Crypto CEO Arrested For Laundering USD 530 Million From Sanctioned Russian Banks

Crypto executive Iurii Gugnin has been arrested in New York for allegedly using his companies, Evita Pay and Evita Investments, to move approximately $530 million from sanctioned Russian banks into the U.S. Prosecutors say Gugnin helped Russian clients access sensitive American technology by secretly processing transactions using the stablecoin Tether (USDT).

According to a CoinTelegraph report, the U.S. Department of Justice claims Gugnin ran the scheme from June 2023 to January 2025, helping clients linked to blacklisted banks like Sberbank, VTB, Sovcombank, and Tinkoff. He’s accused of lying to U.S. banks about Evita’s Russian ties, doctoring invoices, and ignoring anti-money laundering laws—even though the company was registered in Florida.

Gugnin reportedly searched the internet for signs he might be under investigation, which the DOJ says showed he knew what he was doing was illegal. He now faces 22 criminal counts and could be sentenced to life in prison if convicted.

SEC Considers Temporary Regulatory Relief to Support Crypto Development

The U.S. Securities and Exchange Commission (SEC) is considering a new “innovation exemption” aimed at supporting the development of onchain products and services. SEC Chair Paul Atkins presented the information at a Monday roundtable organized by the SEC's crypto task group, titled DeFi and the American Spirit.

Atkins has instructed SEC employees to investigate a conditional exemption relief structure, according to CoinTelegraph. If certain requirements are met, crypto companies might have short-term regulatory freedom. This is to help bring innovative blockchain-based products to market faster, while the SEC considers potential changes to its existing rules and regulations.

As the agency continues to engage with the changing digital asset market, the plan shows that it wants to balance innovation with oversight.

Bitcoin Investment Firm Parataxis to Go Public Through $200M SPAC Deal

Parataxis Holdings LLC, a Bitcoin-focused investment platform intends to go public by merging with SilverBox Corp IV, a $200 million SPAC listed on the New York Stock Exchange. According to the official announcement, both parties have signed a non-binding letter of intent on the planned deal.

Parataxis, an entity of Parataxis Capital Management established in 2019, provides institutional-grade digital asset investment solutions. If the deal goes well, Parataxis will go public and attract more institutional investors looking to gain exposure to Bitcoin and other cryptocurrencies.

The announcement highlights the company’s intention to position Bitcoin as a treasury and strategic asset. It also details ideas for a first company in South Korea, a market with great potential but underdevelopment for digital asset investment platforms. The planned merger illustrates the increased institutional interest in regulated cryptocurrency investment alternatives.