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Morning Brew Daily
SBF's Ex-Girlfriend Takes the Stand & California Coming For Your Skittles?
Oct 11, 2023
28:46
Snipd AI
Caroline Ellison, ex-CEO of Alameda, testifies in the FTX fraud trial. Cryptocurrency's role in terrorism fundraising is explored, along with the challenges of tracking wallets. California bans certain food additives. Home Depot's crime tracker and Ireland's corporate tax revenue are discussed.
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Quick takeaways
- Terrorist groups like Hamas are increasingly using cryptocurrency for fundraising due to anonymity and fewer regulations, posing a challenge for national security experts.
- The ongoing trial of Sam Bankman-Fried involves testimony from Caroline Ellison, who implicates him in directing her to commit crimes and highlights the financial ties between FTX and Alameda Research.
Deep dives
Terrorist groups using cryptocurrency to fund operations
Hamas and other terrorist groups are increasingly turning to cryptocurrency to finance their operations. Wall Street Journal reports that Hamas and its affiliates raised massive sums through crypto, with the Palestinian Islamic Jihad collecting $93 million and Hamas itself collecting $41 million. This trend is a concern for national security experts, as crypto offers anonymity and fewer regulations than traditional finance, making it an appealing option for terrorist financing.
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