This week, a chapter closed on one of the more outlandish crypto crimes we’ve seen (which is saying a lot for crypto): a couple of internet influencers pulled off a massive crypto heist that fueled their lavish lifestyle, leading to the Department of Justice’s largest asset seizure in history.
The Chicago Mercantile Exchange (CME) has just gotten approval from the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC) to become the first exchange to buy and sell commodities with and for the same customers who trade on its exchange.
Last week, the Consumer Financial Protection Bureau (CFPB) ordered the largest credit union in the United States to stop charging its customers illegal overdraft fees. Navy Federal Credit Union has been ordered to refund $80 million back to its customers, many of whom are active duty servicemembers, veterans, and Department of Defense civilian employees. Additionally, the credit union must pay a $15 million penalty to the agency’s victims relief fund.
Last month’s settlement agreement with Invitation Homes confirms what their tenants have been telling us: our country’s largest landlord of single family homes has a consistent track record of ripping off its tenants.
Crypto tycoons are storming into U.S. politics and attempting to reshape how we choose our elected officials. And the industry remains mostly controlled by a small group of very wealthy people even though fewer than one-sixth of people have ever owned any cryptocurrency. But crypto tycoons are pouring money into politics, aiming to bypass regulatory oversight, consolidate their power, and restructure American politics for their own benefit.
Rethinking Remittances When Changing a Little Changes a Lot The United States is one of the top sources of remittances in the world, with $79.15 billion in remittances sent to family and friends outside the country in 2022 alone. Despite this huge volume, the costs of remittances remain alarmingly high. In the last three years,