Latest news with #OfficeofForeignAssetsControl
Yahoo
9 hours ago
- Business
- Yahoo
Vitalik Buterin Uses Privacy Tool Railgun Again, Signaling Ongoing Embrace of On-Chain Anonymity
Ethereum co-founder Vitalik Buterin transferred around $2.6 million worth of tokens through the privacy-focused protocol Railgun on Wednesday, in what appears to be both a routine financial transaction and a quiet endorsement of blockchain-based privacy. It's unclear how the funds sent to Railgun — which included a mix of ETH and USDC — were ultimately used. Railgun is a tool designed to obfuscate on-chain activity, enabling investors to use decentralized finance (DeFi) protocols without transactions being tied to their personal crypto wallets. It is not the first time Buterin has used the protocol. In March, he moved approximately $500,000 through Railgun in a similar transaction. While Buterin has not commented directly on the latest transfer, his continued use of the tool underscores his long-standing advocacy for privacy as a core pillar of Ethereum's infrastructure. Buterin and other Ethereum developers have repeatedly argued that user privacy should be treated as a default feature, not an optional add-on. In an April post to an Ethereum developer forum, Buterin outlined several recommended steps for making the blockchain more private. The Ethereum community's push for privacy comes amid ongoing scrutiny of privacy-preserving blockchain tools by regulators. While Railgun aims to enable legitimate private transactions, similar tools have drawn legal fire. Tornado Cash—once the most widely used Ethereum-based mixer—was sanctioned by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) in August 2022. The government alleged the platform was used to launder over $1 billion, including funds linked to North Korea's Lazarus hacking group. However, on March 21, 2025, OFAC officially lifted the sanctions against Tornado Cash following a federal appeals court ruling that the agency had overstepped its authority. Railgun, described on its website as a "DeFi privacy toolkit," represents a newer generation of privacy systems built on Ethereum, combining zero-knowledge cryptography with smart contract composability. This newer system, unlike Tornado Cash, incorporates screening features to deter illegal transactions. Notably, in February, Buterin commended Railgun for its successful prevention of a money-laundering attempt. Also unlike Tornado Cash, which is primarily built to help users transfer funds anonymously, Railgun helps users interact directly with DeFi protocols — allowing investors to transact discretely while maintaining full control of their funds. The project has received support from some privacy advocates and developers, who argue that tools like Railgun can serve legal use cases such as financial privacy for activists, journalists, or high-net-worth crypto "whales" who want to transact with discretion. Following Buterin's latest transaction, Railgun's native token, RAIL, experienced a 15% uptick over the past 24 in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
19-05-2025
- Business
- Time of India
Shocking study reveals Al-Qaeda and Hezbollah leaders are among verified X subscribers paying Elon Musk's platform monthly fees
A new study found that some terrorists are paying for X premium subscriptions as per reports. This includes an Al-Qaeda advisor, a Hezbollah founder, an Iraqi militia leader, and a top Houthi rebel official. The study was done by the Tech Transparency Project. This sanction list says that American companies can not do any business with these people who are on the list, unless approved by the U.S. government. According to the report by Independent, the U.S. The Treasury Department's Office of Foreign Assets Control manages these sanctions. X has a rule that premium features shouldn't be available to people under OFAC sanctions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Invertir $200 en Amazon CFD podría devolverte un segundo salario But the study found several sanctioned people still had paid accounts with blue checkmarks on X. Some accounts even had 'ID verified' badges, which means they sent ID and selfie to X and got approved. Some of these users also used money-making features on X, like tips. In February 2024, Tech Transparency Project had first pointed this out. After that report, X removed checkmarks and suspended many accounts mentioned. X's Safety team responded, saying they follow legal rules and have independent payment checks. Live Events They also said some accounts listed by the report aren't directly on sanction lists or didn't use services that break rules. X said their team would review and take action if needed. However, many such accounts are back and some with even new checkmarks or new accounts, found in a new investigation, as mentioned in the Independent report. The blue checkmark used to be free for important people, but after Elon Musk took over, it became paid. Musk pushed people to buy subscriptions to access features like longer posts, editing, money from ads, and community groups. X Premium costs $8 per month or $84 per year, Premium Plus is $40 per month or $395 per year. Organizations can also pay more, from $200 to $10,000 per year, to be verified. Musk is also involved in President Donald Trump's Department of Government Efficiency. DOGE is working on cutting down government jobs. Musk recently blamed the Treasury Department for not having 'basic controls' to stop money from going to terrorists. He said 'any company' has better systems than the government. Musk said this while sitting with Trump in the Oval Office. X says users under U.S. sanctions can't use premium, but the study shows that's not fully working. FAQs Q1. Can terrorists use paid X accounts? U.S. rules say they cannot, but some still do, as the study found. Q2. Who checks if X follows U.S. sanctions? The U.S. Treasury's Office of Foreign Assets Control handles that.
Yahoo
14-05-2025
- Business
- Yahoo
US issues new Iran-related sanctions, Treasury Department website shows
(Reuters) - The United States issued new Iran-related sanctions on Wednesday, according to a notice posted to the U.S. Treasury Department's website. The sanctions target individuals and entities in China and Iran, according to the U.S. Treasury Department's Office of Foreign Assets Control.
Reuters
14-05-2025
- Business
- Reuters
US issues new Iran-related sanctions, Treasury Department website shows
May 14 (Reuters) - The United States issued new Iran-related sanctions on Wednesday, according to a notice posted to the U.S. Treasury Department's website. The sanctions target individuals and entities in China and Iran, according to the U.S. Treasury Department's Office of Foreign Assets Control.
The Hill
13-05-2025
- Business
- The Hill
Treasury sanctions companies over Iranian oil
The Big Story The Treasury Department announced on Tuesday that it has sanctioned a network of more than 20 companies it says have supplied Iranian oil to China. © Greg Nash The department's Office of Foreign Assets Control (OFAC) sanctioned nearly two dozen firms that it says have assisted in dispatching billions of dollars' worth of oil to Beijing. 'Today's action underscores our continued focus on intensifying pressure on every aspect of Iran's oil trade, which the regime uses to fund its dangerous and destabilizing activities,' Treasury Department Secretary Scott Bessent said in a statement Tuesday. 'The United States will continue targeting this primary source of revenue, so long as the regime continues its support for terrorism and proliferation of deadly weapons,' Bessent added. State Department spokesperson Tammy Bruce said the revenue from the sale of the oil funds helped in the development of 'ballistic missiles and unmanned aerial vehicles (UAVs), nuclear proliferation, and Iran's terrorist proxies, including the Houthis' attacks on Red Sea Shipping, the U.S. Navy, and Israel.' Read more from Filip Timotija at Welcome to The Hill's Energy & Environment newsletter, I'm Rachel Frazin — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains. Did someone forward you this newsletter? Subscribe here. Essential Reads How policy will affect the energy and environment sectors now and in the future: Underwater volcano off Oregon coast is getting ready to erupt (NewsNation) — An underwater volcano that is nearly 300 miles off Oregon's coast is set to erupt very soon. Benefits of boiling water with dirty fuels outweigh the risk in areas with unclean resources: Study Boiling unclean water in many regions of the world results in air pollution from burning dirty fuels, but the benefits of doing so usually outweigh the risks, a new study has found. 20 states sue over Trump administration linking grants, immigration enforcement Democratic attorneys general from 20 states have filed two lawsuits against the Trump administration over its threats to withhold billions of federal dollars if they don't meet President Trump's new immigration enforcement demands. What We're Reading News we've flagged from other outlets touching on energy issues, the environment and other topics: The EPA didn't release its annual U.S. greenhouse gas emissions report, but we got the data. Here's what we found (CBS News) How much damage did the L.A. wildfires cause? After federal cuts, a crucial estimate is missing (NBC News) On Tap Upcoming news themes and events we're watching: What Others are Reading Two key stories on The Hill right now: First judge approves Trump invoking Alien Enemies Act to deport Venezuelans A federal judge ruled Tuesday that President Trump can invoke the Alien Enemies Act (AEA) to remove Tren de Aragua members but determined the administration has provided insufficient notice before carrying out the deportations. Read more DNC moves toward nullifying election of David Hogg, Malcolm Kenyatta as vice chairs The Democratic National Committee (DNC) has taken a first step toward possibly requiring a new election for two of its vice chairs, including David Hogg, who has stirred controversy with his call for primary challenges to longtime incumbents in safe seats. Read more You're all caught up. See you tomorrow! Thank you for signing up! Subscribe to more newsletters here
