SBF Moved to New Prison + SEC Drops Investigation Into Multiple Firms

SEC Drops Investigation Into Crypto.com, Marking End of Crypto Firm Probes

Crypto.com announced that the U.S. Securities and Exchange Commission (SEC) has ended its investigation into the exchange without taking enforcement action. The SEC’s decision follows a series of dropped probes against other crypto firms, including Kraken, Coinbase, and Ripple. Crypto.com had previously sued the SEC, challenging its jurisdiction and stance on cryptocurrencies being classified as securities. The shift in the SEC’s approach, marked by a change in leadership and policy under the Trump administration, includes a broader reassessment of its crypto-related actions.

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SEC Dismisses Cases Against Kraken, ConsenSys, and Cumberland DRW, Signaling Shift in Crypto Regulation

The U.S. Securities and Exchange Commission (SEC) has dismissed enforcement actions against Kraken, ConsenSys, and Cumberland DRW LLC, marking a significant shift in its regulatory stance toward the crypto industry. These cases, now closed with prejudice, are part of a broader pivot in the SEC’s approach under the Trump administration, which also saw cases against Coinbase, Robinhood, and others dismissed. The agency is now focusing on creating clearer regulations for digital assets, with a new Crypto Task Force engaging with the industry to develop transparent policies.

Sam Bankman-Fried Transferred to Oklahoma Federal Facility Amid Legal Controversies

Sam Bankman-Fried, the former CEO of the defunct crypto exchange FTX, has been transferred from the Metropolitan Detention Center in Brooklyn to the Oklahoma City Federal Transfer Center as part of his sentence following the collapse of FTX. Bankman-Fried, who faces a fraud sentence with a release date of November 17, 2044, was reportedly woken early and moved without prior notice. His transfer begins the process of placing him in a permanent federal prison. Despite his conviction, Bankman-Fried maintains his innocence, claiming he was wrongfully convicted and that FTX was solvent at the time of its collapse.

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DOJ Seizes Over $200K in Crypto Linked to Hamas Fundraising and Money Laundering

The U.S. Department of Justice (DOJ) seized $201,400 in cryptocurrency linked to Hamas, which was allegedly used to launder over $1.5 million in digital assets since October 2024. The funds were funneled through virtual currency exchanges and intermediaries, and are now held in at least 17 wallets. This action follows sanctions imposed by the U.S. Treasury in January 2024 against crypto facilitators linked to Hamas. The case highlights ongoing concerns about terrorist groups using cryptocurrency for fundraising, prompting questions about the need for stricter industry regulation.

Resources:

sec.gov

justice.gov

crypto.com