US Banks Linked to $312B Money Laundering, Renewing Debate Over Crypto’s Role
U.S. regulators face renewed pressure after revelations that American banks handled more than $312 billion in suspicious transactions tied to Chinese money laundering networks between 2020 and 2024. The figures, published this week in a Treasury Department report from the Financial Crimes Enforcement Network (FinCEN) , paint a troubling picture of the traditional financial system’s […]
Crypto Executives Launch $200M SPAC for Bitcoin Infrastructure Acquisition
A group of seasoned cryptocurrency executives has joined forces to establish a $200 million special purpose acquisition company (SPAC) targeting opportunities in Bitcoin infrastructure. The move underscores growing investor appetite for companies building the backbone of the Bitcoin ecosystem, even as the broader digital asset market experiences cyclical volatility. The new entity, reportedly spearheaded by […]
Fenwick Denies Allegations of Key Role in Multibillion-Dollar FTX Fraud
Fenwick & West, the law firm once representing the collapsed crypto exchange FTX, has strongly denied allegations that it played a central role in one of the largest financial frauds in history. The firm, which advised FTX on regulatory and corporate matters before the company’s downfall in late 2022, is facing increasing scrutiny amid lawsuits […]
Google Unveils Universal Ledger in Ambitious Push Into Institutional Blockchains
Google Cloud has announced its plans for the Google Cloud Universal Ledger (GCUL), a layer-1 blockchain platform designed to serve as a neutral foundation for financial institutions worldwide. The initiative marks one of Google’s biggest moves into the rapidly unwinding institutional blockchains. The Universal Ledger is being positioned as a credibly neutral system that avoids […]
US Regulator Integrates Nasdaq Tool to Tackle Market Manipulation
The Commodity Futures Trading Commission (CFTC) has integrated Nasdaq’s advanced Market Surveillance platform to modernize its oversight systems and strengthen its ability to combat fraud, abuse, and market manipulation. The move represents a major step forward for the regulator, which has been relying on outdated monitoring infrastructure for decades. The new platform equips the CFTC […]