A federal judge said there was “probable cause” to believe that SBF engaged in activities that could land him in jail until his trial in October.

Despite the minting of $50 million in TUSD, Zhao previously said the regulatory crackdown on stablecoins in the U.S. will cause the USD-back stablecoin market to “shrink.”

Falling crypto prices caused crypto scam revenue to plummet in 2022, but two scam types managed to persist.

Zero-knowledge proofs, decentralized identifiers and more could help DeFi protocols maintain regulatory compliance without exposing their users.

“We allege that Terraform and Do Kwon failed to provide the public with full, fair, and truthful disclosure as required for a host of crypto asset securities,” said SEC chair Gary Gensler.

The market maker is used to swap stable coins on the Avalanche blockchain; it has a total locked value of $46 million, according to DefiLlama.

The attack has led to the de-pegging of the Platypus USD stablecoin, which fell to $0.48 from $1.

The judge reportedly did not expand SBF’s bail conditions to include restrictions on the internet or VPNs, but asked his lawyers to pay for a consultant to explore the matter.

GBBC Digital Finance is now one of over 200 affiliated members of the International Organization of Securities Commissions, which also includes 35 national regulators.

A Binance.US spokesperson reportedly said that only the exchange’s employees had access to its accounts, seemingly including any at Silvergate Bank.