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OFAC targets Ekaterina Zhdanova for laundering over $100m via crypto, evading sanctions for Russian oligarchs and aiding ransomware affiliates. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced sanctions against Ekaterina Zhdanova, a Russian national implicated in significant money laundering operations involving cryptocurrencies. Zhdanova is accused of facilitating over $100 million in transactions for a Russian oligarch to the United Arab Emirates, as well as handling large sums for a Ryuk ransomware affiliate.  NEW!!! United States is sanction ing Ekaterina Zhdanova, a Russian national, for her role in laundering hundreds of millions of dollars using virtual currency on behalf of sanction ed russian elites . pic.twitter.com/zvVuuFgFIT — Alex Raufoglu (@ralakbar) November 3, 2023 According to OFAC’s investigation, Zhdanova’s activities offered a channel for Russian elites to maintain their wealth and status despite the extens...

Recent data from Glassnode, an on-chain analytics firm, reveals that short-term holders (STHs) of bitcoin are currently posting more profits than losses, and are in green, “making money.”  STHs are mostly traders, eager to clip bitcoin ’s volatility in their quest to make money . They mostly hold for short periods, riding the uptrend before liquidating and realizing profits when prices move against them. Bitcoin STHs are making money Based on the “realized profit/loss ratio,” a trading indicator that examines the on-chain history of on-chain BTC within a given time frame, present readings suggests that STHs are selling their coins at a profit rather than a loss, an observation that comes when prices have been volatile in the first week of July. The #Bitcoin Short-Term Holder cohort remains convincingly within a profit driven regime, with profit taking events a significant 55.6X larger than loss taking events. pic.twitter.com/ernmv7AsfU — glassnode (@glassno...

Join Our Telegram channel to stay up to date on breaking news coverage A new report from Reuters details how Binance, the largest cryptocurrency exchange in the world, violated U.S. financial regulations by mixing consumer money with company revenue in the years 2020 and 2021. A bank document examined by the news organization revealed that on February 10, 2021, Binance combined $15 million from a customer-funded account with $20 million from a company account. According to three former U.S. regulators, the money transfers at Binance outlined by Reuters show a lack of internal controls to guarantee that user cash were readily identified and segregated from business income. They claimed that by hiding the whereabouts of client assets, the mixing of these funds put client assets at danger. Customers of Binance shouldn’t “need a forensic accountant to find where their money is,” according to John Reed Stark, a former director of the Securities and Exchange Commiss...

Join Our Telegram channel to stay up to date on breaking news coverage The crypto industry has strongly infiltrated the traditional financial sector to the point where the banks can no longer ignore it. It has now been several years since central banks worldwide have started building CBDCs, while some have even gone as far as offering accounts to crypto companies. Meanwhile, according to its deputy governor, Sir Jon Cunliffe, the Bank of England has seemingly developed a strong interest in tokenization . The bank’s official spoke during the recent Innovative Finance Global Summit, which took place in London on April 17th. During the event, he addressed the development of tokenization , stating that the UK’s central bank is currently exploring it. According to Cunliffe, the bank is looking into tokenization in bank money , central bank money , and even non-bank money . The @bankofengland's Jon Cunliffe outlines 4 areas where tokenisation of money is being explored...