investments and high returns, but actually using investor funds for personal consumption or to repay other investors. In addition, from September 2021 to June 2023, Russell used at least 43 identities to obtain 97 bank cards, with the intention of engaging in fraudulent transactions. In addition to imprisonment, he was also ordered to pay $1.5 million in compensation to the victims. Russell's case is just one of many cryptocurrency fraud cases in recent months. -
NYSE President: Cryptocurrency trading will be considered if regulation is clear
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Mt. Gox confirms multiple transactions today were intended to prepare repayments to creditors ahead of the October 31 deadline.
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