Financial Insights That Matter
STORY: From a French criminal investigation.
To a bullish Czech government.
:: Crypto Weekly
This is Crypto Weekly.
Paris investigators this week announced a probe into money laundering, tax fraud and other charges at Binance.
The world’s largest cryptocurrency exchange has denied the allegations.
The public prosecutor’s office stated the probe includes money laundering in connection with drug trafficking.
And involves offenses committed in France and other EU countries spanning back several years.
Truth Social parent company Trump Media and Technology Group said its board of directors have approved the launch of a financial services and FinTech brand called Truth.Fi.
The company board wants to diversify its cash holdings of over $700 million.
It plans to allocate the funds into options including exchange-traded funds, Bitcoin, and other cryptocurrencies.
Trump Media’s move into finance follows Donald Trump’s election as U.S. president.
And the arrival of several pro-crypto lawmakers in Congress.
A more cautious tone was struck by Fed Reserve Chairman Jerome Powell on Wednesday (Jan.29).
He said the cryptocurrency sector would likely benefit from more rules to govern its conduct.
Powell said the Fed is not against innovation.
But that it would be constructive for Congress to create greater regulation around crypto.
Seemingly less risk-averse was the Czech National Bank.
It’s to consider holding billions of dollars worth of bitcoin in its reserves.
That would represent the first shift into the cryptocurrency by a Western central bank…
who traditionally park their reserves in more conservative assets.
Losing some of its shine this week, Bitcoin fell below $100,000 on Monday (Jan. 27), hitting its lowest level in 11 days.
Analysts attribute the fall to a wave of risk-off sentiment.
That’s after the surging popularity of Chinese artificial intelligence model DeepSeek sparked a selloff in Western AI-related stocks.
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