Crypto group members have accused The Wall Road Journal (WSJ) of publishing deceptive details about Hamas crypto-related funding.
On Oct. 10, WSJ reported that Hamas had acquired roughly $90 million in cryptocurrency to finance a shock assault towards Israel. This revelation drew vital consideration from outstanding crypto skeptics, who swiftly used this funding for example how the trade aided malicious actors.
A number of U.S. lawmakers, spearheaded by Senator Elizabeth Warren, cited the WSJ report in a letter addressed to the White Home and the Treasury Division. The lawmakers expressed considerations concerning the nationwide safety dangers posed by cryptocurrencies attributable to their potential use in terrorist financing.
Group says WSJ overreported terror funding by 99%
Sam Callahan, the lead market analyst at Swan Bitcoin, countered that “WSJ’s determine for crypto use in financing Hamas was off by over 99%,” citing a latest Chainalysis report.
In line with Callahan, the media agency had mistakenly counted a whole change’s buying and selling quantity for the group’s deal with. He added:
“The precise funds that went to recognized terrorist-linked addresses was considerably much less.”
Consequently, Callahan urged WSJ to retract the story as a result of “politicians with an agenda will doubtless proceed to make use of this faux information as proof to assault an trade they’ve a private vendetta towards.”
In the meantime, crypto stakeholders, together with Nic Carter, additionally shared Callahan’s view, claiming that the journalists refused to retract their story regardless of contacting them through mail. He added:
“It is a journalistic failure as egregious because the NYT’s reporting on the rocket putting a hospital in gaza. circuitously chargeable for lack of life, however evidencing a equally callous disregard for the reality. Boycotting the WSJ till they retract.”
Sam Lyman, the director of public coverage at Bitcoin (BTC) miner Riot Platforms, identified that the WSJ report failed to say that Hamas’ crypto fundraising program was a whole catastrophe.
He stated the fundraising had “uncovered [the group] key donors to felony prosecution and financed its two biggest enemies, the US and Israel, to the tune of tens of millions of {dollars}.”
CryptoSlate reported that Coinbase had argued that blockchain expertise could possibly be used to battle terrorism funding, including that terror funding nonetheless depends on the normal monetary system, not crypto.
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