#crypto Timeline

287d

Hhehehe

Credit: The New Yorker cartoons

Comic of a person talking to another person at a coworking space. Caption reads: “Can you go through all the old pitch decks and replace the word ‘crypto’ with ‘A.I.’?”

161d

i posted a very long 🧵 on the birdbrain site about how #Chainalysis basically exists to provide "analysis" to the FBI/CIA/etc. that "proves" that there's actually not that much crime in crypto.

As someone with a long background in data work at a high level i usually just call this kind of thing #scamalytics but while everything about this this report is top grade scamalytics I also came up with a new name:

"Minimize and Legitimize"

Unlike most of the scamalytics companies¹ Chainalysis obviously does employ some real data scientists doing the right thing who repeatedly get overruled by the PR team & C-suite.

Anyways their new report on the state of #crypto crime in 2024 takes minimize & legitimize to brave new heights. Posting 4 screenshots here but sadly you'll have to go there to read bc it's long. Sorry.

https://x.com/Cryptadamist/status/1829330368727744537

ps Chainalysis is yet another co. in the #a16z / #Trump portfolio.

¹ I've seen these companies up close. The level of incompetence is breathtaking.

Just read #Chainalysis "2024 Crypto Crime Mid-Year Report". Obvs they have a habit of minimizing crypto crime stats but reading closely I realized this is kinda nuts. So nuts I that we need new rhyme akin to "pump & dump" vein. I give you:

"Minimize & Legitimize"

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162d

1. #Telegram's blockchain crashed again.

2. the #TON token that drives this chain (and is only usable when the chain has *not* crashed) has a market cap of ~$14 billion.

3. the chain crashed (again) because of a dog themed memecoin called #DOGS (again).

that is all.

#TonNetwork #PavelDurov #Durov #crypto #cryptocurrency #Memecoin

TON @ % @ton_blockchain Block production on TON experiencing further disruption Block production issues began at 19:19 UTC. The disruption appears to be due to heavy load attributed to DOGS token minting. TON Core is working on a solution. We will continue to update you on the situation as it evolves. User crypto assets are not at risk. 1:08 PM - Aug 28, 2024 - 34K Views

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155d

#InfluencerGate:

oh look the russian agents trying to influence the election are using #cryptocurrency (this is my not-shocked-at-all face)

also popular YouTube influencers Lauren Southern, Tim Pool, #LaurenChen, and one of Benny Johnson/Dave Rubin "unknowingly" agreed to work for Russia for large sums of money ($100,000 per youtube video or a few million/year): https://x.com/ariehkovler/status/1831413692409487766

in particular the russian agents seem to have moved money through #Lithuania and used #BitPay to buy domains. i wrote a bunch about the Lithuanian central bank's attempts to shut down Russian money last year; it's here (an US company Crypto[.]com is involved): https://cryptadamus.substack.com/p/cryptocom-or-crypto-dot-con

DOJ affidavit: https://www.justice.gov/d9/2024-09/doppelganger_affidavit_9.4.24.pdf

taking bets on whether Virtual Currency Exchange 1 ("VCE-1") is #Binance or #CryptoCom

#crypto #russia #uspol #election2024 #2024election #Trump #DonaldTrump #Putin #ukraine #VladímirPutin #TimPool #BennyJohnson #LaurenSouthern #DaveRubin #ChangeNow #TenetMedia #Politics #MAGA

cryptocurrency by using services like ChangeNOW and cryptocurrency mixing algorithms to obfuscate the originating cryptocurrency wallet used in their transactions.

80. Based on the commercially available cryptocurrency analysis tools?’ and analysis by an FBI cryptocurrency subject matter expert, these personas’ cryptocurrency transactions with NameSilo and Namecheap show that the transactions originated with a cluster of cryptocurrency wallets. In this case, the FBI determined that the aforementioned cluster of wallets was funded by an account at a virtual currency exchange (“VCE-17).2

81. Records received from VCE-1 pursuant to legal process revealed that the funding account belonged to an individual referred to herein as “Konstantin”.?° Those records showed that Konstantin provided Russian identification documents to VCE-1 and only accessed his account at 7 While the identity of the address owner is generally anonymous, law enforcement may be able to ascertain information about the identity of the owner of a particular address by analyzing the Blockchain. The analysis can also reveal additional addresses controlled by the same individual or entity. For example, a user or business may create many addresses to receive payments from different customers. When the user wants to transact the cryptocurrency that it has received, it may group those addresses together to send a single transaction. Law enforcement uses sophisticated, commercial services offered by several

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165d

food for thought re: Pavel Durov and #Telegram from one of the world's more famously correct cynics

(not sure i or jim chanos believe this but it definitely deserves to be considered given the totality of the circumstances)

#PavelDurov #Toncoin #Ton #France #Russia #RussiaUkraineWar #Ukraine #UkraineWar #Durov #FreeDurov #crypto #cryptocurrency

The other possibility is that Telegram was fully compromised by Western Intelligence some time ago, the Russians realized it, and Durov fled to be “arrested” for his own protection.
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Yaroslav Azhnyuk / Ярослав Ажнюк
@YaroslavAzhnyuk
·
16h
I'm still puzzled why Durov went to France. He's a smart and paranoid guy. He knew there was a warrant for his arrest, only valid in 🇫🇷. So many other countries where he could've refueled. And this happens days after his potential meeting with Putin in Azerbaijan 🤔 1/X

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252d

Cryptocurrency companies have raised over $115 million to influence US elections this cycle, and they’re just getting started. We need to closely watch how cryptocurrency companies are influencing US politics. https://www.citationneeded.news/2024-cryptocurrency-election-spending/

#crypto #cryptocurrency #newsletter #CitationNeeded #superPACs #USpolitics #lobbying

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244d

Newsletter: Are US legislators and regulators warming to crypto? Also, someone lights himself on fire to promote a memecoin. https://www.citationneeded.news/issue-59/

#crypto #cryptocurrency #newsletter #CitationNeeded

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227d

Newsletter: The crypto industry jumps on the Trump train, and other recent events in the crypto world.

https://www.citationneeded.news/issue-60/

#newsletter #cryptocurrency #crypto #CitationNeeded #USPolitics

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216d

How will recent Supreme Court decisions affect the crypto world? Also, more absurdity from the crypto lobby, and some new regulatory actions. Catch up in my latest newsletter: https://www.citationneeded.news/issue-61/

#crypto #cryptocurrency #CitationNeeded #newsletter #USpolitics

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209d

It’s finally time to release my newest project: https://www.followthecrypto.org/

This website provides a real-time lens into the cryptocurrency industry’s efforts to influence 2024 elections in the United States.

#crypto #cryptocurrency #elections #USpol #lobbying

A screenshot of the front page of FollowTheCrypto.org, showing total amounts raised by crypto-currency focused PACs ($203 million) and amounts spent ($38 million). There are also graphs showing expenditures by political party, and expenditures by PAC. There is a list of the top elections influenced by crypto industry money, of the most highly-funded super PACs overall, and of recent expenditures by crypto-focused committees.

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198d

An extra long newsletter today, because things have been about as wacky in crypto as everywhere else. Featured: Coinbase’s Stand With Crypto Alliance fudges the numbers, a (former) industry CEO has a meltdown, and an exchange suffers a nine-figure hack.
https://www.citationneeded.news/issue-62/

#crypto #cryptocurrency #USpolitics #CitationNeeded

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191d

SCOOP: Coinbase appears to have violated campaign finance laws with a $25 million donation to the Fairshake cryptocurrency super PAC, made while they were in active negotiations for a federal government contract.

https://www.citationneeded.news/coinbase-campaign-finance-violation/

#CitationNeeded #Fairshake #Coinbase #USpolitics #USpol #crypto #cryptocurrency

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192d

The cryptocurrency industry has been working overtime to sell a story: that there is a large contingent of voters voting based on candidates’ crypto policy stances. The problem is, it’s a story that does not seem to be well supported by data.

https://www.citationneeded.news/when-did-cryptocurrency-become-a-voter-issue/

#CitationNeeded #crypto #CryptoLobby #USpolitics #USpol

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185d

Last week, Public Citizen’s Rick Claypool and I filed a complaint with the Federal Election Commission based on my research into apparent campaign finance violations by the Coinbase cryptocurrency exchange.

Read the full complaint and my updated article.

Complaint: https://www.citizen.org/article/coinbase-fec-complaint/

Updated article: https://www.citationneeded.news/coinbase-campaign-finance-violation/

#crypto #cryptocurrency #Coinbase #Fairshake #USpol #USpolitics

COMPLAINT
Coinbase, Inc. (“Coinbase”) is a cryptocurrency platform offering exchange, custody, and trading services. On March 20, 2024, Coinbase made a $500,000 contribution to the Congressional Leadership Fund (ID: C00504530), a hybrid PAC. On May 30, 2024, Coinbase made a $24,999,995 contribution to Fairshake (ID: C00835959), a super PAC. At the time of both contributions, Coinbase was negotiating a contract with the United States Marshals Service, a federal agency. In making these contributions of approximately $25.5 million, Coinbase violated federal campaign finance laws that expressly prohibit federal contractors from making contributions to political committees while negotiating or performing federal contracts.
This complaint is filed pursuant to 52 U.S.C. § 30109(a)(1) and is based on information and belief that Coinbase violated the Federal Election Campaign Act of 1971 (“FECA”) prohibition on federal contractor contributions.
If the Federal Election Commission (“FEC” or “Commission”), “upon receiving a complaint . . . has reason to believe that a person has committed, or is about to commit, a violation of [the Federal Election Campaign Act] . . . . [t]he Commission shall make an investigation of such alleged violation . . . .” 52 U.S.C. § 30109(a)(2) (emphasis added).
BACKGROUND
FECA prohibits a federal contractor from making contributions, directly or indirectly, to “any political party, committee, or candidate for public office or to any

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building” if “payment for the performance of such contract or payment for such material, supplies, equipment, land, or building is to be made in whole or in part from funds appropriated by the Congress.” 52 U.S.C. § 30119(a)(1).
The FEC has interpreted the prohibition on contributions to political committees as including contributions to hybrid PACs and independent expenditure-only political committees (“IEOPCs” or “super PACs”), a position they have made clear including in a statement regarding published after the 2011 Carey v. FEC decision.
FECA additionally prohibits any person from knowingly soliciting any such contribution from a federal contractor. 52 U.S.C. § 30119(a)(2).
The prohibition on campaign contributions from federal contractors applies from when a request for proposals is sent out or when negotiations commence (whichever is earlier) until the completion of performance under the contract or the termination of negotiations (whichever is later). 52 U.S.C. § 30119(a)(1); 11 C.F.R.§ 115.1(b)
Coinbase is a federal contractor subject to the FECA prohibition
Coinbase is a federal contractor, holding a current government contract with the United States Marshals Service (USMS), a federal agency within the United States Department of Justice. This contract has a $7 million obligated amount, and a $32.5 million total contract value.
The USMS contract opportunity was first published on March 4, 2024, and offers were due on April 1, 2024.

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CONCLUSION
FECA and FEC regulations prohibit a federal contractor from making a contribution to any political committee during the period in which a federal contract is being negotiated or performed.
According to the definitions of the prohibited time period outlined in FEC regulations, Coinbase was prohibited from making campaign contributions beginning on March 4, 2024. The prohibition will continue until the completion of performance under the contract or the termination of negotiations (whichever is later). As the contract is still ongoing, Coinbase has been prohibited from making any contributions from March 4, 2024 through to the date of this complaint.
Consequently, there is reason to believe Coinbase violated the federal contractor contribution prohibition by making a $500,000 contribution to a hybrid PAC, the Congressional Leadership Fund, and a $24,999,995 contribution to a super PAC, Fairshake, during the period it was negotiating and/or performing its federal contracts.
Furthermore, both the Congressional Leadership Fund and Fairshake are aware of the prohibition on accepting contributions from federal government contractors, and may have violated FECA and FEC regulations if they had reason to believe Coinbase was negotiating a federal contract at the time they solicited and/or accepted the contributions.

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185d

TECH BROs v. THE OCEAN:

CRYPTO: let's boil the oceans to create fake money for criminals. We'll fleece the rubes and make miillions. LOL you own that JPG now. Sure you do.

LLMs: let's boil the oceans to create pure garbage out of people's intellectual property. We'll steal from everyone and make millions.

THE OCEANS: brb making some hurricanes

#crypto #llm #ai #techbros #climate #idiots

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174d

#TheCryptocalypseChronicles: Of Tech Bros And Trumpers

The reason so many Silicon Valley billionaires suddenly decided to back #DonaldTrump is not the mystery the media is making it out to be.

tl;dr The billionaires backing #Trump are crypto bros and they want to continue profiting from committing various kinds of crimes.

This is a "follow the money" deep dive into how some of these bros profit by investing in companies like #Uniswap that create excellent tools for #NorthKorea to launder stolen money with a passing explanation of how #Coinbase facilitates the overall system.

Ω👇Ω
https://cryptadamus.substack.com/p/of-tech-bros-and-trumpers

#a16z #MarcAndreessen #SequoiaCapital #BenHorowitz #crypto #COIN #Cryptocurrency #AndreessenHorowitz #ethereum #Sunswap #SwftSwap #LazarusGroup #moneylaundering #FinReg #FinCEN #sanctions #CryptoLobby #USpol #USpolitics #Republicans #politics #CraftVentures #GOP #TheNerdReich

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173d

Newsletter: As parts of the crypto industry scramble to court the Harris administration with events like “Crypto4Harris”, others insist it is Harris who must “bend the knee”.

https://www.citationneeded.news/issue-64/

#crypto #cryptocurrency #newsletter #CitationNeeded

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154d

Ω🚨Ω
#TheCryptocalypseChronicles: Trump's Transition Team Is Tethered To Thievery (And Worse)

How is it that money managed by the chair of Trump's transition team keeps showing up in the hands of drug cartels, terrorists, and fraudsters?

This is a "follow the money" deep dive into how Howard Lutnick manages roughly $100 billion for #Tether. Together they've created an offshore legal fiction by which neither bears any responsibility if that money ends up in the hands of sanctioned countries like #Iran or #NorthKorea or international criminal organizations like #PigButchering frauds and weapons markets.

Which is exactly where it ends up pretty much constantly.

For bonus points $40 billion of those dollars came from Sam Bankman-Fried's FTX.

Ω👇Ω
https://cryptadamus.substack.com/p/trumps-transition-team-is-tethered

#USpol #USpolitics #Trump #TenetMedia #Election2024 #2024Election #cantorfitzgerald #HowardLutnick #USDT #Terrorism #fraud #scams #Russia #Theft #cartels #DonaldTrump #SBF #crypto #cryptocurrency #bitcoin

#TheCryptocalypseChronicles: Trump's Transition Team Is Tethered To Thievery (And Worse)

Howard Lutnick manages a huge pile of money for Tether, a sketchy offshore company whose name appears frequently in criminal indictments. He also just became co-chair of the Trump transition team.

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151d

#Tether, a company whose capital probably comes from #China and which earns 5% interest on ~$100 billion for doing nothing, has been branching out and investing in:

1. a chinese bitcoin transaction processor (some call them "miners") manufacturer #Bitdeer

2. random agriculture companies in argentina with a sub 3% ROI (less than Tether would get doing nothing and collecting 5%) https://t.co/R15JFCMRhD

3. #Satellogic, a manufacturer of spy satellites that is currently losing $30-50 million per year (much less than the guaranteed 5%)

to say this is shady would be an understatement but it is of a piece with some of Tether's other recent bailouts of allegedly fraudulent companies like #NorthernData

#crypto #stablecoins #stablecoin #cryptocurrency #bitcoin #bitcoinmining #argentina #SATL #Adecoagro #espionage #satellite #spy #Chinese #JihanWu