Crypto ATM arrests in London come as US states like Wisconsin move to limit daily transactions and mandate fraud warnings. Seven crypto ATMs were seized and two people were arrested in southwest London on Thursday on suspicion of money laundering and operating an illegal cryptocurrency exchange. The operation was led by the UK Financial Conduct Authority (FCA) and the Metropolitan Police, according to a statement by the financial watchdog. Since January 2021, any crypto business operating in the UK must be registered with the FCA and follow anti-money laundering regulations. Currently, no legal crypto ATMs are operating in the UK, and using or running one without FCA registration is a criminal offense. Read more
The second week of the Roman Storm trial kicked off with Judge Katherine Failla allowing a witness to testify that Tornado Cash could have been modified to prevent criminal use. A federal judge overseeing Tornado Cash co-founder and developer Roman Storm’s criminal trial will allow jurors to hear testimony claiming he could have modified the platform “to deter criminals from using it.” In a Sunday order, Judge Katherine Failla denied a defense motion requesting to preclude testimony from a government witness over modifications Storm allegedly could have made to Tornado Cash. The witness, Philip Werlau, an investigator at the fraud investigation and Anti-Money Laundering compliance company AnChain.AI, will be allowed to offer testimony that Storm allegedly had the means to stop Tornado Cash from laundering the proceeds of crimes using smart contract features, but chose not to. Read more
Hive Digital’s HPC business is targeting a $100 million annual revenue run rate as it continues to diversify beyond Bitcoin mining. Hive Digital Technologies (HIVE) is continuing its transformation from a pure-play crypto miner to a high-performance computing (HPC) services provider. What began with a fleet of 400 GPUs managed by two employees is now scaling toward a $100 million annual revenue. The company is leveraging advanced AI chips, including Nvidia’s H100s and the forthcoming Blackwell GPUs, to drive this growth. Co-founder and Executive Chairman Frank Holmes and CEO Aydin Kilic elaborated on Hive’s strategy in an exclusive interview with Cointelegraph at the Nasdaq Stock Exchange headquarters in New York City, where the company rang the closing bell on Thursday. Read more