Lawrence Mondal

A U.S. federal court has resolved the CFTC’s cases against Caroline Ellison and Gary Wang by imposing five-year trading bans and registration bans of up to 10 years. The Commodity Futures Trading Commission said on Aug. 19 that the U.S. District Court for the Southern District of New York had entered supplemental consent orders against Ellison, the former chief executive of Alameda Research, and Wang, who co-founded Alameda and FTX.

Arthur Hayes has proposed allocating roughly 20% of Flop Network’s FLOP token supply to testnet participants over 10 years as part of a self-funded decentralized computing network for artificial intelligence agents. Arthur Hayes said in an Aug. 19 Substack article that Flop Network would connect AI agents seeking computing power with miners operating internet-connected hardware, using FLOP as the network’s payment and reward token.

BitGo Korea has secured VASP registration from South Korea’s Financial Intelligence Unit, becoming the first local entity owned by an overseas crypto company to complete the process directly. Yonhap News Agency reported on Aug. 20 that the Financial Intelligence Unit, an agency under South Korea’s Financial Services Commission, had accepted BitGo Korea’s virtual asset service provider registration two days earlier.