News Explorer — Crypto Funds in Fentanyl Trade Largely Come From Centralized Exchanges: Report

Crypto Funds in Fentanyl Trade Largely Come From Centralized Exchanges: Report

A new report by Elliptic reveals that crypto funds originating from centralized exchanges are being used to finance the global fentanyl trade. The report identifies $32 million worth of crypto income in dealers’ digital wallets, with 100 China-based suppliers accepting crypto for pill presses and fentanyl precursor chemicals. While decentralized finance (DeFi) has been highlighted as a potential vector for financial crime, the report suggests that the majority of dealers’ income comes from centralized exchanges.

Source Article

Decrypt

Crypto Funds in Fentanyl Trade Largely Come From Centralized Exchanges: Report

A new report by Elliptic reveals that crypto funds originating from centralized exchanges are being used to finance the… Read Summary

Source Article

Decrypt

Crypto Gamblers Are Now Betting on Streaming Hamster Races

Hamsters.gg, a new online gambling site, offers livestreamed hamster races where users can bet Binance USD stablecoin on… Read Summary

Source Article

Decrypt

House Bill Seeks to Clarify US Crypto Regulation

U.S. lawmakers have introduced the Financial Innovation and Technology for the 21st Century Act, a 212-page bill aimed a… Read Summary

Source Article

Decrypt

Ex-Alameda CEO Caroline Ellison Admits She Wasn’t ‘Well Suited’ for Role

Former Alameda Research CEO Caroline Ellison, who admitted fraud related to the collapse of FTX, stated in her diary tha… Read Summary

Source Article

Jul 20, 1:51 pm

The Block

Uniswap Creator Hayden Adams Hit by Twitter Hack

The Twitter account of Uniswap creator Hayden Adams was hacked, with several tweets containing scam links sent from the… Read Summary

Source Article

Jul 20, 1:37 pm

Coindesk

Coinbase Borrow Program to Shut Down

Coinbase Borrow, a program that allowed customers to receive fiat loans against their bitcoin holdings, will be shutting… Read Summary

Source Article

Decrypt

Senate DeFi Bill Is ‘Messy and Unconstitutional,’ Says Coin Center

Crypto legal experts are skeptical of the proposed CANSEE Act, a Senate bill aimed at regulating money laundering in the… Read Summary

Source Article

Decrypt

Solana Foundation: No Downtime Since February

The Solana Foundation has released a network performance report showing significant improvements since October 2022. The… Read Summary

Source Article

Jul 20, 10:50 am

Decrypt

Hive Uses Ethereum Mining Rigs, AI to Make Bitcoin Ordinals

Canadian crypto miner Hive Digital Technologies plans to use Ordinals, a Bitcoin protocol, to create generative AI art a… Read Summary

Source Article

Jul 20, 10:43 am

Decrypt

UK Bank Coutts Apologizes to Bitcoin-Friendly Nigel Farage

Nigel Farage, a right-wing British politician, received an apology from Coutts bank after his account was closed due to… Read Summary

Source Article

Jul 20, 9:33 am

Decrypt

Hashdex Board Adds Brian Brooks, Former Binance US CEO

Brian Brooks, former CEO of Binance.US and partner at Valor Capital Group, has joined the board of crypto-focused asset… Read Summary

Source Article

Jul 20, 9:15 am

Decrypt

Proof’s Moonbirds Mythics NFT Reveal Will Last 200+ Days

NFT startup Proof has launched its new Ethereum profile picture PFP collection, Mythics, featuring a generative series o… Read Summary

Source Article

Jul 20, 7:45 am

Coindesk

FTX Users Claim They’ve Been Hit by Phishing Scams

Users of bankrupt crypto exchange FTX are being targeted by a potential phishing attack, CoinDesk reports. They received… Read Summary

Source Article

Jul 20, 6:24 am

Decrypt

UK’s Treasury Rejects Plan to Regulate Crypto Like Gambling

The UK HM Treasury has rejected a proposal to classify crypto trading as gambling, stating that it disagrees with the re… Read Summary

Source Article