ChainCatcher news, according to BusinessWire, a group of investors has recently filed a class action lawsuit against the founder of the Texas-based Bitcoin mining company Rhodium Enterprises, accusing him of fraud.The lawsuit was filed by attorneys from Iacuone McAllister Potter, claiming that the defendants (including Rhodium executives and Imperium Investments Holdings, LLC based in Fort Worth) deliberately misled the plaintiffs by concealing key information and engaging in proprietary trading, resulting in a total investment of $33 million. The case has been filed in the Tarrant County District Court. The lawsuit states, "The defendants intentionally misled and deceived the plaintiffs to secure their millions of dollars in investments so that the defendants could enrich themselves and make Imperium wealthy."The plaintiffs include a dozen investors in Rhodium, who claim that important facts regarding their investments and Rhodium's business operations were deliberately concealed. Most notably, the lawsuit alleges that the defendants failed to disclose a pending transaction to sell Rhodium's operational facilities to direct competitor Riot Blockchain, a deal that directly triggered conflicts with key power contracts.

ChainCatcher news, regarding BiT Global suing Coinbase for $1 billion, accusing it of market manipulation by delisting WBTC. Coinbase's Chief Legal Officer posted on X: "When an asset no longer meets our listing standards, we will drop it. When another asset can meet or exceed market demands without sacrificing those standards, we will list it."

ChainCatcher news, according to WatcherGuru, U.S. crypto-friendly Senator Cynthia Lummis has met with incoming Treasury Secretary Scott Bessent of the Trump administration to discuss issues related to Bitcoin as a strategic reserve.

ChainCatcher news, according to Decrypt, Japanese Senator Satoshi Hamada officially submitted a proposal to the National Diet on December 11 to discuss the establishment of a national Bitcoin reserve. This suggestion echoes the global trend of promoting the establishment of Bitcoin reserves, including similar proposals from Russia, Brazil, Poland, and the United States.As the price of Bitcoin broke its historical high this month, reaching $103,000, discussions on establishing national Bitcoin reserves have gained support in several countries. Senator Hamada believes that Bitcoin reserves can help address global economic challenges and protect national assets.

ChainCatcher news, according to Bitcoin Magazine, Japanese lawmaker Satoshi Hamada submitted an inquiry to the government on December 11, 2024, requesting updates on the latest developments regarding the promotion of Bitcoin reserves by the United States and other countries.

ChainCatcher news, a letter shared by Musk on the X platform shows that his lawyer Alex Spiro wrote to SEC Chairman Gary Gensler yesterday, disclosing that the SEC has demanded Musk accept a settlement involving monetary compensation within 48 hours, or face multiple charges.According to the letter, SEC staff indicated that the request came from higher-ups. Alex Spiro pointed out that this is the latest action following years of investigation and six years of harassment by the SEC against Musk. When the SEC recently summoned Alex Spiro to testify and threatened to send a subpoena, he explicitly refused.The letter questions whether the SEC's actions are not aimed at seeking the truth, but rather an improper crackdown on Musk and his associates, and demands to know whether these actions are directed by the SEC Chairman or the White House.

ChainCatcher news, lawyer Liu Yang stated that in the future, China may implement a licensing system for certain virtual currency businesses, such as the exchange of fiat currency and virtual currency.Based on the current judicial situation, it is possible that relevant departments will be authorized to engage in the exchange of virtual currency to fiat currency, and it is highly likely to be one-way, rather than free exchange; however, trading virtual currency is difficult to liberalize, and issuing coins and mining cannot be liberalized at this stage.

ChainCatcher news, South Korean President Yoon Suk-yeol delivered a televised address to the nation on the morning of the 12th, justifying the emergency martial law implemented on the 3rd.Yoon stated that the actions of the opposition party threaten constitutional order, and that as president, the implementation of emergency martial law is not intended to undermine the country's constitutional order, but rather to inform the public that the nation is in a state of crisis, to protect constitutional order, and to restore the national constitution. He accused the opposition of falsely accusing him of "insurrection" and engaging in impeachment efforts, stating that he would fully cooperate with any impeachment or investigation. (Kim Ten)

ChainCatcher news, according to Jin10 reports, the South Korean police, public prosecution office, and the Ministry of National Defense have jointly established an emergency martial law joint investigation headquarters.

ChainCatcher news, according to Jin Shi reports, as the South Korean investigative authorities gradually advance their investigation into the emergency martial law suspected of "rebellion," President Yoon Suk-yeol has been banned from leaving the country.According to South Korean media reports, Yoon Suk-yeol has begun to contact defense lawyers to prepare a legal team. According to the Korean "National Daily" on the 10th, Yoon Suk-yeol's side is currently discussing with a law firm in the Seocho District of Seoul about taking over the defense for the rebellion charge. The report states that officials around Yoon Suk-yeol have handed the case over to several law firms, some of which are considering whether to accept the case, while others are said to have already declined.

ChainCatcher news, according to Techinasia, Binance CEO Richard Teng stated during a speech at Abu Dhabi Finance Week that the company is still considering potential locations for its global headquarters, with tax laws and the ability to attract talent being key factors in making this decision. Teng did not disclose which regions are being considered.

ChainCatcher news, according to CryptoBriefing, a Russian lawmaker has proposed the establishment of a national Bitcoin reserve to hedge against geopolitical risks and sanctions. Anton Tkachev, a member of the "New People" party in the State Duma of Russia, submitted a formal appeal to Finance Minister Anton Siluanov, suggesting the creation of a Bitcoin reserve similar to traditional national currency reserves. Tkachev wrote in the appeal, "For countries under sanctions, cryptocurrencies have effectively become the only tool for international trade due to difficulties in accessing traditional international payment systems." This proposal comes at a time when Russia is facing restricted access to the global financial system due to sanctions.Tkachev emphasized that traditional foreign exchange reserves are vulnerable to sanctions, inflation, and volatility, which could threaten Russia's financial stability. He pointed out that modern challenges require the introduction of new payment processing systems and alternative reserve storage tools, mentioning cryptocurrencies like Bitcoin that are independent of any single country. The lawmaker specifically referred to the possibility of Bitcoin reaching $100,000 by December 2024, highlighting its potential as a store of value and investment asset.Tkachev added that this initiative aligns with the efforts of the Central Bank of Russia to incorporate digital assets into cross-border payments and emphasized the increasing importance of cryptocurrencies as viable tools for international trade. The implementation of this measure would require significant policy adjustments and coordination among government agencies, including the central bank and financial regulatory bodies.

ChainCatcher news, the State Administration for Market Regulation recently filed an investigation against NVIDIA Corporation for suspected violations of the Anti-Monopoly Law of the People's Republic of China and relevant provisions in Announcement No. 16 of 2020. This case involves potential restrictive practices following NVIDIA's acquisition of shares in Mellanox Technologies, and specific details have not yet been disclosed; the investigation is still ongoing.

ChainCatcher news, according to Yonhap News Agency, the Special Investigation Team of the National Investigation Agency under the Korean National Police Agency, which is responsible for investigating the "12·3 Emergency Martial Law Incident," held a press conference on the 9th.The investigation team stated regarding the possibility of Yoon Suk-yeol being urgently detained that if the conditions are met, urgent detention can be carried out according to the law. However, it is necessary to consider whether the relevant conditions are satisfied. According to regulations, urgent detention can be implemented when a suspect is accused of crimes that could result in the death penalty, life imprisonment, or a long-term sentence of three years or more, and there is a suspicion of "fleeing or destroying evidence," but due to the urgency of the situation, there is not enough time to request a judge to issue a detention warrant.

ChainCatcher news, South Korea's largest opposition party, the Democratic Party of Korea, submitted the "Yoon Suk-yeol Internal Disturbance Special Prosecutor Act" proposal to the National Assembly on December 9 local time, along with a proposal regarding the First Lady, "Kim Geon-hee Special Prosecutor Act." (Kim Ten)

ChainCatcher news, according to Jinshi reports, the emergency martial law situation in South Korea continues, with the Korea Composite Stock Price Index closing down for three consecutive days since the martial law turmoil; foreign investors have cumulatively net sold over 1.1 trillion won for three consecutive days, equivalent to over 5.8 billion yuan; yesterday, the closing exchange rate of the won against the dollar was the lowest in more than two years. Overseas investment bank Citigroup stated that the rising political risk in South Korea will increase the pressure of capital outflow, bringing downward risks to the won. South Korean media describe the current economic situation in South Korea as "surrounded on all sides."

ChainCatcher news, according to Jinshi reports, former New York Fed Chairman Bill Dudley stated that if the Trump administration truly wants to support the emerging cryptocurrency industry, it should establish a set of laws and regulations to allow it to develop and operate safely. For example, ensuring that stablecoins are fully backed by Federal Reserve deposits or short-term Treasury bills. Legislation should define whether tokens are currencies or securities, and who will regulate them. Rules should be established to protect consumers and prohibit their use in criminal activities such as financing terrorism or illegal drug sales.Cryptographic technology has the potential to improve the financial system— for example, making it easier and cheaper for people to trade financial assets, or enabling immigrants to send money back to their families more easily. However, without strong safeguards, fraud and abuse will persist, undermining the trust needed to establish these benefits.

ChainCatcher news, according to the Financial Times, the UK's National Crime Agency (NCA) has announced the successful dismantling of a large-scale cryptocurrency money laundering network spanning London, Moscow, and Dubai. The case primarily involves two companies: Smart and TGR, which acted as financial intermediaries, providing cross-border money transfer services for cash-rich criminals and sanctioned individuals worldwide through cryptocurrency.The investigation revealed that this network provided services to criminal organizations, ransomware gangs, and Russian espionage activities, including the Kinahan drug trafficking group, from the end of 2022 to the summer of 2023. Its operation involved couriers collecting cash in the UK and elsewhere, exchanging it for cryptocurrency primarily in USDT, and then laundering the money through a network of companies, providing equivalent funds in other countries.Ekaterina Zhdanova, the 38-year-old owner of Smart, a resident of Moscow, has been accused of transferring over $100 million to an unnamed sanctioned oligarch in the UAE, and is currently under U.S. sanctions and detained in France. The money laundering network collected cash at 55 different locations across England, Scotland, Wales, and the Channel Islands in just four months, serving at least 22 criminal groups.NCA's action director Rob Jones stated that this is the agency's most significant anti-money laundering operation to date. Law enforcement has arrested 84 individuals and seized a total of £20 million in cash and cryptocurrency. The U.S. Treasury has imposed economic sanctions on five individuals and several companies involved. The operation was assisted by the U.S. FBI, DEA, as well as police forces from France and Ireland.