‘Wealthiest US prisoner’: How did Binance founder CZ get there?
Binance founder and former CEO Changpeng “CZ” Zhao is the wealthiest person to serve jail time in the US, with current net worth estimated more than $60 billion. Go to Source
Sanctions
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US sanctions Russian crypto platforms for money laundering ties
Two crypto exchanges and two individuals have been sanctioned for ties to underground finance. Go to Source
Binance continues to serve Russian users despite 2023 exit
A spokesperson confirmed that Binance continues to serve a “limited number of existing Russian users” a year after announcing its full exit from Russia. Go to Source
Terror victims claim DOJ withholding their cut of $4.3B Binance penalty
Four people who are victims or family of victims of state terrorism sued the Justice Department claiming it hasn’t put the billions from Binance’s settlement into a victim fund. Go to Source
North Korea Signals Closer BRICS Relations Amid Growing Russia Ties
North Korea may be ramping up efforts to align itself with the BRICS economic bloc, as its top diplomat skipped the United Nations General Assembly in favor of a BRICS-related event. Analysts suggest that while Kim Jong-un seeks to break diplomatic isolation through such alliances, North Korea’s sanctions and economic constraints make membership unlikely. Recent … Read more
Lavrov Says He Agrees With Donald Trump on US Sanctions Weakening Dollar’s Status
Russian Foreign Minister Sergey Lavrov has backed former U.S. President Donald Trump’s remarks about the negative effects of U.S. sanctions on the dollar and the American economy. Lavrov agreed that sanctions imposed by the Biden administration have weakened the dollar’s global reserve status. He further noted a global shift towards dedollarization, led by nations like … Read more
FATF Urges India to Strengthen Virtual Asset Regulation
India has achieved a high level of technical compliance with Financial Action Task Force (FATF) standards, addressing illicit finance, money laundering, and terrorist financing. In a joint assessment with regional bodies, the FATF praised India’s progress but pointed out areas needing improvement, especially in regulating the non-financial sector and virtual asset providers. The country was … Read more
BRICS Payment Platforms Gain Momentum as US Dollar Alternatives, Says Russian Official
BRICS’ new payment platforms, which offer alternatives to the U.S. dollar and euro, are attracting global attention, according to Russian Foreign Minister Sergey Lavrov. These systems enable countries to conduct economic activities without relying on currencies used as political tools by Western powers. The Russian official noted increasing interest in these platforms as a way … Read more
US Treasury Sanctions Cambodian Tycoon Over Crypto Fraud and Trafficking Links
The U.S. Department of the Treasury has imposed sanctions on Cambodian tycoon Ly Yong Phat and his businesses, linking them to human trafficking and forced labor scams involving cryptocurrency fraud. Victims were manipulated into online scam centers, and trafficked workers were forced into labor for these schemes. The sanctions freeze U.S.-based assets and prohibit transactions, … Read more
Over $55 Billion in Settlements Between Russia and Turkey Potentially Disrupted by Recent Western Sanctions
Trade settlements between Russia and Turkey via bank transfers are now being disrupted due to the new sanctions enacted against Russia. According to Russian media, the U.S. is currently checking all sources of transfers to and from Russia, and bank headquarters are heavily scrutinizing Russian citizens opening bank accounts in the country. Settlements Between Russia … Read more