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At a glance Under a plea deal, FTX co-founder Gary Wang told the jury he was a participant in financial crimes at the direction of Bankman-Fried, and detailed some of those crimes. Witness testimony established for the jury that Bankman-Fried knew of FTX’s financial woes while lying about them to the public and investors.  Judge Lewis Kaplan excoriated Mark Cohen’s team for time-wasting and repetitive questioning, which seemed to accomplish little. The defense’s main goal seems to be to discredit the prosecution’s witnesses, but it’s doing that poorly. During the defense’s cross-examination, Barbara Fried appeared distressed, grinding her balled fists into her eyes. The rough state of the defense may be obvious to even Bankman-Fried’s closest allies. Gary Wang, co-founder of FTX and Alameda Research, took the stand against his former b US iness partner Sam Bankman-Fried on Thursday, October 5 — the first full day of witness testimony in the criminal trial of the fallen crypto

A 24-year-old man pleaded guilty on Monday to taking part in a scam that saw a Las Vegas casino employee tricked into handing over more than $1.1 million via a bitcoin ATM and a number of in-person transactions. As reported by 3News, the heist happened on June 17, when a cage supervisor at the Circa Las Vegas Casino received a call from somebody claiming to be the casino’s owner. Cage supervisors deal with financial transactions between the casino and its customers, typically from behind reinforced bars. The caller asked that an “emergency payment to the fire department for fire safety devices” was needed, adding that if the supervisor failed to deliver, casino operations would shut down resulting in millions of dollars in lost revenue. The supervisor, who believed they were texting their manager, was then told to deposit $320,000 into a bitcoin ATM near a gas station . She agreed and when she hit the maximum deposit limit, she traveled to meet a man posing as Circa’s attorney at

A New York-based drug dealer who US ed crypto to launder millions of dollars from an illegal steroid distribution operation has received an eight-year prison sentence , the Department of J US tice (DoJ) has announced.   Thirty-two-year-old James Charles Rivera, known on the dark web as “JuicePal,” distributed illicit steroids in almost every state in the US. He also sold to customers from the UK, Canada, Germany, Australia, and countries across the European Union. Rivera, who was based abroad, ran his operation between 2018 and 2021 alongside several co-conspirators who helped him to produce the Drugs , ship them to c US tomers, and move the proceeds. He reportedly made millions . Drug gang used Coinbase to launder crypto from prison Read more: Centralized crypto exchanges used to buy $32M in fentanyl precursors: Elliptic As described by Chad Plantz, a special agent in charge of homeland security investigations in San Diego, “The egregious criminal conspiracy attempted to util