Russian Crypto Exchange Moves Money for Gaza Groups, Report
Palestinian militant organizations, including a Hamas-linked Islamist group, have been using a Moscow-based crypto exchange to transfer millions, a press report revealed. The U.S.-sanctioned platform, which allows customers to convert Russian cash to crypto and then withdraw fiat abroad, has been also serving criminal gangs and rich Russians, sources claim.
Russian Exchange Allegedly Transfers Millions in Crypto for Fundamentalists in Gaza
Islamic Jihad, a Palestinian extremist organization active in the Hamas-controlled Gaza Strip, has received part of a $ 93 million payment through a Russian cryptocurrency exchange called Garantex, the Wall Street Journal (WSJ) reported.
The company, originally registered in Estonia but headquartered in Moscow, was sanctioned by the U.S. Treasury Department in April 2022 as part of measures to prevent Russian efforts to evade financial restrictions imposed over the invasion of Ukraine.
The crypto trading platform allegedly processed illicit transactions from the ransomware group Conti and darknet market Hydra as well. It was also used to launder money for Russia’s largest crypto pyramid scheme, Finiko, and raise funds for the Russian far-right paramilitary unit Rusich.
Hamas, the Islamist political and military movement which launched a terrorist assault on Israel earlier this month, has employed a similar funding scheme to conceal transactions and circumvent sanctions, according to the sources quoted in the article.
Palestinian militant organizations, including a Hamas-linked Islamist group, have been using a Moscow-based crypto exchange to transfer millions, a press report revealed. The U.S.-sanctioned platform, which allows customers to convert Russian cash to crypto and then withdraw fiat abroad, has been also serving criminal gangs and rich Russians, sources claim.
Russian Exchange Allegedly Transfers Millions in Crypto for Fundamentalists in Gaza
Islamic Jihad, a Palestinian extremist organization active in the Hamas-controlled Gaza Strip, has received part of a $ 93 million payment through a Russian cryptocurrency exchange called Garantex, the Wall Street Journal (WSJ) reported.
The company, originally registered in Estonia but headquartered in Moscow, was sanctioned by the U.S. Treasury Department in April 2022 as part of measures to prevent Russian efforts to evade financial restrictions imposed over the invasion of Ukraine.
The crypto trading platform allegedly processed illicit transactions from the ransomware group Conti and darknet market Hydra as well. It was also used to launder money for Russia’s largest crypto pyramid scheme, Finiko, and raise funds for the Russian far-right paramilitary unit Rusich.
Hamas, the Islamist political and military movement which launched a terrorist assault on Israel earlier this month, has employed a similar funding scheme to conceal transactions and circumvent sanctions, according to the sources quoted in the article.
🇮🇱🟠 Binance assisted Israel in freezing Hamas cryptocurrency accounts.
Israeli police have frozen cryptocurrency accounts linked to Palestinian militant group Hamas. The cyber arm of Israel Police's Lahav 433 unit worked with the country’s defense ministry, intelligence agencies and crypto exchange Binance to target the accounts in question. It added that any funds seized are destined for the Israeli national treasury.
Israeli police have frozen cryptocurrency accounts linked to Palestinian militant group Hamas. The cyber arm of Israel Police's Lahav 433 unit worked with the country’s defense ministry, intelligence agencies and crypto exchange Binance to target the accounts in question. It added that any funds seized are destined for the Israeli national treasury.
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Stay in known with Stockpoint. Stockpoint Exchange is user-friendly for both desktop and mobile versions of your devices. You have the ability to trade all the time: anytime, anywhere. Moreover, you can buy the cryptocurrency you need in a couple of clicks and store all your currencies in one place. Make the most of the opportunities available to you!
Go to our website for more info. Link in description⬆
We have made cryptocurrency trading more accessible☑️
#crypto #btc #cryptocurrency #cryptonews #cryptocurrencyinvestment #cryptocurrencynews #blockchain #innovation #bitcoin #ico #tokensale #btc #cryptotrading #ethereum
💰 FTX estate stakes $122 million of Solana, on-chain data shows
Earlier today, the FTX estate staked over 5.5 million Solana (SOL) coins, valued at $122 million, from one of its principal wallets on the Solana blockchain, according to on-chain data from SolanaFM. One of the wallet addresses identified as managed by the FTX estate delegated the coins with Figment, one of the network validators for staking, as first noted by on-chain analyst ‘ashpool’ on X. FTX estate includes the exchange’s assets and liabilities at the time of its bankruptcy filing.
A substantial amount of SOL earmarked to the FTX estate unlocks every month according to the vesting schedule, offering the possibility for the estate to sell them off if they want. There have been previous concerns among crypto investors that the estate might liquidate its substantial Solana holdings, particularly the coins becoming unlocked, which could impact the asset’s market value. However, the latest action by the FTX estate counters those concerns. These assets include over $1 billion in largely staked Solana (SOL) tokens and $560 million in Bitcoin (BTC), classified as liquid crypto assets for the firm. Additionally, the estate reported $200 million in real estate holdings in the Bahamas and $1.9 billion in illiquid assets.
Earlier today, the FTX estate staked over 5.5 million Solana (SOL) coins, valued at $122 million, from one of its principal wallets on the Solana blockchain, according to on-chain data from SolanaFM. One of the wallet addresses identified as managed by the FTX estate delegated the coins with Figment, one of the network validators for staking, as first noted by on-chain analyst ‘ashpool’ on X. FTX estate includes the exchange’s assets and liabilities at the time of its bankruptcy filing.
A substantial amount of SOL earmarked to the FTX estate unlocks every month according to the vesting schedule, offering the possibility for the estate to sell them off if they want. There have been previous concerns among crypto investors that the estate might liquidate its substantial Solana holdings, particularly the coins becoming unlocked, which could impact the asset’s market value. However, the latest action by the FTX estate counters those concerns. These assets include over $1 billion in largely staked Solana (SOL) tokens and $560 million in Bitcoin (BTC), classified as liquid crypto assets for the firm. Additionally, the estate reported $200 million in real estate holdings in the Bahamas and $1.9 billion in illiquid assets.
🟠 Binance.US Now Has an Unexpected Ally in its Fight Against the SEC
Binance.US has garnered support from a major crypto lobbyist group in warding off an ongoing lawsuit from the U.S. Securities and Exchange Commission (SEC). In a new amicus brief, the US Chamber of Digital Commerce argued that the agency’s claims against the exchange are misplaced, and that its actions are turning crypto businesses away from its borders. In the Thursday filing, the lobbyists echoed previous criticisms from industry leaders that the SEC is creating a hostile environment for crypto businesses through “regulation by enforcement.”
The SEC has already launched enforcement actions against dozens of major crypto firms which, as of this year, include industry giants like Kraken, Coinbase, and Binance. Numerous pro-crypto politicians and industry leaders alike have claimed that crypto would flee the U.S. if the agency continued down this path. Crypto lender Nexo, for example, closed down its Earn program in the U.S. earlier this year after paying a $45 million fine to the SEC. In the case of Binance, the SEC alleged on June 5 that the exchange offered over a dozen securities for trade, including BNB, BUSD, SOL, ADA, MATIC, and others. Industry leaders like Coinbase, however, have argued that there exist no clear rules on how crypto interacts with securities law, and that the SEC is overstepping its authority in crypto.
Binance.US has garnered support from a major crypto lobbyist group in warding off an ongoing lawsuit from the U.S. Securities and Exchange Commission (SEC). In a new amicus brief, the US Chamber of Digital Commerce argued that the agency’s claims against the exchange are misplaced, and that its actions are turning crypto businesses away from its borders. In the Thursday filing, the lobbyists echoed previous criticisms from industry leaders that the SEC is creating a hostile environment for crypto businesses through “regulation by enforcement.”
The SEC has already launched enforcement actions against dozens of major crypto firms which, as of this year, include industry giants like Kraken, Coinbase, and Binance. Numerous pro-crypto politicians and industry leaders alike have claimed that crypto would flee the U.S. if the agency continued down this path. Crypto lender Nexo, for example, closed down its Earn program in the U.S. earlier this year after paying a $45 million fine to the SEC. In the case of Binance, the SEC alleged on June 5 that the exchange offered over a dozen securities for trade, including BNB, BUSD, SOL, ADA, MATIC, and others. Industry leaders like Coinbase, however, have argued that there exist no clear rules on how crypto interacts with securities law, and that the SEC is overstepping its authority in crypto.
Crypto market capitalization will grow by $1 trillion in case of approval of a spot bitcoin-ETF
The analytical company CryptoQuant in a new report on the cryptocurrency market writes that in the case of approval of the bitcoin-ETF capitalization of BTC can grow by $155 billion, and the total capitalization of the entire crypto market by $1 trillion, with the infusion of only 1% of institutional capital into the market.
According to analysts' calculations, the price of BTC in this case could rise to $50-70 thousand.
The analytical company CryptoQuant in a new report on the cryptocurrency market writes that in the case of approval of the bitcoin-ETF capitalization of BTC can grow by $155 billion, and the total capitalization of the entire crypto market by $1 trillion, with the infusion of only 1% of institutional capital into the market.
According to analysts' calculations, the price of BTC in this case could rise to $50-70 thousand.
Bank of America CEO Discusses Economic Slowdown and Fed Cutting Interest Rates
Bank of America Boss Brian Moynihan on U.S. Economy
The chairman and CEO of Bank of America, Brian Moynihan, shared insights on the U.S. economy and the potential Federal Reserve interest rate cuts during an interview with Fox Business on Wednesday. Moynihan detailed that according to Bank of America’s research team:
"The economy slows down in the middle of ’24 to about a half-a-percent annualized growth for the second and third quarter, and then works its way back out. And the Fed will start cutting rates, they believe, in the middle of next year to the latter half of next year."
“So that’s the basic thing, what would be called a soft landing,” he added. The Bank of America chief then cautioned that there is a geopolitical risk, such as if the Fed tightening goes too far.
Moynihan discussed how interest rate hikes have changed consumer and business decision-making. The Federal Reserve has raised its key interest rate 11 times since March of last year, pushing it to the highest level in 22 years. Furthermore, the executive stressed that inflation remains a concern, with the Labor Department’s recent report indicating a 0.4% rise in the consumer price index for everyday goods, including essentials like gasoline, groceries, and rents, during September.
The Bank of America CEO emphasized: “The higher interest rates affect the most rate-sensitive of activities, so homes, and you saw mortgage applications were low today just because a higher interest rate makes everybody step back and adjust. Car purchases, same thing.” Tesla CEO Elon Musk recently raised a similar concern regarding high interest rates affecting car purchases.
Moynihan noted: “People are forgetting on the commercial side, there’s a huge impact of higher rates in terms of people’s willingness to borrow … And so lending conditions are tight, and that’s what the Fed wanted to achieve.” He concluded:
The point is that all the impacts of everything going on have led the consumer to slow down their activity. Whether it’ll be bounced around in retail sales, this is across all the things they do with their money.
Bank of America Boss Brian Moynihan on U.S. Economy
The chairman and CEO of Bank of America, Brian Moynihan, shared insights on the U.S. economy and the potential Federal Reserve interest rate cuts during an interview with Fox Business on Wednesday. Moynihan detailed that according to Bank of America’s research team:
"The economy slows down in the middle of ’24 to about a half-a-percent annualized growth for the second and third quarter, and then works its way back out. And the Fed will start cutting rates, they believe, in the middle of next year to the latter half of next year."
“So that’s the basic thing, what would be called a soft landing,” he added. The Bank of America chief then cautioned that there is a geopolitical risk, such as if the Fed tightening goes too far.
Moynihan discussed how interest rate hikes have changed consumer and business decision-making. The Federal Reserve has raised its key interest rate 11 times since March of last year, pushing it to the highest level in 22 years. Furthermore, the executive stressed that inflation remains a concern, with the Labor Department’s recent report indicating a 0.4% rise in the consumer price index for everyday goods, including essentials like gasoline, groceries, and rents, during September.
The Bank of America CEO emphasized: “The higher interest rates affect the most rate-sensitive of activities, so homes, and you saw mortgage applications were low today just because a higher interest rate makes everybody step back and adjust. Car purchases, same thing.” Tesla CEO Elon Musk recently raised a similar concern regarding high interest rates affecting car purchases.
Moynihan noted: “People are forgetting on the commercial side, there’s a huge impact of higher rates in terms of people’s willingness to borrow … And so lending conditions are tight, and that’s what the Fed wanted to achieve.” He concluded:
The point is that all the impacts of everything going on have led the consumer to slow down their activity. Whether it’ll be bounced around in retail sales, this is across all the things they do with their money.