Balaji Srinivasan argues that in the era of AI, money will become cryptocurrency, providing digital scarcity to complement AI’s digital abundance. “AI is digital abundance but it doesn’t make everything abundant. Crypto is digital scarcity and complements AI’s abundance. So money after AI is crypto,” he detailed. ‘Money Itself Becomes Cryptocurrency’ Balaji Srinivasan, a prominent […]
The U.S. DOJ has charged the CFO of a media company with one count of money laundering and two counts of bank fraud for participating in a scheme that laundered criminal proceeds using cryptocurrency. Authorities allege that Weidong Guan and his accomplices used bank accounts opened with stolen personal identification information to transfer the funds […]
Hong Kong police have arrested three men at a currency exchange shop in Tsim Sha Tsui, a major tourist area, for allegedly presenting “hell money” to a customer, leading the customer to transfer approximately HK$ 1 million ($ 128,206) worth of cryptocurrency in exchange for cash. The suspects, aged between 31 and 34, …
Binance’s Financial Crimes Compliance Department recently collaborated with Taiwan’s Ministry of Justice Investigation Bureau and the Taipei District Prosecutors Office on a significant cryptocurrency-assisted money laundering case involving nearly NT$ 200 million (approximately US$ 6 million). The criminal operation had been laundering money through virtual assets by creating fake customer records and forged …
The Ontario Securities Commission (OSC) announced on May 15 that two Ontario residents have been charged with offenses under the Criminal Code of Canada as part of Project Swan, a joint investigation by the Durham Regional Police Service (DRPS) and the OSC. Aiden Pleterski, self-proclaimed “Crypto King,” is charged with fraud over $ 5,000 …