Celsius Founder Alex Mashinsky Gets Another Major Ban After Massive Crypto Fraud

CleanSpark's stock plummeted over 9.4% in pre-market trading due to a $378.3 million net loss in the second fiscal quarter, driven by a significant non-cash adjustment to its digital asset holdings. Despite revenue dropping 25% year-over-year, the company expanded its infrastructure and increased its bitcoin holdings.

The Senate Banking Committee released draft text for the CLARITY Act, potentially exempting Bitcoin and Ethereum from federal securities law. The bill includes provisions to prevent the SEC from classifying certain tokens as securities and creates a certification process for token issuers.

Bitcoin's recent recovery has led to a shallower 36% retracement from its October all-time high, with analysts noting a shift in the market cycle. Structural changes, such as institutional capital influx and ETFs, are creating a new normal for crypto assets.

Three Tennessee men have been federally indicted on robbery, kidnapping, and conspiracy charges for a multi-million dollar cryptocurrency theft operation targeting victims in California. The alleged scheme involved using firearms, duct tape, and zip ties to assault victims and force disclosure of cryptocurrency account information.

Ark Invest acquired $5.5 million in Circle Internet (CRCL) shares after the company's stock surged post first-quarter earnings. The investment manager purchased 41,904 shares across three ETFs, boosting CRCL's price by 16% to $131.76. Circle also raised $222 million for its Arc blockchain.

Aave and other stakeholders affected by the Kelp DAO hack are initiating a binding Arbitrum governance vote to transfer $71 million in disputed Ethereum to an Aave LLC-controlled address. The proposal, if approved, would move the funds subject to legal restrictions.

Ray Dalio's concerns about Bitcoin's lack of privacy may hinder central banks from adopting it as a reserve asset, despite its popularity among corporations and institutional investors. The transparency of Bitcoin's blockchain allows for real-time tracking of transactions, potentially deterring large players from embracing it.

The Senate Banking Committee has unveiled the latest version of the market structure bill, including contentious language on stablecoin yield and legal protections for DeFi developers. The bill aims to provide certainty, safeguards, and accountability for Americans in the crypto industry.

Michael Saylor addressed concerns about Strategy potentially selling Bitcoin to fund dividends, stating it would have minimal economic and market impact. He explained the company's decision-making process between buying Bitcoin, retiring debt, or buying back stock.

Payward, the parent company of Kraken, is raising new capital at a $20 billion valuation, with recent acquisitions like Reap and Bitnomial. The company is preparing for a potential IPO, having submitted a draft registration statement to the SEC in November.