Analysis Today TheBitTimes.com

Two U.S. elected officials wrote to the Department of Justice, calling for a concluded investigation on Binance and Tether that could lead to litigation against the pair of crypto heavyweights. Senator Cynthia Lummis, who sits on the Senate Banking Committee, cited an Oct. 10 Wall Street Journal (WSJ) report claiming that Hamas and its affiliate raised millions through cryptocurrencies.  The article in question and subsequent reports of the same ilk have since been refuted by blockchain data companies like Elliptic, per crypto.news. Lummis’ letter noted the likelihood of inaccuracies in WSJ reporting but insisted that the Justice Department exercise judicial might to counter crypto terror financing.  Though subsequent reports have highlighted that the level of funding reported in the article is likely not accurate we believe it is nonetheless imperative that the Department of Justice hold bad actors accountable if they are shown to facilitate illicit activity. Senator Cynthia Lu

As Israel grapples with the aftermath of an attack orchestrated by Hamas, we look at the role of crypto in terrorism financing. On Oct. 7, Palestinian militant group Hamas launched a devastating attack against Israel, killing at least 900 people and taking captive more than 130 others. The dawn incursion, aimed at several populated areas, including Tel Aviv and Ashkelon, caught Israeli security off guard as the country celebrated a religious holiday. In response, Israel declared war against Hamas, hitting more than 1,000 targets in the tiny enclave of Gaza believed to be Hamas gathering places.  According to the Gaza Health Ministry, at least 680 civilians have died due to Israel’s retaliatory actions. Even as the battle rages on, many wonder how a criminal group like Hamas can access the funds required to plan and execute an attack of such scope and magnitude. Previously, the Sunni Islamist militant group was known to accept cryptocurrency to fund their activities. Still, they d