U.S. Justice Department rules for the first time that crypto token HYDRO is a security
The U.S. Department of Justice has announced the conviction of HYDRO founder Shane Hampton and head of financial engineering Michael Kane for manipulating the price of Hydrogen Technology's HYDRO token. The law enforcement agency also said that the two men's sale of HYDRO constituted an unregistered investment contract, and the duo were sentenced to two years and eleven months and three years and nine months in prison, respectively. The investigation found that the two men hired a third-party company, Moonwalkers Trading Limited of South Africa, to use automated bots to place $7 million worth of fake trades and more than $300 million worth of fake orders into the HYDRO market. Shane Hampton, Michael Kane, and their co-conspirators used trading bots to manipulate the price of their company's cryptocurrencies, thereby defrauding investors," said Nicole Argentieri, head of the U.S. Department of Justice's Criminal Division. This is the first time a jury in a federal criminal trial has found that cryptocurrency is a security and that manipulating cryptocurrency prices is securities fraud."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Qualcomm (QCOM.US) acquires robotics software company PickNik to strengthen its presence in the physical AI field
Qualcomm announced on Wednesday that it will acquire the robotics software company PickNik to enhance its presence in the field of physical AI and robotics.
10-Yr Benchmark Govt Yields - Germany vs Other Nations
Four Mac Studio systems run trillion-parameter models, Apple challenges Nvidia's narrative on inference
Apple's hardware chief pointed out that after enterprises purchase devices outright, there is no need to pay by token, and the cost-effectiveness of local computing power might be superior to long-term rental of cloud GPUs. Goldman Sachs believes that if more inference tasks shift to end devices, Nvidia's share in incremental AI activity may fall short of market expectations. Currently, Nvidia's implied volatility is at its lowest since before the pandemic, and option pricing has almost no risk premium allocated for this narrative change. Therefore, Goldman Sachs recommends buying Nvidia put options and going long on Apple.
Canadian Prime Minister: US-Canada trade agreement is still possible, but Ottawa will not give up its right to deepen cooperation with the EU
Canadian Prime Minister Carney stated that while it remains possible to reach a trade agreement with the United States, Canada will not trade its sovereignty for any deal, particularly insisting on its right to independently sign trade agreements. Meanwhile, Carney is actively promoting deeper cooperation between Canada and the European Union, covering critical minerals, energy, scientific research, and student exchanges, aiming to reduce dependence on the US and defend national sovereignty. He emphasized that in an era when connectivity can be weaponized, diversified cooperation is a necessary choice for safeguarding sovereignty.
Crypto prices
More
