The Crypto Reality Check

In an increasingly digitized world, cryptocurrencies have taken center stage, both for innovation and, shall we say, controversy. U.S. Senator Cynthia Lummis recently highlighted the dark underbelly of digital currency by urging the Justice Department to investigate crypto exchange Binance and the stablecoin Tether in relation to allegations of financing terrorism. It’s like asking your local barista to check if your cappuccino is really just steamed milk or a front for an international coffee cartel.

The Letter That Shaked the Crypto Community

On October 26, Lummis, alongside Arkansas Representative French Hill, penned a letter to U.S. Attorney General Merrick Garland beckoning a swift and decisive action against Binance. They claim that after the appalling Hamas attacks on Israel, these exchanges could be facilitating illicit transactions that indirectly sponsor terrorism.

“The Department of Justice must evaluate the extent to which Binance and Tether are providing material support… to support terrorism,