CFTC Seeks to Vacate Gemini’s $5mn Enforcement Following Winklevoss Ask
The U.S. Commodity Futures Trading Commission is moving to vacate a $5 million enforcement settlement reached with cryptocurrency exchange Gemini under the Biden administration, following a lobbying campaign by founders Tyler and Cameron Winklevoss.
KPMG Australia’s CEO Steps Down as Whistleblower Scandal Grows
The chief executive of KPMG’s Australian arm and its national audit leader have resigned after the Big Four firm admitted its investigation into whistleblower allegations of data misuse had fallen short of its standards.
Hungary Seizes $300mn in Money-Laundering Probe of Central Bank Foundations
Hungarian prosecutors and police have seized around 92 billion forints ($300 million) in funds and securities in a money laundering probe of foundations set up by the National Bank of Hungary.
The Pentagon Gave a $620-Million Loan to Startup Linked to Donald Trump Jr.
A senior White House adviser personally directed the Pentagon to extend a $620 million loan to Vulcan Elements, a North Carolina rare-earth magnet startup partly owned by a venture firm tied to Donald Trump Jr.
Hong Kong Is Now the World’s Largest Hub of Offshore Wealth
Hong Kong has surpassed Switzerland as the world’s largest cross-border wealth-management center for the first time, driven by a surge of investment from mainland China.
Is the Trump Administration Unraveling DOJ’s Landmark FIFA Bribery Case?
A federal court in Brooklyn vacated corruption charges Wednesday against two defendants convicted in the U.S. crackdown on FIFA bribery, after the Trump administration said the cases no longer fit its prosecutorial priorities.
Trump Administration Reimposes Sanctions on U.N. Special Rapporteur Albanese
The Trump administration has re-added a United Nations human rights official to the U.S. sanctions blacklist just one week after quietly removing her, and less than two weeks after a federal judge ruled the original designation unconstitutional.
BIS and Banks Will Soon Begin Testing Blockchain-Backed Payments Platform
A landmark public-private initiative convened by the Bank for International Settlements (BIS) and the Institute of International Finance will soon begin testing a tokenized payment platform for cross-border settlements across multiple currencies and jurisdictions.
Russian Airlines Rely on a Shadow Supply Chain for Boeing and Airbus Parts
Russian airlines have largely defied Western sanctions aimed at grounding their fleets by building a shadow supply chain for Boeing and Airbus spare parts routed through India, Turkey, the United Arab Emirates, and Kazakhstan.
Major Crypto Firms Worked with Bitcoin ATM Operators Tied to Scams
Mainstream cryptocurrency companies including Kraken, Gemini, and Cumberland DRW transferred billions of dollars in bitcoin to ATM operators that authorities have repeatedly accused of facilitating scams targeting elderly and vulnerable Americans.