NFT News Today TheBittimes.com

Founder and former CEO of Binance, Changpeng Zhao, has for the past week been locked in a war of words and threats with Massachusetts Senator Elizabeth Warren. The back and forth has the senator referring to the cryptocurrency entrepreneur as a “money launderer” and suggesting, “If Congress does not stop this kind of corruption (the pardoning of financial criminals), it owns it.” Meanwhile, a lawyer for Zhao told the New York Post, “Mr. Zhao respectfully immediately requests the retraction of these false statements, both within the resolution and on X,” adding, “Mr. Zhao reserves his right to pursue all legal remedies available to address these false statements.” CZ pleaded guilty to a criminal money laundering charge and was sentenced to prison. But then he financed President Trump’s stablecoin and lobbied for a pardon. Today, he got it. If Congress does not stop this kind of corruption, it owns it. pic.twitter.com/NsWeaJcVeK — Elizabeth Warren (@S...

U.S. officials will seize money from victims of bankrupt crypto firm FTX Trading Ltd. unless a judge rejects the government’s demand for $24 billion in unpaid taxes. The Internal Revenue Service (IRS) must substantiate its claim against FTX and show how it assessed the taxes it owes, FTX lawyers said in a new filing. The move is the latest in a months-long dispute between the IRS and FTX’s bankrupt cy estate over how much the failed exchange and its affiliates owe the government in unpaid taxes. While FTX claims it owes nothing to the IRS, the agency wants as much as $24 billion, more than three times the amount the estate currently has, to try to repay creditors. You might also like: FTX unveils revised reorganization plan, sets mid-December court submission “This Alice in Wonderland argument has no support in the law.” FTX filing The IRS initially said FTX owed even more money, filing initial claim s in April for about $44 billion. In September, that amoun...