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For the first time in nearly 30 years, the US and Japan have joined forces to buy yen, with a memo from the US Treasury Secretary revealing plans to purchase 5-10 billion dollars

A photo taken by Reuters shows U.S. Treasury Secretary Janet Yellen attending a cabinet meeting with President Trump at Camp David on Friday local time, where a "to-do list" on her notepad was exposed, stating "Buy yen 5-10 billion."The photo was taken during a media-accessible portion of the meeting, at 11:33 AM Eastern Time (11:33 PM Beijing Time). Yellen's name tag was conveniently located at the top of the notepad, clearly visible. A spokesperson for the U.S. Treasury Department did not respond to requests for comments regarding the contents of the notepad or whether intervention measures had been taken on Friday.According to the Financial Times, the U.S. Treasury intervened in the yen exchange rate on Friday local time, marking the first joint effort by the U.S. and Japan in nearly 30 years to support the yen through direct purchase operations. Three informed sources revealed that the New York Fed executed an unusual operation on behalf of the Treasury—selling euros to buy yen, with two of the sources stating that the transactions were completed through Goldman Sachs and Morgan Stanley.Prior to the action, the U.S. Treasury had informed several Wall Street banks that it was considering intervening in the yen. The last time the U.S. Treasury intervened in the yen was back in 2011, but at that time, the direction was to sell yen.

The U.S. Treasury Secretary urges the Senate to vote on the Clarity Act immediately and cites Satoshi Nakamoto

U.S. Treasury Secretary Scott Bessent urged the Senate on Thursday to pass the Clarity Act, stating that the House of Representatives passed the bill over a year ago, and staff from the Senate Banking and Agriculture Committees have since engaged in thousands of hours of bipartisan negotiations on the revisions. Bessent stated that the bill will strengthen consumer protections and anti-money laundering requirements, and provide regulatory certainty for digital assets. He also mentioned that the Blockchain Regulatory Certainty Act provisions in the Clarity Act will protect decentralized software developers, clarifying that they are not subject to the registration requirements of the Bank Secrecy Act.Bessent criticized Senate Democrats for delaying the vote for political reasons, stating that the relevant vote will determine whether the U.S. continues to maintain its global leadership in digital assets. At the end of his post, he quoted Bitcoin creator Satoshi Nakamoto: "If you don't believe me or don't understand, I don't have time to try to convince you, sorry." The Clarity Act aims to establish a federal framework for the U.S. digital asset market and allocate regulatory responsibilities for digital assets to the SEC and CFTC, with most crypto assets typically falling under CFTC jurisdiction. Senate Majority Leader John Thune recently stated that the bill is not expected to pass the Senate before the August recess.

The U.S. Secret Service recovered over $25 million in cryptocurrency through five investigations

According to Bitcoin.com, the U.S. Attorney's Office for the District of Columbia and the U.S. Secret Service Washington Field Office announced that a cyber fraud task force has seized over $25 million in cryptocurrency as part of multiple investigations related to international fraud schemes targeting residents of the United States and Canada. The U.S. Attorney for the District of Columbia has filed five civil forfeiture complaints seeking the forfeiture of the recovered cryptocurrency.Investigators have confirmed multiple money laundering networks and thousands of victims globally, with the largest complaint involving a romance scam affecting over 200 victims, totaling approximately $12.1 million. Another complaint involves a network of suspicious cryptocurrency wallets reported by Canadian authorities to the U.S. Secret Service, amounting to about $10.4 million.Agents tracked over 270 suspected victim transactions related to fraudulent investment platforms, with these two cases accounting for approximately 85% of the assets involved in the five forfeiture complaints. The remaining cases involve blocked withdrawals, fake investment accounts, and recovery of fraud. Investigators stated that most suspected money launderers are located in Southeast Asia and identified internet protocol addresses associated with China, Malaysia, and Cambodia; the five investigations are still ongoing.
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