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Author: Ben

FinTelegram

December 19, 2024

Dubai-Controlled Crypto-Based Underground Banking Scheme Dismantled with €27M in Crypto Seized!

In a law enforcement operation spanning six countries, Europol and law enforcement agencies dismantled an underground banking network linked to drug trafficking and organized crime. The multi-year investigation resulted in nine arrests, the seizure of luxury assets, and an unprecedented €27 million in cryptocurrencies, marking a milestone in the fight against financial crimes in the digital age.

Fintech

December 17, 2024

Klarna Tightens Security with Employee Drug Tests Ahead of Planned IPO

If there was any additional proof needed of the commonplace nature of drugs in the everyday lives of Generation Z: Swedish fintech giant Klarna will introduce alcohol and drug testing for employees in Sweden starting January 2025. The move, part of a broader security initiative, comes as Klarna prepares for its highly anticipated IPO in the United States.

December 15, 2024

Investor Briefing: MicroStrategy’s Nasdaq-100 Inclusion and Bitcoin Strategy and its Implications!

The world's leading corporate investor in Bitcoins, MicroStrategy (MSTR), is set to join the Nasdaq-100 Index on December 23, 2024, following a significant surge in its stock price, driven by substantial Bitcoin investments. This inclusion is expected to attract considerable inflows from index-tracking funds, enhancing the company's market visibility.

Crypto-Trading

December 12, 2024

Stablecoin Sector Surges to $200 Billion Market Cap – A New Milestone

The stablecoin sector has smashed through the $200 billion market cap milestone, fueled by surging demand across crypto markets, payments, and remittances. Key players like Tether and Circle are leading the charge, while innovative yield-bearing tokens are reshaping the landscape. Asset manager Bitwise sees the stablecoin market growing to $400 billion next year.

December 4, 2024

Russia Sentences Hydra Marketplace Founder to Life in Prison!

The founder of Hydra, the notorious dark web drug marketplace, has been sentenced to life in prison by a Moscow court. Stanislav Moiseyev, along with 15 accomplices, faced charges of running a criminal drug enterprise. Their sentences include hefty fines and the confiscation of assets, marking a major crackdown on the dark web's illicit economy.

December 3, 2024

The U.S. Government Gangsters Scheme: The Ridiculous Long List of Governors’ Corruption Cases!

As anticipated, President Joe Biden has granted amnesty to his son Hunter Biden, despite prior assurances to the contrary. This move, while controversial, underscores a deeper issue: the U.S., often hailed as a beacon of democracy, stands as a striking example of systemic corruption. A glance at the lengthy list of convicted or indicted U.S. state governors reads more like a corruption manual than a record of public service.

Bankruptcies

November 29, 2024

Europe’s Largest Motorcycle Manufacturer KTM Files for Insolvency with €1.8 Billion in Debt

Press reports in Austria put the bankruptcy of Stefan Pierer's KTM in the same scandalous category as the collapse of Rene Benko's Signa Group. KTM, Europe's motorcycle giant, crashes into insolvency! Filing reveals a staggering €1.8 billion in debts owed mainly to banks. With 3,623 employees and 2,500 creditors impacted, the fallout could shake the industry.

November 29, 2024

Operation Choke Point 2.0: The Alleged Political Orchestration Behind the Debanking of 30 US Crypto Founders!

Recent revelations have sparked controversy regarding the alleged "debanking" of numerous tech founders in the United States, particularly those involved in the cryptocurrency industry. This issue came to light following comments made by Marc Andreessen, co-founder of Andreessen Horowitz (a16z), during an appearance on the Joe Rogan podcast. Coinbase CEO Brian Armstrong confirmed these debanking allegations on X.

FinTelegram

November 27, 2024

Tether: A Money Laundering Engine for Mexican Cartels, Feds Claim

Tether (USDT) has allegedly become a favored tool for Mexican drug cartels to launder millions, according to unsealed court records. USDT’s connection to narcotics proceeds has even driven its price down in Mexico as law enforcement uncovers the cryptocurrency’s deep ties to global trafficking networks. Unsealed court records expose Tether’s role in laundering millions for Mexican drug cartels.

Cybercrime

November 24, 2024

Cybercrime Crusade: DOJ Takes Down PopeyeTools Marketplace in ‘Operation Shipwrecked’

The U.S. Justice Department (DOJ) dismantles a major cybercrime hub, PopeyeTools, charging three administrators from Pakistan and Afghanistan. The illicit marketplace allegedly facilitated global financial fraud, including ransomware and credit card theft, raking in $1.7 million in revenue. Domains and cryptocurrency linked to the platform were seized, marking a major win in the fight against cybercrime.

November 22, 2024

Investor Briefing: Amazon’s Strategic Investment in Anthropic: A $4 Billion Boost to AI Ambitions!

Amazon has announced an additional $4 billion investment in artificial intelligence startup Anthropic, bringing its total investment to $8 billion. This move significantly strengthens Amazon's position in the rapidly evolving AI sector and highlights the company's commitment to advancing its AI capabilities. Anthropic's Claude competes with OpenAI's ChatGPT and Google's Gemini.

November 21, 2024

SEC Chair Gensler Exits: A Controversial Legacy in Crypto Regulation and Beyond

SEC Chair Gary Gensler's resignation, effective Jan 20, 2025, signals the end of a contentious era marked by criticism from the crypto industry and questions about his regulatory approach. While the SEC touts his reforms, critics argue that Gensler failed to establish a coherent framework for crypto regulation, leaving a regulatory void.

The Unraveling of Rabidi and the Rise of the SoftSwiss Network: Our Updated Forensic Report

A few months ago, FinTelegram released a first forensic report on the bankruptcy of Rabidi N.V., a Curacao-registered online casino operator with hundreds of millions in revenues — and no traceable assets by the time of its collapse in May 2024. That report already raised serious questions about the opaque structures behind Rabidi’s operations and its successor, Liernin Enterprises Ltd.

DeFi Decoded: Smart Contracts – The Code Behind the DeFi Revolution

Smart contracts are the invisible architects of decentralized finance. These self-executing lines of code run everything from token swaps to lending platforms without middlemen. But while they offer autonomy, they also introduce new risks—bugs, exploits, and irreversible mistakes. In this fourth installment of our FinTelegram DeFi Series, we explain what smart contracts are.

CFTC

Despite New Crypto Friendlyness: No Settlement Between U.S. CFTC And KuCoin?

A planned settlement between the U.S.CFTC and crypto exchange KuCoin is now in limbo due to a reported policy shift within the CFTC. This change is attributed to the Trump administration’s new approach, which deprioritizes enforcement actions against crypto companies. As a result, a CFTC attorney said that it is "unlikely that such authorization will be granted in the near term" regarding the settlement approval.

SEC’s New Era: Paul Atkins Sworn In—Will Crypto Finally Get the Regulatory Clarity It Deserves?

The U.S. Securities and Exchange Commission (SEC) has entered a new chapter with the swearing-in of Paul S. Atkins as its 34th Chairman, a move widely anticipated to mark a dramatic pivot in how the agency approaches crypto and DeFi regulation. For years, the financial industry—especially the burgeoning digital asset sector—has bristled under the SEC’s “Regulation by Enforcement” strategy.

Crypto Mogul Changpeng Zhao – Fallen, Rich, and Rising Again?

As spring 2025 blooms and Easter’s themes of rebirth fill the air, Changpeng Zhao emerges as one of the most controversial figures of startup mythology: a man who fell spectacularly, paid a price—then rose again, wealthier and louder than ever. Once the almighty architect of Binance, CZ now resides in Dubai with a net worth that Forbes estimates at $63 billion.