Two days in the past, U.S. president Joe Biden was criticized for claiming inflation in America hasn’t elevated throughout the previous few months. “I’m telling the American people who we’re going to get management of inflation,” Biden confused throughout his “60 Minutes” interview that aired on Sunday night time. Amid Biden’s claims, forward of the subsequent Federal Reserve assembly on Wednesday, the U.S. Greenback Index (DXY) crept as much as the 110.776 area. In the meantime, a latest report revealed by CCP-backed International Instances is urgent for de-dollarization because the U.S. greenback’s rise “is likely to be the start of one other nightmare” for “many nations on this planet.”
Inflation has been terrible in the USA however U.S. president Joe Biden has advised the American individuals it is going to be tamed. His commentary throughout a “60 Minutes” interview was aired just a few days earlier than the Federal Reserve meets to hike the benchmark rate of interest by 75 or 100 foundation factors (bps).
Biden took a number of flak from economists and market strategists after he famous that he believes the nation’s inflation price hasn’t spiked for months. Moreover, the U.S. president has been taking satisfaction in the truth that America’s gasoline costs have dipped.
“Of us, gasoline costs at the moment are again to ranges they have been at in early March,” Biden tweeted on Tuesday. “Which means almost the entire will increase for the reason that starting of Russia’s battle in Ukraine have been worn out.”
Nevertheless, the Biden administration hasn’t actually defined why gasoline costs have dropped amid the Ukraine-Russia battle and the best inflation in 40 years. The U.S. president has failed to say that petroleum costs within the U.S. have dropped as a result of he’s been tapping into the U.S. Strategic Petroleum Reserve (SPR). Whereas Biden mentions gasoline costs are again to ranges they have been at in early March, he forgets to say that the administration began draining the SPR on March 31, 2022.
In truth, the SPR is at its “lowest stage since 1984,” in keeping with varied reviews revealed nationwide. The Ukraine-Russia battle remains to be ongoing and Europe remains to be coping with a major vitality disaster. Whereas Biden has complained about carbon emissions the SPR has shrunk from 640 million barrels of oil to 450 million barrels. Moreover, regardless of the U.S. funneling billions to Ukraine, Russian president Vladimir Putin detailed this week that he’s not backing down, vowing to make use of “all means accessible” to win.
Furthermore, a CCP-backed International Instances opinion editorial is urging international nations to lean towards de-dollarization because the rising greenback might grow to be “the start of one other nightmare.” The editorial was revealed the day earlier than the U.S. Federal Reserve meets to boost the federal funds price. “A brilliant sturdy U.S. greenback and the autumn of different currencies will, to a sure extent, ease the scorching inflation within the U.S. financial system, however the world should pay for it,” the International Instances says.
Because the finish of World Battle II and the beginning of the Bretton Woods settlement, the International Instances opinion piece writer claims U.S. bureaucrats have dedicated “monetary looting” and have exported crises to international nations. After the U.S. Greenback Index (DXY) dropped for 3 consecutive days, the DXY has risen on Wednesday to 110.776 forward of the Fed’s assembly.
The DXY is a gauge towards six main fiat currencies and throughout the previous few months, the buck has been stronger than ever. The International Instances editorial says America’s issues won’t be solved by the Fed and Washington as a result of these entities will not be keen to see the “root trigger.”
“If individuals dig the basis trigger, that is an inevitable consequence of U.S.’ blind and limitless cash printing to quickly keep ‘prosperity,’” the opinion editorial notes. “In different phrases, within the face of the deep-seated issues uncovered by the 2008 monetary disaster, Washington has been powerless, and unwilling as properly, to unravel them.” The writer provides:
Whereas the political elites in Washington boast of the ‘fable of the American system’ and take credit score for ‘assuaging the disaster,’ hundreds of poor households all over the world are being trampled by them.
What do you consider Biden’s declare relating to gasoline costs within the U.S. whereas he depletes the SPR? What do you consider the editorial revealed by Chinese language state media that argues a robust greenback might be a nightmare for international nations? Tell us your ideas about this topic within the feedback part beneath.
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Scammers stole millions of dollars in cryptocurrency from remote job seekers in an elaborate scheme. New York Attorney General Letitia James has filed a lawsuit to recover over $2 million that she said was stolen from New Yorkers and others nationwide.
Scammers used unsolicited text messages to lure victims with promises of flexible, well-paying remote work opportunities. They claimed the job involved reviewing products online to generate market data. However, victims were told to open cryptocurrency accounts and maintain balances matching the price of products they were reviewing.
While victims believed they would receive their investments plus commissions, the funds were instead transferred into the scammers’ crypto wallets. The fake product reviews took place on a fraudulent website created as part of the scheme.
The lawsuit details seven people who were scammed. One victim, a New Yorker, lost over $100,000 while another victim from Florida lost over $300,000. These cases show the significant financial and emotional impact on the victims.
James’ office, working with Queens District Attorney Melinda Katz and her cryptocurrency unit, traced the stolen funds to specific digital wallets. Over $2 million in cryptocurrency has been frozen, ensuring it can be returned to victims.
“Deceiving individuals seeking remote work is cruel and unacceptable,” said James. “We’re committed to holding scammers accountable and recovering stolen funds.”
A federal grand jury in Georgia recently indicted three Russian nationals for their involvement in running illegal cryptocurrency mixer services that helped criminals launder money. The indictment, announced on January 7, 2025, involves Roman Vitalyevich Ostapenko, Alexander Evgenievich Oleynik, and Anton Vyachslavovich Tarasov. These individuals are accused of operating two online services called Blender.io and Sinbad.io, which helped criminals hide the source of their illegal funds.
A cryptocurrency mixer is a tool used to mix cryptocurrencies like Bitcoin, making it harder for authorities to trace the origin of digital money. These services are attractive to criminals involved in activities such as ransomware attacks and fraud, as they allow them to send funds anonymously.
Ostapenko and Oleynik were arrested in December 2024, while Tarasov is still on the run. The three men face serious charges related to money laundering and operating unlicensed financial businesses. If convicted, they could face up to 20 years in prison for laundering money and up to five years for running an unlicensed business. The indictment follows the earlier shutdown of the Sinbad.io service after it was seized by law enforcement in 2023.
Blender.io and Sinbad.io were both cryptocurrency mixers, meaning they offered a way to send digital money anonymously. For a fee, these services allowed criminals to send their funds without revealing where the money came from. This feature made these mixers attractive to those who wanted to hide stolen funds or profits from illegal activities, such as ransomware attacks, fraud, and even theft of virtual currencies.
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Blender.io operated from 2018 to 2022 and was known for its promise of anonymity. It advertised a “No Logs Policy,” meaning it claimed to have no records of transactions. The site also reassured users that no personal details were needed to use the service. This allowed criminals to send and receive Bitcoin without leaving a trace of their identity.
After Blender.io was shut down in 2022, the defendants launched Sinbad.io, which offered similar services. This service continued until law enforcement authorities took it down in November 2023, marking a significant victory in the fight against cybercrime. The shutdowns of both services were the result of coordinated efforts by authorities from several countries, including the U.S., the Netherlands, Finland, and Australia.
Both Blender.io and Sinbad.io were not only used by ordinary criminals but were also linked to state-sponsored hacking groups. For instance, Blender.io was used by North Korean hackers to launder funds stolen through cyberattacks. Similarly, Sinbad.io had connections to cybercriminals who targeted businesses and individuals. These cryptocurrency mixers served as a vital tool in helping these criminals profit from their illegal activities, making it harder for authorities to trace the stolen money back to its original source.
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The investigation into Blender.io and Sinbad.io showcases the power of international cooperation in tackling cybercrime. The indictment was made possible by the joint efforts of law enforcement agencies from different countries, including the U.S. Department of Justice, the FBI, the Netherlands’ Financial Intelligence Service, and Finland’s National Bureau of Investigation. Their collaboration helped track down the operators of these illegal services and ultimately led to their takedown.
In addition to the U.S. authorities, international agencies like the Australian Federal Police and Finland’s National Bureau of Investigation played key roles in the investigation. Their contributions were essential in identifying the people responsible for running these cryptocurrency mixers and disrupting their illegal activities.
The importance of international cooperation cannot be overstated. Cybercrime often crosses national borders, and without the efforts of multiple countries working together, it would be much harder to stop these crimes. The arrests of Ostapenko and Oleynik, along with the ongoing search for Tarasov, send a strong message to cybercriminals around the world: law enforcement agencies are committed to identifying and holding accountable those who operate illicit financial networks.
This case highlights how dangerous these cryptocurrency mixers can be in enabling serious criminal activities. By breaking down these networks, authorities are making it harder for criminals to profit from their wrongdoing, while also protecting public safety and national security.
To read the original order please visit DOJ website
A Wisconsin congressman will head the House Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence.
Bryan Steil, a Republican representing the 1st Congressional District in southeast Wisconsin, was appointed to the role Thursday.
His subcommittee’s jurisdiction includes things like mobile banking and non-fungible tokens, or NFTs. It’ll also be the first stop for legislation on cryptocurrency.
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Digital currencies have a murky federal regulatory status. That allowed President Joe Biden’s Securities and Exchange Commission Chair Gary Gensler to go after the crypto industry.
The industry responded by spending over $130 million in 2024’s election cycle through its PAC, Fairshake.
It spent $764,206 to independently help re-elect Steil, according to campaign finance database OpenSecrets.
In a statement, Steil said “technologies like financial apps, digital assets, and machine learning revolutionize our economy,” adding that he looks forward to continuing “to provide the rules of the road to move our economy into the future.”
Steil was appointed to his new role by House Financial Services Chair French Hill, R-Arkansas. Hill’s top campaign contributors include the CEOs of the crypto exchange platform Coinbase and the Charles Schwab Corporation.
One of his legislative priorities has been a bill that would set up clearer, crypto-friendly federal financial regulations, which passed the House with bipartisan support in May. He called Steil “instrumental” in passing that bill, and in overturning an SEC rule requiring crypto exchanges to list their digital assets as liabilities on their balance sheets.
Now, the Janesville native will oversee hearings and votes on new crypto-related legislation.
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