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Crypto mogul Do Kwon sentenced to 15 years in prison over massive $40B currency collapse
Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, was sentenced in New York federal court on Thursday to 15 years in prison for fraud and conspiracy. Kwon, 34, who co-founded Singapore-based Terraform Labs and developed the TerraUSD and Luna currencies, previously pleaded guilty and admitted to misleading investors about a coin that was supposed to maintain a steady price during periods of crypto market volatility. Kwon was one of several cryptocurrency moguls to face federal charges after a slump in digital token prices in 2022 prompted ... (full story)
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From newsable.asianetnews.com|Dec 11, 2025Klarna (KLAR) announced on Thursday that it is partnering with Privy to co-design a crypto wallet, just days after the company launched its own stablecoin. KLAR’s stock edged 0.9% ...
From a16zcrypto.com|Dec 11, 2025Stablecoins accounted for an estimated 46 trillion dollars in transaction volume last year, constantly hitting new all time highs. To put that into perspective, that’s more than ...
From federalreserve.gov|Dec 11, 2025|2 commentsFollowing a comprehensive review by the boards of directors of the regional Reserve Banks, and the unanimous concurrence of Federal Reserve Board members, the Federal Reserve on Thursday announced the reappointment of Federal Reserve Bank presidents and first vice presidents. By law, all Reserve Bank presidents and first vice presidents serve five-year terms, with each of the current terms expiring on February 28, 2026. In December 2024, the board of directors of each Reserve Bank, representing a wide range of business and community leaders across each district, started a process to assess their president and first vice president across several performance dimensions. Those factors included: • The president's active engagement with the local business, financial, and non-profit communities within the district; • Their effectiveness as the chief executive officer of the Reserve Bank, including developing and implementing the Bank's strategy and leading its staff; and • Their leadership contributions to the Federal Reserve System as a whole, notably in supporting coordinated System functions and activities. First vice presidents were largely evaluated in their role as the chief operating officer of each Reserve Bank, with a focus on their management of both local Reserve Bank operations and Federal Reserve System initiatives. In preparing its overall assessment of each president NEW: The Fed's board of governors voted unanimously on Wednesday to reappoint 11 reserve bank presidents to new five year terms beginning next March 1. (Atlanta Fed President Raphael Bostic had previously announced he would retire at the end of his term in February)
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From @FirstSquawk|Dec 11, 2025|15 commentsTRUMP SAYS U.S. WILL SOON BEGIN PAYING OFF NATIONAL DEBT USING TARIFF REVENUE *TRUMP: SPEAK TO CHINA'S XI A LOT ABOUT AI *TRUMP: TALK TO CHINA, RUSSIA ABOUT DENUCLEARIZATION
From morningstar.com|Dec 11, 2025Bitcoin traded 26% away from its record high Thursday, while the Dow Jones Industrial Average and S&P 500 closed at record highs. Bitcoin was mostly unchanged on Thursday, even as ...
From beemarkets.com|Dec 11, 2025Bitcoin fell 2.5% to $90,056.24, breaking below the psychological $90,000 mark as market sentiment soured following disappointing AI-related earnings from Oracle. Investors were ...
