News
22 May 2025, 01:08
El Salvador’s Bitcoin Holdings Surge: President Bukele Highlights $678 Million Value and 132.35% Gain
In a recent development, El Salvador’s Bitcoin strategy is back in the spotlight as President Nayib Bukele shared a screenshot highlighting the national Bitcoin holdings valued at $678 million. This
22 May 2025, 00:25
SafeMoon’s Ex-CEO convicted in crypto fraud case
A US federal jury has convicted Braden Karony, former CEO of digital asset company SafeMoon, on all charges in a cryptocurrency fraud case. Prosecutors argued that Karony’s actions resulted in the misappropriation of millions of dollars from investors. Following a 12-day trial before US District Judge Eric R. Komitee, Korony was convicted of conspiracy to commit securities fraud, wire fraud, and money laundering. He faces up to 45 years in prison when sentenced. The jury took only a few hours to reach their decision after a trial that lasted about two weeks, during which Karony insisted he was innocent. A jury also ordered the forfeiture of one residential property and the proceeds from the sale of another, amounting to roughly $2 million. According to prosecutors, the scheme undermined investor confidence in digital assets and contributed to broader concerns about fraud in the crypto market. “The SafeMoon digital asset was anything but safe and turned out to be pie in the sky for investors who were deliberately misled by Karony, a man who sought to get rich quick by stealing and diverting millions of dollars,” US Attorney Joseph Nocella, Jr. said in a statement . Jury finds Karony guilty of conspiracy, money laundering, and wire fraud In the US District Court for the Eastern District of New York, the jury determined that Karony was involved in a conspiracy to defraud the United States, as well as money laundering and wire fraud. Both prosecutors and defense attorneys presented their arguments during the trial that began with jury selection on May 5. The criminal trials against the executive of a cryptocurrency company were widely viewed as a bellwether for how Joseph Nocella, the acting US Attorney for the district, would approach cases of digital assets and fraud. Nocella, a Donald Trump nominee, began serving duty this month. The case began in 2023 with the arrests of Karony, former Chief Technology Officer Thomas Smith, and SafeMoon founder Kyle Nagy. Prosecutors alleged Karony and his “co-conspirators” misled investors about the structure and safety of SafeMoon, a token issued in 2021 that applied a 10% transaction tax on transfers. Half of that fee was purportedly redistributed to token holders, while the remainder was said to be locked in a liquidity pool to support trading. The Justice Department said Karony and others retained access to the liquidity pool and diverted substantial funds for personal use. During the trial, Smith testified against Karony, while Nagy reportedly fled to Russia and remained at large as of May 21. It was, however, unclear when Karony will be back in court for a sentencing hearing. He could spend over 40 years in prison for his role in defrauding and money laundering activities. On the other hand, Smith, who is said to have agreed to a plea deal with prosecutors, stands to get a lighter sentence. Karony’s trial came after a sentencing hearing for former Celsius CEO Alex Mashinsky in the Southern District of New York; a judge sentenced him to a 12-year prison term following a guilty plea. Former FTX CEO Sam Bankman-Fried was sentenced to 25 years in prison after going to trial, having previously maintained his innocence. Karony takes to social media to proclaim innocence as trial unfolds Karony turned to social media to defend himself, claiming he was innocent as his trial for fraud and money laundering charges started in New York. This came after he shared an X post on May 6, likely after the court proceedings had concluded for the day. He declared that he was innocent and did not commit fraud in response to news coverage about his trial. The trial, which is expected to last until May 26, has received less media coverage than other crypto cases, like the sentencing of former Binance CEO Changpeng Zhao. Following Karony’s pleading not guilty to charges of securities fraud conspiracy, wire fraud conspiracy, and money laundering, he had been out on a $3 million bond since February 2024. As the public eagerly waits for Karony’s sentencing hearing in court, fear has struck them as this is yet another crypto executive’s involvement in a fraud case. Investors may, therefore, decide to hold back, their investment dragging crypto space development behind. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
22 May 2025, 00:00
Feds Charge Atlanta Man for Allegedly Applying for Over $3,390,000 in Fraudulent Small Business Loans During COVID
US authorities arrested an Atlanta man this week on charges related to his alleged connection to a COVID-19 relief loan application fraud ring. The Department of Justice (DOJ) alleges that Ian Patrick Jackson, 37, conspired with another Atlanta man to recruit at least nine business owners to submit fraudulent Paycheck Protection Program (PPP) loan applications using fake tax documents. Jackson allegedly told the business owners to falsely claim they each employed 16 individuals and paid monthly wages of $120,000. The DOJ says the owners then wrote falsified payroll checks to people who didn’t work for them and then either kept the money for themselves or paid Jackson via his co-conspirator. Jackson is allegedly connected to 15 fraudulent COVID-19 relief loan applications that inked $3.39 million in proceeds. He’s the 12th person to be charged in connection with an Atlanta-based PPP fraud ring, with the 11 previous defendants having already pled guilty or been convicted at trial. The DOJ says authorities have recovered nearly $1.2 million of the defrauded funds. Jackson also allegedly applied for a separate $237,500 PPP loan using fabricated tax forms and used a forged driver’s license and false revenue statements to fraudulently apply for approximately $100,000 in PPP and Economic Injury Disaster Loan (EIDL) program loans. The DOJ also says he fraudulently secured another $240,035 PPP loan and $125,000 in EIDL program loans and grants on behalf of another company. Jackson has been charged with conspiracy to commit bank fraud, two counts of bank fraud, two counts of wire fraud and two counts of money laundering. The charges could result in decades in prison. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Feds Charge Atlanta Man for Allegedly Applying for Over $3,390,000 in Fraudulent Small Business Loans During COVID appeared first on The Daily Hodl .
21 May 2025, 23:30
Brazil’s Méliuz Announces Plans to Buy Another $26.5M Worth of Bitcoin
The stock market-listed Brazilian payments firm Méliuz has unveiled plans to spend around $26.5 million on Bitcoin (BTC) purchases. The Brazilian media outlet Livecoins reported that the company will raise funds to buy more Bitcoin as part of its newly established treasury strategy. Earlier this month, Méliuz became Brazil’s first stock market-listed BTC treasury company, s pending almost $28.5 million to buy BTC 274.52 . Méliuz (CASH3) share prices on the Brazilian B3 exchange over the past six months. (Source: Google Finance) Méliuz: Bitcoin Plans in Pipeline The company will continue to buy BTC in the weeks ahead. In a statement, the company declared its intention to raise no less than 150 million real ($26.5 million) on “new BTC acquisitions.” The firm said it had told its shareholders about its intentions and was now “evaluating” its fundraising options. Méliuz CEO Israel Salmen said the company would look to an “issuance of shares or convertible debt” in its search for funding. The firm added that it was working with the São Paulo-based investment banking firm BTG Pactual on its plan. BTG Pactual will act as a coordinator when Méliuz has the funds in place to complete its next BTC purchase. Marcio Loures Penna, Méliuz’s Director of Investor Relations and Corporate Governance, confirmed that the company may issue financial assets “representing debt securities.” These may either be convertible into shares or offered in a non-convertible form, he added. The company may alternatively choose to carry out a primary public offering for common shares, with possible subscription bonuses. Méliuz said that while its goal remains raising 150 million real, it may spend even more “if opportunities arise.” However, the firm warned that its plans remain provisional. It said that it would need to complete an evaluation process before it finalized its next BTC buy. @MeliuzBitcoin #CASH3 announced yesterday that it is evaluating a potential capital raise to expand its Bitcoin strategy, through the issuance of shares or convertible debt. BTG has been engaged to coordinate a potential public offering. — Israel Salmen (@IsraelSalmen) May 20, 2025 When Could Méliuz Make Its Next BTC Purchase? Méliuz also refused to put a timeline on its fundraising efforts or its eventual Bitcoin buy. Earlier this month, the fintech player uveiled details of its first Bitcoin buy, as well as news that its shareholders have “approved, by a wide majority, the transformation of Méliuz into the first listed Bitcoin treasury company in Brazil.” The company currently holds BTC 320.2. Penna added that Méliuz “will keep its shareholders and the market informed of any news” on its next BTC buy. He vowed that the firm would act “in line with best corporate governance practices and in accordance with applicable legislation and regulations.” Méliuz was founded in 2011. Its services include cashback and voucher offerings for online and brick-and-mortar retailers, in addition to the Méliuz credit card. The firm launched a successful $103 million initial public offering on the Brazilian B3 exchange in November 2020. The post Brazil’s Méliuz Announces Plans to Buy Another $26.5M Worth of Bitcoin appeared first on Cryptonews .
21 May 2025, 23:28
Senator Gillibrand’s Role in Advancing the GENIUS Act and Potential Conflicts from Crypto Contributions
As the crypto industry evolves, Senator Kirsten Gillibrand’s leadership in advancing the GENIUS Act reflects a pivotal moment in stablecoin regulation. With heightened Senate support, the GENIUS Act is on
21 May 2025, 23:27
Lawmakers, Activists Rally to Protest Trump’s Meme Coin Event – Is Crypto Becoming a Political Flashpoint?
Key Takeaways: Democratic lawmakers and progressive groups are staging a rally in protest of a Trump-hosted dinner for top holders of his $TRUMP meme coin. Critics argue the event commodifies political access, allowing wealthy donors, some based overseas, to buy proximity to a U.S. president. The rally, branded “America Is Not for Sale,” will feature speeches from key Democratic figures and visual protests targeting crypto-related political fundraising. A coalition of Democratic lawmakers and activists is set to rally on May 22 in protest of President Donald Trump’s controversial meme coin dinner, raising concerns over political influence and crypto-fueled favoritism. The event, organized under the banner “America Is Not for Sale,” is a direct response to what critics say is the monetization of political access through Trump’s latest crypto initiative. Trump Slammed for ‘Selling Access’ via meme coin The event, held at Trump National Golf Club in Potomac Falls, Virginia, follows Trump’s announcement that the top 220 holders of his meme coin, $TRUMP, could apply for an exclusive dinner with him. The top 25 are said to qualify for a “VIP White House tour.” Blockchain data shows the token has raised nearly $150 million, with some attendees reportedly spending millions for the chance to meet Trump. Source: Public Citizen Opponents of the event, including members of Congress, say it crosses ethical lines. They claim the president is turning influence into a transaction. “Americans cannot and will not accept President Trump’s view that positions of power exist only to benefit the holder of that power,” said Ryan Ruzic, chair of the Loudoun County Democratic Committee. Public Citizen is organizing the rally with progressive group Our Revolution. Protesters are expected to display banners reading “STOP CRYPTO CORRUPTION” and enlarged graphics of the $TRUMP coin. Oregon Senator Jeff Merkley is scheduled to speak at the rally, alongside several other Democratic figures. According to Our Revolution, some of the coin’s largest holders are based overseas, sparking additional concerns about foreign influence. Crypto industry figures, including Tron founder Justin Sun , Hyperithm co-CEO Oh Sangrok, Kronos Research CIO Vincent Liu, and Synthetix founder Kain Warwick, are among the known tokenholders expected to attend the dinner. According to the project , all attendees must pass background checks and cannot be from countries flagged by Know Your Customer (KYC) compliance lists. Public Citizen Co-President Robert Weissman echoed those concerns. “Trump’s solicitation schemes for money, gifts, and power are out of control,” he said. “Between his outrageous meme coin grift, his Tesla car show on the White House lawn, and his consideration to accept a gifted jumbo jet from Qatar, Trump’s priority goes to the highest bidder.” Trump Family’s Crypto Links Raise Ethics Concerns, Stall Stablecoin Legislation The dinner has also had political consequences in Washington. For example, some Democratic lawmakers have withdrawn support for crypto-related bills in protest , including the GENIUS Act, a measure focused on regulating payment stablecoins. Though the act passed a key Senate vote on May 19 , several senators voiced concern over Trump’s ties to World Liberty Financial, a crypto platform that launched its own stablecoin, USD1, in March. Critics worry the Trump family’s involvement with the company could present serious conflicts of interest. “Many senators, myself included, have very real concerns about the Trump family’s use of crypto technologies to evade oversight, hide shady financial dealings, and personally profit at the expense of everyday Americans,” said Sen. Mark Warner in a statement before the vote. Senator Chris Murphy, who opposed advancing the GENIUS Act , called for bipartisan efforts to add provisions that would bar a U.S. president from issuing stablecoins. The Senate has a chance – right now – to shut down Trump's biggest crypto coin corruption. The pending bill in the Senate regulates a kind of crypto called "stablecoin", but exempts the President from the ethics rules. We shouldn't pass that bill unless that loophole is closed. pic.twitter.com/eHLeCdBV9m — Chris Murphy (@ChrisMurphyCT) May 21, 2025 He also urged the White House to release a full list of dinner attendees, warning that many may be expecting favors in return for their token purchases. Murphy will join Senator Elizabeth Warren and representatives of Public Citizen at a press event on the evening of the dinner. California Representative Maxine Waters, ranking member of the House Financial Services Committee, is planning a separate press conference on May 22. She is expected to introduce legislation to block Trump’s meme coin and curb what she calls “crypto corruption.” Meanwhile, additional protests are being organized by local Democratic groups, including the Arlington and Loudoun County Democratic Committees. “We have a moral responsibility to speak out against corruption, whatever the result may be,” said Ryan Ruzic, chair of the Loudoun County Democrats. The post Lawmakers, Activists Rally to Protest Trump’s Meme Coin Event – Is Crypto Becoming a Political Flashpoint? appeared first on Cryptonews .
