Good morning! We have listed the latest news for you. Start the day with a bitcoin breakfast.

Coinbase, the well-known cryptocurrency exchange, and its CEO Brian Armstrong are facing a new class action lawsuit. This lawsuit alleges that investors were deceived into selling what are effectively securities, and that Coinbase’s business model is illegal. This includes Solana, the popular hype crypto.

Specifically, the indictment focuses on the sale of tokens such as Solana (SOL), Polygon (MATIC), Near Protocol (NEAR), Decentraland (MANA), Algorand (ALGO), Uniswap (UNI), Tezos (XTZ), and Stellar Lumens (XLM), which are labeled as securities.

Alexander Vinnik, co-founder of the cryptocurrency exchange BTC-e, has pleaded guilty to money laundering, according to a recent statement from the US Department of Justice (DOJ). This admission follows an extensive investigation that revealed that from 2011 to 2017, BTC-e processed more than $9 billion in transactions for a group of users worldwide that exceeded one million, with many users from the United States.

BTC-e and money laundering
The DOJ emphasized that BTC-e acted as a platform for laundering proceeds from various criminal activities, including computer hacking, ransomware attacks and drug trafficking. The platform lacked key regulatory compliance, such as registration with the Financial Crimes Enforcement Network (FinCEN) and implementation of Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols.

Last week the crypto market saw a significant recovery. However, there are some important events scheduled for this week. Amid mixed economic data and the Federal Reserve’s decision to leave interest rates unchanged, market analysts will be listening closely to speeches from Fed officials and other relevant market developments.

Key events to keep an eye on this week
The crypto market is gearing up for potentially more swings with the upcoming speeches from several Fed officials.


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