Two more firms, Jump Crypto and Jane Street, have reportedly decided to limit their presence in the crypto market. The two firms cited regulatory crackdowns as their reason for moving away from the crypto space.

As of 9 May, a former Coinbase product manager was sentenced to two years in prison on the charges of insider trading. Furthermore, the brother of the accused was also sentenced to 10 months in prison on the same charges.

The US arm of Bittrex Global, Bittrex Inc. filed for bankruptcy as of 8 May 2023. This move by the organization came only days after the SEC launched a lawsuit against the exchange on grounds of not registering the exchange as a national security exchange, a broker, and clearing agency.

Ripple could become the latest organization to set up shop in the UAE owing to the unclear regulatory landscape in the USA. Additionally, several exchanges have also been driven out of the country due to unfavorable rules and regulations.

Cryptocurrency exchange Binance seems to have gotten itself in trouble again. As per this latest report, the U.S. DoJ may be looking into the exchange being used as an alleged gateway to evade U.S. sanctions.

The New York Attorney General (NYAG) put forth a new proposal that aims at eliminating bad actors operating in the crypto market. The bill also aims to regulate the stablecoins and has a separate clause around the same.

On 2 May 2023, Coinbase launched its overseas crypto derivatives platform. The launch of Coinbase’s exchange came days after its competitor Gemini launched its derivatives exchange.

Poloniex, a crypto exchange, settled its ongoing case with the OFAC as of 1 May 2023. The exchange will be paying over $7 million as a fine to the law enforcement department.

Bitcoin was all sunshine when it crossed the $30k mark on 26 April again. However, the king of crypto came crashing down when it dropped by as much as 5% in just about an hour.

FTX, and its debtors announced that LedgerX is to be acquired by M7 Holdings. The announcement from the now-bankrupt exchange came on 25 April.

On 25 April, Binance U.S. terminated its deal to buy crypto exchange Voyager Digital’s assets owing to the hostile and uncertain regulatory environment in the U.S.

On 24 April, the US OFAC sanctioned three individuals in connection with the Democratic People’s Republic of Korea (DPRK). The OFAC also sanctioned various addresses, most of which were BTC addresses.