Author: NBTC

A crypto influencer has been sentenced to just over a year in prison for what US prosecutors called a large-scale cryptojacking operation that defrauded two major cloud computing providers. The Department of Justice (DOJ) said on Friday that a Brooklyn federal court sentenced Charles O. Parks III, who also went by “CP3O,” to one year and one day in prison for the scheme that defrauded the computing providers of more than $3.5 million in resources. Parks used fake corporate identities such as “MultiMillionaire LLC” and “CP3O LLC” to trick two unnamed cloud providers into granting him elevated computing privileges, which…

The non-fungible token (NFT) market lost more than $1.2 billion in value in less than a week as Ether’s rally slowed, according to sector data. On Monday, NFT Price Floor data showed that the total valuations of NFT collections dropped to $8.1 billion, a 12% decline from last Wednesday’s NFT market cap of $9.3 billion, which had surged 40% since July. NFTs wiping out $1.2 billion in valuation in less than a week coincides with a 9% drop in Ether (ETH) prices. At the time of writing, Cointelegraph data showed ETH traded at $4,260, dropping from a high of about…

South Korea’s cryptocurrency market is undergoing a pivotal shift in 2025, moving from a retail-driven boom toward a more institutionalized and regulated framework. Four policy pillars define this transformation. First, the government plans phased corporate participation. Second, regulators design frameworks for spot Bitcoin ETFs and won-pegged stablecoins. Third, authorities enforce strict measures against unregistered operators and KYC breaches. Fourth, the central bank pauses CBDC development. Instead, it favors bank-led stablecoin pilots. National Digital Asset Agenda and Legislative Challenges BeInCrypto previously reported key policy developments under President Lee Jae-myung. The Presidential Committee on Policy Planning designated “building a digital asset ecosystem”…

Ether’s (ETH) recent rally to $4,780 has delivered a wealth of profits to several high-profile hackers, who have capitalized on the surge by offloading their ill-gotten gains. In three separate case, on-chain data, revealed by X account EmberCN, shows hackers strategically liquidated their ETH holdings for tens of millions in profit. The Radiant Capital exploiter, who the protocol alleges is a North Korean entity, drained around $53 million in assets from the DeFi protocol last October. They converted much of their haul into 21,957 ETH at roughly $2,414 per coin, only to sell 9,631 ETH for $44 million worth of…

ALT5 Sigma Corporation, a Nasdaq-listed fintech that operates crypto trading and payment platforms, plans to raise about $1.5 billion through a stock offering and a WLFI token-funded private placement. The move would place a large portion of World Liberty Financial’s WLFI tokens on ALT5’s balance sheet and bring several of the stablecoin issuer’s executives, including Eric Trump, into ALT5’s leadership. The fundraising structure involves two components priced at $7.50 per share: a registered direct offering and a concurrent private placement funded with WLFI tokens. Combined, the transactions cover up to 200 million shares and are expected to close on or…

Tax officials in Jeju City, the capital of the South Korean island province of Jeju, have reportedly started the process of freezing and seizing the crypto of those it believes to be dodging tax requirements. The move is part of a broader operation that saw authorities investigate 2,962 individuals who are in arrears for a combined total of 19.7 billion won ($14.2 million), to confirm if they had crypto holdings which could be seized to settle the outstanding balance owed, according to a report on Saturday by local media outlet Newsis. During the investigation, tax officials combed through data from…

This is a segment from the Lightspeed newsletter. To read full editions, subscribe. We learned this week that Stripe and Circle are planning to launch their own L1 chains. Ethereum community members were quick to question why corporations shouldn’t launch L2s instead. Ethan Buchman has a simple explanation: Vertical integration is profitable. Christian Catalini of Lightspark echoes this view in Forbes: “… stablecoin issuers have strong incentives either to commoditize the rails — by issuing on multiple networks and positioning themselves at the center of interoperability across them — or to nudge most activity to a network they control. Either…

U.S. spot Ethereum ETFs have outpaced Bitcoin funds for a fifth straight trading day, a move market observers are tying to aggressive corporate accumulation purportedly draining exchange and OTC supply, among other macro factors. Ethereum funds took in $640 million to cap Thursday’s trading session, led by BlackRock’s ETHA ($520 million) and Fidelity’s FETH ($57 million), after nearly $730 million on August 13, $523 million on August 12 and a record $1 billion tacked on August 11, data from Farside Investors shows. Over the past five days, Ethereum ETF inflows have totaled $3.37 billion, against inflows of $966 million for…

Crypto exchange Bullish has raised the size of its initial public offering to $990 million from $629 million, as the company looks to take advantage of a hot market for crypto firms. CoinDesk is a subsidiary of Bullish. According to a filing with the Securities and Exchange Commission on Monday, Bullish is aiming to sell 30 million shares at a price of $32 to $33 each, or $990 million and a valuation of $4.8 billion at the top of the range. In a previous filing on Aug. 4, the company had planned to market 20.3 million shares at $28 to…

China’s local legislature has formally declined to create local rules for disposing of seized cryptocurrency. Instead, it called for national-level regulations from the Beijing authorities. This reflects an inevitable collateral consequence of China’s total crypto ban. Henan Province Says Local Legislation Unsuitable The Congress of Henan Province, a central Chinese province south of Beijing with nearly 100 million residents, released a report reviewing its “Draft Regulations on the Management of Assets Involved in Cases.” The province’s legal affairs committee acknowledged that virtual currencies have property attributes and constitute case-related assets, a consensus already established in judicial practice. However, they noted…