Samourai Wallet Scandal: Feds Allegedly Hid Treasury Guidance Before Filing Charges

By: crypto economy|2025/05/06 22:30:02
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TL;DRSamourai Wallet’s lawyers accused prosecutors of hiding crucial information from the company’s case for over a year.FinCEN stated that, since the company did not control users’ private keys, Samourai Wallet should not be classified as a money transmitter.The defense requested a hearing to clarify the omission and seek the dismissal of the charges.Samourai Wallet’s founders’ lawyers recently denounced that federal prosecutors withheld crucial information for more than a year in the case against the company.According to a letter sent on May 5 to a Manhattan court, the legal representatives of Keonne Rodriguez and William Hill claimed that the Department of the Treasury, through FinCEN, had informed prosecutors that Samourai Wallet likely did not require a license as a money services business. However, this information remained undisclosed until April 2025, long after the charges had been filed.A Malicious Omission?Authorities charged the executives in February 2024 for allegedly operating an unlicensed money transmission platform and conspiring to launder funds. Samourai Wallet ran a service known as a ‘cryptocurrency mixer‘ designed to make transaction tracing difficult — a practice the government linked to over $2 billion in illicit transactions and $100 million in money laundering tied to illegal markets and scams. Both executives pleaded not guilty.The document presented by the defense reveals that FinCEN considered that, since Samourai Wallet did not hold custody of cryptocurrencies or control users’ private keys, it should not be classified as a money services business. Furthermore, although prosecutors tried to argue that the company exercised functional control over the funds, FinCEN admitted this issue was not clearly addressed under current regulations and would be difficult to defend in court.Samourai’s Founders Will Request Charges Be DismissedThe lawyers requested a hearing to clarify why this information had been concealed for so long and what legal consequences the omission should carry. They also announced their intention to insist that the charges be dismissed, as their clients acted under the belief that they were complying with the law.The situation has grown even more complicated following the Department of Justice’s decision to limit criminal actions against cryptocurrency mixers that do not intentionally violate regulatory rules. This new stance could directly influence the future of the case, which remains under review while both parties consider whether to drop it or move forward with judicial proceedings.

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DDC Enterprise Limited Announces 2025 Unaudited Preliminary Financial Performance: Record Revenue Achieved, Bitcoin Treasury Grows to 2183 Coins

On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) today announced preliminary, unaudited full-year financial performance for the year ended December 31, 2025. The company expects to achieve record revenue and record positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and overall margin improvement. The final audited financial report is expected to be released in mid-April 2026.


2025 Full-Year Financial Highlights


Revenue: Expected to be between $39 million and $41 million, reaching a new company high.


Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue is expected to grow 11% to 17% year over year.


Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.


Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.


Core Consumer Food Business Performance


In 2025, DDC's core consumer food business maintained strong operational performance.


The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.


In 2025, Core Consumer Food Business Adjusted EBITDA is expected to be between $5.5 million and $6 million.


Bitcoin Reserve Update


In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.


As of December 31, 2025: The company holds 1,183 BTC.


As of February 28, 2026: Holdings increased to 2,118 BTC


Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC


DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."


Adjusted EBITDA Definition
For the full year 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as: Net income / (loss) excluding the following items:· Interest expense· Taxes· Foreign exchange gains/losses· Long-lived asset impairment· Depreciation and amortization· Non-cash fair value changes related to financial instruments (including Bitcoin holdings)· Stock-based compensation


About DDC Enterprise Limited


DDC Enterprise Limited (NYSE: DDC) is actively implementing its corporate Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.


The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.


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