According to Cointelegraph, prosecutors for the United States Southern District of New York (SDNY) filed a motion on September 18 opposing Mango Markets exploiter Avraham Eisenberg's request for acquittal or a new trial. The SDNY attorneys argued that the jury correctly convicted Eisenberg by evaluating substantial evidence, beginning with the prosecution's assertion that Mango perpetual swaps are subject to the Commodities Exchange Act. Federal prosecutors emphasized that Eisenberg's defense, which claimed the fraud charges were inapplicable because he did not seek to manipulate the market price of the underlying asset, was materially incorrect. They noted the jury instructions on price manipulation and asserted that the evidence strongly supported the jury’s conclusion that Eisenberg committed material fraud. The attorneys stated, 'Fraud was at the core of, and necessary to accomplish, the defendant’s scheme.' Additionally, the SDNY prosecutors dismissed the defense's jurisdiction challenge, asserting that because most key employees of Mango Markets reside in Manhattan, the Southern District of New York had the authority to try the case. The case stems from an incident on October 11, 2024, when Mango Markets was hacked, resulting in $100 million being drained from the platform and the Mango token (MNGO) plunging by 52% within 24 hours. The Mango Markets team confirmed that an exploit of a price oracle was responsible for the attack. Eisenberg later identified himself as the hacker in a social media thread, defending the exploit as 'legal open market actions,' a point his legal counsel argued at trial. In December 2024, Eisenberg was arrested in Puerto Rico and subsequently charged with fraud and market manipulation by the Federal Bureau of Investigation. He was found guilty of these charges in April 2024 and could face up to 20 years in prison if given the maximum sentence by a judge.

According to CoinDesk, German authorities have shut down 47 cryptocurrency exchanges allegedly involved in criminal activities, including money laundering. The Federal Criminal Police Office (BKA) and the German Attorney General's Office Frankfurt am Main (Generalstaatsanwaltschaft) announced the closures, citing the exchanges' failure to comply with 'know your customer' (KYC) requirements, which mandate identity and background checks on customers. The BKA's press release on Thursday highlighted that some of the affected exchanges include Xchange.cash, 60cek.org, and Baksman.com, among others. While one of the exchanges had been operational since 2012, others had launched as recently as the previous year. During the investigation, authorities seized customer and transaction data. However, they noted that prosecuting the individuals behind these activities might be challenging, as they often reside in countries where such criminal activities are tolerated or even protected. Instead of focusing on prosecution, German authorities aim to weaken the infrastructure that supports these illegal activities. Earlier this year, the BKA seized 49,857 bitcoin, valued at $2.1 billion at the time, from the operators of the privacy website Movie2k.to, which was shut down in 2013 for copyright violations. The agency sold the tokens in July, causing significant selling pressure in the global crypto markets, compounded by simultaneous repayments from the defunct bitcoin exchange Mt. Gox.

According to Blockworks, a Texas court dismissed the lawsuit filed by Consensys against the Securities and Exchange Commission (SEC) and its Chair, Gary Gensler, on Thursday night. The lawsuit, initially filed in April, included significant allegations such as the SEC's investigation into Ethereum and the issuance of a Wells notice to the company behind MetaMask. The April filing stated, 'On April 10, 2024, the SEC staff sent Consensys a ‘Wells Notice’ stating its intent to imminently recommend that the Commission bring an enforcement action against Consensys for violating the federal securities laws through its MetaMask Swaps and MetaMask Staking products.' This notice indicated that the SEC had concluded its investigation and was considering a lawsuit, although it did not guarantee that a suit would be filed. Since the April filing, the SEC has indeed filed its own lawsuit against Consensys, targeting MetaMask Swaps and claiming that Lido and Rocket Pool are unregistered securities. Judge Reed O’Connor, in his decision on Thursday, dismissed the claims regarding MetaMask’s offerings. He noted, 'Similarly, the enforcement actions do not constitute final agency actions. The Notice neither marks the consummation of the agency’s—i.e., SEC’s—decision making process nor establishes Plaintiff’s legal rights or obligations.' The claims related to Ethereum brought by Consensys were dismissed as moot, especially since the SEC announced earlier this summer that it was dropping its investigation into Ethereum while giving the green light to ether ETFs. Both Consensys and the SEC did not immediately respond to requests for comment.

According to Odaily, a Russian man has been arrested on charges of treason for allegedly sending cryptocurrency to the Ukrainian Armed Forces. Russian media reports indicate that the funds were purportedly used for purchasing weapons, ammunition, and military uniforms. The specific penalties the man may face if convicted remain unclear.

According to BlockBeats, on September 19, Kerry Craig, a global market strategist at JPMorgan Asset Management, stated in a report that the Federal Reserve has indicated a more cautious approach to the easing cycle. Craig noted that Federal Reserve Chair Jerome Powell has effectively communicated by balancing the urgency of returning to a neutral interest rate with acknowledging the relatively stable economic state.Craig added that the focus has shifted more towards an employment-first approach rather than inflation. The scale of rate cuts may be less significant than the ultimate goal, which is to lower rates by 150 basis points by the end of 2025 and adjust the policy rate closer to the Fed's neutral view by 2026. Craig mentioned that if nominal growth and the easing cycle remain stable, both stocks and bonds should benefit.

According to PANews, ExTwitter, formerly known as Twitter, has managed to bypass a ban in Brazil by utilizing Cloudflare's content delivery network (CDN). This move comes after the platform was blocked by an order from Brazil's Supreme Court Justice Alexandre de Moraes for failing to comply with government directives. By leveraging Cloudflare's dynamic IP system, ExTwitter has temporarily made it more challenging for the ban to be enforced. However, it is anticipated that Cloudflare will soon receive a court order to block Brazilian IPs from accessing the platform.

According to Cointelegraph, the government of Louisiana has made a significant move by accepting its first-ever cryptocurrency payment. State Treasurer John Fleming announced that residents now have the option to pay for state services using Bitcoin (BTC), the Bitcoin Lightning Network, and the US dollar-pegged stablecoin USD Coin (USDC). This development marks a new era for the state, embracing digital currencies for public transactions.The inaugural crypto payment was processed for a fine directed to the Louisiana Department of Wildlife and Fisheries via Bitcoin’s Lightning Network. Fleming highlighted that this initiative is a result of collaboration between the state, Bead Pay, and other integration partners. He emphasized that this move aims to reduce fraudulent transactions and modernize government systems to align with the digital age.Fleming stated, “By introducing cryptocurrency as a payment option, we’re not just innovating; we’re providing our citizens with flexibility and freedom in interacting with state services.” He also assured that the state would receive the payments in fiat currency, as the service converts crypto payments into US dollars, thus mitigating previous concerns about accepting cryptocurrency.Republican State Representative Mark Wright, who led the effort for the state to accept crypto, expressed his enthusiasm about the expanded payment options. Wright had established a digital assets working group in May 2022, which concluded that cryptocurrency would be a viable form of payment. He also spearheaded a 2021 Louisiana House resolution that recognized the contributions of Bitcoin’s anonymous inventor, Satoshi Nakamoto, to economic security.In addition to accepting crypto payments, Louisiana has also taken legislative steps regarding digital currencies. In June, the state amended its laws to ban central bank digital currencies (CBDCs) and set regulations for crypto miners and node operators. The legislation prohibits the state from participating in tests for, accepting, or requiring payments using a CBDC, but it does not ban other forms of digital currency payments.

According to Odaily, a research report from China International Capital Corporation (CICC) indicates that the Federal Reserve's recent decision to implement a more aggressive 50 basis point rate cut was unexpected. The monetary policy statement highlighted that recent inflation data has given policymakers increased confidence in achieving the 2% inflation target. This move suggests that the Fed's response function has shifted from focusing solely on inflation to prioritizing employment. The report interprets this as a signal that the Fed has a low tolerance for rising unemployment and that officials are unwilling to jeopardize the prospects of a 'soft landing' for the economy. Based on statements from Fed Chair Jerome Powell, the report suggests that any unemployment rate exceeding 4.4% could trigger further rate cuts. This indicates that the Fed will maintain a dovish stance until labor market data stabilizes. Looking ahead, the likelihood of a soft economic landing in the short term has increased due to the Fed's more substantial rate cuts.

According to BlockBeats, on September 19, the U.S. S&P 500 index futures rose by 0.85% during the Asian trading session. Additionally, Nasdaq futures increased by 1.3%, and Dow Jones futures saw a rise of 0.51%.In other markets, Japan's Nikkei 225 index opened higher by 1.6%, while the TOPIX index also opened with a gain of 1.4%.

According to Blockworks, the Securities and Exchange Commission (SEC) announced a settlement on Wednesday with crypto lending startup Rari Capital and its co-founders Jai Bhavnani, Jack Lipstone, and David Lucid. The settlements, which are subject to court approval, do not disclose a financial sum. The SEC alleges that the co-founders misled investors by claiming that the Earn pools would automatically and autonomously rebalance their crypto assets into the highest yield-generating opportunities available. In reality, the rebalancing mechanism often required manual input, which Rari Capital sometimes failed to initiate. Additionally, the project claimed that investors would receive a higher annual percentage yield without disclosing fees that would reduce the initial yield. The SEC also alleges that Rari Capital and its co-founders engaged in unregistered broker activity through their operation of the Fuse platform. The founders and Rari Capital, without admitting or denying the investigation’s findings, settled with the SEC. They consented to the entry of final judgments ordering various forms of relief, including permanent injunctions, conduct-based injunctions, civil penalties, disgorgement with prejudgment interest, and equitable officer-and-director bars against the co-founders for a period of five years. The court has not yet signed off on the settlements. Rari also agreed to a cease-and-desist order from the SEC regarding the broker registration, with the caveat that the team neither admitted to nor denied the findings. The protocol, alongside Fei Capital (the two merged back in 2021), was exploited for $80 million two years ago. Fei offered a $10 million bounty to retrieve the assets taken by the hackers.

According to BlockBeats, on September 19, market data revealed that spot gold prices continued their upward trend, reaching $2,600 per ounce. This surge follows the Federal Reserve's first interest rate cut of 50 basis points, marking a historic high for gold prices.

According to Odaily, Federal Reserve Chair Jerome Powell emphasized the overall strength of the economy and the commitment to maintaining robust economic development. Today, the Federal Reserve has reduced the extent of its policy tightening. Powell stated that today's decision reflects growing confidence in the sustained strong performance of the labor market. He noted that the labor market has cooled from its previous overheated state. Additionally, consumer spending has shown resilience.

According to Odaily, analyst Anst has highlighted that the economic outlook suggests a scenario of a soft landing. Policymakers have projected a median growth rate of 2% for this year, next year, as well as for 2026 and 2027. Inflation is expected to return to target levels by next year, with forecasts indicating it will be at 2.1% by the end of 2025 and 2% in 2026.

According to BlockBeats, on September 19, the Federal Reserve released a statement from the Federal Open Market Committee (FOMC) indicating increased confidence in achieving its 2% inflation target. The statement highlighted that the risks to employment and inflation goals are balanced. Economic activity is described as 'steadily' expanding, with a slowdown in job growth and a slight increase in the unemployment rate, which remains low.

According to Odaily, the Federal Reserve's Federal Open Market Committee (FOMC) has removed a significant phrase from its latest statement. The phrase, which previously indicated that it would be inappropriate to lower the target range for interest rates until there was greater confidence in inflation moving towards the 2% target, has been omitted.This language change suggests a potential shift in the Federal Reserve's approach to managing inflation and interest rates. The removal of this phrase could indicate a more flexible stance on monetary policy, allowing for adjustments based on evolving economic conditions rather than a strict adherence to the 2% inflation target.Market analysts and investors are closely monitoring this development, as it may signal future changes in the Federal Reserve's policy direction. The omission of the phrase could lead to increased speculation about the timing and magnitude of potential interest rate adjustments.The Federal Reserve's decision to alter its communication strategy comes amid ongoing economic uncertainties and varying inflationary pressures. By not explicitly tying interest rate decisions to the 2% inflation target, the FOMC may be seeking to provide itself with greater flexibility to respond to a range of economic scenarios.Overall, the removal of this key phrase from the FOMC statement marks a notable shift in the Federal Reserve's messaging and could have significant implications for future monetary policy decisions.

According to Odaily, the Federal Reserve has announced a decision to lower the upper limit of the interest rate to 5% as of September 18, down from the previous 5.50%. The expected rate was 5.25%. The Fed's dot plot indicates that the median federal funds rate is projected to be 4.4% by the end of 2024, a decrease from the previous forecast of 5.1%. This marks the first rate cut by the Federal Reserve, leading to a short-term increase in spot gold prices by nearly $20 and a 40-point drop in the U.S. dollar index (DXY). The Federal Open Market Committee (FOMC) statement noted that the risks to employment and inflation targets are balanced.

According to Odaily, the Federal Reserve has initiated a rate cut cycle, reducing the federal funds rate by 50 basis points to a range of 4.75% to 5.00%. This marks the first rate cut since March 2020.

According to Odaily, the U.S. Federal Trade Commission (FTC) has announced that GameStop CEO Ryan Cohen will pay a fine of approximately $1 million for violating antitrust laws. This decision comes as part of the FTC's ongoing efforts to enforce regulations aimed at maintaining fair competition in the market. The fine imposed on Cohen underscores the regulatory body's commitment to addressing antitrust issues and ensuring that corporate practices do not hinder market competition. The FTC's action against Cohen is a significant reminder to corporate leaders about the importance of adhering to antitrust laws and the potential consequences of violations. This development is expected to have implications for GameStop and its leadership, as the company navigates the repercussions of the fine and works to comply with regulatory standards. The FTC's decision highlights the broader regulatory landscape in which companies must operate, emphasizing the need for vigilance and compliance with antitrust regulations.

According to PANews, Richard Schueler, also known as Richard Heard or Richard Heart, the founder of Hex and PulseChain, is currently under criminal investigation in Finland for serious tax evasion and assault charges. Finnish police suspect Schueler of significant tax evasion and assault. On September 13, Schueler was detained in absentia, indicating he was not present at the time. Authorities are currently unaware of his whereabouts. Last summer, the U.S. Securities and Exchange Commission (SEC) accused Schueler of illegally raising over $1 billion through three unregistered cryptocurrency offerings. The regulatory body also charged him with defrauding investors of $12.1 million.