Weekly Highlights
Bitcoin’s Role in National Security — CIA’s Deputy Director
The Central Intelligence Agency (CIA) is increasingly using Bitcoin in its operations, with the agency’s deputy director, Michael Ellis, emphasizing that managing cryptocurrency is crucial for national security during a recent appearance on The Pomp Podcast hosted by Anthony Pompliano.
Ellis noted that the agency collaborates with law enforcement to monitor Bitcoin transactions and views it as an essential data point in counter-intelligence activities. He stated, “Bitcoin is here to stay — cryptocurrency is here to stay,” highlighting increasing institutional adoption.
Kraken Unveils North Korean Hacker Incident
Kraken, a US crypto exchange, spoke about a North Korean hacker’s job application attempt to infiltrate the company. The routine interview quickly evolved into a gathering of intelligence, as the applicant raised multiple red flags by presenting themselves with a different name and altering their voice during the conversation.
Instead of rejecting the candidate outright, Kraken decided to continue with the interview process to gather valuable insights into their approach.
EU Proposes Ban on Anonymous Crypto Accounts by 2027
The European Union plans to enforce comprehensive Anti-Money Laundering (AML) regulations that would outlaw anonymous cryptocurrency accounts and privacy-centric tokens, effective 2027. The forthcoming Anti-Money Laundering Regulation (AMLR) forbids financial institutions and crypto service providers from facilitating anonymous accounts or managing cryptocurrencies like Monero and Zcash.
Ether Compared to Memecoins Amid Price Drop
Ether’s price decline has prompted the US investment firm Two Prime to pivot to a Bitcoin-only strategy, as it deems Ether’s trading patterns and community culture unsustainable. The company has lent a significant amount in both Bitcoin and Ether over the last 15 months but will now focus solely on Bitcoin asset management.
Movement Labs Co-Founder Suspended Over Market Deal
Movement Labs has suspended its co-founder, Rushi Manche, due to issues surrounding a market-making deal he brokered. The move comes after Coinbase halted trading for the Movement Network (MOVE) token for not meeting listing standards. A third-party review by the Movement Network Foundation into Manche’s agreement with the market maker Web3Port is currently in progress.
Market Overview
As the week wraps up, Bitcoin (BTC) is priced at $96,615, Ether (ETH) at $1,835, with XRP at $2.20. The total market capitalization stands at $3.01 trillion, according to CoinMarketCap.
