Day: May 15, 2025

Europol helps dismantle $23M ‘mafia crypto bank’

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European law enforcement in January arrested 17 suspects of a “mafia crypto bank” who are said to have laundered over 21 million euros ($23.5 million) in crypto for criminal entities in China and the Middle East. The money laundering services were allegedly carried out on behalf of other criminal networks engaged in migrant smuggling and drug trafficking, Europol said in a May 14 statement. Spanish authorities said the criminal organization ran a secret informal money transfer system called hawala and was often compensated in crypto. A total of 17 individuals…

Dems seek suspicious activity reports linked to Trump crypto ventures

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US Democrat lawmakers have sent a letter to the US Treasury demanding access to suspicious activity reports (SARs) on several Trump-backed crypto projects as part of the latest probe into the president’s digital ventures.  Penned by representatives Gerald Connolly, Joseph Morelle, and Jamie Raskin, the May 14 letter asks Treasury Secretary Scott Bessent for all SARS filed since 2023 related to World Liberty Financial (WLF) and the Official Trump (TRUMP) token.  Financial institutions in the US must file SARs with the Financial Crimes Enforcement Network, a bureau within the Department…

“We have a large balance sheet”

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Key Takeaways Coinbase acquired Deribit for $2.9 billion to expand its derivatives market presence. CEO Brian Armstrong indicated interest in further acquisitions, especially international ones. Share this article Coinbase is ready to spend more on acquisitions after reaching a $2.9 billion deal to acquire Deribit, said CEO Brian Armstrong on Bloomberg Television today. Deribit is the leading platform for Bitcoin and Ethereum options trading. The acquisition is Coinbase’s largest so far. With a strong balance sheet in hand, Coinbase is actively scouting M&A deals, Armstrong said, but the company is…

eToro jumps 30% on Nasdaq debut after upsized IPO

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Crypto and stock trading platform eToro has seen its share price gain nearly 30% during its debut on the Nasdaq after the company made a last-minute boost to its initial public offering. Shares in eToro Group Ltd (ETOR) closed May 14 trading at $67, up 28.9% from its initial offering price of $52, according to Yahoo Finance. It brings the company’s market value to over $5.5 billion. Its stock price shot to a high of $74.26 during the trading day before cooling and has also slightly dipped by 0.7% after…

Crypto startups scaring away VCs with 80x valuations: 10T Holdings

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Too many crypto startups are pricing themselves out of venture capital funding by chasing valuations far exceeding their revenues, according to Dan Tapeiro, the CEO of crypto-focused venture capital firm 10T Holdings. “For some reason, founders and CEOs think that they should be raising capital at 50 to 80 times revenue. So that makes it very hard for us to make a return for our liquidity providers,” Tapeiro said while speaking in a panel discussion at the Consensus conference in Toronto on May 14. “So a lot of those deals…

Google search volume for Bitcoin flat as BTC nears new highs — Where are retail investors?

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Key takeaways: Bitcoin (BTC) retail traders are known for entering the market during periods of euphoria, typically after strong monthly gains or a new all-time high. This time is no different, with Bitcoin approaching $104,000 on May 14 while general public interest and retail activity continue to lag. Analysts estimate that in 2025, retail investors were the largest net sellers of BTC, while institutions were the main buyers. But if historical patterns hold, a surge in retail appetite is likely to occur about one week after Bitcoin surpasses the $109,350…