The recent Wall Street Journal article that claimed Hamas raised $130 million via cryptocurrency has sparked considerable debate, especially after Sen. Elizabeth Warren used it as her sole source to ask for tighter regulations around crypto. However, the veracity of this claim has come under scrutiny.

Yaya Fanusie, Jessi Brooks, and Andrew Fierman delve into the veracity of reported figures, the methodology behind them, and the subsequent industry responses that sought to correct the public record. They examine the political implications of cryptocurrency, its use in funding organizations, and the nuanced role of stablecoins in this digital economy. Additionally, they address the broader challenges in regulating crypto to prevent illicit funding, emphasizing the need for factual accuracy and a comprehensive approach to understanding and tackling such complex issues.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Show highlights:

how the Wall Street Journal article claimed that Hamas and other militant groups in Palestine raised $130 million via crypto
why Yaya, who spent some time in his career doing research on terrorist financing, found those numbers odd
why Jessi believes that there's been a loss of focus on facts and accuracy
Andrew's explanation of the post by Chainalysis that corrected the record
why it's so difficult to make a confident assessment of how much money is being funneled to terrorist groups
whether crypto has become politicized
why is it so important to focus not only on the crypto fundraising but also the other avenues, according to Jessi
the role of USDT and other stablecoins in fundraising terrorist organizations
how North Korea is a much more sophisticated actor than Hamas in its know-how about crypto
how the government has tried to respond to the illicit usage of crypto, such as the OFAC sanctions on Tornado cash
the challenges to creating regulations to prevent the use of illicit activity in crypto

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Guests:

Yaya Fanusie, Director of anti-money laundering and cyber risk at the Crypto Council for Innovation
Previous appearance on Unchained: How Widespread Is Money Laundering in Crypto?
Hamas has been experimenting with crypto for years: Yaya Fanusie, appearance on FOX Business
Jessi Brooks, CCO and Legal Officer at Ribbit Capital
Previous appearance on Unchained: How This DOJ Strike Force Hunts Down Cryptocurrency Criminals
Andrew Fierman, Head of Sanctions Strategy at Chainalysis

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#61 OT desde dentro con la directora de la academia | Noemí Galera