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A UK man dubbed the ‘El Chapo of the Cotswolds’ is facing 120 years in prison after a court ruled he can be extradited to the US to face charges of running an illegal drugs ring that has allegedly raked in more than $6 million in Bitcoin . Matthew Grimm was charged with five counts of drug charges and one count of money laundering for his alleged role in a multimillion-pound drug racket selling designer amphetamines to US customers. The 49-year-old allegedly ran the operation alongside two accomplices for over 10 years, transporting drugs from the Netherlands using online marketplaces such as ‘Smokeyschemsite.’ US authorities reportedly froze £5.2 million ($6.5 million) worth of bitcoin connected to his alleged drug proceeds.  Grimm was arrested in 2022 and given the green light for extradition by the country’s then-Home Secretary. He later appealed his US extradition, telling prosecutors to ‘bring it on,’ before, as reported by the Mirror, a High Court judge ruled again...

Coinbase has presented a report on the role of tokenization in the new market cycle. Experts believe that in the next few years, tokenization will become an integral part of the market and will be used by many financial players. According to Coinbase analysts, in 2017, tokenization meant the creation of digital assets representing ownership of real estate, goods and art on the blockchain. Over time, the scope of tokenization has expanded to government bonds and funds. Coinbase adds that this area also faces a number of infrastructure and legal problems. Most institutions rely on private blockchains due to concerns about smart contract exploits, oracle manipulation and network outages. However, in the future, this could make it more difficult to interact and realize the full benefits of tokenization , experts said. Source: Coinbase Experts reported that over the past year, the direction of development of real asset (RWA) tokenization has shifted from private lending protocols...

32-year-old New York man James Charles Rivera was sentenced to 96 years in a federal prison for selling steroids for crypto on a deep web black market. A press release published by the United States Department of Justice (DoJ) on Aug. 21 reveals that Rivera and his collaborators reportedly distributed anabolic steroids including Anadrol, Testosterone, Mesterolone, Halotestin and others under the “JuicePal” nickname. The DoJ said Rivera “took in millions of dollars in virtual currency and cash as proceeds from thousands of sales.” In February, Rivera plead guilty to conspiracy to distribute controlled substances and conspiracy to launder monetary instruments. In his plea agreement he admitted that he and his accomplices processed thousands of orders and received at least nearly 451 Bitcoin (BTC) — equivalent to nearly $11.75 million as of press time You might also like: Deep web darknet market administrator pleads guilty in US In addition to selli...