Good morning! We have listed the latest news for you. Start the day with a bitcoin breakfast.
US prosecutors have recommended a 36-month prison sentence for Binance founder Changpeng Zhao (CZ) for allegedly violating anti-money laundering regulations.
Prosecutors are pushing for a long sentence
US prosecutors have recommended a 36-month prison sentence for Binance founder Changpeng Zhao for allegedly violating anti-money laundering rules.
The court documents, filed in the U.S. District Court for the Western District of Washington, accuse Zhao of deliberately targeting U.S. users despite knowing it violated U.S. regulations.
Keonne Rodriguez and William Lonergan Hill, the founders and executives of Samourai Wallet, have been arrested. They are accused of money laundering and illegally transferring money through their cryptocurrency mixing service. This was announced by the United States Attorney for the Southern District of New York, Damian Williams.
Samourai Wallet, a service known for anonymizing Bitcoin transactions, reportedly conducted more than $2 billion in illicit transactions and laundered more than $100 million in criminal proceeds. These criminal activities include revenue from illegal dark web markets such as Silk Road and Hydra Market, and various scams.
The potential return of more than $9 billion in bitcoin from the Mt. Gox era creates a lot of uncertainty. According to the analysts at K33 Research, this enormous pool of capital could “shock” the market and cause negative pressure on the price.
Will the creditors get their bitcoin next month?
For those who don’t know, Mt. Gox was a bitcoin exchange platform that was huge in its early years. Unfortunately, this was also the first major bitcoin exchange to fail in a spectacular manner, after which a large part of the users’ bitcoin was lost.
Eventually, Mt. Gox closed its doors in 2014, meaning former users of the platform had to wait a long time for their money. For many people it won’t turn out that bad.
Source: https://bitcoinmagazine.nl/nieuws/oprichter-van-binance-hoort-gevangenisstraf
