ZachXBT Publishes Investigation Alleging Insider Trading by Axiom Employees

The Clarity Act hangs in the balance: the SEC may hold crypto accountable, and Ripple and developers face immense pressure

The prospects of the "Clarity Act" are unclear, which may lead the SEC to reconsider cryptocurrencies as securities, increasing legal risks. Industry insiders warn that short-termism and conflicting interests may delay the passage of the bill, impacting the legal status of mainstream assets. Cryptocurrency lobbying groups are prepared to address regulatory risks, calling for unity to ensure the long-term safety of the industry.

AI giants’ secret past: Nvidia’s old case is reopened, accused of concealing $1 billion in “mining GPU” revenue

NVIDIA has recently been collectively sued by investors for concealing over $1 billion in cryptocurrency mining revenue, with the case officially proceeding after approval from a U.S. federal judge. Investors allege that NVIDIA did not adequately disclose its business's dependence on cryptocurrency demand during the period from 2017 to 2018, which affected the stock price. Although NVIDIA claims that cryptocurrency mining only constitutes a small part of its business, the company significantly benefited during the crypto boom, and subsequently, its business performance was impacted by fluctuating demand.

A South Korean gang member who squandered $332,000 worth of other people’s Bitcoin was sentenced to eight years, on charges including fraud and money laundering.

The Busan District Court in South Korea sentenced a gang member to eight years in prison for embezzling $332,000 in Bitcoin from a friend and using it for illegal gambling. This case reflects the risks of cryptocurrency in fraud and money laundering, with regulatory and enforcement efforts continuously strengthening, and investors need to be cautious when dealing with digital asset transactions.

Bitmain Security Concerns! Warren Sends Letter to the Commerce Department, Inquiring About the Truth of Trump's Family Purchases.

Democratic Party Senator Elizabeth Warren wrote to the Department of Commerce, urging it to investigate the bitcoin mining company Bitmain’s mining rig transactions and their potential threats to national security, amid concerns that the U.S. government is conducting a security review of the company and worries about possible espionage activities. American Bitcoin, owned by the Trump family, purchased 16,000 mining rigs, and Warren questioned the conflict of interest that could influence decision-making.

Coin Center warns: The U.S. government changeover may suppress cryptocurrency.

Coin Center Executive Director Van Valkenburgh warned that if the CLARITY Act fails to pass, the U.S. government may crack down on cryptocurrency in the absence of clear rules. He emphasized that the current administration's friendly stance has no legal binding, and the lack of legislative protection will increase the legal risks faced by the industry, criticizing operators for focusing only on short-term gains. The bill is stalled in the Senate, mainly due to conflicts of interest between the banking sector and crypto companies.

The court allows the continuation of the class action lawsuit against Nvidia for concealed crypto revenue.

A U.S. court has allowed a class action lawsuit against Nvidia to proceed, focusing on allegations that the company did not fully disclose the impact of crypto mining on its revenue. This follows a previous $5.5 million fine from the SEC over similar disclosure issues. The lawsuit highlights ongoing concerns about Nvidia's revenue dependence on crypto demand, amid increasing scrutiny from regulators and investors on how tech companies present growth sources.