The stablecoin issuer reported the illicit funds had been used by a Southeast Asia-based crime syndicate responsible for a “pig butchering” romance scam. Stablecoin issuer Tether froze roughly $225 million worth of USDT tokens as part of an investigation into a Southeast Asia human trafficking syndicate launched by the United States Department of Justice (DOJ). …
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OpenAI’s new interim CEO is considered a “product person” who supports regulatory oversight of artificial intelligence. OpenAI’s board of directors ousted founder Sam Altman on Nov. 17, shocking the technology world, while appointing Mira Murati as its interim CEO. Since then, the board has been facing strong criticism from the startup major clients and investors.…
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Sushi is set to test Bitcoin swaps on 30 different blockchains using the interpretability protocol ZetaChain. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. A new DeFi report has highlighted that a significant amount of…
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The Bitcoin blockchain reached $11.6 million in fees paid on Nov. 16, with the average transaction fee up 746% from a year ago. The prospect of a spot Bitcoin (BTC) exchange-traded fund (ETF) being approved soon in the United States has increased demand for the major cryptocurrency, leading to a surge in transaction fees. The…
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The former presidential candidate spoke at NABS about opportunities the United States may be missing to blockchain and AI for the public good. Andrew Yang, a former candidate for United States president and New York City mayor as well as founder of the Forward Party, had sobering observations about the uses of blockchain, or its…
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Reports on crypto funding terrorism and blockchain forensics were confusing, but everyone agreed on the need for collaboration and regulation. The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion received an education in the uses of blockchain technology in a hearing titled “Crypto Crime in Context: Breaking Down the Illicit…
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The six individuals, supported by crypto exchange Coinbase, have taken a case involving the U.S. Treasury sanctioning Tornado Cash to federal appellate court. A group of Tornado Cash users has filed an appeal in federal court following a ruling upholding the United States Treasury Department’s decision to add the cryptocurrency mixer to its list of…
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The Blockchain Association claimed the U.S. Treasury overstepped its authority in proposing crypto tax rules difficult or impossible to follow by many in the space. The Blockchain Association, a United States-based cryptocurrency advocacy group, has submitted a comment letter mainly in opposition to tax regulations proposed by the Internal Revenue Service (IRS). In a Nov.…
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U.S. Treasury Secretary Janet Yellen said she is looking forward to hearing from the finance ministers of some of the world’s most crypto-forward countries. The weeklong Asia-Pacific Economic Cooperation (APEC) summit began on Nov. 11 in San Francisco. The highlight of the event will surely be on the sidelines, when United States President Joe Biden…
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Discussions around illicit activity, such as money laundering and terror financing, will take center stage at the Financial Services Committee hearing. The United States Financial Services Committee (FSC) has scheduled a Nov. 15 hearing for a deep dive into the illicit activities in the cryptocurrency ecosystem. The hearing, ‘Crypto crime in context: breaking down the…
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