🌙 Tornado Cash Developer Jailed

31 year old Alexey Pertsev, is found guilty of money laundering $1.2B through his app by a Dutch court and sentenced to 5 years in prison.

Author

Mike Gavela
May 14, 2024

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Crypto Roundup - May 14

Alexey Pertsev, developer of Tornado Cash, has been found guilty of money laundering by a Dutch court and faces 64 months in prison. Meanwhile, the State of Wisconsin's Investment Board has revealed significant investments in BlackRock’s bitcoin ETF, amounting to nearly $100 million, signaling a growing institutional interest in cryptocurrency. In related financial news, a rally in GameStop shares has spurred a surge in meme coins like Pepe, Floki, and MOG, highlighting the continued volatility and speculative interest within the cryptocurrency markets.

Top Stories:

  • Alexey Pertsev Convicted: Faces 64 months due to his involvement with the cryptocurrency mixer, Tornado Cash.

  • Wisconsin Invests in Crypto: The state’s investment board discloses a nearly $100M stake in BlackRock's bitcoin ETF, marking a significant institutional foray into digital assets.

  • Meme Coin Market Surge: Triggered by a rally in GameStop's stock, meme coins including Pepe, Floki, and MOG have seen notable increases in value.

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TOP STORIES

Alexey Pertsev found guilty of money laundering, faces 64 months in prison

Alexey Pertsev’s verdict by a Dutch Court shouldn’t impact Roman Storm’s upcoming trial, CoinCenter’s Peter Van Valkenburgh says.

blockworks.co/news/alexey-pertsev-tornado-cash-guilty

State of Wisconsin’s investment board discloses nearly $100M of BlackRock’s bitcoin ETF

The state of Wisconsin's 13F filing with the SEC shows that the board bought $99 million, or roughly 2.4 million shares, of IBIT.

blockworks.co/news/wisconsin-discloses-blackrock-ibit-shares

GameStop Rally Sends Meme Coins Skywards; PEPE, FLOKI, MOG Surge

“Roaring Kitty is living proof that retail can mog (outperform) institutions at the highest level,” one meme coin developer said.

www.coindesk.com/markets/2024/05/14/gamestop-rally-sends-meme-coins-skywards-pepe-floki-mog-surge

FUNDRAISES

OTHER HEADLINES

Kim Kardashian, other celebs promise big crypto gains. A new study says they mislead investors

Getting prominent crypto influencers to shill a crypto token isn’t enough for it to catch a bid in the long run, according to a recent study.

www.dlnews.com/articles/defi/crypto-influencers-deliver-only-brief-gains-for-investors

The GameStop meme stock frenzy returns. Is the Fed to blame?

The Federal Reserve may be responsible for the resurgence of meme stocks.

www.dlnews.com/articles/markets/is-the-federal-reserve-to-blame-for-gamestops-ascent

The GameStop surge is reigniting crypto’s memecoin craze — here are the winners

Keith Gill, aka Roaring Kitty, broke an almost three-year social media hiatus that sparked a market frenzy.

www.dlnews.com/articles/markets/gamestop-surge-reignites-memecoin-craze-here-are-winners

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