tyb
morning
>Another fund-related character is __Thomas Donilon. Managing Director of BlackRock Investment Institute
Tether Executives Said to Face Criminal Probe Into Bank Fraud
A U.S. probe into Tether is homing in on whether executives behind the digital token committed bank fraud, a potential criminal case that would have broad implications for the cryptocurrency market.
Tether’s pivotal role in the crypto ecosystem is now well known because the token is widely used to trade Bitcoin. But the Justice Department investigation is focused on conduct that occurred years ago, when Tether was in its more nascent stages. Specifically, federal prosecutors are scrutinizing whether Tether concealed from banks that transactions were linked to crypto, said three people with direct knowledge of the matter who asked not to be named because the probe is confidential. Criminal charges would mark one of the most significant developments in the U.S. government’s crackdown on virtual currencies. That’s because Tether is by far the most popular stablecoin -- tokens designed to be immune to wild price swings, making them ideal for buying and selling more volatile coins. The token’s importance to the market is clear: Tethers in circulation are worth about $62 billion and they underpin more than half of all Bitcoin trades.
“Tether routinely has open dialogue with law enforcement agencies, including the DOJ, as part of our commitment to cooperation and transparency,” the company said in a statement. Its corporate structure consists of a tangled web of entities based in the British Virgin Islands and Hong Kong. The Justice Department declined to comment.
Federal prosecutors have been circling Tether since at least 2018. In recent months, they sent letters to individuals alerting them that they’re targets of the investigation, one of the people said. The notices signal that a decision on whether to bring a case could be made soon, with senior Justice Department officials ultimately determining whether charges are warranted. The probe is reaching a tipping point as stablecoins attract intense scrutiny from regulators. The U.S. Treasury Department and Federal Reserve are among agencies concerned that the tokens could threaten financial stability, and are obscuring transactions tied to money laundering and other misconduct because they allow criminals to make payments without going through the regulated banking system. Treasury Secretary Janet Yellen said last week that watchdogs must “act quickly” in considering new rules for stablecoins. A hallmark of Tether is that its creators have said each token is backed by one U.S. dollar, either through actual money or holdings that include commercial paper, corporate bonds and precious metals. That has triggered concerns that if lots of traders sold stable coins all at once, there could be a run on assets backstopping the tokens. Fitch Ratings has warned that such a scenario could destabilize short-term credit markets.
https://www.bnnbloomberg.ca/tether-executives-said-to-face-criminal-probe-into-bank-fraud-1.1632946
BOXER45 USAF C-40C on final for Atlanta Int'l Airport from JBA depart
82-8000 USAF 747 departed JBA north
A cert. and/or maintenance flight and most likely use it for Not AF1 Joe's trip to Allentown on Weds.
Still no 92-9000.......
SWISS AF SUI524 Bombardier Challenger 600 and Cessna C-560 departed RAF Northolt after ground stop
SUI525 Falcon 900 departed Berlin also after a ground stop
All three heading back to Bern and Zurich
>>75798 pb
SAM760 USAF C-40B on descent for MacDill AFB after a ground stop/refuel at Shannon, Ireland
>>75789 pb Russia PM to visit disputed isle off Japan's Hokkaido
Russia PM visits Northern Islands off Hokkaido
Tokyo lodges protest with Russian ambassador over Etorofu trip.
Russia's Prime Minister Mikhail Mishustin on Monday visited a Russian-held island claimed by Tokyo off Hokkaido for the first time since a constitutional amendment last July barred the country from ceding territory, Russian officials said. The visit to Etorofu Island, known as Iturup in Russia, also marked the first trip to one of the disputed islets off Japan's northernmost main island by a Russian prime minister since Mishustin's predecessor Dmitry Medvedev's visit in August 2018.
In Tokyo, Japanese Vice Foreign Minister Takeo Mori lodged a protest with Russian Ambassador to Japan Mikhail Galuzin over Mishustin's visit, the Japanese Foreign Ministry said. "The protest is unacceptable in light of our basic stance that the islands were handed over legally as a result of World War II," Galuzin told reporters after the meeting. Galuzin declined to comment when asked what would be the consequence of the visit by Mishustin, the second most powerful figure in Russia after President Vladimir Putin, in terms of future negotiations with Japan. Mishustin inspected a hospital on the island Monday as part of a four-day trip to the Russian Far East and Siberia, according to the Russian government. He then headed to a seafood processing complex on the island, according to local reports.
Chief Cabinet Secretary Katsunobu Kato said at a press conference earlier in the day that Mishustin's trip "conflicts with Japan's consistent position on the Northern Territories and is very regrettable." Following the protest, Japanese Foreign Minister Toshimitsu Motegi said in a statement that the visit has "hurt the feelings of people in Japan" and "does not contribute to Japan-Russia relations." Motegi said Japan and Russia during the 2018 summit meeting have reaffirmed carrying out peace treaty talks based on a 1956 joint declaration. The declaration states two of the four islands Shikotan and the Habomai islet group will be handed over to Japan following the conclusion of a peace treaty.
The disputed islands known as the Northern Territories in Japan and the Southern Kurils in Russia were seized by the Soviet Union following Japan's surrender in World War II in 1945. Tokyo has long sought the return of the islands, which also include Kunashiri, Shikotan and the Habomai islet chain. Prior to his trip, Tokyo had asked Moscow for the prime minister not to visit the island, Japanese government sources said. Putin on Friday instructed Mishustin to pay "special attention" to the islands and said the prime minister came up with "a good proposal" regarding joint economic activities on the islands that the two countries aim to implement. The two countries have agreed to carry out joint projects on the islands in such areas as aquaculture, wind power and waste reduction as a trust-building exercise.
According to Russian news agency Interfax, Mishustin said Monday he has made a proposal about setting up a tariff-free special zone on the Kuril Islands to attract foreign investment and will discuss the plan with Putin upon returning to Moscow. The long-standing territorial row has prevented the two countries from concluding a postwar peace treaty. Russia wants Japan to recognize that the four islands were legitimately acquired following Tokyo's surrender in the war, while Japan takes the view that the seizure was illegal. Shortly after taking office in September last year, Prime Minister Yoshihide Suga and Putin agreed in their first teleconference that the two countries will aim to promote territorial negotiations based on the 1956 joint declaration between Japan and the former Soviet Union.
Suga and Putin have yet to meet in person.
https://asia.nikkei.com/Politics/International-relations/Russia-PM-visits-Northern-Islands-off-Hokkaido