Hook – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Sat, 17 May 2025 14:39:45 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.7 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Hook – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Tornado Cash Roman Storm Still on the Hook as Trial Set for July 14 https://earlybirdsinvest.com/tornado-cash-roman-storm-still-on-the-hook-as-trial-set-for-july-14/ https://earlybirdsinvest.com/tornado-cash-roman-storm-still-on-the-hook-as-trial-set-for-july-14/#respond Sat, 17 May 2025 14:39:45 +0000 https://earlybirdsinvest.com/tornado-cash-roman-storm-still-on-the-hook-as-trial-set-for-july-14/

Roman Storm, one of the founders of Tornado Cash, is still facing federal charges, but federal prosecutors have agreed to drop one part of the case.

In a letter sent to Judge Katherine Polk Failla on May 15, acting US Attorney Jay Clayton said that one of the charges, related to operating an unlicensed money-transmitting business, would be removed.

The change follows new guidance from the Department of Justice. A memo issued on April 8 by Deputy Attorney General Todd Blanche said the agency would no longer charge crypto projects because of how others use their tools.

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As a result, prosecutors will no longer argue that Storm broke rules by failing to register as a money transmitter. But they are not dropping the accusation that he moved funds knowing they were tied to criminal activity.

The government also continues to claim that Tornado Cash helped criminals move over $1 billion in cryptocurrency. Some of that money came from the Lazarus Group, a North Korea-linked hacking team.

Storm still faces two other charges, one for being part of a money laundering scheme and another for helping to break US sanctions. Both of these charges carry a maximum sentence of 20 years in prison.

The remaining part of the dropped charge could lead to up to 5 years if proven. Additionally, Storm’s trial is set to begin on July 14.

Meanwhile, Changpeng “CZ” Zhao confirmed during the Farokh Radio podcast on May 6 that he asked US President Donald Trump for a pardon. What did he say? Read the full story.

Aaron S. Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

]]> https://earlybirdsinvest.com/tornado-cash-roman-storm-still-on-the-hook-as-trial-set-for-july-14/feed/ 0 36755 FTX Celeb Lawsuit Thinned Out—Stephen Curry, Tom Brady, Larry David Off the Hook https://earlybirdsinvest.com/ftx-celeb-lawsuit-thinned-out-stephen-curry-tom-brady-larry-david-off-the-hook/ https://earlybirdsinvest.com/ftx-celeb-lawsuit-thinned-out-stephen-curry-tom-brady-larry-david-off-the-hook/#respond Fri, 09 May 2025 05:32:00 +0000 https://earlybirdsinvest.com/ftx-celeb-lawsuit-thinned-out-stephen-curry-tom-brady-larry-david-off-the-hook/

A federal judge has dropped the majority of legal claims filed against several celebrities who once promoted the cryptocurrency platform FTX.

The decision came on May 7 from US District Judge K. Michael Moore.

He ruled that the group of investors suing the celebrities did not provide enough proof that these public figures knew anything about FTX’s wrongdoing before the company collapsed.

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The lawsuit originally named several celebrities, including NFL quarterback Tom Brady, NBA star Stephen Curry, tennis player Naomi Osaka, TV personality Kevin O’Leary, comedian Larry David, and the Golden State Warriors basketball team.

They were all featured in FTX advertisements or promotions before the company went bankrupt in late 2022.

Judge Moore stated, “While this behavior demonstrates that defendants were uninformed, negligent, or even reckless, it does not demonstrate that defendants had any knowledge of FTX’s fraud, nor that they had the requisite intent to deceive or defraud investors”.

That said, not all legal risks are off the table. The judge said investors can revise their claims and file again. Also, one part of the lawsuit will continue—specifically, the accusation that the celebrities helped promote investment products that were not properly registered with regulators.

Meanwhile, Changpeng “CZ” Zhao recently confirmed that he has asked US President Donald Trump for a pardon. What prompted his decision? Read the full story.

Aaron S. Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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