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A report shared by the US Treasury Department has linked Hamas to 300 instances of financing terrorism with crypto and roughly $165 million in transactions, the Wall Street Journal (WSJ) reports.  The report, seen by the WSJ and written by the Treasury’s Financial Crimes Enforcement Network, was sent by the Treasury’s deputy secretary Wally Adeyemo to Congress on Tuesday.  It claimed that 12 dozen financial institutions, including crypto exchanges, have found over 300 instances of crypto potentially being used for terrorist financing purposes which suggests that Hamas is moving funds between its operatives.  The report also linked Hamas to almost $165 million in transactions and digital assets over the past three years. It is reportedly the first formal assessment of crypto use related to Hamas as the US looks to increase its oversight of crypto and curtail Hamas’s ability to work around sanctions.  Hamas victims from the US sue Iran, Syria, Binance, and CZ Read more: Hama...

Reality Labs, Meta’s subsidiary focused on develop ing the metaverse , recorded an operating loss of $4.65 billion in the last quarter of 2023. Meta keeps doubling down on its bet on the metaverse as its expenses to develop virtual reality hit an all -time high in Q4, 2023. According to the company’s fourth-quarter earnings report , Reality Labs suffered a net loss of $4.65 billion in Q4 2023, an 8.5% increase compared to Q4 2022 and the largest one the company’s subsidiary witnessed thus far. In total, Reality Labs’s cumulative loss surpassed the $42 billion mark since late 2020, according to Meta’s financial report s. Nevertheless, there was a notable uptick in Meta’s revenue within Reality Labs, soaring from $727 million in Q4 2022 to over $1 billion in Q4 2023, as Meta debuted its Quest 3 VR headset last fall. “We had a good quarter as our community and business continue to grow. We’ve made a lot of progress on our vision for a...

The Spanish football club Atlético Madrid is preparing to file a lawsuit against the Singaporean crypto exchange WhaleFin, per a news report . According to Protos, the subject of the dispute is income relating to a sponsorship in the amount of $44 million, which the crypto currency exchange did not pay to the football club. According to the source, Atlético Madrid signed a five-year contract with WhaleFin ahead of the 2022/23 season. Subsequently, the crypto exchange violated the terms of the agreement and refused to pony up the rest of the payment, club representatives now claim. You might also like: Spain’s Atlético de Madrid Partners with STEPN & WhaleFin for NFT Sneakers Launch In Dec. 2022, the crypto exchange reported financial difficulties and terminated a $25 million sponsorship agreement with the English FC Chelsea. That event occurred seven months after the conclusion of the contract. It’s not the Madrid football club’s first or only foray into crypto . A...

In a Nov. 6 report from Kaiko, a leading source of cryptocurrency market data, despite Bitcoin’s rally in October, the Alameda gap still exists one year after the FTX collapse. Data shows that market depth is still 55% below pre-FTX levels. Low volatility environment Although bitcoin has seen a 20% surge in October 2023, the Alameda gap, also defined as the sharp decline in order book liquidity evident after the collapse of FTX and its sister company Alameda Research — has continued. The Alameda Gap Persists | Source: Kaiko The 2% market depth for BTC, ETH and altcoins on centralized exchanges hovered at $800mn in data from last week, still well below pre-FTX levels. You might also like: Kaiko reports exchange de-listings at an all-time high While Kaiko likens this in part to the low volume and low volatility environment, which has kept advanced traders and liquidity providers away from the cryptocurrency market, the data provider also highlights there are also st...