U.S. Seizes $15 Billion In Bitcoin, Sanctions Cambodia’s Prince Group In Global Crypto ‘Scam’ Crackdown
20 Oct
Breaking News

U.S. Seizes $15 Billion In Bitcoin, Sanctions Cambodia’s Prince Group In Global Crypto ‘Scam’ Crackdown

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ToplineThe Department of Justice seized roughly $15 billion in bitcoin from the self-custodied cryptocurrency wallets of Prince Group founder Chen Zhi, who authorities allege orchestrated a vast “pig butchering” scam based in Cambodia, marking a record-setting forfeiture as the Treasury Department labeled Prince Group a transnational criminal organization.PARIS, FRANCE - NOVEMBER 12: In this photo illustration, a visual representation of the digital Cryptocurrency, Bitcoin is on display on November 12, 2024 in Paris, France. (Photo illustration by Chesnot/Getty Images) Getty ImagesKey FactsThe Department of Justice filed a forfeiture action Tuesday for 127,271 bitcoin, worth approximately $15 billion, and Chen Zhi, the founder and chairman of real estate conglomerate Prince Group, was indicted on wire fraud and money laundering conspiracy charges and remains at large. Prosecutors allege Prince Group trafficked hundreds of workers and forced them to run...
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What could a Trump deal on critical minerals mean for Australia – and could MAGA be a sticking point?
20 Oct
Breaking News

What could a Trump deal on critical minerals mean for Australia – and could MAGA be a sticking point?

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Australia’s rich deposits of minerals used for green energy technologies and military hardware are increasingly prized, especially because of rising anxiety about China’s stranglehold on the global supply chain. That anxiety escalated after Beijing imposed new restrictions on rare earths exports, prompting a furious rebuke from Donald Trump and a warning from his treasury secretary that western allies would need to “decouple” from China if it proved an unreliable supplier.The timing of the latest US-China trade conflict could be good for Anthony Albanese, who will arrive at next week’s White House meeting armed with a valuable bargaining chip to negotiate with the deal-making president. The Australian government is expected to offer the US access to a proposed critical minerals stockpile, amid wider attempts to shield the country from the worst of Trump’s trade strikes and secure the...
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