KuCoin Charged With AML Violations
El Salvador's Bitcoin Holdings At $400M, Tether Launches AI Division
Welcome to Coinfeeds Daily Digest! Today we cover the DOJ charging KuCoin and its founders with a 'multi-billion dollar criminal conspiracy' in allegedly breaking anti-money laundering laws and violating the Bank Secrecy Act where $9 billion of funds were laundered. A '5th richest' Bitcoin whale whose wallet's been asleep since 2019, woke up with a transfer of 94,500 BTC at over $6 billion. Tether is launching its own AI division that will specialize in open-source multimodal models — with jobs already posted, and NEAR has launched a feature that allows multichain transactions from one account. Also, El Salvador's BTC holdings have surpassed $400 million, and a dormant Bitcoin whale wallet transferred $6 billion in BTC.
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KuCoin Charged With 'Multi-Billion Dollar Criminal Conspiracy'
The core of the DOJ's charges against KuCoin revolves around the violation of the Bank Secrecy Act. According to the DOJ, KuCoin failed to establish such a program, which allegedly allowed over $9 billion of suspicious and criminal funds to be laundered through the exchange. This lack of compliance has led to accusations of KuCoin and its founders participating in a criminal conspiracy aimed at undermining U.S. financial laws and regulations. | Read More
El Salvador's Bitcoin Holdings Exceed $400 Million
El Salvador's Bitcoin holdings exceeded $400 million. This development marks a significant milestone in the acceptance and integration of cryptocurrencies into mainstream financial systems. The move to adopt Bitcoin as legal tender was aimed at boosting the country's economy, improving financial inclusion, and reducing reliance on traditional banking systems. | Read More
Bitcoin Whale Moves $6 Billion
The transaction involved moving 94,500 BTC, valued at over $6.05 billion, to three different addresses. This was first highlighted by Arkham Intelligence, which noted the significance of such a large amount being transferred after years of dormancy (was not active since 2019. | Read More
Tether Launches AI Division
Tether, the company behind the widely-used USDT stablecoin, has announced the creation of a dedicated AI division. This strategic development is part of Tether's broader vision to drive innovation and set new standards in the AI sector, particularly focusing on open-source, multimodal AI models. | Read More
NEAR Launches One-Account Multichain Transactions Feature
NEAR Foundation has unveiled a new feature that is set to revolutionize the way users interact with multiple blockchains. This innovative approach, known as Chain Signatures, allows for multichain transactions from a single NEAR account. This development is part of NEAR's broader 'chain abstraction' strategy, aimed at streamlining the user experience in a complex, multichain environment.| Read More