Feds take down Garantex crypto exchange, indict two of its admins
Garantex, a crypto exchange accused of laundering billions for criminal and terrorist organizations, was shut down by the US Department of Justice, Germany, and Finland.
US charges admins of Garantex for allegedly facilitating crypto money laundering for terrorists and hackers
The U.S. Department of Justice announced on Friday criminal charges against the administrators of the Russian cryptocurrency exchange Garantex for allegedly facilitating money laundering by criminal and terrorist organizations, as well as violating U.S. sanctions. The two administrators are Lithuanian national and Russian resident Aleksej Besciokov, 46, and Aleksandr Mira Serda, 40, a Russian national residing in the United Arab Emirates, who “knew that criminal proceeds were being laundered thr
Fed expected to cut rates in June as jobs data raises potential red flags
U.S. job growth picked up in February, the Labor Department reported on Friday, with employers adding 151,000 jobs. Waller and other Fed officials have said a strong labor market for now allows the central bank to keep its benchmark overnight interest rate in the 4.25%-4.50% range as it waits for more progress on inflation, which remains above the 2% goal. But the latest jobs report also showed the unemployment rate ticked up to 4.1% and the number of people settling for part-time work because they couldn't find a full-time position also rose sharply, pushing up a broader measure of unemployment known as the U-6 to 8%, the highest level for this measure of underemployment since October 2021.
Here’s why the price of Bitcoin dropped right after Trump created a strategic crypto reserve
The crypto reserve order “fell short of creating the extra market demand that many had hoped for.”
Solana dips after Trump administration's crypto reserve announcement
Anatoly Yakovenko, Solana’s co-founder, recently expressed discontent with Solana's possible inclusion in a crypto reserve.
Fed holding rates steady while gauging impact from Trump tariffs: Powell
Inflation will probably continue to follow a “bumpy” path down to the central bank’s 2% target, Fed Chair Jerome Powell said.
Fed's Williams: Data points to stable inflation expectations
Federal Reserve Bank of New York President John Williams said on Friday that so far there’s no evidence that inflation expectations are starting to run into any form of trouble. Based on recent data, “there is no sign of inflation expectations becoming unmoored at any forecast horizon relative to the pre-pandemic period,” Williams said in the text of remarks to be presented at the U.S. Monetary Policy Forum in New York. Williams, who spoke earlier this week in comments that highlighted no near-term need to change the current setting of monetary policy in an environment where trade tariffs may add to future inflation, did not comment on the monetary policy and economic outlook.
Second-hand Teslas flood the market as Elon Musk faces British backlash
British drivers are offloading Teslas in record numbers amid a political backlash against Elon Musk, the company’s chief executive.
Fed’s Bowman Says Economy’s Neutral Rate Higher Since Covid
(Bloomberg) -- Federal Reserve Governor Michelle Bowman said the neutral level for the central bank’s policy rate had likely risen since the Covid-19 pandemic.Most Read from BloombergTrump Administration Plans to Eliminate Dozens of Housing OfficesNJ College to Merge With State School After Financial StressRepublican Mayor Braces for Tariffs: ‘We Didn’t Budget for This’How Upzoning in Cambridge Broke the YIMBY MoldNYC’s Finances Are Sinking With Gauge Falling to 11-Year LowBowman said several fa
Eurozone economy grows marginally, boosted by household spending
The eurozone economy saw a slight rise in the last quarter of 2024, although major economies such as France and Germany continued to lag.View on euronews