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Crypto mogul Do Kwon sentenced to 15 years for fraud: US media
Crypto mogul Do Kwon sentenced to 15 years for fraud: US media
Economy
by  AFP

South Korean cryptocurrency tycoon Do Kwon was sentenced to 15 years in prison Thursday over fraud linked to his company's failure, which wiped out $40 billion of investors' money and shook global crypto markets, US media reported. Kwon successfully marketed them as the next big thing in crypto, attracting billions in investments and global hype.

US Treasury chief seeks looser regulation at financial stability panel
US Treasury chief seeks looser regulation at financial stability panel
Economy
by  AFP

US Treasury Secretary Scott Bessent signaled key changes Thursday to a high-level panel on financial stability, putting more emphasis on economic growth and reduced regulation. Chaired by the Treasury secretary, it comprises representatives of top financial regulators including the Federal Reserve, the Securities and Exchange Commission, and the Federal Deposit Insurance Corporation.