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Hang Seng Index futures closed down 0.19% at 26,643 points in overnight trading, a discount of 6 points.On November 11th, JPMorgan Private Bank stated that the strong upward momentum in gold prices could push them above $5,000 per ounce next year, primarily driven by continued purchases by central banks in emerging market economies. Alex Wolf, Global Head of Macro and Fixed Income Strategy at the bank, pointed out that gold prices could reach $5,200 to $5,300 by the end of 2026, more than 25% higher than current trading levels. Global central bank gold purchases have been a key driver of the sharp rise in gold prices over the past two years. Policymakers seeking a store of value and asset diversification pushed gold prices to a record high of over $4,380 in October this year. Although prices have retreated somewhat in recent weeks, they are still up more than 50% year-to-date. Wolf stated that for many central banks, gold still represents a relatively small proportion of their foreign exchange reserves, especially in emerging market countries. He added, "We are still seeing them increasing their gold holdings, although the pace of purchases may slow due to rising prices."On November 11, Hamas spokesman Hazem Qasim stated on the 10th that Israel is deliberately expanding the "yellow line" area in northern Gaza, effectively altering the post-ceasefire border, and has failed to implement the previously agreed-upon ceasefire map. He described the recent Israeli military operations in several areas as a "systematic breach" of the ceasefire agreement. Qasim said Hamas, through the mediators, has requested heavy machinery to search for the bodies of Israeli detainees in the rubble, but continued Israeli restrictions are hindering the operation.U.S. Senate Republican Leader Thune: Im not sure if I can vote today.U.S. Senate Republican Leader Thune: (The voting process for the temporary funding bill) remains stalled.

Crypto crime hits record $20 billion in 2022, report says

Skylar Shaw

Jan 13, 2023 15:41

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In 2022, the cryptocurrency industry struggled as risk taking decreased and many crypto businesses went under. Regulators increased requests for more consumer protection as a result of the significant losses suffered by investors.


Despite a decline in total crypto transaction volumes, Chainalysis reported that the value of crypto transactions involving illegal activities increased for the second year in a row.


According to Chainalysis, transactions involving sanctioned organizations grew more than 100,000 times in 2022 and accounted for 44% of all illegal activities in 2017.


Much of 2022's unlawful volume was made up of funds received through the Russian exchange Garantex, which the U.S. Treasury Department sanctioned in April. Chainalysis said that the majority of the activity was "likely Russian users utilizing a Russian exchange." Wallets are labeled as "illicit," according to a Chainalysis spokeswoman, if they are a part of an approved company.


An email request for comment from Garantex did not get a response right away.


Additionally, the United States placed sanctions on cryptocurrency mixing services Blender and Tornado Cash last year, alleging that they were being used by hackers, including those from North Korea, to launder billions of dollars in profits from their cybercrimes.


While other illegal cryptocurrency transactions, such as those involving frauds, malware, funding terrorism, and human trafficking, witnessed volume declines last year, the amount of stolen cryptocurrency money increased by 7%.


"The recent market decline might be contributing to this," stated chain analysis. We've discovered in the past, for example, that cryptocurrency scams make less money during weak markets.


According to Chainalysis, the $20.1 billion estimate only accounts for transactions that are visible on blockchains and leaves out "off-chain" crimes like false accounting by cryptocurrency companies.


According to Chainalysis, the statistic does not include instances in which cryptocurrency is used as payment for non-crypto crimes, such as drug trafficking, or when it is the profits of such crimes.


The paper noted that the number for 2021 was raised from $14 billion to $18 billion as additional scams were uncovered. "We have to emphasise that this is a lower bound estimate - our measure of unlawful transaction volume is expected to expand with time," it added.


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