Tether, Binance and a $1.5 billion Iran oil network converge in new US forfeiture case

US prosecutors are seeking to seize $61 million in Tethers USDT tied to alleged black-market Iranian oil sales.  Related Asset Tether USDT · Stablecoin  On Sept. 14, the US Attorney‘s Office for the Southern District of New York filed a civil forfeiture complaint targeting approximately 61.2 million USDT across 10 Tron addresses. Prosecutors allege the funds came from Iranian crude and petroleum sales intended to benefit the country’s government and military, including the Islamic Revolutionary Guard Corps (IRGC).  The tokens were already immobilized. Tether froze seven of the targeted addresses in June 2025 and another three in July. A seizure warrant issued this week now authorizes federal agents to move the value into government custody.  Executing that warrant would depend on Tethers control over USDT. The stablecoin issuer would burn the frozen tokens and issue replacements of the same value for transfer to an FBI-controlled hardware wallet, according to the complaint.  The mechanism gives US authorities a route from identifying sanctioned funds on-chain to taking custody without obtaining the private keys controlling the original wallets. It also extends a growing enforcement relationship between US agencies and the issuer of the worlds largest stablecoin.  Days before the Iran filing, Tether said the Justice Department credited it with

09-16Industry

Crypto prices fall as Clarity Act fails to advance in Senate

The global crypto market declines nearly 3% on Tuesday after the Digital Asset Market Clarity Act failed to gather the required 60 votes needed to invoke cloture in the Senate.  Cloture is the formal Senate procedure used to break legislative gridlock and force a final vote on a bill.  The measure received 49 YEA and 50 NAY votes, falling short of the 60 threshold by 11 despite a series of negotiations from Republican lawmakers and a push from President Donald Trump.  Lawmakers react after CLARITY failed to progress  Crypto America host Eleanor Terrett noted that several Democrats who spent months negotiating the bill voted NO, with some blaming their Republican colleagues for not including stricter rules.  The bills chief author, Senator Cynthia Lummis, blasted Democrats in an X post after the vote ended.  Senator Cynthia Lummis. Source: X  Regardless, Democrats and Republican Senators agree that the bill isnt dead yet, but it will have to wait.  In a bid to gather support, Senate Republicans released an updated version of the bill over the weekend, including concessions to Democrats on stronger crypto ethics rules and a circuit breaker on stablecoin yields. However, the latest additions were not enough to move the needle.  In a Monday letter to the Senate Banking

09-16Industry

Robinhood Engineers Charged Over Alleged Crypto Listing

U.S. prosecutors charged two Robinhood engineers with fraud over an alleged scheme to trade on confidential information about upcoming cryptocurrency listings.  The case centers on trades made through Hyperliquids perpetual futures market. Hefu Chai and Huaisong Xiang allegedly used nonpublic information from Robinhood Crypto to take positions in tokens before the exchange announced their listings.  Prosecutors said each engineer made more than $50,000 from the alleged trades.  Alleged Use of Confidential Data  According to the complaints, Chai and Xiang had access to confidential listing information through their engineering roles at Robinhood. Prosecutors allege they used that information to trade tokens before the listings became public.  Related: How US Authorities Tracked $1.5 Billion in Iranian Oil Crypto Flows  The trades were made through Hyperliquids perpetual futures market, which allows traders to take positions on cryptocurrency prices without owning the underlying tokens.  The charges are allegations, and both defendants are presumed innocent unless proven guilty. Chai is facing proceedings in California, while Xiang is expected to appear in federal court in Manhattan.  Potential Penalties  The Justice Department charged both men with commodities fraud and wire fraud. Commodities fraud carries a maximum sentence of 10 years in prison, while wire fraud carries a maximum of 20 years, if they are convicted.  Prosecutors alleged

09-16Industry

XRP Ledger Batch V1.1 Nears Activation After Security Rebuild

The bug could have let a malformed signer setup pass validation without requiring the private keys of every other account involved.  The XRP Ledgers Batch V1.1 amendment is one validator vote short of reaching the 80% threshold needed to begin its 14-day activation countdown, after a security rebuild that followed a critical flaw in the original version.  The revised code has gone through senior engineering review, adversarial testing, two external security reviews, and AI-assisted analysis before its current validator vote.  Batch V1.1 Reaches Final Vote Before Activation Countdown  RippleX developer Mayukha Vadari said the amendment shipped with xrpld 3.3.0 and is now up for voting. The update replaces Batch V1.0, whose signature-validation bug was found in February while the amendment was still pre-mainnet, meaning no funds were at risk.  The original flaw involved an early return in the checkBatchSign function. If a signer account did not yet exist on the ledger, validation could return success without checking the remaining signers. That could have allowed transactions to be executed on behalf of other accounts without their private keys.  Batch V1.1 removed that flaw and also addressed several other issues found during the rebuild. The process included review by four senior engineers, a Sherlock Batch Attackathon, a Halborn

09-16Industry

Japanese Yen slips as Oil lifts yields ahead of the Fed

USD/JPY trades near 155.20 on Tuesday, rising for a second straight day and pulling away from the roughly seven-month low it set last week. A firmer US Dollar (USD) is doing the work, helped by a sharp jump in Oil that has pushed US Treasury yields higher.  West Texas Intermediate (WTI) Oil has surged more than 3% on Tuesday, and higher energy costs feed straight into inflation expectations, lifting yields and the safe-haven Dollar.  The Federal Open Market Committee (FOMC) decides on Wednesday. Markets are leaning toward a 25 basis points (bps) rise to 3.75%-4.00%, the first move after five straight holds, with US Retail Sales for August due the same morning.  Firm labor figures, including a pickup in the ADP employment gauge on its four-week average, have added to the hawkish case. A hike paired with guidance for more would extend the Dollars bounce.  The Bank of Japan (BoJ) announces its policy decision on Friday, and markets widely expect a hike, with rates expected to move to 1.25%. Strong Japanese wage and growth data have firmed those bets, and speculators have trimmed their positions against the Yen since the summers intervention.  Short-term technical analysis:  On the 4-hour chart, USD/JPY trades at 155.18. The pair holds

09-16Industry

New hotlines let AI agents report rogue peers with a curl command

Two websites launched this week give autonomous AI agents a way to blow the whistle on other misbehaving agents.  The launches follow a series of incidents in which agents cheated on tests, escaped sandboxes, and ran cyber operations that humans missed for weeks.  Ryan Greenblatt takes tips from anything that can fetch a web page  The initial service, the AI Contact Hotline, passes reports to Ryan Greenblatt, chief scientist at AI safety nonprofit Redwood Research and one of three investigators on the OpenAI Hugging Face breach.  Many agents running in secure sandboxes can fetch web pages, but nothing else. Often the only channel they have is a GET request, which is the basic web command for reading a page.  Greenblatts tool converts that limit into the feature. An agent with shell access sends a message with a single curl command.  The AI Contact Hotlines own instructions, captured 15 September 2026, showing the curl command and the 64 KB message limit. Source: AI Contact Hotline.  If the agent is only allowed to fetch pages, it encodes its message in the URL as a query string. Messages are limited to 64 KB.  Each submission has a private thread link of its own, where Greenblatts replies, if any, appear. This is

09-16Industry

Wall Street Bets on Fed Rate Hike: Here's What It Means for Bitcoin, Bonds and Trump

In briefCMEs FedWatch tool puts the odds of a 25-basis-point hike Wednesday at 94.5%, which would push the federal funds rate to 3.75%-4% from 3.50%-3.75%.A Wall Street Journal survey found nearly every major bank expects the September hike, with most forecasting 50 basis points of total tightening in 2026, and Bank of America, Deutsche Bank and RBC calling for 75.The move sets up a political clash: President Trump handpicked Fed Chair Kevin Warsh hoping for lower rates, not higher ones, and has spent the past two weeks publicly pressuring him not to hike.  Wall Street is bracing for the Federal Reserve to do something it hasnt done since 2023: raise interest rates.  The Federal Open Market Committee wraps up its two-day meeting Wednesday, and CMEs FedWatch tool puts the odds of a quarter-point hike at 94.5%, up from under 50% a month ago.  Myriad: Will the Fed raise interest rates? Click to make your prediction.  The shift from unlikely to near-universal happened fast. A Wall Street Journal survey published this week found nearly every major bank now expects a hike on Wednesday, with most, including Barclays, Citigroup, JPMorgan, Morgan Stanley and UBS, forecasting 50 basis points of total tightening by year-end.  Bank of America, Deutsche

09-16Industry

BIS paper finds major gap in Bitcoin onchain transfer estimates

Researchers at the Bank for International Settlements found that estimates of Bitcoin onchain transfer values can vary by as much as sixfold depending on how transactions are measured.  The finding concerns onchain Bitcoin transfer values, rather than trading volume on crypto exchanges. The sixfold gap reflects differences between measurement methods, including how change outputs and other transfers back to the sender are treated.  The discrepancy stems largely from Bitcoins transaction structure. When users spend Bitcoin, unspent funds are often returned to the sender as change, which can be counted as another output even though it does not represent funds being transferred to another party.Breakdown of blockchain records analyzed in the BIS study. Source: BIS  “Metrics such as transaction volumes, market capitalisation and total value locked often suggest a degree of accuracy that is not supported by the nature of the underlying data,” the researchers wrote.  The measurement problem also extends to Bitcoins market capitalization. The researchers found that the conventional measure has at times been as much as four times higher than realized capitalization, which values each coin at the price when it last moved.  The study, based on 100 billion blockchain records across Bitcoin, Ethereum and Tron, found that similar measurement challenges extend across

09-16Industry

Leading Economist is Bullish on Copper. So Why is the Price Falling?

The copper price trades near $6.30 a pound on Tuesday, down almost 8% from its early August record, after the metal posted its first losing week since June.  Economist Steve Hanke told his followers to stay long on copper six days ago, hours before the rally stalled. The supply case behind his call, however, has not changed.  Sponsored  Sponsored  Copper Mine Supply is Shrinking for the First Time Since 2017  Hanke published his note on September 9, with London Metal Exchange prices still setting fresh highs.  “The price of copper on Londons LME is SOARING. Morgan Stanley now reports that this year could mark the first annual decline in the supply of copper coming from mines since 2017. STAY LONG COPPER,” said Steve Hanke, Professor of Applied Economics at Johns Hopkins University  International Copper Study Group data shows global mine output fell 1.1% in the first half of 2026.  Freeport-McMoRans Grasberg mine is still running at roughly half capacity after a fatal landslide. Chile has cut its national production forecast again. Ore grades are also deteriorating, forcing miners to move more rock for less copper.  Copper price context chart showing annual change in copper mine production from 2016 to 2026. Source: X  Three producers explain most of the shortfall. Freeport-McMoRan

09-16Industry

BIS Study Finds Major Discrepancies in Bitcoin Onchain Metrics

Researchers at the Bank for International Settlements found that estimates of Bitcoin onchain transfer values can vary by as much as sixfold depending on how transactions are measured.  The finding concerns onchain Bitcoin transfer values, rather than trading volume on crypto exchanges. The sixfold gap reflects differences between measurement methods, including how change outputs and other transfers back to the sender are treated.  The discrepancy stems largely from Bitcoins transaction structure. When users spend Bitcoin, unspent funds are often returned to the sender as change, which can be counted as another output even though it does not represent funds being transferred to another party.  Breakdown of blockchain records analyzed in the BIS study. Source: BIS  Discover more  NEWS  Finance  Merchant Services & Payment Systems  “Metrics such as transaction volumes, market capitalisation and total value locked often suggest a degree of accuracy that is not supported by the nature of the underlying data,” the researchers wrote.  The measurement problem also extends to Bitcoins market capitalization. The researchers found that the conventional measure has at times been as much as four times higher than realized capitalization, which values each coin at the price when it last moved.  The study, based on 100 billion blockchain records across Bitcoin, Ethereum and Tron, found that

09-16Industry
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