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US President Joe Biden is scheduled to leave office on January 20, and he still has time to issue pardons and commutations for individuals convicted of federal crimes. As of January 9, cryptocurrency betting platform Polymarket is offering users 4% odds that President Biden pardons former FTX CEO Sam "SBF" Bankman-Fried, and 2% that he pardons Silk Road founder Ross Ulbricht. As of the time of this article's publication, users have placed more than $5 million in bets on SBF's odds and...
On January 8th, Frank Richard Ahlgren III, the first bitcoin investor in the United States to be convicted of crypto-asset trading tax crimes, has been sentenced to two years in prison and ordered to hand over the keys to access his cryptocurrency assets. Court documents show that Ahlgren is accused of hiding at least 1,287 bitcoins, which are currently worth more than $124 million, through a coin mixing service. He previously pleaded guilty to underreporting capital gains taxes on $3.70 million...
A year after FTX founder SBF was convicted of fraud, U.S. prosecutors filed a lawsuit in a New York court on Tuesday seeking to confiscate SBF's cryptocurrency. Its cryptocurrency, held in an account containing Solana and Ripple, was valued at $8.60 million as of December 12, 2023. It has appreciated to $18.50 million in the past 11 months, mainly due to the sharp increase in the price of Solana.
The UK's Chester Cybercrime Unit has successfully'confiscated '£15,000 worth of Monero from a convicted drug dealer. This is the first time the UK has converted the Monero cryptocurrency into cash, showing the scale of the crackdown on criminal activity in the privacy currency. The drug dealer, who was sentenced to 28 months for selling deadly weight loss drugs on the dark web, has now been forced to hand over £23,000 in assets or face an additional eight months in prison.
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