1️⃣ The SEC incorporates officials with experience in cryptocurrencies as part of its leadership reform‼️
The U.S. Securities and Exchange Commission (SEC) announced four high-level appointments on Friday. Notably, among the latest appointments are two officials with experience in digital assets. The first is Jamie Selway, who will assume the role of Director of the Division of Trading and Markets on June 17. The second is Brian T. Daly, who will assume the role of Director of the Division of Investment Management on July 8.
Selway recently served as a partner at Sophron Advisors, where he advised clients on capital markets issues. Daly joins the SEC from Akin Gump Strauss Hauer & Feld LLP, where he was a partner in the firm's investment management department. His official biography includes experience in digital assets, cryptocurrencies, blockchain, and traditional financial services, including hedge funds and credit.
2️⃣ The founder of Gotbit was sentenced to prison for cryptocurrency laundering🔒
The founder and CEO of Gotbit, Aleksei Andriunin, was sentenced on Friday to eight months in prison. The prosecution alleged that Andriunin and his company engaged in money laundering to falsely inflate the trading volume of meme coins on behalf of their clients. The charges were part of a broader offensive announced in October 2024, when the Department of Justice formally charged 14 individuals and four companies, including Gotbit, ZM Quant, CLS Global, and MyTrade, with market manipulation and electronic fraud.
3️⃣ The Foundation #Ethereum donates $500,000 to the defense of Tornado Cash co-founder Roman Storm💰
According to reports, the Ethereum Foundation has made a $500,000 donation to support the defense of Tornado Cash co-founder Roman Storm ahead of his trial, which will take place on July 14 in New York. The foundation also stated that it will match up to an additional $750,000 in community donations.
The foundation stated: Privacy is normal and writing code is not a crime.
4️⃣ Charles Hoskinson proposes a $100 million investment in $ADA to boost the DeFi ecosystem of #Cardano 👀
According to reports, the founder of Cardano, Charles Hoskinson, is considering investing $100 million in ADA tokens deposited in the treasury of the Cardano Foundation to support the native DeFi economy of the ecosystem. While the plan is still informal and under study, if implemented, the foundation would purchase assets like Bitcoin, as well as native Cardano stablecoins like USDM, USDA, and IUSD. Hoskinson stated that the idea is being considered by the senior management of the Cardano Foundation and other community members, including Dan Singleman, investment director of the Hoskinson Family Office.
5️⃣ GameStop expands its private offering to $2.25 billion despite falling stocks amid Bitcoin Treasury plans🔼
Reportedly, the video game chain GameStop is increasing the size of its recently announced $1.75 billion zero-coupon senior convertible bond private offering to $2.25 billion. The firm stated that the bonds are unsecured, do not pay interest, and do not accrue value. However, they can be converted into GameStop shares at a premium as they approach maturity. They mature on June 15, 2032, unless converted, redeemed, or repurchased beforehand. The sale is expected to close on June 17, 2025, subject to customary closing conditions.
