"I want to make a big announcement," said Faryar Shirzad, the chief policy officer of Coinbase, to a nearly empty room. His words echoed across the massive hall at the Bitcoin Conference, deep in the caverns of The Venetian Expo in Las Vegas, and it wasn't apparent how many people were watching on the livestream. Then again, somebody out there may have been interested in the panelists he was interviewing, one of whom was unusual by Bitcoin Conference standards: Chris LaCivita, the political consultant who'd co-chaired Donald Trump's 2024 presidential campaign.

"I am super proud to say it on this stage," Shirzad continued, addressing the dozens of people scattered across 5,000 chairs. "We have just become a major sponsor of the America250 effort."

My jaw dropped. Coinbase, the world's largest crypto exchange, the owner of 12 percent of the world's Bitcoin supply, and listed on the S&P 500, was paying for Trump to hold a military parade.

No wonder they made the announcement in an empty room. Today was "Code and Country": an entire day of MAGA-themed panels on the Nakamoto Main Stage, full of Republican legislators, White House officials, and political operatives, all of whom pr …

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Two years after legal proceedings began, the SEC has formally dropped its lawsuit against Binance, the world’s largest crypto exchange. It was one of the US government’s final ongoing actions against crypto companies.

Lawyers for the SEC and Binance jointly moved to dismiss the case in a filing on Thursday. It follows a 60-day pause requested by both parties in February. The case has been dismissed with prejudice, meaning the SEC can’t pursue it again. “We’re deeply grateful to [SEC] Chairman Paul Atkins and the Trump administration for recognizing that innovation can’t thrive under regulation by enforcement,” Binance told Reuters in a statement, calling the dismissal “a landmark moment.”

The SEC sued Binance in 2023, accusing it, and founder Changpeng Zhao, of operating an illegal exchange in the US and defrauding investors, along with a string of other offenses. Binance settled a separate case with the Department of Justice in 2023, which saw the company agree to pay $4.3 billion in fines. Zhao himself stepped down from the company and pled guilty to breaking anti-money-laundering laws, paying $50 million in personal fines and serving a four-month prison sentence.

The SEC dismissal is the latest sign of the Trump administration’s embrace of the cryptocurrency industry. In April it disbanded a DOJ unit dedicated to enforcing cryptocurrency fraud, and already this year the SEC has dropped investigations into both Coinbase and Robinhood. Meanwhile Trump has bolstered the crypto industry by launching a Crypto Strategic Reserve and hosting a private dinner for those willing to back (or short) his own $TRUMP meme coin.

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Masked men jumped out of a white-panel van in Paris this week, attempting to snatch a 34-year-old woman off the street. The woman's husband fought back and suffered a fractured skull, according to France24. The woman continued resisting long enough for a bike shop owner named Nabil to rush out swinging a fire extinguisher, which he hurled after the departing van as the attackers finally fled. The entire altercation was captured on video.

The woman was identified as the daughter of a "crypto boss," and her attempted kidnapping is part of a disquieting surge in European crypto-related abductions—two of which have already involved fingers being chopped off. The last major abduction happened in Paris only two weeks ago, and it ended with French police storming a house in the Paris suburbs and rescuing a crypto mogul's now-four-fingered father.

The attacks have spooked the industry, which has called, somewhat ironically, for enhanced protections from the government. Reuters notes that the issue has been escalated all the way to the top of the French government, where Interior Minister Bruno Retailleau announced plans this week to "meet with French crypto entrepreneurs to make them aware of the risks and to take measures to protect them."

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Alex Mashinsky, the founder and former CEO of the collapsed cryptocurrency lending firm Celsius, has been sentenced to 12 years in prison for fraud that led to “billions in losses,” the Department of Justice announced on Thursday.

Celsius, which held $25 billion in assets at its peak, abruptly halted withdrawals and transfers during a broader crypto crash in 2022, locking up billions in customer funds. The firm filed for bankruptcy just weeks later.

The DOJ charged Mashinsky with securities fraud in 2023, accusing him of misrepresenting Celsius’s business and finances. It also claimed Mashinsky artificially inflated the price of the platform’s token, CEL, by “spending hundreds of millions purchasing it on the open market.” Mashinsky pleaded guilty to one count of securities fraud and one count of commodities fraud last December.

Mashinsky’s arrest comes as the Trump administration takes a softer stance on crypto regulation. Last month, a memo obtained by The Washington Post revealed the disbandment of a DOJ division dedicated to investigating crypto firms. The Securities and Exchange Commission has dropped several cases against companies in crypto, including Coinbase, Kraken, and Robinhood.

“Alexander Mashinsky targeted retail investors with promises that he would keep their ‘digital assets’ safer than a bank, when in fact he used those assets to place risky bets and to line his own pockets,” US Attorney Jay Clayton said in the press release. “In the end, Mashinsky made tens of millions of dollars while his customers lost billions.”