Earlier this week, the US Commodity Futures Trading Commission filed a lawsuit against Binance for trading against customers and misusing internal trading channels
The collapse of several banks in the last two weeks has spread fears of contagion in global markets, but crypto markets saw a bull run, with Bitcoin climbing to its nine-month high on Monday
SVB crisis: After the SVB was shut down by US regulators on Friday, the crypto market plunged deep into the red, but they had largely recovered by Tuesday
Cryptocurrency news: If found guilty under PMLA, the person who committed money laundering can be awarded rigorous imprisonment for a minimum of three years up to seven years, with a fine
BlockFi said in a statement that it will use the Chapter 11 process to "focus on recovering all obligations owed to BlockFi by its counterparties, including FTX and associated corporate entities"
It's unclear exactly who's making the transactions, but you wouldn't expect to see these on-chain trades at this time: Alex Svanevik, chief executive officer at Nansen
The collapse this week of FTX dealt another blow to the cryptocurrency industry, which has seen severe volatility and bankruptcies of other high-profile firms, including Celsius Network Ltd
On Tuesday, the world's biggest exchange, Binance Holdings Ltd., was set to acquire troubled rival FTX.com. On Wednesday, Binance walked away from the deal citing problems with FTX's finances
