Author: Admin-aX9d7
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) proposed actions Thursday to sever Cambodia-based Huione Group from the U.S. financial system.”For years, Huione Group has laundered illicit proceeds from cybercrimes,” the agency said in a notice of proposed rulemaking under Section 311 of the Patriot Act, identifying Huione as a “primary money laundering concern.”Section 311 provides the U.S. Treasury Secretary with “a range of options” that can be adapted to target specific money laundering and terrorist financing risks.Huione Group is a Cambodia-based financial conglomerate headquartered in Phnom Penh. Its portfolio includes digital payment services, crypto platforms, and insurance operations.The…
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Movement Labs confirmed the suspension of its co-founder, Rushi Manche, following controversies over a market maker deal that he brokered.Movement announced the suspension of Manche in a May 2 X post, explaining that the “decision was made in light of ongoing events.” The decision follows Coinbase’s recent decision to suspend the Movement Network (MOVE) trading, citing the token’s failure to meet its listing standards.Source: MovementThe suspension came after a recently announced third-party review requested by the Movement Network Foundation into an agreement orchestrated by Manche with Rentech — the latter helped broker an agreement with market maker Web3Port. Private intelligence…
12h30 ▪ 5 min read ▪ by Mikaia A. Freedom. Here is a word that Humanity has raised to the rank of totem for centuries. Freedom to think, to act, to trade. But in the age of digital platforms, its definition wavers. For Changpeng Zhao, known as CZ, it is impossible to talk about financial freedom without freedom of expression. It is this conviction that led him to inject 500 million dollars into X, the former Twitter, in the name of a freer Web3… at least in appearance. In brief CZ links financial freedom and freedom of expression, a pillar…
Nearly 30 crypto advocate groups led by the lobby group the Crypto Council for Innovation (CCI) have asked the Securities and Exchange Commission for clear regulatory guidance on crypto staking and staking services.The CCI’s Proof of Stake Alliance (POSA) group argued in an April 30 letter to the agency’s Crypto Task Force lead, SEC Commissioner Hester Peirce, that staking is fundamentally a technical process, not an investment activity. “Staking isn’t niche — it’s the backbone of the decentralized internet,” the letter said. The letter responded to the SEC’s call for public input on whether staking and liquid staking, where crypto users lock…
Key takeaways:Bitcoin (BTC) price jumped to new quarterly highs at $96,700 on May 1, a day after the US GDP contracted -0.3% for the first time since Q2 2022. Amid heightened economic concerns, the probability of a Federal Reserve interest rate cut rose to 62.8% for the June 18 Federal Reserve meeting. Over the past 24 hours, short position liquidations exceeded $137 million, with Alphractal founder Joao Wedson observing that BTC’s price momentum continues to favor bullish trends.Bitcoin aggregated liquidation heatmap. Source: X.comPeter Brandt predicts a $150,000 Bitcoin top by Q3In a recent post on X, veteran trader Peter Brandt…
The U.K.’s Financial Conduct Authority (FCA) is seeking views on intermediaries, staking, lending, borrowing, and decentralised finance (DeFi), in a discussion paper released on Friday.The discussion paper follows draft legislation by the Treasury that was announced on Tuesday. Once the legislation passes it will bring specific crypto activities within the FCA’s regulation, the regulator said on its website.”Crypto is a growing industry. Currently largely unregulated, we want to create a crypto regime that gives firms the clarity they need to safely innovate, while delivering appropriate levels of market integrity and consumer protection,” said David Geale, executive director of payments and…
11h05 ▪ 3 min read ▪ by Fenelon L. Interest in Solana futures has reached unprecedented highs, with $5.75 billion in open positions as of April 30. However, this dramatic increase in leverage usage raises questions about the direction SOL’s price might take in the coming weeks. In Brief Open interest on SOL futures reached $5.75 billion as of April 30, ranking Solana third in the crypto derivatives market. The $140 support has held for a week, indicating increased investor confidence. Despite negative funding rates, the Solana ecosystem shows remarkable strength, with a TVL of $9.5 billion. The prospect of…
A new study finds that 68% of Americans have purchased bitcoin since President Trump announced reciprocal tariffs, surpassing gold buyers by nearly 24%. Americans Allocate More Funds to Bitcoin According to a new NFT Evening study, 68% of Americans have bought bitcoin ( BTC) since the U.S. President Donald Trump announced reciprocal tariffs. This figure […]
Bitcoin miner Riot Platforms reported its highest-ever quarterly revenue, but still posted a loss as mining costs have nearly doubled compared to the same period last year amid efforts to expand its facilities.“We achieved a new record for quarterly revenue this quarter, at $161.4 million,” Riot CEO Jason Les said in a May 1 report for its first quarter 2025 earnings. The company just surpassed Wall Street estimates of $159.79 million by 1%.Riot’s Q1 revenue was a 50% jump compared to the same quarter a year ago.Riot blames “halving event” for expensesThe firm reported a net loss of $296,367 over…