Here’s what happened in crypto today

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.

Today in crypto, the US Treasury Department’s FinCEN revealed that US banks have been facilitating billions each year for suspected Chinese money launderers, the US Commodity Futures Trading Commission opened a pathway for offshore exchanges to legally serve American clients and Kanye West’s YZY token collapsed over 80% after launch, wiping out $74 million for 51,000 traders.

US banks were responsible for laundering $312 billion for Chinese money launderers between 2020 and 2024, according to a new report.

In a US Financial Crimes Enforcement Network (FinCEN) advisory on Thursday, the watchdog analyzed over 137,000 Bank Secrecy Act reports from 2020 to 2024. 

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