7 Jul 2025, 17:41

US Treasury withdraws Tornado Cash appeal after court rules sanctions unenforceable

The US Treasury has withdrawn its appeal against Tornado Cash, officially ending a legal case over economic sanctions slapped on the crypto tool. This decision was filed with the Eleventh Circuit Court of Appeals, which then tossed the judgment and told the lower court to dismiss the case entirely. The ruling means the government’s guidance on enforcing those sanctions is now dead. This comes after Coin Center and the Treasury agreed to kill the case, as confirmed by Bloomberg Law. Two paragraphs into the ruling, it’s clear the Treasury didn’t want this battle anymore. The court had heard oral arguments on November 19 but never ruled. Instead of waiting, both sides filed a joint motion to wipe the judgment, which was granted. The tool in question, Tornado Cash , is a Russian-developed crypto mixer. And with this latest move, its place on the sanctions list is no longer active. Storm still stands trial despite Tornado Cash sanctions resolution While the civil battle over sanctions has ended, Storm’s criminal trial is moving forward, and the charges are far heavier than anything brought by the US Securities and Exchange Commission. Storm is set to go on trial from July 14. The Department of Justice claims Storm and fellow developer Roman Semenov were responsible for laundering over $1 billion, some of which allegedly came from the Lazarus Group , a North Korean hacking outfit tied to massive crypto heists. Despite the serious allegations, US courts have shown more openness to the defense put forward by Storm and his legal allies. Storm, backed by Coinbase and the Ethereum Foundation, argues that the government is targeting software code, not actions. The entire defense hinges on that point. And while it may have seemed unlikely at first, it’s starting to get traction. A separate civil case has also been built around this same argument, adding more legal pressure on the government’s stance. In May 2024, Alexey Pertsev, another Tornado Cash developer, was convicted by a Dutch court for money laundering and sentenced to five years in prison. He had argued that smart contracts on Tornado Cash run automatically, and he had no direct control. The judges rejected that reasoning and held him accountable anyway. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites

7 Jul 2025, 17:33

Vietnam’s Bitcoin Regulation May Support FATF Compliance and Boost Financial Transparency

Vietnam has taken a decisive step to regulate its cryptocurrency sector by passing the Law on Digital Technology Industry, aiming to meet FATF standards and restore its international financial standing.

7 Jul 2025, 17:03

Metaplanet Expands Bitcoin Holdings With New $239M Purchase

Japanese investment company Metaplanet has taken another big step in its Bitcoin (BTC) strategy. In a recent X post , the firm revealed it had purchased an additional 2,205 BTC, worth about $238.7 million. This new purchase has pushed Metaplanet’s total crypto holdings to 15,555 BTC. This move reflects both the company’s ongoing commitment to Bitcoin and a growing trend among institutional investors. Metaplanet’s Bitcoin Bet Pays Off, Sees Revenue Jumps in Q2 The latest acquisition, bought at an average price of $108,237 per coin, places Metaplanet as the fifth-largest publicly listed company holding the top coin. Meanwhile, U.S.-based software intelligence firm Strategy is topping the list, now owning more than 597,000 BTC. Metaplanet’s focus on building its business around the flagship crypto has shown strong financial results. In Q2 2025, the company reported revenue of nearly 1.1 billion Japanese yen, equal to about $7.6 million. This figure represents a 42.4% increase compared to the second quarter of 2024. The company states that its goal is to develop a business model that is long-lasting, easily scalable, and efficient to manage, utilizing Bitcoin as its financial foundation. This recent revenue growth indicates that its plan is gaining momentum and attracting attention from both investors and the broader financial market. Metaplanet Sets Ambitious Bitcoin Goal In June, Metaplanet updated its long-term goal for its crypto holdings. The company now aims to own over 210,000 BTC by the end of the year 2027. This is a major target and signals the company’s strong belief in the future value and importance of the digital coin in the global financial system. If Metaplanet reaches this goal, it would become one of the largest institutional holders of Bitcoin globally. This would place it in a very strong position within the fast-growing world of digital assets. Metaplanet’s ongoing Bitcoin strategy reflects a broader growing trend. Many companies are increasingly treating the top coin not just as an investment, but as a strategic asset. Earlier today, Semsler Scientific purchased 187 BTC for approximately $ 20 million, bringing its total Bitcoin holdings to 4,636. Firms like Tether-backed Twenty-First, GameStop, and Trump Media are also among the new entrants following this trend. Market Reaction and Stock Performance Following this news, Metaplanet stock dipped by 1.8% while the market remained open, according to Yahoo Finance data. Despite the slight drop, the company’s share price has performed very well over the past several months. In the past month, Metaplanet’s stock has gone up by almost 14% and has jumped by 339% since the start of the year. This substantial rise indicates that investors are confident in Metaplanet’s focus on Bitcoin. It also means they trust the company to grow and handle its investments carefully. The post Metaplanet Expands Bitcoin Holdings With New $239M Purchase appeared first on TheCoinrise.com .

7 Jul 2025, 15:30

Huawei denies copying Alibaba’s Qwen AI model

Allegations stating that Huawei ripped off Alibaba’s Qwen AI model for its Pangu model have surfaced. The company has since denied all those allegations. As open models become more popular, so do concerns over proper attribution, training transparency, and compliance with licensing terms. That has led up to Huawei facing allegations over whether or not it independently developed its AI model. Huawei denies copying Alibaba’s Qwen AI model Huawei has strongly denied the claims that a version of its artificial intelligence large language model, Pangu Pro Moe, copied elements from Alibaba’s Qwen 2.5-14B. The company’s AI research division, Noah’s Ark Lab, released a statement over the weekend to deny the allegations brought to light in a paper published by an entity called HonestAGI. HonestAGI posted a technical report on GitHub on Friday, alleging that Huawei’s Pangu Pro Moe, which is a Mixture of Experts (MoE) version of its Pangu Pro model, shows “extraordinary correlation” with Alibaba’s Qwen 2.5-14B, a smaller member of the Qwen 2.5 model family launched in May 2024. The HonestAGI report claimed that the similarities were significant enough to suggest that Huawei did not train its model entirely from scratch. The paper accused the company of “upcycling” another manufacturer’s model. This is an act that, if done without proper attribution or licensing, could constitute copyright infringement. The paper further alleged that there was a fabrication in Huawei’s technical documentation and misrepresentation of the resources invested in model training. In response, Noah’s Ark Lab firmly rejected these claims , stating, “Pangu Pro Moe is not based on incremental training of other manufacturers’ models.” The lab emphasized that the model was “independently developed and trained” and highlighted innovations in architecture and technical design. The lab pointed out that Pangu Pro Moe is the first large-scale model fully trained on Huawei’s proprietary Ascend AI chips and also insisted that its team strictly followed open-source licensing rules when incorporating third-party components, although it did not specify which open-source models, if any, were used as references. As of the time of writing, Alibaba has not commented on the situation, and HonestAGI has not provided further information. China’s AI industry is under international scrutiny Chinese tech companies are currently vying for dominance in the generative AI space. Bolstered by government backing and strong investor interest, major players in the industry are in a race to roll out more efficient, powerful, and accessible AI models that can rival global leaders like OpenAI and Google DeepMind. Huawei was among the first Chinese companies to enter the large language model (LLM) field when it debuted the original Pangu model in 2021. However, the company’s momentum has since slowed compared to competitors like Alibaba, Baidu, and DeepSeek. In late June, Huawei attempted to reassert itself in the industry by open-sourcing its Pangu Pro Moe models on the Chinese developer platform GitCode. The goal was to attract more developers and promote wider use of its technology by offering free and open access. The company’s strategy is similar to the one adopted by other Chinese firms following the release of DeepSeek’s open-source R1 model earlier this year. Alibaba’s Qwen series is regarded as more consumer-oriented. The Qwen 2.5 family, which includes the 14-billion parameter model at the center of the controversy, is designed for flexible deployment across devices like PCs and smartphones. It also supports chatbot services similar to ChatGPT, making it more immediately visible to the public and end-users. Huawei’s Pangu models, on the other hand, are reportedly geared toward enterprise and government applications, including sectors like finance and manufacturing. While disputes like the one started by HonestAGI add to the international scrutiny on Chinese-made AI models, they also add to the involution narrative festering at home in Chinese tech industries. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now

7 Jul 2025, 15:11

RUVI or TRX? Analysts back the newcomer’s AI token for bigger returns

The cryptocurrency market is rife with opportunities, presenting both seasoned and new investors a range of compelling choices. Tron (TRX) has long been a recognized name, known for its high-speed transactions and decentralized applications. However, a newcomer, Ruvi AI (RUVI), is stealing the spotlight, with industry analysts predicting bigger and safer returns for this blockchain-based artificial intelligence token. Ruvi AI has already showcased a highly successful presale, raised investor confidence with its transparent operations, and introduced real-world applications that span across industries. Here’s why experts believe Ruvi AI outshines Tron and why it’s being hailed as one of the most promising investment opportunities of this cycle. Transparency and security that inspire confidence One of Ruvi AI’s most significant advantages is its unwavering commitment to transparency and security. Unlike many emerging projects that falter in the face of scrutiny, Ruvi AI proactively underwent a third-party audit by CyberScope. This independent audit validated that Ruvi AI’s smart contracts are secure, tamper-proof, and free from vulnerabilities. Such rigorous certification ensures that Ruvi AI is a trustworthy option for cautious investors who prioritize safety. Ruvi AI also partnered with WEEX Exchange to provide guaranteed post-presale liquidity. This level of preparation means RUVI token holders will have instant access to trading opportunities after the presale ends, addressing liquidity concerns frequently observed among new cryptocurrencies. Investors have responded positively to these measures, as they highlight Ruvi AI’s focus on long-term reliability, making it a compelling alternative to Tron. Presale success builds momentum Ruvi AI’s presale has been nothing short of remarkable, with the following milestones achieved: Over $2.2 million raised. More than 180 million tokens sold, underscoring strong demand. An expanding community of 2,000+ holders actively engaging with the project. The token’s current Phase 2 price is just $0.015, offering an accessible entry point for those who act early. By the end of the presale, token prices will rise to $0.07, an almost 5x return for those participating now. Beyond this, analysts are predicting a post-listing valuation of $1 per token, equivalent to a jaw-dropping 66x ROI. These metrics position Ruvi AI as one of the most lucrative opportunities in today’s crypto landscape, surpassing many conservative projections for Tron’s growth. Real-world applications for long-term utility While Tron mainly emphasizes its capabilities for decentralized applications (dApps) and smart contracts, Ruvi AI is carving a niche as a utility-driven token with real-world applications. By integrating blockchain technology with AI-powered solutions, Ruvi AI aims to tackle significant challenges across marketing, entertainment, and finance, offering scalable solutions that go beyond the crypto hype. A smarter future for digital marketing Ruvi AI provides businesses with innovative AI-driven marketing tools. These solutions allow brands to improve audience targeting, optimize ad spend, and maximize return on investment (ROI). By enhancing efficiency in marketing processes, Ruvi AI makes itself indispensable to firms looking to refine their advertising strategies. Supporting creators in entertainment For the entertainment industry, Ruvi AI goes the extra mile with blockchain-secured payment systems. These guarantee fair compensation for creators, ensuring transparency every step of the way. Additionally, the AI-powered audience insights offered by Ruvi AI help content creators better understand their audiences, enabling deeper fan engagement and increased revenue opportunities. Revolutionizing financial technology Ruvi AI also brings innovation to fintech, introducing fraud detection algorithms and secure payment protocols powered by both blockchain and AI. These advancements foster trust among financial stakeholders and ensure seamless, secure transactions for users. Ruvi AI’s focus on improving these critical aspects of finance positions it as a powerful tool in the evolving digital economy. Amplify returns with Ruvi AI’s VIP investment tiers Early supporters of Ruvi AI can enjoy exclusive bonuses through its VIP investment tiers, structured to reward participants based on their commitment. The details of these tiers include: VIP Tier 2 ($750 investment, 40% bonus): Total tokens received: 70,000 (50,000 base + 20,000 bonus). Value at $0.07 per token: $4,900. Value at $1 per token: $70,000. VIP Tier 3 ($2,100 investment, 60% bonus): Total tokens received: 224,000 (140,000 base + 84,000 bonus). Value at $0.07 per token: $15,680. Value at $1 per token: $224,000. VIP Tier 5 ($9,600 investment, 100% bonus): Total tokens received: 1,280,000 (double allocation). Value at $0.07 per token: $89,600. Value at $1 per token: $1,280,000. These attractive returns through exclusive bonuses give early-stage investors the chance to maximize their gains, setting Ruvi AI apart from other cryptocurrencies in its price range. Why analysts prefer Ruvi AI over Tron While Tron benefits from being a recognized name in the crypto world, its utility is largely confined to its existing ecosystem. Ruvi AI, on the other hand, combines innovative technology with an emphasis on transparency, structured growth, and wide-ranging applications. Its affordability at $0.015 per token and projected growth to $1 per token make Ruvi AI uniquely set to deliver superior returns while mitigating risks through its audited framework. For investors seeking a safer, more profitable crypto investment, Ruvi AI stands out as the smarter choice in 2025’s digital revolution. Don’t miss your chance to be a part of this forward-thinking project, join Ruvi AI’s presale today and secure your position in a rising star! Learn More Buy RUVI: https://presale.ruvi.io Website: https://ruvi.io Whitepaper: https://docs.ruvi.io Telegram: https://t.me/ruviofficial Twitter/X: https://x.com/RuviAI Try RUVI AI: https://web.ruvi.io/register The post RUVI or TRX? Analysts back the newcomer’s AI token for bigger returns appeared first on Invezz

7 Jul 2025, 13:30

Cold Calling Fraudsters Sentenced After £1.5M Crypto Scheme

The two men orchestrated a £1.5 million, or $2 million, crypto investment scam that defrauded at least 65 victims. Meanwhile, Brazil faced a major financial breach when a disgruntled employee of C&M Software sold login credentials for just $2,700. This then allowed hackers to steal nearly $140 million from central bank-linked accounts—some of which was laundered via crypto assets. In Sweden, the government is leveraging a new law that allows asset confiscation, including crypto, even without a formal conviction. The main goal of the law is to help curb organized crime, and has already led to the seizure of over $8.3 million in assets. Collectively, these cases prove that there is rising regulatory pressure and a growing emphasis on the role of crypto in financial crimes worldwide. UK FCA Cracks Down on Crypto Fraudsters Two men were sentenced to a combined 12 years in prison in the UK for operating a crypto scam that defrauded at least 65 victims out of more than £1.5 million ($2 million). The Financial Conduct Authority (FCA) announced on Friday that Raymondip Bedi received a prison sentence of five years and four months, while his co-conspirator, Patrick Mavanga, was handed six years and six months. The pair pleaded guilty in November of 2024 to a series of charges including conspiracy to defraud, money laundering, and conspiracy to breach UK financial regulations. According to the FCA, between February of 2017 and June of 2019, Bedi and Mavanga were part of a group that cold-called people and directed them to what appeared to be a legitimate investment website. These sites offered high returns on fake cryptocurrency consultancy services. The operation funneled money through several entities they controlled, including Astaria Group LLP, CCX Capital, and clones of authorized firms like Ian Buckley Financial Services and Capital Partners Group. The FCA described both men as “leading players” in the fraud, with Southwark Crown Court Judge Griffiths stating that they “conspired to drive a coach and horses through the regulatory system.” Mavanga also pleaded guilty to possessing fake identification documents and was convicted of perverting the course of justice for deleting phone call recordings after Bedi’s arrest in March 2019. The FCA’s joint executive director of enforcement, Steve Smart, condemned their actions as a “callous scam” that “ruthlessly defrauded dozens of innocent victims.” A third defendant that was involved in the case is set to face retrial in September after the jury was unable to reach a verdict. A fourth individual, Rowena Bedi, was acquitted of a money laundering charge. Millions Stolen in Brazil Central Bank Hack Cold calls are not the only crypto crimes plaguing the crypto community. C&M Software, the technology provider that connects Brazil’s Central Bank to various financial institutions, suffered a major security breach on Wednesday that led to the theft of approximately 800 million Brazilian reais, or $140 million. The funds were stolen from six institutions linked to the central bank after a C&M employee allegedly sold their login credentials to a hacker for just $2,700. This small but devastating lapse allowed the attacker to access reserve accounts and siphon off a massive amount of capital. The employee suspected of selling his login credentials (Source: Sao Paulo Globo ) Blockchain investigator ZachXBT reported that the perpetrators laundered between $30 million and $40 million of the stolen funds by converting them into Bitcoin (BTC), Ethereum (ETH), and USDT. These crypto assets were then funneled through Latin American exchanges and over-the-counter trading platforms, making the funds much harder to trace. This incident intensified concerns around the security vulnerabilities of centralized financial systems, particularly those that rely on single points of failure like user credentials and internal access controls. Telegram post by ZachXBT The breach also shed some light on the increasing threat landscape facing centralized software and infrastructure, especially in a digital era fueled by the growing capabilities of artificial intelligence. According to Chainalysis , hacks targeting centralized crypto exchanges surged in the third and fourth quarters of 2024, which attributed to cybercriminals focusing on platforms with large attack surfaces and valuable data troves. Eran Barak , CEO of Shielded Technologies and developer of the Midnight privacy-focused blockchain, shared some thoughts on the broader implications of such breaches. He explained that centralized systems offer massive return on investment for cybercriminals due to their concentration of sensitive information. In contrast, decentralized technologies like those using zero-knowledge proofs greatly reduce this appeal. By eliminating central data repositories, these systems force attackers to go after individual wallets, making attacks less rewarding and often not worth the effort. Overall, it is very clear that there is an urgent need for institutions to reconsider the risks of centralized architecture and adopt more resilient, decentralized alternatives. Sweden Targets Crypto Crime with New Asset Seizure Law Meanwhile, Sweden's Justice Minister Gunnar Strömmer urged local enforcement agencies to intensify efforts aimed at seizing assets, including cryptocurrencies, under a recently implemented law that broadens the scope of confiscations. Speaking to financial publication Dagens industri, Strömmer said that authorities like the police, tax agency, and Swedish Enforcement Authority should focus more on cases likely to yield larger criminal proceeds like crypto holdings, real estate, and corporate assets. Since the law came into effect in November of 2024, the Swedish government reportedly seized over $8.3 million in criminal assets. Swedish Justice Minister Gunnar Strömmer The law was introduced to combat rising violent crime, and it allows authorities to confiscate luxury items and large sums of money from people who may not necessarily be the subjects of a formal investigation. The legal shift is a major expansion in Sweden's asset forfeiture strategy. According to the Swedish government, the law allows authorities to seize assets with suspected criminal origins even without proof that a crime has been committed, provided the individual cannot reasonably explain the source of the wealth. For example, someone holding large bank balances or luxury goods without a verifiable income to support such possessions may have them confiscated. While the government hasn’t specified how much of the seized assets were in cryptocurrency, the focus on digital assets suggests an increasing recognition of crypto’s role in illicit finance. Some reports indicate controversial enforcement actions, like one case flagged by The Economist in which a woman had $137,000 in cash and a Rolex watch seized while passing through Gothenburg-Landvetter Airport. Authorities reported seizing approximately $1 million in goods during the law’s first week. (Source: Barron’s ) Additionally, Swedish lawmaker Rickard Nordin recently advocated for Sweden to keep seized Bitcoin as part of a national reserve. In April, he sent a letter to the finance minister recommending a strategy similar to the United States’ “budget-neutral” approach, which involves accumulating seized Bitcoin without selling it.