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Crypto

UK ranks crypto third economic crime priority, tightens money laundering probes

British investigators have identified crypto assets as a key risk factor in tackling money laundering and fraud and are moving to strengthen their investigative capabilities. Crypto assets were classified as the third item among the United Kingdom\'s nine economic crime response priorities. The National Economic Crime Centre said criminal groups use cryptocurrencies to evade detection and move illicit funds at scale, and it plans a more proactive, intelligence-led approach.

Crypto

Hunter Biden memecoin hits $144 billion then plunges 95 percent in 30 minutes

A memecoin called LAPTOP, which Hunter Biden helped found, surged immediately after trading began and then fell more than 95 percent in about 30 minutes. Cryptopolitan reported the token started trading on Coinbase-built Base and peaked within minutes. Arkham estimated fully diluted value briefly hit $144 billion before dropping to $5 billion. Large token transfers were detected, and one tracked wallet suffered heavy losses. Analysts also warned about concentrated, recently created top holder wallets.

Finance

U.S. Treasury to buy back up to $6 billion in Treasuries as yields jump on $40 trillion debt

The U.S. Treasury will buy back up to $6 billion of outstanding nominal Treasuries with 10 to 20 years remaining maturity to boost liquidity in the long-term bond market. The amount is triple the usual per-operation cap, but Treasury yields continued to rise after the announcement. Investors pointed to federal debt above $40 trillion, increased supply and inflation worries, while some criticised the move as risking expectations of larger intervention.