Category: Cryptocurrency News

Thomas John Sfraga, also known as “TJ Stone,” received 45 months in prison for wire fraud and was ordered to pay more than $1.3 million in forfeiture as part of a scheme targeting crypto investors.In a March 14 notice, the US Justice Department said Sfraga was sentenced in the US District Court for the Eastern District of New York (EDNY) for wire fraud following a May 2024 guilty plea. Court filings stated that the influencer and podcaster claimed he was the owner of businesses — including Vandelay Contracting, a name based on a running joke from the television series Seinfeld — and the emcee of many crypto events in New York City.“[…] Sfraga convinced a victim to invest in a fictitious cryptocurrency ‘virtual wallet,’” said the Justice Department. “He promised the victims returns on their investments as high as 60% in three months. In reality, however, Sfraga used the money entrusted to him by the victims for his own benefit, to pay expenses, and to pay earlier victims and business associates.”Sfraga’s case was one of many involving crypto-related crimes continuing to be pursued in the jurisdiction following the appointment of John Durham as interim US Attorney by President Donald Trump. Braden John Karony, former CEO of SafeMoon, who also faces EDNY criminal charges, requested in February that his criminal trial for securities fraud conspiracy, wire fraud conspiracy and money laundering conspiracy be pushed based on the administration’s approach to crypto enforcement. The “Seinfeldian” scheme, according to Durham, was not the first time the crypto industry was connected to the popular sitcom. Comedian Larry David, co-creator of the show, starred in a Super Bowl ad for defunct cryptocurrency exchange FTX in 2022. He later said he was “an idiot” for endorsing the company and lost a lot of money after the price of specific tokens dropped.Related: Why comedian TJ Miller wants to be a trustworthy face for BitcoinSince Trump took office on Jan. 20, some high-profile defendants in criminal cases involving cryptocurrency have reportedly been looking into appealing to the US president for a pardon. Among those reportedly seeking pardons were former FTX CEO Sam Bankman-Fried, currently serving a 25-year sentence following a 2023 conviction, and former Binance CEO Changpeng Zhao, who served a four-month sentence in 2024 — though he denied reports of a potential pardon.Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why

Thomas John Sfraga, also known as “TJ Stone,” received 45 months in prison for wire fraud and was ordered to pay more than $1.3 million in forfeiture as part of a scheme targeting crypto investors.In a March 14 notice, the US Justice Department said Sfraga was sentenced in the US District Court for the Eastern District of New York (EDNY) for wire fraud following a May 2024 guilty plea. Court filings stated that the influencer and podcaster claimed he was the owner of businesses — including Vandelay Contracting, a name based on a running joke from the television series Seinfeld — and the emcee of many crypto events in New York City.“[…] Sfraga convinced a victim to invest in a fictitious cryptocurrency ‘virtual wallet,’” said the Justice Department. “He promised the victims returns on their investments as high as 60% in three months. In reality, however, Sfraga used the money entrusted to him by the victims for his own benefit, to pay expenses, and to pay earlier victims and business associates.”Sfraga’s case was one of many involving crypto-related crimes continuing to be pursued in the jurisdiction following the appointment of John Durham as interim US Attorney by President Donald Trump. Braden John Karony, former CEO of SafeMoon, who also faces EDNY criminal charges, requested in February that his criminal trial for securities fraud conspiracy, wire fraud conspiracy and money laundering conspiracy be pushed based on the administration’s approach to crypto enforcement. The “Seinfeldian” scheme, according to Durham, was not the first time the crypto industry was connected to the popular sitcom. Comedian Larry David, co-creator of the show, starred in a Super Bowl ad for defunct cryptocurrency exchange FTX in 2022. He later said he was “an idiot” for endorsing the company and lost a lot of money after the price of specific tokens dropped.Related: Why comedian TJ Miller wants to be a trustworthy face for BitcoinSince Trump took office on Jan. 20, some high-profile defendants in criminal cases involving cryptocurrency have reportedly been looking into appealing to the US president for a pardon. Among those reportedly seeking pardons were former FTX CEO Sam Bankman-Fried, currently serving a 25-year sentence following a 2023 conviction, and former Binance CEO Changpeng Zhao, who served a four-month sentence in 2024 — though he denied reports of a potential pardon.Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why

Thomas John Sfraga, also known as “TJ Stone,” received 45 months in prison for wire fraud and was ordered to pay more than $1.3 million in forfeiture as part of a scheme targeting crypto investors.In a March 14 notice, the US Justice Department said Sfraga was sentenced in the US District Court for the Eastern District of New York (EDNY) for wire fraud following a May 2024 guilty plea. Court filings stated that the influencer and podcaster claimed he was the owner of businesses — including Vandelay Contracting, a name based on a running joke from the television series Seinfeld — and the emcee of many crypto events in New York City.“[…] Sfraga convinced a victim to invest in a fictitious cryptocurrency ‘virtual wallet,’” said the Justice Department. “He promised the victims returns on their investments as high as 60% in three months. In reality, however, Sfraga used the money entrusted to him by the victims for his own benefit, to pay expenses, and to pay earlier victims and business associates.”Sfraga’s case was one of many involving crypto-related crimes continuing to be pursued in the jurisdiction following the appointment of John Durham as interim US Attorney by President Donald Trump. Braden John Karony, former CEO of SafeMoon, who also faces EDNY criminal charges, requested in February that his criminal trial for securities fraud conspiracy, wire fraud conspiracy and money laundering conspiracy be pushed based on the administration’s approach to crypto enforcement. The “Seinfeldian” scheme, according to Durham, was not the first time the crypto industry was connected to the popular sitcom. Comedian Larry David, co-creator of the show, starred in a Super Bowl ad for defunct cryptocurrency exchange FTX in 2022. He later said he was “an idiot” for endorsing the company and lost a lot of money after the price of specific tokens dropped.Related: Why comedian TJ Miller wants to be a trustworthy face for BitcoinSince Trump took office on Jan. 20, some high-profile defendants in criminal cases involving cryptocurrency have reportedly been looking into appealing to the US president for a pardon. Among those reportedly seeking pardons were former FTX CEO Sam Bankman-Fried, currently serving a 25-year sentence following a 2023 conviction, and former Binance CEO Changpeng Zhao, who served a four-month sentence in 2024 — though he denied reports of a potential pardon.Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why

Thomas John Sfraga, also known as “TJ Stone,” received 45 months in prison for wire fraud and was ordered to pay more than $1.3 million in forfeiture as part of a scheme targeting crypto investors.In a March 14 notice, the US Justice Department said Sfraga was sentenced in the US District Court for the Eastern District of New York (EDNY) for wire fraud following a May 2024 guilty plea. Court filings stated that the influencer and podcaster claimed he was the owner of businesses — including Vandelay Contracting, a name based on a running joke from the television series Seinfeld — and the emcee of many crypto events in New York City.“[…] Sfraga convinced a victim to invest in a fictitious cryptocurrency ‘virtual wallet,’” said the Justice Department. “He promised the victims returns on their investments as high as 60% in three months. In reality, however, Sfraga used the money entrusted to him by the victims for his own benefit, to pay expenses, and to pay earlier victims and business associates.”Sfraga’s case was one of many involving crypto-related crimes continuing to be pursued in the jurisdiction following the appointment of John Durham as interim US Attorney by President Donald Trump. Braden John Karony, former CEO of SafeMoon, who also faces EDNY criminal charges, requested in February that his criminal trial for securities fraud conspiracy, wire fraud conspiracy and money laundering conspiracy be pushed based on the administration’s approach to crypto enforcement. The “Seinfeldian” scheme, according to Durham, was not the first time the crypto industry was connected to the popular sitcom. Comedian Larry David, co-creator of the show, starred in a Super Bowl ad for defunct cryptocurrency exchange FTX in 2022. He later said he was “an idiot” for endorsing the company and lost a lot of money after the price of specific tokens dropped.Related: Why comedian TJ Miller wants to be a trustworthy face for BitcoinSince Trump took office on Jan. 20, some high-profile defendants in criminal cases involving cryptocurrency have reportedly been looking into appealing to the US president for a pardon. Among those reportedly seeking pardons were former FTX CEO Sam Bankman-Fried, currently serving a 25-year sentence following a 2023 conviction, and former Binance CEO Changpeng Zhao, who served a four-month sentence in 2024 — though he denied reports of a potential pardon.Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why

This content is provided by a sponsor. XRPTurbo ($XRT) has soared past another major milestone, raising over 70,000 XRP during its highly anticipated presale, and industry analysts believe the presale may wrap up far ahead of schedule. With XRP’s recent price spike amidst growing optimism that Ripple Labs may soon resolve its longstanding legal battle […]

XRP has surged to $2.36, marking a 5% increase over the past 24 hours, with a market capitalization of $136 billion. Trading volume for the day reached $4.09 billion, as the cryptocurrency moved within an intraday range of $2.22 to $2.39, remaining 30.6% below its all-time high of $3.40. XRP On the one-hour chart, XRP […]

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In the first three months of his presidency, Donald Trump has ignited trade tensions by announcing tariffs on Canada, Mexico, and China and the result has been unexpected turmoil in US and global markets.The fallout from the tariffs has been relatively swift, and the impact has been felt across the crypto market. As of March 8, the US president had backed away from some plans to impose tariffs on certain Mexican and Canadian goods—another twist in the rollercoaster of US trade policy that continues to shake markets.Singapore crypto trading firm QCP Capital said in a note. “This week’s crypto markets have been nothing short of a roller coaster. With macro conditions in flux, crypto remains tightly linked to equities, with price action reflecting broader economic shifts.”The wild swings underscore the volatility ahead for cryptocurrencies—often seen as high-risk assets—as the Trump administration tests the limits of economic and foreign policy and serves as a cautionary tale as uncertainty pervades markets. In a post on X, former US Treasury Secretary Lawrence Summers said that […] tariff policy has already taken $2 trillion off the value of the US stock market,” and Summers suggested that these measures were “ill-conceived” and that they would undermine US competitiveness. “No wonder Wall Street’s fear gauge is up by one-third.”Volatility index (VIX) price action. Source: Yahoo! Finance.While tariffs and Trump’s market-moving policy announcements may create a sense of impending doom, their impact on the future of the crypto sector remains in question. If a trade war weakens the US dollar through inflation, Bitcoin could actually benefit, says Eugene Epstein, head of trading and structured products at Moneycorp. Investors fleeing depreciating fiat currencies may turn to crypto, and if tariff-hit nations devalue their currencies in response, Bitcoin could serve as a vehicle for capital flight.Unlike traditional markets, Bitcoin trades 24/7 and reacts instantly to macroeconomic shifts, making it highly vulnerable to risk-off sentiment. “Sentiment-wise, the primary drivers of crypto will continue to be the status of a federal crypto reserve as well as overall risk sentiment. If US equities continue falling it is hard to envision a strong crypto market, at least in the near term,” Epstein said.Many in the crypto community expected Trump’s return to the White House to send Bitcoin soaring, and initially, it did—rising from $69,374 on Election Day to a record $108,786 by Inauguration Day. But since then, BTC has tumbled, dropping below $80,000 by late February and again in March. The price weakness comes despite the administration’s pro-crypto stance, including plans for a strategic crypto reserve and market-structure reforms.Cumulative flows into Bitcoin Spot ETFs reached record highs following Trump’s victory, with investors pouring over $10 billion into these instruments in the aftermath of the election, according to data by Farside Investors. However, growing concerns over a potential tariff war seem to have taken a toll on market sentiment and, by extension, on cryptocurrencies. Since early February, Bitcoin ETFs have seen significant outflows as uncertainty looms over the broader economic landscape. At the same time, safe haven assets like gold, have actually responded positively amid the tariff war. Spot Bitcoin ETF flows. Source: Farside Investors.This isn’t the first time President Trump has wielded tariff threats as a bargaining chip and some traders believe the market will adjust to focus on fundamentals over the blunt use of tariffs as a way to force policy changes among US allies. That’s why some traders in the industry choose to not base their strategies solely on tariffs. For Bob Walden, head of Trading at Abra, tariffs are “just a headline” that influences short-term investor sentiment but doesn’t alter the market’s fundamental conditions.  “To me, tariffs are a red herring. It is something Trump uses as a bargaining chip, and I do not think they mean anything to crypto. They initially caused a drawdown—tariffs caught a market that was long at the top and over-leveraged looking for an exciting move—but that was a correlation, not the causation.” Related: 3 reasons why Bitcoin sells off on Trump tariff newsWalden points to Trump’s fiscal austerity program as the real driver of crypto markets. “That is what everyone’s looking at in the TradFi space. Tariffs are just another piece in the fiscal austerity trade that’s happening across global markets—that is actually what’s influencing crypto a lot more, as fiscal austerity means less cash out there to deploy.”This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

In the first three months of his presidency, Donald Trump has ignited trade tensions by announcing tariffs on Canada, Mexico, and China and the result has been unexpected turmoil in US and global markets.The fallout from the tariffs has been relatively swift, and the impact has been felt across the crypto market. As of March 8, the US president had backed away from some plans to impose tariffs on certain Mexican and Canadian goods—another twist in the rollercoaster of US trade policy that continues to shake markets.Singapore crypto trading firm QCP Capital said in a note. “This week’s crypto markets have been nothing short of a roller coaster. With macro conditions in flux, crypto remains tightly linked to equities, with price action reflecting broader economic shifts.”The wild swings underscore the volatility ahead for cryptocurrencies—often seen as high-risk assets—as the Trump administration tests the limits of economic and foreign policy and serves as a cautionary tale as uncertainty pervades markets. In a post on X, former US Treasury Secretary Lawrence Summers said that […] tariff policy has already taken $2 trillion off the value of the US stock market,” and Summers suggested that these measures were “ill-conceived” and that they would undermine US competitiveness. “No wonder Wall Street’s fear gauge is up by one-third.”Volatility index (VIX) price action. Source: Yahoo! Finance.While tariffs and Trump’s market-moving policy announcements may create a sense of impending doom, their impact on the future of the crypto sector remains in question. If a trade war weakens the US dollar through inflation, Bitcoin could actually benefit, says Eugene Epstein, head of trading and structured products at Moneycorp. Investors fleeing depreciating fiat currencies may turn to crypto, and if tariff-hit nations devalue their currencies in response, Bitcoin could serve as a vehicle for capital flight.Unlike traditional markets, Bitcoin trades 24/7 and reacts instantly to macroeconomic shifts, making it highly vulnerable to risk-off sentiment. “Sentiment-wise, the primary drivers of crypto will continue to be the status of a federal crypto reserve as well as overall risk sentiment. If US equities continue falling it is hard to envision a strong crypto market, at least in the near term,” Epstein said.Many in the crypto community expected Trump’s return to the White House to send Bitcoin soaring, and initially, it did—rising from $69,374 on Election Day to a record $108,786 by Inauguration Day. But since then, BTC has tumbled, dropping below $80,000 by late February and again in March. The price weakness comes despite the administration’s pro-crypto stance, including plans for a strategic crypto reserve and market-structure reforms.Cumulative flows into Bitcoin Spot ETFs reached record highs following Trump’s victory, with investors pouring over $10 billion into these instruments in the aftermath of the election, according to data by Farside Investors. However, growing concerns over a potential tariff war seem to have taken a toll on market sentiment and, by extension, on cryptocurrencies. Since early February, Bitcoin ETFs have seen significant outflows as uncertainty looms over the broader economic landscape. At the same time, safe haven assets like gold, have actually responded positively amid the tariff war. Spot Bitcoin ETF flows. Source: Farside Investors.This isn’t the first time President Trump has wielded tariff threats as a bargaining chip and some traders believe the market will adjust to focus on fundamentals over the blunt use of tariffs as a way to force policy changes among US allies. That’s why some traders in the industry choose to not base their strategies solely on tariffs. For Bob Wallden, head of Trading at Abra, tariffs are “just a headline” that influences short-term investor sentiment but doesn’t alter the market’s fundamental conditions.  “To me, tariffs are a red herring. It is something Trump uses as a bargaining chip, and I do not think they mean anything to crypto. They initially caused a drawdown—tariffs caught a market that was long at the top and over-leveraged looking for an exciting move—but that was a correlation, not the causation.” Related: 3 reasons why Bitcoin sells off on Trump tariff newsWallden points to Trump’s fiscal austerity program as the real driver of crypto markets. “That is what everyone’s looking at in the TradFi space. Tariffs are just another piece in the fiscal austerity trade that’s happening across global markets—that is actually what’s influencing crypto a lot more, as fiscal austerity means less cash out there to deploy.”This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

In the first three months of his presidency, Donald Trump has ignited trade tensions by announcing tariffs on Canada, Mexico, and China and the result has been unexpected turmoil in US and global markets.The fallout from the tariffs has been relatively swift, and the impact has been felt across the crypto market. As of March 8, the US president had backed away from some plans to impose tariffs on certain Mexican and Canadian goods—another twist in the rollercoaster of US trade policy that continues to shake markets.Singapore crypto trading firm QCP Capital said in a note. “This week’s crypto markets have been nothing short of a roller coaster. With macro conditions in flux, crypto remains tightly linked to equities, with price action reflecting broader economic shifts.”The wild swings underscore the volatility ahead for cryptocurrencies—often seen as high-risk assets—as the Trump administration tests the limits of economic and foreign policy and serves as a cautionary tale as uncertainty pervades markets. In a post on X, former US Treasury Secretary Lawrence Summers said that […] tariff policy has already taken $2 trillion off the value of the US stock market,” and Summers suggested that these measures were “ill-conceived” and that they would undermine US competitiveness. “No wonder Wall Street’s fear gauge is up by one-third.”Volatility index (VIX) price action. Source: Yahoo! Finance.While tariffs and Trump’s market-moving policy announcements may create a sense of impending doom, their impact on the future of the crypto sector remains in question. If a trade war weakens the US dollar through inflation, Bitcoin could actually benefit, says Eugene Epstein, head of trading and structured products at Moneycorp. Investors fleeing depreciating fiat currencies may turn to crypto, and if tariff-hit nations devalue their currencies in response, Bitcoin could serve as a vehicle for capital flight.Unlike traditional markets, Bitcoin trades 24/7 and reacts instantly to macroeconomic shifts, making it highly vulnerable to risk-off sentiment. “Sentiment-wise, the primary drivers of crypto will continue to be the status of a federal crypto reserve as well as overall risk sentiment. If US equities continue falling it is hard to envision a strong crypto market, at least in the near term,” Epstein said.Many in the crypto community expected Trump’s return to the White House to send Bitcoin soaring, and initially, it did—rising from $69,374 on Election Day to a record $108,786 by Inauguration Day. But since then, BTC has tumbled, dropping below $80,000 by late February and again in March. The price weakness comes despite the administration’s pro-crypto stance, including plans for a strategic crypto reserve and market-structure reforms.Cumulative flows into Bitcoin Spot ETFs reached record highs following Trump’s victory, with investors pouring over $10 billion into these instruments in the aftermath of the election, according to data by Farside Investors. However, growing concerns over a potential tariff war seem to have taken a toll on market sentiment and, by extension, on cryptocurrencies. Since early February, Bitcoin ETFs have seen significant outflows as uncertainty looms over the broader economic landscape. At the same time, safe haven assets like gold, have actually responded positively amid the tariff war. Spot Bitcoin ETF flows. Source: Farside Investors.This isn’t the first time President Trump has wielded tariff threats as a bargaining chip and some traders believe the market will adjust to focus on fundamentals over the blunt use of tariffs as a way to force policy changes among US allies. That’s why some traders in the industry choose to not base their strategies solely on tariffs. For Bob Wallden, head of Trading at Abra, tariffs are “just a headline” that influences short-term investor sentiment but doesn’t alter the market’s fundamental conditions.  “To me, tariffs are a red herring. It is something Trump uses as a bargaining chip, and I do not think they mean anything to crypto. They initially caused a drawdown—tariffs caught a market that was long at the top and over-leveraged looking for an exciting move—but that was a correlation, not the causation.” Related: 3 reasons why Bitcoin sells off on Trump tariff newsWallden points to Trump’s fiscal austerity program as the real driver of crypto markets. “That is what everyone’s looking at in the TradFi space. Tariffs are just another piece in the fiscal austerity trade that’s happening across global markets—that is actually what’s influencing crypto a lot more, as fiscal austerity means less cash out there to deploy.”This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.