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Four Russian nationals have been indicted for money laundering and operating unlicensed cryptocurrency mixers Blender.io and Sinbad.io, following Blender's relaunch after sanctions. The indictment highlights significant transactions linked to illegal activities, raising concerns about jurisdiction and the implications for privacy in cryptocurrency. Legal experts suggest the case reflects a broader trend of prosecuting mixer founders, echoing previous actions against Tornado Cash.
Bitcoin spot ETFs experienced record outflows of $671.9 million, with Grayscale Bitcoin Trust losing the most at $208.6 million, amid a price drop to under $93,000. This decline coincided with market volatility and profit-taking ahead of anticipated Federal Reserve rate cuts, which may impact future investor sentiment. Grayscale's holdings have plummeted by 55% in 2024, as investors shift to lower-fee alternatives, raising concerns about potential selloffs due to regulatory scrutiny.
Irfan Shaik, founder of Interstate, proposes that regulators could target Ethereum's validators to enforce compliance, noting that major builders have censored transactions. Meanwhile, Tornado Cash co-founder Roman Storm seeks to dismiss charges after a Fifth Circuit ruling deemed sanctions against immutable smart contracts illegal, emphasizing that developers cannot control their use. This ruling has sparked optimism among privacy advocates and decentralized protocol supporters.
The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against Binance Australia Derivatives for misclassifying over 500 retail clients as wholesale investors, depriving them of essential consumer protections. This misclassification exposed clients to high-risk financial products without adequate safeguards, prompting ASIC to seek penalties and corrective measures. The regulator criticized Binance's compliance systems as "woefully inadequate," highlighting the need for proper classification to ensure retail clients receive necessary protections.
Ethereum's price projection could drop to $7,300 by 2030, reflecting changing fundamentals, while institutional demand has surged, with BlackRock's Ethereum ETF attracting $1.5 billion in just 16 days. Despite recent inflows, concerns linger over the impact of layer-2 networks on Ethereum's market value.
Amazon shareholders have proposed that the company hold at least 5% of its assets in Bitcoin to safeguard against inflation, following a significant rise in the cryptocurrency's value. Meanwhile, Microsoft is also facing a similar proposal, with its board recommending against it, despite potential profit boosts outlined by MicroStrategy's Michael Saylor. Amazon's strong financial performance continues, with a reported $158.9 billion in revenue for Q3 2024, reflecting an 11% year-over-year increase.
The UK National Crime Agency disrupted a major Russian money laundering operation involving cryptocurrencies, resulting in 84 arrests and the seizure of over $25.5 million. The investigation, part of "Operation Destabilise," extended internationally, highlighting the challenges of inconsistent regulations in crypto-related crimes. Criminals utilized cryptocurrencies to facilitate cash transactions and reinvest in illicit activities, complicating recovery efforts due to bureaucratic hurdles.
Vince Dioquino
People
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russian nationals indicted for money laundering through crypto mixers
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15:56 13.01.2025
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20:58 09.12.2024
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13:43 09.12.2024
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