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Cancer Diagnosis Helps Keep Jack Abramoff Out of Prison for 'AML Bitcoin' Fraud Scheme

Former lobbyist Jack Abramoff was sentenced to three years of federal probation and ordered to pay $2.2 million in restitution for his involvement in the AML Bitcoin fraud scheme. Abramoff faced charges alongside CEO Marcus Andrade, who falsely claimed that AML Bitcoin technology would prevent money laundering. Instead of serving prison time, Abramoff's sentence was influenced by his guilty plea, cooperation in the case against Andrade, and a serious cancer diagnosis. Both he and Andrade had misused funds from a $5 million initial coin offering for personal expenses, while making false claims about government contracts and even a Super Bowl advertisement. The judge, citing Abramoff's circumstances, indicated that there was little prospect of recidivism, reflecting a decision that balanced legal accountability with personal health considerations.

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Bitcoin Futures Traders Refuse to Capitulate Even as BTC Price Drops to $89K

Bitcoin has fallen to $89,000, raising questions about whether futures traders are abandoning ship. Despite this dip, the Bitcoin derivatives market shows stability, suggesting that traders might expect a price reversal. The 30-day futures premium remains close to 4%, a level indicating traders are not overly distressed despite the

Pro-Crypto CFTC Chair Nominee Won’t Commit to More Agency Resources or Dem Commissioners

During his Senate confirmation hearing, Mike Selig, the nominee for chair of the Commodity Futures Trading Commission (CFTC), declined to state that the agency requires more resources to regulate the expanding crypto market. This refusal came despite bipartisan support from senators who stressed the need for an enhanced budget and

New XRP and Dogecoin ETFs Expected to Begin Trading in the Coming Days

Analysts predict that new ETFs tracking XRP and Dogecoin may begin trading within the next few days. The anticipated launch follows previous delays attributed to a U.S. government shutdown affecting regulatory approvals. Bitwise Asset Management's ETF is expected to start trading soon, with Grayscale and Franklin Templeton

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