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In the recent turns of events, the US Treasury Department reportedly launched a probe into $165 million worth of digital asset transactions linked to the <a href="https://news.todayq.com/hamas-and-hezbollah-shift-to-tron-from-bitcoin-report/">terrorist group Hamas</a>. The transactions under suspicion are linked to the Palestinian militant group’s October 7 attack. US Treasury moves the probe ahead 
According to a report by the Wall Street Journal, Deputy Treasury Secretary Wally Adeyemo raised concerns about Hamas’s move to use digital assets as traditional funding sources. This comes in the wake of Hamas’s attack on Israel. 
The Treasury’s Financial Crimes Enforcement Network (FinCEN) had reportedly identified transactions worth $165 million linked with Hamas over the past few years. However, the US had already imposed sanctions to cease such kind of actions. 
As reported earlier, Tron, a crypto network, emerged as the medium most used by Iran-backed militant groups. It is stated that Tron gained preference due to the feature of faster transaction times and lower fees than Bitcoin. 
NBCTF, National Bureau for Counter Terror Financing of Israel froze around 143 Tron wallets. These actions were carried out from July 2021 and October 2023. Will it halt the bull run? 
This probe comes in when the global crypto market is printing green indexes riding on bullish sentiments. The biggest crypto, Bitcoin price is racing high printing new all time highs (ATH), while, the biggest altcoin, Ethereum (ETH) is following BTC’s footsteps. 
The global digital asset market cap is closing in on breaching the $3 trillion mark. As of now, the cumulative crypto market cap stands at around $2.75 trillion. The 24 hour trading volume on March 14 stood at $134 billion. 
Bitcoin’s race to make a new ATH of $73,750&nbsp; saw its price surging by 50% in the last one month. BTC is trading at an average price of $72,789, at the press time. Its 24 hour trading volume stood at over $44 billion. However, the world’s biggest digital asset is single handedly holding a market cap of $1.43 trillion. 
While Ether has also replicated the same performance over the past few weeks. ETH price is up by 47% in the last 30 days. It is trading at an average price of $3,948, at the press time. The world’s second largest crypto holds a market cap of $474 billion. 
It is expected that the US Treasury Department’s action might raise trouble for the crypto industry. However, experts suggest that this will be for own good of the virtual assets market.

US Treasury to start probes on $165M Hamas linked crypto transactions

Todayq News

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