The US SEC Charges Texas Man in $12.3 Million Crypto Scam
On May 30, the U.S. Securities and Exchange Commission (SEC) announced a lawsuit against Texas resident Nathan Fuller, accusing him of orchestrating a cryptocurrency fraud scheme that raised roughly $12.3 million from about 150 investors.
From October 2022 through mid-2024, Fuller marketed investment products to investors via entities including Privvy Investments, falsely claiming he used a proprietary AI trading bot for high-frequency cryptocurrency arbitrage.
Per the SEC’s complaint, Fuller promised investors returns of 40% to 50% within 30 to 45 days, and even guaranteed payouts of over 100% in as little as 21 days. The SEC alleges the AI bot never worked as advertised: Fuller misappropriated at least $6.2 million of investor funds for personal expenses, directed around $5.5 million to Ponzi-style payouts, and misled investors with doctored account statements and fake documents.
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Jim Cramer: Dell's Strong Earnings Report Once Again Validates AI Demand, NVIDIA Still the Best Play in AI
May 30 — Former hedge fund manager and CNBC host Jim Cramer says Dell’s latest financial results have reaffirmed his bullish outlook on Nvidia. Fueled by strong demand for AI servers and data center infrastructure, Dell’s stock surged 30% on Friday, putting it on track for its best single-day performance ever. Cramer calls Nvidia a key partner in Dell’s AI strategy and the most attractive investment play in the current AI infrastructure boom. “This is the stock to buy,” he stated. He adds that Nvidia remains the best way to bet on AI development, and expects next week’s Taipei Computer Show (Computex) will bring further signals about next-generation AI demand from industry leaders like Nvidia’s Jensen Huang.
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Former Celsius CEO Applies to Overturn 12-Year Sentence, Accuses SBF of Attempting to Destroy Celsius
On May 30, former Celsius CEO Alex Mashinsky filed a motion in a New York state court seeking to overturn his 12-year prison sentence, alleging his defense attorney provided ineffective assistance. In the filing, Mashinsky cited the "fruit of the poisonous tree" legal doctrine to argue that the evidence used to convict him was flawed. He stated he was forced to submit the filing pro se—representing himself in court—after his lawyer stopped communicating with him.
The accompanying court documents include additional accusations: Mashinsky claims former FTX CEO Sam Bankman-Fried sought to "destroy Celsius" and manipulated the CEL token market through FTX. He also accused former Celsius Chief Revenue Officer Roni Cohen-Pavon of attempting a "hostile takeover" of the crypto firm.
Mashinsky was originally sentenced in 2025 for commodities and securities fraud, ordered to pay $48 million in criminal forfeiture plus a $10 million civil settlement.
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HypeStrat Leads Cryptofund Companies with Over $1 Billion in Unrealized Gains, While BitMine Ranks at the Bottom with Over $8 Billion in Unrealized Losses
May 30: HYPE surged above $65 to a new all-time high. Hyperliquid’s financial arm HypeStrat has surpassed $1 billion in unrealized gains from its HYPE holdings—making it the largest such figure among all Decentralized Autonomous Treasuries (DATs). Conversely, Ethereum-focused treasury firm BitMine (BMNR) has racked up over $8 billion in unrealized losses, the highest of any crypto treasury firm globally.
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SEC Chair: Actively Advancing Project Crypto with CFTC to Support US as Global Crypto Hub
May 30, 2026 – U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins told attendees at the 2026 Reagan National Economic Forum that the SEC is actively working to advance former President Trump’s goal of “Making America the Global Cryptocurrency Hub.” The agency is partnering with the Commodity Futures Trading Commission (CFTC) to move forward on Project Crypto, an effort to strengthen the regulatory framework for the decentralized finance (DeFi) market.
Atkins explained the SEC has issued guidance to clarify digital asset classification, specifying exactly which digital assets count as securities and which do not. The regulator is also progressing on an Innovation Exemption for tokenized securities, as well as studying how to integrate on-chain trading systems into the existing regulatory structure.
He pointed out that the prior U.S. regulatory environment was hostile toward the digital asset industry, leading to major innovation and companies relocating abroad. Now, th
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