According to Foresight News, the U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Danh C. Vo, the founder and CEO of Bitcoin mining company VBit Technologies Corp., accusing him of misappropriating approximately $48.5 million in a fraudulent investment scheme. SEC documents reveal that Vo and VBit raised over $95.6 million from around 6,400 investors, falsely promoting their Bitcoin mining business model and the intended use of funds. The SEC alleges that Vo marketed a so-called 'hosting agreement,' claiming it offered ordinary investors a way to earn passive mining income without managing equipment. However, the number of hosting agreements sold far exceeded the company's actual mining capacity. The regulatory body asserts that Vo knowingly or recklessly made misleading statements to investors. Additionally, the SEC disclosed that Vo transferred about $5 million to his family and former spouse and left the United States in November 2021. The SEC has charged him with unregistered securities offerings and fraud. VBit was acquired in 2022, and its related mining operations have since ceased.

According to Onchain Lens monitoring, a newly created wallet (0x1138...31C9) received 30,075 ETH from FalconX, worth $88.31 million. This wallet likely belongs to Bitmine.

Canadian citizen Jarett Dunn has been sentenced to six years in prison by a London judge for a $2 million Solana fraud case. He had previously pleaded guilty to abuse of power fraud and transfer of criminal property. The court stated that the former Pump.fun employee had been under electronic tagging for 308 days, 154 of which would count towards his sentence. He was also remanded in custody for approximately five months, which typically counts automatically. This sentencing comes more than a year after Dunn stole approximately $2 million worth of Solana (SOL) from Pump.fun, the now-popular Meme coin platform where he worked. Instead of keeping the money for himself, Dunn distributed the funds to thousands of random addresses. He then immediately confessed to the crime on social media. As a result, the Canadian gained a large following, with fans calling him the "Crypto Robin Hood." Dunn's path to sentencing was not smooth, with multiple postponements and recesses. This included Dunn's attempt to characterize the attack as a whistleblower action, claiming that Pump.fun was a malicious website and that he was trying to warn people about it. However, with the verdict delivered, the judge appeared to disagree with this argument. Pump.fun was a platform that allowed anyone to create cryptocurrency tokens in seconds after filling out a short form. Before the incident, Dunn had been a senior developer at Pump.fun for six weeks, during which time the platform, while popular, was still in its early stages. According to Dune data, Pump.fun's cumulative revenue at the time was $43.9 million, a figure that has since skyrocketed to $927.2 million. Dunn's friend, Mark Kelly, who attended the trial, called the verdict "frustrating." Kelly told Decrypt that prosecutors dismissed the whistleblower's claims as "post-arrest rhetoric." He added that while he thought Dunn's lawyers were "terrible," Dunn ultimately allowed the prosecution to "get away with it easily" due to his confessions on social media. "Everyone calm down, this is a robbery... I'm about to change history. Then go rot in jail," Dunn wrote on the X platform minutes after the attack. “Am I sane? No. Am I okay? Very bad.” He then joined an X Spaces group, stating he wanted to “kill” Pump.fun “because it’s something to do.” He further claimed, “It unintentionally hurt people for a long time.” Kelly added that the judge “fully considered” this in his sentencing. Four days after the attack, Dunn was arrested at a London hotel not far from the WeWork office operated by Pump.fun, where he was during the attack. Dunn was immediately deemed unfit for police questioning and spent two weeks in hospital to improve his mental health, after having stopped taking medication for several months. Dunn then pleaded guilty in August 2024, but attempted to withdraw his guilty plea at a sentencing hearing two months later. This abrupt change led to the resignation of his legal team. The Canadian citizen then spent months under police surveillance searching for a new legal team. He was imprisoned in July 2025 for breaching his bail conditions, and subsequently pleaded guilty again in August. Since then, he has been awaiting sentencing at HMP Pentonville jail, communicating with his followers through his X account operated by a so-called "intern." On Thursday, Dunn was sentenced to two six-year prison terms, to be served concurrently, for fraud and transferring criminal property. He has not yet issued a statement through his "intern," but Dunn had previously stated his desire to be immediately deported back to Canada. However, this has not been the case, and Dunn remains in custody in London. (decrypt)

Jarett Dunn, a former developer at Pump. fun, drained $2 million from his then-employer and sent funds to random addresses. source: https://decrypt.co/352876/former-pump-fun-dev-sentenced-six-years-prison-2-million-solana-fraud

The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Danh C. Vo, founder and CEO of Bitcoin mining company VBit Technologies Corp., accusing him of misappropriating approximately $48.5 million in a fraudulent investment project. SEC filings show that Vo and VBit raised over $95.6 million from approximately 6,400 investors, falsely describing the Bitcoin mining business model and the use of funds in their promotional materials. The SEC states that Vo promoted so-called "custody agreements" to investors, claiming they offered ordinary investors a solution for passively earning mining rewards without managing equipment, but in reality, the number of custody agreements sold far exceeded the scale of the company's actual mining operations. The regulator believes that Vo knowingly or disregarded the facts and continued to make misleading statements to investors. Furthermore, the SEC disclosed that Vo transferred approximately $5 million to his family and former spouse and left the United States in November 2021. The SEC filed charges of unregistered securities offering and fraud against him. VBit was acquired in 2022, and its mining operations have ceased. (The Block)

The SEC charged Danh C. Vo, founder and CEO of a bitcoin mining business called VBit, on Wednesday, according to a complaint. source: https://www.theblock.co/post/383176/sec-charges-bitcoin-mining-firm-vbit-ceo-involving-48-5-million-misappropriated-in-bogus-investment-deals?utm_source=rss&utm_medium=rss

Several Kaito Kickstarter projects, including Play AI and Bitdealer, have seen dramatic drops in their valuations after token generation events, raising questions about the sustainability of early-stage crypto alpha. source: https://cryptonews.com/news/kaito-kickstarter-projects-crash-post-tge/

Bitcoin traded around the $88,000 level on Wednesday, showing modest short-term recovery after a volatile period marked by heavy liquidations […] The post Bitcoin Price Rebounds Above $88K as Liquidations Hit $600M and Gold Draws Capital appeared first on Coindoo. source: https://coindoo.com/market/bitcoin-price-rebounds-above-88k-as-liquidations-hit-600m-and-gold-draws-capital/

Crypto exchange Coinbase has appointed former UK finance minister George Osborne as chair of its Global Advisory Council. source: https://www.coinspeaker.com/uks-former-finance-minister-george-osborne-joins-coinbase/

Crypto analyst Taiki Maeda has opened a $1 million short on Ethereum (CRYPTO: ETH), arguing its recent strength is driven by artificial, incentive-led buying rather source: https://www.benzinga.com/crypto/cryptocurrency/25/12/49480420/ethereum-bear-who-made-500000-shorting-eth-now-bets-1-million-against-it?utm_source=cryptopanic.com&utm_campaign=partner_feed&utm_medium=referral

Vaults are one of the concepts in the cryptocurrency world that everyone thinks they understand, mainly because they seem simple and easy to understand.

Jinse Finance launches the "Jinse Web3.0 Daily," providing you with the latest and fastest news on MEME, DeFi, DAO, NFT, and the metaverse industry.

"The future of finance is on Coinbase. All in one app," Coinbase states in just two short sentences, outlining its vision for 2026 and beyond.

Recommended reading tonight: 1. Looking Back at 2025: 18 Milestones in the Crypto Industry; 2. Ethereum Foundation: Ethereum State Evolution Path and Future Challenges; 3. Post-Election Prediction Markets: How to Re-accelerate in 2025;

Caroline Ellison, the former CEO of Alameda Research and ex-girlfriend of FTX founder Sam Bankman-Fried, has been quietly transferred out of federal prison after serving approximately 11 months of her two-year sentence, according to Business Insider.

OpenAI is in early talks to raise up to $100 billion at a valuation of $750 billion. The company is also preparing for a public listing that could value it at around $1 trillion.

Ethereum has grown from a small, experimental network into a key component of the global infrastructure.

Despite strong momentum in 2025, prediction market trading volume still represents only a small fraction of the overall sports betting industry.

Capital A, the parent company of AirAsia, and Standard Chartered Malaysia signed a letter of intent to develop a ringgit-backed stablecoin. The project will be piloted under Bank Negara Malaysia’s oversight, with Standard Chartered as issuer and Capital A testing wholesale use cases.

A Singapore-based entrepreneur has fallen victim to a sophisticated crypto malware scam, losing over $14,000 in digital assets after downloading a seemingly legitimate online game launcher.