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Surprisingly, initial jobless benefit claims in the U.S. dropped to their lowest level since February, reaching 216,000 in the week ending September 2, down from the revised 229,000 the prior week, according to the Labor Department. This indicates a relatively tight job market amid recent signs of softening.
The FBI has identified the infamous Lazarus hacker group, known to have connections with North Korea, as the orchestrator of a $41 million theft from Stake[.]com. This significant cybercrime occurred around September 4, 2023, as revealed in an official FBI statement released on a Wednesday, sending ripples of concern throughout the cryptocurrency community.
Former FTX Bahamas CEO Ryan Salame has pleaded guilty in a Manhattan federal court after an FBI raid on his residence. He confessed to charges including fraud and unlicensed money transmission, agreeing to forfeit $1.5 billion in assets and pay $5 million in restitution to FTX debtors. Judge Lewis Kaplan presided over the case, and Salame's admission of disguising $10 million in political contributions could impact the case of FTX founder Sam Bankman-Fried, who is also facing charges. Salame was released on $1 million bail with two co-signers.
CFTC Commissioner Caroline D. Pham has introduced an innovative idea: a time-limited crypto pilot program for cryptocurrency regulation. It's worth noting that her views are personal and not representative of the CFTC. Previously, Pham has championed several crypto initiatives and established a Digital Assets sub-committee.
Taiwan's Financial Supervisory Commission has unveiled fresh guidelines aimed at strengthening regulations pertaining to cryptocurrencies and virtual assets. As reported by the Central News Agency, the primary emphasis is on curbing offshore platforms from conducting operations in Taiwan without adhering to the requisite registration and compliance procedures.
Indicating a potential recurrence of a US banking crisis, the Chair of the Federal Deposit Insurance Corporation (FDIC) has cautioned about increased downside risks linked to inflation and elevated interest rates. Back in March 2023, Bitcoin experienced a significant price surge, driven by concerns and uncertainty stemming from the potential collapse of Silicon Valley Bank (SVB).
A recent report dated September 8th suggests that JPMorgan is nearing a transformative phase in digital finance. Furthermore, the final stages of development for a blockchain-based deposit token are underway, pending approval from U.S. regulators for its launch. Notably, this innovative product will initially cater to corporate clients with the goal of streamlining settlement processes and facilitating faster payments.