- CoinGape's Newsletter
- Posts
- 🚨 Is Crypto Really to Blame for Money Laundering? Ripple CEO Weighs In
🚨 Is Crypto Really to Blame for Money Laundering? Ripple CEO Weighs In
CoinGape Media
September 10, 2024
News
Ripple CLO Stuart Alderoty says money laundering is wider issue, the Fed and the US SEC can't scapegoat crypto for it, XRP community reacts.
Stuart Alderoty, chief legal officer (CLO) of Ripple Labs, on Tuesday expressed concerns over the US Federal Reserve and the U.S. SEC scapegoat crypto for money laundering. Ripple CLO pointed out that traditional finance systems, including the NY Federal Reserve, have also experienced hundreds of millions of dollars of illicit transfers to terrorist groups. XRP community reacts to Alderoty slamming the Operation Choke Point 2.0 protagonists.
John Deaton accused Massachusetts Senator Warren for her anti-crypto stance adding bitcoin contribute to less than 1% of illicit transactions
John Deaton, the Republican nominee from Massachusetts, has lashed out fresh attacks on existing Senator Elizabeth Warren over her criticism of the crypto industry and instead lobbying for the banking industry. Deaton shares statistics on how crypto is less used for illicit transactions and how the top banks, instead, have facilitated hundreds of millions of dollars in money laundering.
The cryptocurrency world is unimaginably exciting. For many, it may be a hype thing to say, but those who have the full experience will completely agree. Let’s quote a fact to support this statement – cryptocurrency exchanges offer free cryptos for beginners to embark on their fresh journey on their platform. These bonuses, or free cryptos, are coined as crypto signup bonuses.
Markets
BTC & Altcoins prices spark optimism, maintaining a pump ahead of the US CPI and FOMC looming over the market.
The broader market witnessed a remarkable upward movement today, fueling investor optimism globally. Bitcoin (BTC) price pumped to briefly top the $58K mark, whilst Ethereum (ETH), Solana (SOL), and XRP traded dominantly in the green zone. The global crypto market cap soared 2.5% over the past day to reach $2 trillion today. Simultaneously, the total market volume saw a 47.81% increase to $68.99 billion.
Veteran trader Peter Brandt has predicted that Bitcoin will hit a bull market high of $150,000 in this market cycle.
Veteran trader Peter Brandt has predicted a bull market high for Bitcoin, suggesting that the flagship crypto will rise to $150,000 by 2025. This aligns with a similar prediction that Bernstein analysts made for BTC’s price earlier in the year. This bullish prediction for the crypto comes amid a recent recovery to as high as $58,000, with crypto analysts weighing on whether this is a relief bounce or a bullish reversal.
Analyst Benjamin Cowen bearish in Ethereum news predicting a drop in ETH price to $1,200 by December 2024 due to similar past patterns.
Analyst Benjamin Cowen has recently expressed concerns over Ethereum’s price trajectory, predicting a significant downturn to approximately $1,200 by December 2024. This forecast is based on a detailed analysis of Ethereum price patterns, which appear to be forming a wedge similar to the one observed in 2019. This historical parallel suggests that Ethereum could be poised for a similar downturn.