Crypto Scammer Gets Prison Time for Swiping NFTs, Coins via Hacked X Accounts

A young cybercriminal is going to prison after stealing NFTs and cryptocurrency using hijacked accounts on X—formerly Twitter—in an elaborate con.  Canadian citizen Cameron Albert Redman, 22, was sentenced to one year in prison on Tuesday for conspiracy to commit wire fraud, wire fraud, and conspiracy to commit aggravated identity theft. U.S. authorities said Wednesday that Redman and his co-conspirators in 2022 conned over 200 victims and pocketed $794,000 in days with a scam where they used ha...

A young cybercriminal is going to prison after stealing NFTs and cryptocurrency using hijacked accounts on X—formerly Twitter—in an elaborate con.  Canadian citizen Cameron Albert Redman, 22, was sentenced to one year in prison on Tuesday for conspiracy to commit wire fraud, wire fraud, and conspiracy to commit aggravated identity theft. U.S. authorities said Wednesday that Redman and his co-conspirators in 2022 conned over 200 victims and pocketed $794,000 in days with a scam where they used ha...

Robinhood Beats Q2 Expectations Despite Sagging Crypto Revenue

Robinhood posted a stronger-than-expected performance in the second quarter, surpassing analyst expectations yet again this year, despite a cooldown in revenue from crypto trading. The retail brokerage posted $989 million in total sales, up 45% from a year ago and surpassing analysts’ expectations of $913 million, according to MarketScreener data. With an earnings per share mark of $0.42, Robinhood reported $386 million in second-quarter profits, up $50 million year-over-year and beating analyst...

Robinhood posted a stronger-than-expected performance in the second quarter, surpassing analyst expectations yet again this year, despite a cooldown in revenue from crypto trading. The retail brokerage posted $989 million in total sales, up 45% from a year ago and surpassing analysts’ expectations of $913 million, according to MarketScreener data. With an earnings per share mark of $0.42, Robinhood reported $386 million in second-quarter profits, up $50 million year-over-year and beating analyst...

Polygon Foundation Links Network Outage to 'Validator Exit'

Ethereum scaling solution Polygon was disrupted for over an hour on Wednesday after a validator leaving the network triggered an unexpected bug. In a since-deleted post on X, the Polygon Foundation said a “validator exit” temporarily prevented Heimdall, the network’s validation layer, from being able to progress. Polygon’s proof-of-stake chain, Bor, was still able to produce blocks, however, it said. A spokesperson for the Polygon Foundation told Decrypt that the post was replaced with a new one...

Ethereum scaling solution Polygon was disrupted for over an hour on Wednesday after a validator leaving the network triggered an unexpected bug. In a since-deleted post on X, the Polygon Foundation said a “validator exit” temporarily prevented Heimdall, the network’s validation layer, from being able to progress. Polygon’s proof-of-stake chain, Bor, was still able to produce blocks, however, it said. A spokesperson for the Polygon Foundation told Decrypt that the post was replaced with a new one...

White House Wants Americans to Report, Pay Taxes on Foreign Crypto Accounts

The White House proposed Wednesday that Congress consider enacting legislation obligating U.S. taxpayers to report “foreign digital asset accounts,” in a move the Trump administration  said would discourage Americans from moving their crypto offshore. Such a policy shift would “promote the growth and use of digital assets in the United States and alleviate concerns that the lack of a reporting program could disadvantage the United States or U.S. digital asset exchanges,” the policy proposal said...

The White House proposed Wednesday that Congress consider enacting legislation obligating U.S. taxpayers to report “foreign digital asset accounts,” in a move the Trump administration  said would discourage Americans from moving their crypto offshore. Such a policy shift would “promote the growth and use of digital assets in the United States and alleviate concerns that the lack of a reporting program could disadvantage the United States or U.S. digital asset exchanges,” the policy proposal said...

Will Ethereum Hit a New All-Time High This Year? Odds Favor Bulls: Analysis

Can Ethereum finally break free from its three-year prison and set a new all-time high by the end of 2025? That's the $72,000 question on Myriad—a prediction markets platform built by Decrypt’s parent company Dastan—where traders are putting real money on the line with increasingly bullish odds. The market has generated over $72K in volume to date and has seen some wild swings over the last week. Just days ago, bears had taken control and set the odds at 53% that Ethereum would not hit an all-ti...

Can Ethereum finally break free from its three-year prison and set a new all-time high by the end of 2025? That's the $72,000 question on Myriad—a prediction markets platform built by Decrypt’s parent company Dastan—where traders are putting real money on the line with increasingly bullish odds. The market has generated over $72K in volume to date and has seen some wild swings over the last week. Just days ago, bears had taken control and set the odds at 53% that Ethereum would not hit an all-ti...

Bitcoin Holds Steady as Fed Leaves Interest Rate Intact

Bitcoin ticked down only slightly after the U.S. central bank left the Federal funds rate intact, as analysts had widely expected amid uncertain inflation readings and the Fed's cautious rhetoric in recent months. BTC was recently trading at $117,777, off just 0.1% over the past hour, according to crypto markets data provider CoinGecko, remaining relatively steady following the announcement. The largest cryptocurrency by market capitalization is down about 4% since hitting a record high near $12...

Bitcoin ticked down only slightly after the U.S. central bank left the Federal funds rate intact, as analysts had widely expected amid uncertain inflation readings and the Fed's cautious rhetoric in recent months. BTC was recently trading at $117,777, off just 0.1% over the past hour, according to crypto markets data provider CoinGecko, remaining relatively steady following the announcement. The largest cryptocurrency by market capitalization is down about 4% since hitting a record high near $12...

Myriad Moves: More Gains for Ethereum? And Can Tornado Cash Dev Roman Storm Avoid Prison?

Arthur Hayes, one of crypto’s biggest personalities, recently predicted that Ethereum could rip to $10,000 by the end of the year, as the second-largest crypto asset by market cap has surged more than 50% in the last month.  Yet, ETH has recently stalled below $4,000, leaving predictors in limbo on a handful of Ethereum-related Myriad markets.  Beyond crypto though, predictors are putting their knowledge to the test on a diverse array of markets across pop culture, sports, and science, predictin...

Arthur Hayes, one of crypto’s biggest personalities, recently predicted that Ethereum could rip to $10,000 by the end of the year, as the second-largest crypto asset by market cap has surged more than 50% in the last month.  Yet, ETH has recently stalled below $4,000, leaving predictors in limbo on a handful of Ethereum-related Myriad markets.  Beyond crypto though, predictors are putting their knowledge to the test on a diverse array of markets across pop culture, sports, and science, predictin...

Indian Production Company Faces Backlash for Releasing AI Altered Film Without Director’s Consent

Indian production company Eros International is releasing a version of its 2013 film Raanjhanaa with an AI-produced ending—without the original director’s involvement or consent.  Scheduled for release on August 1, the new version of Raanjhanaa will be in Tamil instead of Hindi, and will include an ending which Eros states is more sensitive to the Tamil audience. Speaking to Decrypt, Eros CEO Pradeep Dwivedi stressed that only a small portion of the film has been modified, and that the original...

Indian production company Eros International is releasing a version of its 2013 film Raanjhanaa with an AI-produced ending—without the original director’s involvement or consent.  Scheduled for release on August 1, the new version of Raanjhanaa will be in Tamil instead of Hindi, and will include an ending which Eros states is more sensitive to the Tamil audience. Speaking to Decrypt, Eros CEO Pradeep Dwivedi stressed that only a small portion of the film has been modified, and that the original...

White House: Sprawling Crypto Report Makes No Mention of Bitcoin Reserve

A senior Trump administration official confirmed Wednesday that the White House’s hotly anticipated crypto report, which is set to drop today, will not include any recommendations related to the federal government’s creation of a federal Bitcoin reserve or separate digital asset stockpile. Despite the sprawling report being “over 160 pages long,” according to the official, and containing “dozens of recommendations” related to crypto policy, it will not touch on one of the Trump administration’s...

A senior Trump administration official confirmed Wednesday that the White House’s hotly anticipated crypto report, which is set to drop today, will not include any recommendations related to the federal government’s creation of a federal Bitcoin reserve or separate digital asset stockpile. Despite the sprawling report being “over 160 pages long,” according to the official, and containing “dozens of recommendations” related to crypto policy, it will not touch on one of the Trump administration’s...

Bitcoin Miner MARA Is Missing Out on AI Boom: Compass Point

Analysts at investment firm Compass Point reiterated a “neutral” rating for Marathon Digital on Wednesday, arguing that the firm’s focus on preparing for Bitcoin’s next halving relies on unproven strategies that may be hard for investors to immediately assess. On Tuesday, the Miami-based firm disclosed $238 million in second quarter revenue, a 64% jump from a year prior. Net income rose 505% to a record $808 million, partly due to a $1.2 billion gain in the fair value of Marathon’s Bitcoin holdi...

Analysts at investment firm Compass Point reiterated a “neutral” rating for Marathon Digital on Wednesday, arguing that the firm’s focus on preparing for Bitcoin’s next halving relies on unproven strategies that may be hard for investors to immediately assess. On Tuesday, the Miami-based firm disclosed $238 million in second quarter revenue, a 64% jump from a year prior. Net income rose 505% to a record $808 million, partly due to a $1.2 billion gain in the fair value of Marathon’s Bitcoin holdi...

Alleged XRP Thief Also Accused of Stealing Ethereum, SHIB From George Jones' Widow

A Tennessee man charged with stealing millions of dollars worth of XRP from the widow of country music sensation George Jones has been further accused of stealing additional crypto tokens from the woman, including Shiba Inu (SHIB) and Ethereum (ETH).  Kirk West, who until weeks ago was the live-in lover of George Jones’ widow, Nancy Jones, was arrested Friday in Nashville for allegedly stealing $400,000 in cash and a Ledger wallet containing $17 million worth of XRP from a safe in Jones’ home....

A Tennessee man charged with stealing millions of dollars worth of XRP from the widow of country music sensation George Jones has been further accused of stealing additional crypto tokens from the woman, including Shiba Inu (SHIB) and Ethereum (ETH).  Kirk West, who until weeks ago was the live-in lover of George Jones’ widow, Nancy Jones, was arrested Friday in Nashville for allegedly stealing $400,000 in cash and a Ledger wallet containing $17 million worth of XRP from a safe in Jones’ home....

Dragonfly Capital No Longer Under DOJ Scrutiny In Tornado Cash Trial: Co-Founder

The U.S. Department of Justice has pulled back from pursuing charges against venture firm Dragonfly for its early investment in crypto mixer Tornado Cash, according to a statement from the firm’s co-founder, Haseeb Qureshi. “The DOJ has now backtracked,” Qureshi tweeted Tuesday. “They have stated on the record in the trial Monday morning that the media reports that they were planning to bring charges against Dragonfly were inaccurate, and neither Dragonfly nor any of its principals are targets i...

The U.S. Department of Justice has pulled back from pursuing charges against venture firm Dragonfly for its early investment in crypto mixer Tornado Cash, according to a statement from the firm’s co-founder, Haseeb Qureshi. “The DOJ has now backtracked,” Qureshi tweeted Tuesday. “They have stated on the record in the trial Monday morning that the media reports that they were planning to bring charges against Dragonfly were inaccurate, and neither Dragonfly nor any of its principals are targets i...

Bitcoin, Ethereum, and XRP Slump as US Interest Rate Decision Nears

Bitcoin, Ethereum, XRP, and other major cryptos slumped on Wednesday morning ahead of the Federal Open Markets Committee's monetary policy decision. Investors seem overwhelmingly sure the U.S. central bank will keep interest rates unchanged, according to the CME FedWatch Tool, which shows a 97% probability that the U.S. central bank will hold. Federal Reserve Chair Jerome Powell is expected to deliver his remarks around 2 p.m. Eastern Time. The Bitcoin price was recently trading at $117,700, dow...

Bitcoin, Ethereum, XRP, and other major cryptos slumped on Wednesday morning ahead of the Federal Open Markets Committee's monetary policy decision. Investors seem overwhelmingly sure the U.S. central bank will keep interest rates unchanged, according to the CME FedWatch Tool, which shows a 97% probability that the U.S. central bank will hold. Federal Reserve Chair Jerome Powell is expected to deliver his remarks around 2 p.m. Eastern Time. The Bitcoin price was recently trading at $117,700, dow...

Base Overtakes Solana in Daily Tokens Created As Pump.fun Continues to Shrink

Zora, a token launchpad on Coinbase’s Ethereum layer-2 network Base, accounted for more tokens created than Solana’s big hitters Pump.fun and LetsBonk on Monday. Last month, Zora created approximately 6,500 tokens every day, per Dune data, but on Monday it exploded to an all-time high of 51,575 tokens created in a single day. By comparison, LetsBonk created 22,554 and Pump.fun just 4,173—with Zora accounting for 67.7% of all token creations across Base and Solana. “This is the first time since e...

Zora, a token launchpad on Coinbase’s Ethereum layer-2 network Base, accounted for more tokens created than Solana’s big hitters Pump.fun and LetsBonk on Monday. Last month, Zora created approximately 6,500 tokens every day, per Dune data, but on Monday it exploded to an all-time high of 51,575 tokens created in a single day. By comparison, LetsBonk created 22,554 and Pump.fun just 4,173—with Zora accounting for 67.7% of all token creations across Base and Solana. “This is the first time since e...

JP Morgan, Coinbase to Enable 'Direct Bank-to-Wallet Connection' for Chase Customers

JPMorgan Chase and Coinbase announced a deal Wednesday, allowing Chase customers to directly link bank accounts to their cryptocurrency wallets starting in 2026. The partnership "marks a significant step forward in empowering our customers to take control of their financial futures,” said Melissa Feldsher, Head of Payments and Lending Innovation for JPMorganChase, in a statement shared with Decrypt. She added that the program would enable Chase customers to "seamlessly and securely convert their...

JPMorgan Chase and Coinbase announced a deal Wednesday, allowing Chase customers to directly link bank accounts to their cryptocurrency wallets starting in 2026. The partnership "marks a significant step forward in empowering our customers to take control of their financial futures,” said Melissa Feldsher, Head of Payments and Lending Innovation for JPMorganChase, in a statement shared with Decrypt. She added that the program would enable Chase customers to "seamlessly and securely convert their...

Kraken Eyes $500M Fundraise at $15B Valuation Ahead of Potential IPO: Report

Kraken, one of the world’s largest cryptocurrency exchanges, is reportedly planning to raise $500 million in a funding round at a $15 billion valuation. The exchange has not publicly commented on the potential round, which was first reported by The Information, citing anonymous sources. Founded in 2011, Kraken has a daily trading volume of $1.25 billion, according to CoinGecko. The news follows reports from Bloomberg earlier this year indicating that Kraken is targeting an initial public offeri...

Kraken, one of the world’s largest cryptocurrency exchanges, is reportedly planning to raise $500 million in a funding round at a $15 billion valuation. The exchange has not publicly commented on the potential round, which was first reported by The Information, citing anonymous sources. Founded in 2011, Kraken has a daily trading volume of $1.25 billion, according to CoinGecko. The news follows reports from Bloomberg earlier this year indicating that Kraken is targeting an initial public offeri...

Indonesia to Hike Crypto Taxes, Target Offshore Platforms With Higher Rates Next Month

Indonesia is tightening its grip on crypto trading with a tax overhaul that will hit offshore platforms with a five-fold rate increase, as the Southeast Asian nation seeks to capture revenue from its booming $39.67 billion crypto market. Beginning August 1, new finance ministry rules will impose a 1% levy on crypto sales through foreign exchanges, up sharply from the current 0.2%, while transactions on local platforms face increases from 0.1% to 0.21%, according to Reuters. The policy shift acc...

Indonesia is tightening its grip on crypto trading with a tax overhaul that will hit offshore platforms with a five-fold rate increase, as the Southeast Asian nation seeks to capture revenue from its booming $39.67 billion crypto market. Beginning August 1, new finance ministry rules will impose a 1% levy on crypto sales through foreign exchanges, up sharply from the current 0.2%, while transactions on local platforms face increases from 0.1% to 0.21%, according to Reuters. The policy shift acc...

Florida Sheriff's Office Forced to Return Seized Crypto After Legal Challenge

Authorities in Volusia County were compelled to return seized crypto and pay legal fees after a botched confiscation targeting a foreign business owner exposed serious procedural violations and lack of evidence. Attorney Leslie Sammis of Sammis Law Firm represented the EU-licensed brokerage company, whose Kraken account was frozen and seized in April.  The case details were revealed in a Tuesday post by the law firm, highlighting what Sammis called "the strange world of civil asset forfeiture....

Authorities in Volusia County were compelled to return seized crypto and pay legal fees after a botched confiscation targeting a foreign business owner exposed serious procedural violations and lack of evidence. Attorney Leslie Sammis of Sammis Law Firm represented the EU-licensed brokerage company, whose Kraken account was frozen and seized in April.  The case details were revealed in a Tuesday post by the law firm, highlighting what Sammis called "the strange world of civil asset forfeiture....

Chinese Exec Jailed for Laundering $19.5M Through Crypto Mixers, Exchanges

A Beijing court sentenced a former technology firm executive to 14 years and six months in prison on Tuesday for embezzling 140 million yuan (US$19.5 million) and laundering the funds through crypto. The executive, surnamed Feng, held responsibility for approving incentive payouts at a short video platform. Prosecutors said he colluded with external vendors to submit false claims and reroute corporate funds into accounts he controlled. The money was then converted into Bitcoin and other digital...

A Beijing court sentenced a former technology firm executive to 14 years and six months in prison on Tuesday for embezzling 140 million yuan (US$19.5 million) and laundering the funds through crypto. The executive, surnamed Feng, held responsibility for approving incentive payouts at a short video platform. Prosecutors said he colluded with external vendors to submit false claims and reroute corporate funds into accounts he controlled. The money was then converted into Bitcoin and other digital...

Ethereum Defies Bitcoin Slump as Analysts See Path to $5,000

Ethereum is holding firm despite Bitcoin’s retreat, with analysts pointing to supportive market conditions this week that could accelerate its climb toward $5,000. While altcoins fumbled amid Bitcoin’s correction to $117,000 on Monday, Ethereum went against the tide, rallying nearly 3% from Tuesday’s low of $3,716. The move pushes the second-largest token closer to the $4,000 psychological level for the fourth time since March 2024. Several bullish fundamentals are now at play, Decrypt was told....

Ethereum is holding firm despite Bitcoin’s retreat, with analysts pointing to supportive market conditions this week that could accelerate its climb toward $5,000. While altcoins fumbled amid Bitcoin’s correction to $117,000 on Monday, Ethereum went against the tide, rallying nearly 3% from Tuesday’s low of $3,716. The move pushes the second-largest token closer to the $4,000 psychological level for the fourth time since March 2024. Several bullish fundamentals are now at play, Decrypt was told....