Patrick

Biden

US politicians who are striving to gain prominence in recent events have now been added to the list of cryptocurrency opponents. The WSJ report made exaggerated and unsubstantiated claims about Hamas being financed with crypto. Many on-chain analysis companies asked for the data behind these allegations and received no response. However, politicians are not giving up.
<h2 style="text-align: justify" id="biden-and-the-crypto-letter">Biden and the Crypto Letter</h2>
Lawmakers from both parties sent a letter urging Biden to investigate Hamas’ crypto financing. According to the WSJ claim, massive crypto donations were being made to Hamas, and everything from handmade rockets worth a few hundred dollars to weapons was being purchased with these donations. The letter states:
<blockquote>
 “Reports indicate that Hamas-affiliated crypto wallets received approximately $41 million between August 2021 and June 2023, while Palestinian Islamic Jihad-affiliated crypto wallets received approximately $93 million. However, the total crypto flows remain uncertain.”
</blockquote>
<img decoding="async" class="wp-image-276795 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/Biden-ve-Yellen-Kripto.png" alt="" width="848" height="521">
The letter sent to President Biden and Treasury Secretary Janet Yellen also requests the identification of crypto accounts associated with Hamas. Tom Emmer, Chairman of the Financial Services Committee, Patrick McHenry, Chairman of the Digital Asset Subcommittee, French Hill, and Ritchie Torres are leading the letter, with the support of both parties.
<h2 style="text-align: justify" id="hamas-and-cryptocurrencies">Hamas and Cryptocurrencies</h2>
Between October 7 and November 7, a total of 10,328 people died in Israeli attacks, including 4,237 children and 2,719 women. These figures do not include deaths in the last 7 days. While the increasing tension caused by Hamas’ attack on October 7 resulted in the displacement of even more people, what was discussed (in the US Congress) more than the bombing of hospitals by Israel was the story that Hamas was financed with cryptocurrencies.
Chainalysis, the most prestigious on-chain analysis company in the crypto world, wrote the following on October 19 in response to the WSJ’s claim that “Hamas is financed with crypto.”
<blockquote>
 “To an untrained eye, $82 million worth of crypto may seem collected for financing terrorism. However, it is more likely that only a small portion of these funds are related to terrorism activities, and most of the funds transacted through suspicious service providers are unrelated.”
</blockquote>
<a href="https://en.coin-turk.com/celestia-airdrop-details-and-important-criteria-of-the-layer-1-network/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Blockchain</a> is traceable, and if the WSJ and US politicians claim that millions of dollars are going to Hamas, they need to prove and substantiate it on-chain. Continue Reading: <a href="https://en.coin-turk.com/us-politicians-join-the-anti-crypto-bandwagon/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/us-politicians-join-the-anti-crypto-bandwagon/</a>

US Politicians Join the Anti-Crypto Bandwagon

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