The Securities and Exchange Commission has filed a lawsuit against Beaxy, affiliated entities, and executives for operating an unlicensed securities exchange.

The lawsuit alleges that they engaged in the sale of an unregistered security with exchange token BXY, and also operated Beaxy as an unregistered securities exchange, failing to register as a broker or a clearing agency.

Find out what the rest of the allegations entail and the details behind a $900,000 misappropriation of funds by listening to the article above.

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A judge for the United States District Court in the Southern District of California has ruled that DAO token holders can, as members of a general partnership, be held liable in a class action lawsuit for a hack suffered by bZx DAO. The lawsuit relates to a hack the bZx protocol experienced in November 2021 when one of the developers was phished and it was compromised for approximately $55 million worth of tokens.

After the hack, the 'DAO' voted to approve a plan that would eventually provide replacement DAO and debt tokens that would be repurchased. The plaintiffs in this lawsuit allege that this repayment would take "thousands of years."

Listen to the article to find out what this decision could mean for those holding any tokens with governance rights.

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Silvergate Bank announced its voluntary liquidation and said that it would soon be closing as a bank -- so why is it still trading on the New York Stock Exchange and worth approximately $2 a share? Listen to the article to find out why.

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Elusive Three Arrows Capital founders Kyle Davies and Su Zhu face being found in contempt of court if they fail to respond to an order summoning them to court in the British Virgin Islands.

The pair have been ordered to attend court on May 22 to aid in the collapsed firm’s liquidation proceedings. Listen to why authorities shouldn't hold their breath waiting for Davies and Zhu to get in touch by clicking the video above.

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Terraform Labs founder and former fugitive Do Kwon is currently in a Montenegro jail awaiting likely indictment for alleged document forgery. Protos spoke to a criminal defense lawyer in the country to learn what daily life is now like for Kwon — and it’s a world away from the luxury of the private jet he attempted to board before his arrest.

Listen to the article above to find out the type of prison Kwon might be finding himself in and just how lengthy his sentence could be.

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Coinbase wants to create more stablecoins to diversify away from its longtime favorite, the beleaguered USDC. The $16 billion crypto exchange has published its intent to develop a suite of experimental, inflation-adjusting stablecoins. These so-called ‘flatcoins’ will denominate trading pairs on Base, its proprietary Ethereum Layer 2 network.

You can find out everything you need to know about Coinbase's new 'flatcoins' by listening to the article above.

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On Monday, March 13, the year’s largest crypto hack so far occurred. Almost $200 million was stolen from decentralized lending protocol Euler Finance. The attack was devastating to the Ethereum-based platform, whose total value locked dropped by over 95%, as well as other DeFi projects which had funds tied up in Euler, such as Angle and Balancer.

Thanks to on-chain messages, we see how negotiations with the hacker took place. Listen to the article to find out what was exchanged between the two parties and what we now know about the hacker.

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A new superseding indictment has been filed against Sam Bankman-Fried, the former FTX and Alameda Research chief. The indictment adds a new conspiracy charge related to a bribery scheme that allegedly saw SBF direct more than $40 million in cryptocurrency to Chinese officials.

Listen to why SBF has been hit with these latest charges that add to an already growing list of crimes.

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The US Federal Reserve rejected Custodia Bank’s application for a master account on January 27. Last week, it released a document explaining its reasoning for the rejection.

Like Kraken founder Jesse Powell, many fans of Custodia (formerly Avanti) praised its fully backed, non-fractional reserve banking application. However, almost no one spoke about Custodia’s shadowy plan to mint its own stablecoin with “implicit backing” from the Fed that would, according to regulators, add “a new, meaningful, volatile source of demand for Federal Reserve liabilities.”

Aside from Custodia’s founder Caitlin Long, the bank had no bigger cheerleader than Powell. Indeed, he tweeted his support for Custodia regularly. Listen to the article learn, unsurprisingly, he has a long history of supporting other shadowy stablecoins, especially Tether.

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The Commodity Futures Trading Commission has filed a lawsuit against Binance chief Changpeng Zhao, Binance, and it’s chief compliance officer, Samuel Lin.

It alleges serious compliance breaches, including a failure to register, allowing US persons to trade products they shouldn’t, and numerous KYC and AML failures.

Listen to the article to find a full breakdown of the allegations and Binance’s response to the lawsuit.

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