US Jury Convicts Two in $8M Crypto-Linked Dark Web Drug Scheme

May 29, 2024 Bitcoin.com

US Jury Convicts Two in M Crypto-Linked Dark Web Drug Scheme

Bitcoin

A federal jury in Salt Lake City convicted Oluwole Adegboruwa and Enrique Isong, foreign nationals, of multiple drug-related charges. From 2016 to 2019, they generated over $8 million in cryptocurrency, including bitcoin and ethereum. Adegboruwa operated under the names “King Odua” and “Alagbada726,” converting cryptocurrencies to traditional currency. Sentencing is scheduled for August. The jury […]

Roaring Kitty GME class action lawsuit dropped after 3 days

DOJ Captures Alleged ‘Architect’ of Darknet Marketplace Incognito

May 21, 2024 Bitcoin.com

bitcoin.com

According to the U.S. Department of Justice (DOJ), the operator of the darknet marketplace Incognito was apprehended at John F. Kennedy Airport on May 18. Law enforcement officials claim Rui-Siang Lin allegedly constructed the DNM and facilitated the sale of over $100 million worth of illegal drugs through the platform. Federal Authorities Nab Alleged Darknet […]

Roaring Kitty GME class action lawsuit dropped after 3 days

Cartier Family Member Indicted for Using USDT to Launder Hundreds of Millions in Drug Trafficking Money

May 7, 2024 Bitcoin.com

bitcoin.com

Maximilien De Hoop Cartier, a descendant of the family famous for their French luxury goods Cartier, has been indicted for his participation in a network that allegedly used several shell companies to launder drug trafficking money proceeds using USDT. Cartier and five Colombian individuals allegedly conspired to directly launder $14.5 million and used these shell […]

Roaring Kitty GME class action lawsuit dropped after 3 days

Crypto is for criminals? JPMorgan has been fined $39B and has its own token

December 7, 2023 Coin Telegraph

Crypto is for criminals? JPMorgan has been fined B and has its own token

Banking Violations

Crypto proponents on X wasted no time pointing out the hypocrisy of JP Morgan CEO Jamie Dimon’s recent remarks to the United States Banking Committee about Bitcoin and crypto.

JPMorgan CEO Jamie Dimon is being hauled over the hot coals on crypto X (Twitter) after claiming Bitcoin (BTC) and cryptocurrency's “only true use case” is to facilitate crime.

“The only true use case for it is criminals, drug traffickers, money laundering, tax avoidance,” Dimon said in a hearing before the United States Banking Committee on Dec. 5. "If I were the government, I'd close it down."

But crypto pundits quickly pointed out the seeming hypocrisy in Dimon’s statements, highlighting that JPMorgan is the second largest penalized bank, having paid $39.3 billion in fines across 272 violations since 2000, according to Good Jobs First’s violation tracker.

Drug Trafficking

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