Aleksei Andriunin, the founder of cryptocurrency firm Gotbit, has been indicted in the US for alleged involvement in a conspiracy to manipulate cryptocurrency markets. The Justice Department claims that Andriunin and his firm provided market manipulation services to increase artificial trading volumes for various cryptocurrency companies from 2018 to 2024.
The superseding indictment also names Gotbit’s directors, Fedor Kedrov and Qawi Jalili, who were already charged earlier in October. Prosecutors allege that these actions aimed to distort the cryptocurrency markets, with several companies, including some in the United States, reportedly benefitting from these tactics.
If convicted, Andriunin faces significant penalties, with wire fraud charges carrying a potential 20-year prison sentence. He could also face an additional five years for conspiracy charges. The allegations form part of a larger crackdown on crypto market manipulation, which has already led to several arrests and asset seizures worth $25 million.
Recent moves by federal prosecutors highlight a more aggressive stance on crypto-related fraud. They have targeted multiple firms, including Gotbit, and several leaders have already agreed to plead guilty. The crackdown aims to strengthen transparency and curb malpractice in the cryptocurrency market.
A US federal appeals court has expressed doubts over the Federal Communications Commission’s authority to reinstate net neutrality rules. A three-judge panel of the 6th Circuit Court in Cincinnati heard arguments from the telecom industry, which claims the FCC exceeded its powers by reintroducing the rules. Initially implemented under the Obama administration, net neutrality was later repealed by the Trump administration before being revived under President Joe Biden.
Net neutrality regulations prevent internet service providers (ISPs) from blocking or slowing access to websites and prohibit paid prioritisation arrangements that favour some content over others. The FCC’s April decision to classify broadband as a telecommunications service has drawn significant opposition from major telecom firms, while receiving backing from tech giants like Amazon, Apple, and Google. However, the 6th Circuit has temporarily blocked the rules’ enforcement while the legal challenge proceeds.
Central to the case is whether Congress granted the FCC sufficient authority to make sweeping regulations on internet services. The telecom industry argues that the ‘major questions’ doctrine, a judicial principle requiring clear congressional authorisation for significant regulatory action, should apply. Industry lawyer Jeff Wall contends that Congress should decide the matter, not an agency acting independently.
The judges also debated the FCC’s evolving stance on broadband regulation over recent administrations. Judge Griffin questioned whether frequent policy shifts weakened the FCC’s case, while Judge Kethledge urged a focus on statutory text rather than broad doctrines. A ruling on the matter could significantly impact the regulatory landscape for ISPs and the future of net neutrality.
Nishad Singh, former chief engineer at FTX, avoided prison after cooperating in the fraud investigation that led to the conviction of FTX founder Sam Bankman-Fried. The judge granted Singh three years of supervised release, crediting his detailed testimony, which helped expose fraudulent activities at FTX. Singh, once a billionaire on paper, admitted to participating in the scheme but has since expressed deep regret for his involvement.
Singh testified last year about the theft of billions in customer funds, revealing his role in concealing transactions and supporting Bankman-Fried’s political donations. Reflecting on his actions, he told the court of his remorse for betraying his values and causing harm. Defence lawyers argued for leniency, noting Singh’s limited role compared to Bankman-Fried and other executives.
Judge Kaplan praised Singh’s swift cooperation, emphasising the difficulty of his decision to implicate himself in such a high-profile case. Despite being part of FTX’s inner circle, Singh’s cooperation and openness about the crime were acknowledged by the court as significant contributions to the investigation.
Singh’s leniency contrasts with Bankman-Fried’s 25-year sentence, imposed after FTX’s collapse in November 2022. Another executive, Caroline Ellison, received a two-year sentence despite her cooperation. The case highlights the court’s complex approach to sentencing as former FTX associates face accountability in one of the largest crypto frauds to date.
Australia’s competition regulator, the ACCC, has filed a lawsuit against Optus, owned by Singapore Telecommunications, for alleged ‘unconscionable’ conduct in selling mobile phones and plans to vulnerable consumers. The ACCC claims that the company’s actions impacted around 429 customers, with a significant portion of these sales conducted at three stores in Darwin and Mount Isa. According to the ACCC, Optus financially benefited from these practices, which were reinforced by sales staff incentives.
ACCC Chair Gina Cass-Gottlieb stated that Optus allegedly prioritised its own financial interests by clawing back commissions from sales staff but failed to remedy affected customers. The regulator seeks penalties, consumer redress, compliance measures, and court costs in the case.
Optus Interim CEO Michael Venter responded, confirming that disciplinary measures, including terminations, had been taken against implicated staff. Optus is also refunding affected customers, waiving outstanding debts, and allowing them to keep the devices they received.
The Cybersecurity and Infrastructure Security Agency (CISA) has announced its first International Strategic Plan for 2025-2026, underscoring a robust commitment to securing US critical infrastructure (CI) through global partnerships. Building on its previous 2023-2025 Strategic Plan, this new approach aligns with the National Security Memorandum on Critical Infrastructure Security and Resilience, highlighting the essential role of international cooperation in protecting interconnected cyber and physical systems.
To achieve its mission, CISA has outlined three primary goals for international engagement:
Bolster the Resilience of Foreign Infrastructure on Which the US Depends: Collaborating with foreign partners, CISA aims to fortify international infrastructure, mitigating risks that could disrupt critical US operations.
Strengthen Integrated Cyber Defense: By sharing expertise, resources, and best practices, CISA and its allies can build a unified defence, equipping nations to address emerging threats to critical infrastructure better.
Unify Agency Coordination of International Activities: The agency’s “One CISA” approach seeks to streamline efforts and maximise the impact of global partnerships, reducing redundancy and fostering cohesive international collaboration.
Microsoft took the unusual step of publicly accusing Google of conducting ‘shadow campaigns’ in Europe to undermine Microsoft’s reputation with regulators. According to a blog post by Microsoft lawyer Rima Alaily, Google allegedly hired the advisory firm DGA Group to organise the Open Cloud Coalition, enlisting European cloud companies to act as a front while Google finances and directs its operations. The coalition, recently launched, purports to advocate for a ‘fair, competitive, and open cloud industry’ across Europe.
Alaily claims this is part of Google’s pattern of targeting Microsoft, citing Google’s involvement in the Coalition for Fair Software Licensing and a separate effort to sway Cloud Infrastructure Services Providers in Europe with significant financial offers to oppose Microsoft’s proposed antitrust settlement. The conflict adds fuel to the rivalry between the two tech giants, who already compete intensely across cloud infrastructure, online advertising, AI, and productivity software.
In response, a Google spokesperson noted that Microsoft’s cloud licensing practices create vendor lock-in, potentially stifling competition, cybersecurity, and innovation. Hours after Microsoft published accusations, the Open Cloud Coalition formally announced its formation, listing Google as a member and calling on European authorities to intensify scrutiny on cloud competition issues. In September, Google said it was filing a complaint against Microsoft with the European Commission over what Google considers unfair practices for licensing the Windows Server operating system.
De Nederlandsche Bank (DNB), the Netherlands’ central bank, has fined crypto exchange Bybit €2.2 million ($2.4 million) for operating in the country without the required registration. Bybit’s non-compliance with the Anti-Money Laundering and Anti-Terrorist Financing Act triggered the fine, as the exchange had not registered to support oversight and prevent illicit financial flows. The legislation, enacted in 2020, mandates that crypto providers register to reduce risks tied to anonymous transactions.
DNB stated that Bybit’s non-compliance hindered its ability to report suspicious transactions to Dutch authorities, a critical component of financial oversight. Although DNB acknowledged the severity and duration of the breach, it reduced the fine due to Bybit’s efforts to resolve the issue by transferring Dutch customers to local partner SATOS B.V., which holds a compliant operating licence.
Acknowledging the fine, Bybit underscored its commitment to regulatory adherence. CEO Ben Zhou highlighted Bybit’s actions in 2022 to mitigate potential risks, affirming the company’s goal of responsible growth through close cooperation with European regulators.
Russia has slapped Google with an astronomical fine of $20 decillion, or 2 undecillion rubles, over the tech giant’s removal of Russian state-backed TV channels from YouTube. This 33-digit penalty, which has been mounting for four years since the initial court case in 2020, far exceeds Google’s entire market value and dwarfs even the global GDP, which stands at around $110 trillion.
Legal experts note that such an enormous fine is largely symbolic. Roman Yankovsky from the HSE Institute of Education explained that Russia has no real way to enforce this penalty internationally, as Google’s market cap sits at just over $2 trillion. The original case stemmed from YouTube’s ban of the Russian channel Tsargrad, following US sanctions imposed on the channel’s parent company.
While Google hasn’t commented, analysts view the fine as part of Russia’s broader pushback against Western tech companies and their content policies.
The European Commission is preparing to investigate Chinese online retail giant Temu for possibly breaching rules designed to curb illegal product sales, according to sources cited by Bloomberg News. The inquiry follows an initial request from the Commission on 11 October for Temu to outline its efforts to prevent illegal items from being sold on its platform under the EU’s Digital Services Act (DSA).
Temu, a unit of PDD Holdings, has been classified as a ‘very large online platform’ (VLOP) by the EU, a designation that requires strict compliance with measures to counteract illegal content and counterfeit goods. While Temu submitted its response to the EU’s information request by the 21 October deadline, the Commission will determine its next steps after reviewing the data provided. Neither the European Commission nor Temu has commented on the impending investigation.
The Digital Services Act mandates platforms with more than 45 million users to ensure they are taking adequate steps to combat illegal content. The outcome of this investigation could have significant implications for both Chinese, Temu and other online marketplaces operating within the EU.
Shivaun and Adam Raff, founders of the now-closed price comparison site Foundem, recently concluded a 15-year legal battle against Google, which resulted in a record-breaking €2.4bn (£2bn) fine against the tech giant. The dispute began when Foundem’s online visibility plummeted due to a Google penalty shortly after the site’s 2006 launch. The Raffles believed it was an error but later suspected Google was deliberately pushing their site lower in search results to favour its own shopping services.
Following years of appeals, the European Court of Justice ruled against Google in 2024, upholding the European Commission‘s 2017 decision that Google had abused its market dominance by demoting competing shopping services. Although Foundem’s closure in 2016 made the victory bittersweet, the case has had lasting regulatory implications, prompting the European Commission to investigate Alphabet, Google’s parent company, for ongoing anti-competitive practices under the Digital Markets Act.
The Raffs, whose site once allowed users to compare a wide range of products, fought for years with little initial success, escalating the case to regulators in Brussels in 2010. Google argued its changes since 2017 comply with the EU ruling and benefit hundreds of price comparison sites, but the Raffs maintain that Google’s practices continue to stifle competition.
The couple’s legal journey has taken a toll, but they are still pursuing a civil damages claim against Google, scheduled for 2026. Their fight is seen as a pivotal moment in Big Tech regulation, underscoring their determination to challenge anti-competitive behaviour.
