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Ethereum Developer Virgil Griffith Back in Jail in the US

He is charged with helping North Korea circumvent sanctions through the use of crypto.

Updated Sep 14, 2021, 1:28 p.m. Published Jul 21, 2021, 4:33 a.m.
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Prominent Ethereum developer Virgil Griffith has been remanded in custody, Inner City Press, a public interest organization that's known for investigating the banking industry, reported Wednesday.

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  • The developer was previously charged for violating U.S. sanctions law in North Korea by assisting the Communist country in circumventing sanctions through the use of crypto.
  • U.S. prosecutors have been arguing Griffith should be returned to jail after violating his bail conditions earlier this month.
  • It is unclear whether Griffith is being remanded based on his violation of bail conditions or something else.
  • CoinDesk attempted to contact Griffith's lawyer, but has yet to receive a reply.
  • Jason Gottlieb of Morrison Cohen LLP, a lawyer not representing Griffith, previously said "it is insane to remand someone to custody for this purported bail violation. The prosecutors are being incredibly heavy-handed and punitive."

Read more: Virgil Griffith Should Return to Jail Pending Trial, Prosecutors Tell Judge

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Here's why Fed contender Kevin Warsh is seen as bearish for bitcoin

BTC drops as Kevin Warsh emerges as contender for the Fed job.

BTC fell deeper to nearly $81,000 late Thursday as Warsh's odds surged in betting markets.

Ano ang dapat malaman:

  • President Donald Trump is expected to soon announce a successor to Federal Reserve Chair Jerome Powell, with former Fed Governor Kevin Warsh emerging as a leading contender.
  • Warsh's record of prioritizing inflation risks during the global financial crisis and his bias for monetary discipline has spooked analysts and markets.
  • BTC fell deeper to nearly $81,000 late Thursday as Warsh's odds surged in betting markets.