AI

Bot Students Siphon Millions in Financial Aid from US Community Colleges (voiceofsandiego.org) 47

Fraud rings using fake "bot" students have infiltrated America's community colleges, stealing over $11 million from California's system alone in 2024. The nationwide scheme, which began in 2021, targets open-admission institutions where scammers enroll fictitious students in online courses to collect financial aid disbursements.

"We didn't used to have to decide if our students were human," said Eric Maag, who has taught at Southwestern College for 21 years. Faculty now spend hours vetting suspicious enrollees and analyzing AI-generated assignments. At Southwestern in Chula Vista, professor Elizabeth Smith discovered 89 of her 104 enrolled students were fraudulent. The California Community College system estimates 25% of all applicants statewide are bots. Community college administrators describe fighting an evolving technological battle against increasingly sophisticated fraud tactics. The fraud crisis has particularly impacted asynchronous online courses, crowding real students out of classes and fundamentally altering faculty roles.
News

How a Secretive Gambler Called 'The Joker' Took Down the Texas Lottery 74

A global gambling syndicate led by secretive Tasmanian gambler Zeljko Ranogajec and London bookmaker Bernard Marantelli successfully executed an unprecedented operation to claim a $57.8 million Texas lottery jackpot in 2023.

The group, operating through a limited partnership called Rook TX, purchased 99.3% of all possible number combinations, printing over 25 million tickets across four makeshift workshops in Texas. Using dozens of official lottery terminals and working nearly around the clock for three days, the team systematically printed hundreds of tickets per second.

Texas officials have since launched investigations, with Lt. Governor Dan Patrick calling it "the biggest theft from the people of Texas in the history of Texas." The Texas Rangers are now investigating the operation. Through legal representation, the syndicate maintains they "followed all applicable laws, rules and regulations" throughout the process.
United States

Trump Administration Plans To End the IRS Direct File Program for Free Tax Filing (apnews.com) 277

The Trump administration plans to eliminate the IRS' Direct File program, an electronic system for filing tax returns directly to the agency for free, AP reported Wednesday, citing two people familiar with the decision. From the report: The program developed during Joe Biden's presidency was credited by users with making tax filing easy, fast and economical. But Republican lawmakers and commercial tax preparation companies complained it was a waste of taxpayer money because free filing programs already exist, although they are hard to use.
United States

Immigrant Founders Are the Norm in Key US AI Firms: Study (axios.com) 146

More than half of the top privately held AI companies based in the U.S. have at least one immigrant founder, according to an analysis from the Institute for Progress. From the report: The IFP analysis of the top AI-related startups in the Forbes AI 2025 list found that 25 -- or 60% -- of the 42 companies based in the U.S. were founded or co-founded by immigrants. The founders of those companies "hail from 25 countries, with India leading (nine founders), followed by China (eight founders) and then France (three founders). Australia, the U.K., Canada, Israel, Romania, and Chile all have two founders each."

Among them is OpenAI -- whose co-founders include Elon Musk, born in South Africa, and Ilya Sutskever, born in Russia -- and Databricks, whose co-founders were born in Iran, Romania and China. The analysis echoes previous findings about the key role foreign-born scientists and engineers have played in the U.S. tech industry and the broader economy.

China

China Outs US Hackers for Attack, a New Frontier in Spy Games (bloomberg.com) 32

China's outing of alleged US National Security Agency hackers marks a major escalation in the ongoing tit-for-tat between Chinese and American intelligence agencies, according to analysts. From a report: Chinese authorities Tuesday said three NSA employees hacked the Asian Winter Games held this year in Harbin, accusing them of targeting systems that held vast amounts of personal information on people involved in the event. The hacks "severely endangered the security of China's critical information infrastructure, national defense, finance, society, production, as well as citizens' personal information," Chinese foreign ministry spokesman Lin Jian told reporters.

While the US has repeatedly published names of alleged Chinese hackers and filed criminal charges against them, China has historically refrained from making similar accusations against American spies. Rafe Pilling, director of threat intelligence at the cyber firm Sophos' Secureworks unit, said the development may signal a broader policy change from Chinese security agencies, with allegations of US cyberattacks becoming more specific and timely. "This is an escalation in China's experimentation with 'name and shame' policies for the alleged perpetrators of cyberattacks, mirroring US pursuit of a similar policy for a number of years now," said Pilling.

AI

Publishers and Law Professors Back Authors in Meta AI Copyright Battle 14

Publishers and law professors have filed amicus briefs supporting authors who sued Meta over its AI training practices, arguing that the company's use of "thousands of pirated books" fails to qualify as fair use under copyright law.

The filings [PDF] in California's Northern District federal court came from copyright law professors, the International Association of Scientific, Technical and Medical Publishers (STM), Copyright Alliance, and Association of American Publishers. The briefs counter earlier support for Meta from the Electronic Frontier Foundation and IP professors.

While Meta's defenders pointed to the 2015 Google Books ruling as precedent, the copyright professors distinguished Meta's use, arguing Google Books told users something "about" books without "exploiting expressive elements," whereas AI models leverage the books' creative content.

"Meta's use wasn't transformative because, like the AI models, the plaintiffs' works also increased 'knowledge and skill,'" the professors wrote, warning of a "cascading effect" if Meta prevails. STM is specifically challenging Meta's data sources: "While Meta attempts to label them 'publicly available datasets,' they are only 'publicly available' because those perpetuating their existence are breaking the law."
China

China Halts Rare Earth Exports Globally (fortune.com) 361

Longtime Slashdot reader AmiMoJo shares the news that China has halted all rare earth exports globally -- including to the U.S., Japan, and Germany. Fortune reports: After Trump unveiled his "Liberation Day" tariffs on April 2, China retaliated on April 4 with its own duties as well as export controls on several rare earth minerals and magnets made from them. So far, those export controls have translated to a halt across the board, cutting off the U.S. and other countries, according to the New York Times. That's because any exports of the minerals and magnets now require special licenses, but Beijing has yet to fully establish a system for issuing them, the report said.

In the meantime, shipments of rare earths have been halted at many ports, with customs officials blocking exports to any country, including to the U.S. as well as Japan and Germany, sources told theÂTimes. China's Ministry of Commerce issued export restrictions alongside the General Administration of Customs, prohibiting Chinese businesses from any engagement with U.S. firms, especially defense contractors. While the Trump administration unveiled tariff exemptions on a range of key tech imports late Friday night, China's magnet exports were still halted through the weekend, industry sources told the Times. Beijing's export halt is notable because China has a stranglehold on global supplies of rare earths and magnets derived from them. They also represent an asymmetric advantage in that rare earths constitute a small share of China's exports but have an outsize impact on trade partners like the U.S., which relies on them as critical inputs for the auto, chip, aerospace, and defense industries.

Earth

Climate Crisis Has Tripled Length of Deadly Ocean Heatwaves, Study Finds (theguardian.com) 67

The climate crisis has tripled the length of ocean heatwaves, a study has found, supercharging deadly storms and destroying critical ecosystems such as kelp forests and coral reefs. From a report: Half of the marine heatwaves since 2000 would not have happened without global heating, which is caused by burning fossil fuels. The heatwaves have not only become more frequent but also more intense: 1C warmer on average, but much hotter in some places, the scientists said.

The research is the first comprehensive assessment of the impact of the climate crisis on heatwaves in the world's oceans, and it reveals profound changes. Hotter oceans also soak up fewer of the carbon dioxide emissions that are driving temperatures up. "Here in the Mediterranean, we have some marine heatwaves that are 5C hotter," said Dr Marta Marcos at the Mediterranean Institute for Advanced Studies in Mallorca, Spain, who led the study. "It's horrible when you go swimming. It looks like soup."

As well as devastating underwater ecosystems such as sea grass meadows, Marcos said: "Warmer oceans provide more energy to the strong storms that affect people at the coast and inland."

United Kingdom

UK Laws Are Not 'Fit For Social Media Age' (independent.co.uk) 48

An anonymous reader quotes a report from the New York Times: British laws restricting what the police can say about criminal cases are "not fit for the social media age (source paywalled; alternative source)," a government committee said in a report released Monday in Britain that highlighted how unchecked misinformation stoked riots last summer. Violent disorder, fueled by the far right, affected several towns and cities for days after a teenager killed three girls on July 29 at a Taylor Swift-themed dance class in Southport, England. In the hours after the stabbings, false claims that the attacker was an undocumented Muslim immigrant spread rapidly online. In a report looking into the riots, a parliamentary committee said a lack of information from the authorities after the attack "created a vacuum where misinformation was able to grow." The report blamed decades-old British laws, aimed at preventing jury bias, that stopped the police from correcting false claims. By the time the police announced the suspect was British-born, those false claims had reached millions.

The Home Affairs Committee, which brings together lawmakers from across the political spectrum, published its report after questioning police chiefs, government officials and emergency workers over four months of hearings. Axel Rudakubana, who was sentenced to life in prison for the attack, was born and raised in Britain by a Christian family from Rwanda. A judge later found there was no evidence he was driven by a single political or religious ideology, but was obsessed with violence. [...] The committee's report acknowledged that it was impossible to determine "whether the disorder could have been prevented had more information been published." But it concluded that the lack of information after the stabbing "created a vacuum where misinformation was able to grow, further undermining public confidence," and that the law on contempt was not "fit for the social media age."

United Kingdom

Librarians in UK Increasingly Asked To Remove Books (theguardian.com) 165

An anonymous reader shares a report: Requests to remove books from library shelves are on the rise in the UK, as the influence of pressure groups behind book bans in the US crosses the Atlantic, according to those working in the sector. Although "the situation here is nowhere [near] as bad, censorship does happen and there are some deeply worrying examples of library professionals losing their jobs and being trolled online for standing up for intellectual freedom on behalf of their users," said Louis Coiffait-Gunn, CEO of the Chartered Institute of Library and Information Professionals (Cilip).

Ed Jewell, president of Libraries Connected, an independent charity that represents public libraries, said: "Anecdotal evidence from our members suggests that requests to remove books are increasing." The School Library Association (SLA) said this year has seen an "increase in member queries about censorship." Most of the UK challenges appear to come from individuals or small groups, unlike in the US, where 72% of demands to censor books last year were brought forward by organised groups, according to the American Library Association earlier this week.

However, evidence suggests that the work of US action groups is reaching UK libraries too. Alison Hicks, an associate professor in library and information studies at UCL, interviewed 10 UK-based school librarians who had experienced book challenges. One "spoke of finding propaganda from one of these groups left on her desk," while another "was directly targeted by one of these groups." Respondents "also spoke of being trolled by US pressure groups on social media, for example when responding to free book giveaways."

Facebook

Facebook Sought To 'Neutralize' Competitive Threats, FTC Argues As Landmark Antitrust Trial Begins (deadline.com) 18

An anonymous reader shares a report: An attorney for the Federal Trade Commission told a judge that Facebook, fearing the competitive threat of Instagram posted to their social media network, acquired both as a way to "neutralize" the rival. "They decided that competition was too hard," the FTC's attorney, Daniel Matheson, said in his opening statement in the government's antitrust case against the Meta Platforms social media empire.

He argued that with Meta's monopoly in social media, "consumers do not have reasonable alternatives they can turn to," even as satisfaction has declined. At stake is the potential breakup of Facebook-parent Meta, as the government has zeroed in on the 2012 acquisition of Instagram and 2014 purchase of WhatsApp.

United States

Nvidia To Make AI Supercomputers in US for First Time (nvidia.com) 37

Nvidia has announced plans to manufacture AI supercomputers entirely within the United States, commissioning over 1 million square feet of manufacturing space across Arizona and Texas. Production of Blackwell chips has begun at TSMC's Phoenix facilities, while supercomputer assembly will occur at new Foxconn and Wistron plants in Houston and Dallas respectively.

"The engines of the world's AI infrastructure are being built in the United States for the first time," said Jensen Huang, Nvidia's founder and CEO. "Adding American manufacturing helps us better meet the incredible and growing demand for AI chips and supercomputers, strengthens our supply chain and boosts our resiliency."

The company will deploy its own AI, robotics, and digital twin technologies in these facilities, using Nvidia Omniverse to create digital twins of factories and Isaac GR00T to build manufacturing automation robots. Nvidia projects an ambitious $500 billion in domestic AI infrastructure production over the next four years, with manufacturing expected to create hundreds of thousands of jobs.
United States

Trump Denies Tariff 'Exception' for Electronics, Promises New Electronics Tariffs Soon (go.com) 230

Late Friday news broke that U.S. President Trump's new tariffs included exemptions for smartphones, computer monitors, semiconductors, and other electronics. But Sunday morning America's commerce secretary insisted "a special-focus type of tariff" was coming for those products, reports ABC News. President Trump "is saying they're exempt from the reciprocal tariffs," the commerce secretary told an interviewer, "but they're included in the semiconductor tariffs, which are coming in probably a month or two.... This is not like a permanent sort of exemption."

The Wall Street Journal notes that Sunday the president himself posted on social media that "NOBODY is getting 'off the hook' for the unfair Trade Balances, and Non Monetary Tariff Barriers... There was no Tariff 'exception' announced on Friday. These products are subject to the existing 20% Fentanyl Tariffs, and they are just moving to a different Tariff 'bucket.'"

"The administration is expected to take the first step toward enacting the new tariffs as soon as next week," reports the New York Times, "opening an investigation to determine the effects of semiconductor imports on national security."

More from ABC News: Commerce Secretary Howard Lutnick said Sunday that the administration's decision Friday night to exempt a range of electronic devices from tariffs implemented earlier this month was only a temporary reprieve.. Lutnick said on "This Week" that the White House will implement "a tariff model in order to encourage" the semiconductor industry, as well as the pharmaceutical industry, to move its business to the United States. "We can't be beholden and rely upon foreign countries for fundamental things that we need," he said.... "These are things that are national security that we need to be made in America."
Education

Palantir's 'Meritocracy Fellowship' Urges High School Grads to Skip College's 'Indoctrination' and Debt (thestreet.com) 122

Stanford law school graduate Peter Thiel later co-founded Facebook, PayPal, and Palantir. But in 2010 Thiel also created the Thiel Fellowship, which annually gives 20 to 30 people under the age of 23 $100,000 "to encourage students to not stick around college." (College students must drop out in order to accept the fellowship.)

And now Palantir "is taking a similar approach as it maneuvers to attract new talent," reports financial news site The Street: The company has launched what it refers to as the "Meritocracy Fellowship," a four-month internship program for recent high school graduates who have not enrolled in college. The position pays roughly $5,400 per month, more than plenty of post-college internship programs. Palantir's job posting suggests that the company is especially interested in candidates with experience in programming and statistical analysis.
Palantir's job listing specifically says they launched their four-month fellowship "in response to the shortcomings of university admissions," promising it would be based "solely on merit and academic excellence" (requiring an SAT score over 1459 or an ACT score above 32.) "Opaque admissions standards at many American universities have displaced meritocracy and excellence..." As a result, qualified students are being denied an education based on subjective and shallow criteria. Absent meritocracy, campuses have become breeding grounds for extremism and chaos... Skip the debt. Skip the indoctrination. Get the Palantir Degree...

Upon successful completion of the Meritocracy Fellowship, fellows that have excelled during their time at Palantir will be given the opportunity to interview for full-time employment at Palantir.

United States

America's Dirtiest Coal Power Plants Given Exemptions from Pollution Rules to Help Power AI (msn.com) 126

Somewhere in Montana sits the only coal-fired power plant in America that hasn't installed modern pollution controls to limit particulate matter, according to the Environmental Protecction Agency. Mining.com notes that it has the highest emission rate of fine particulate matter out of any U.S. coal-burning power plant. When inhaled, the finest particles are able to penetrate deep into the lungs and even potentially the bloodstream, exacerbating heart and lung disease, causing asthma attacks and even sometimes leading to premature death.
Yet America's dirtiest coal-fired power plant — and dozens of others — "are being exempted from stringent air pollution mandates," reports Bloomberg, "as part of US. President Donald Trump's bid to revitalize the industry: Talen Energy Corp.'s Colstrip in Montana is among 47 plants receiving two-year waivers from rules to control mercury and other pollutants as part of a White House effort to ease regulation on coal-fired sites, according to a list seen by Bloomberg News. The exemptions were among a slew of actions announced by the White House Tuesday to expand the mining and use of coal. The Trump administration has argued coal is a vital part of the mix to ensure sufficient energy supply to meet booming demand for AI data centers. The carve-out, which begins in July 2027, lasts until July 2029, according to the proclamation.
In an email to Bloomberg, a White House spokesperson said the move meant that America "will produce beautiful, clean coal" while addressing "necessary electrical demand from emerging technologies such as AI."
Operating Systems

FreeDOS Celebrates More Than 30 Years of Command Prompts With New Release (arstechnica.com) 19

When Microsoft announced it would stop developing MS-DOS after 1995, college student Jim Hall "packaged my own extended DOS utilities, as did others," according to the web site for the resulting "FreeDOS" project.

Jim Hall is also Slashdot reader #2,985, and more than 30 years later he's "keeping the dream of the command prompt alive," writes Ars Technica. In a new article they note that last week the FreeDOS team released version 1.4, the first new stable update since 2022: The release has "a focus on stability" and includes an updated installer, new versions of common tools like fdisk, and format and the edlin text editor. The release also includes updated HTML Help files... As with older versions, the FreeDOS installer is available in multiple formats based on the kind of system you're installing it on. For any "modern" PC (where "modern" covers anything that's shipped since the turn of the millennium), ISO and USB installers are available for creating bootable CDs, DVDs, or USB drives. FreeDOS is also available for vintage systems as a completely separate "Floppy-Only Edition" that fits on 720KB, 1.44MB, or 1.2MB 5.25 and 3.5-inch floppy disks.
Jim Hall composed a detailed introduction to FreeDOS 1.4 here.

He also answered questions from Slashdot's readers back in 2000 and again in 2019.
United States

FSF Urges US Government to Adopt Free-as-in-Freedom Tax Filing Software (fsf.org) 123

"A modern free society has an obligation to offer electronic tax filing that respects user freedom," says a Free Software Foundation blog post, "and the United States is not excluded from this responsibility."

"Governments, and/or the companies that they partner with, are responsible for providing free as in freedom software for necessary operations, and tax filing is no exception." For many years now, a large portion of [U.S.] taxpayers have filed their taxes electronically through proprietary programs like TurboTax. Millions of taxpayers are led to believe that they have no other option than to use nonfree software or Service as a Software Substitute (SaaSS), giving up their freedom as well as their most private financial information to a third-party company, in order to file their taxes...

While the options for taxpayers have improved slightly with the IRS's implementation of the IRS Direct File program [in 25 states], this program unfortunately does require users to hand over their freedom when filing taxes.... Taxpayers shouldn't have to use a program that violates their individual freedoms to file legally required taxes. While Direct File is a step in the right direction as the program isn't in the hands of a third-party entity, it is still nonfree software. Because Direct File is a US government-operated program, and ongoing in the process of being deployed to twenty-five states, it's not too late to call on the IRS to make Direct File free software.

In the meantime, if you need to file US taxes and are yet to file, we suggest filing your taxes in a way that respects your user freedom as much as possible, such as through mailing tax forms. Like with other government interactions that snatch away user freedom, choose the path that most respects your freedom.

Free-as-in-freedom software would decrease the chance of user lock-in, the FSF points out. But they list several other advantages, including:
  • Repairability: With free software, there is no uncertain wait period or reliance on a proprietary provider to make any needed bug or security fixes.
  • Transparency: Unless you can check what a program really does (or ask someone in the free software community to check for you), there is no way to know that the program isn't doing things you don't consent to it doing.
  • Cybersecurity: While free software isn't inherently more secure than nonfree software, it does have a tendency to be more secure because many developers can continuously improve the program and search for errors that can be exploited. With proprietary programs like TurboTax, taxpayers and the U.S. government are dependent on TurboTax to protect the sensitive financial and personal information of millions with few (if any) outside checks and balances...
  • Taxpayer dollars spent should actually benefit the taxpayers: Taxpayer dollars should not be used to fund third-party programs that seek to control users and force them to use their programs through lobbying....

"We don't have to accept this unjust reality: we can work for a better future, together," the blog post concludes (offering a "sample message" U.S. taxpayers could send to IRS Commissioner Danny Werfel).

"Take action today and help make electronic tax filing free as in freedom for everyone."


Open Source

Torvalds Celebrates Git's 20th Anniversary. Is It More Famous Than Linux? (itsfoss.com) 114

Celebrating Git's 20th anniversary, GitHub hosted a Q&A with Linus Torvalds, writes Its FOSS News.

Among the other revelations: He says his college-age daughter sent a texting saying he's better known at her CS lab for Git than for Linux, "because they actually use Git for everything there." Which he describes as "ridiculous" because he maintained it for just four months before handing it off to Junio Hamano who's been heading up development for more than 19 years now. "When it did what I needed," Torvalds says, "I lost interest." Linus then goes on to share how Git was never a big thing for him, but a means to an end that prevented the Linux kernel from descending into chaos over the absence of a version control system. You see, before Git, Linux used BitKeeper for version control, but its proprietary licensing didn't sit too well with other Linux contributors, and Linus Torvalds had to look for alternatives. As it turned out, existing tools like CVS and Subversion were too slow for the job at hand, prompting him to build a new tool from scratch, with the coding part just taking 10 days for an early self-hostable version of Git.

In its initial days, there were some teething issues, where users would complain about Git to Linus, even finding it too difficult to use, but things got calmer as the tool developed further.

Torvalds thinks some early adopters had trouble because they were coming from a background that was more like CVS. "The Git mindset, I came at it from a file system person's standpoint, where I had this disdain and almost hatred of most source control management projects, so I was not at all interested in maintaining the status quo."
China

WSJ Says China 'Acknowledged Its Role in U.S. Infrastructure Hacks' (msn.com) 48

Here's an update from the Wall Street Journal about a "widespread series of alarming cyberattacks on U.S. infrastructure."

China was behind it, "Chinese officials acknowledged in a secret December meeting... according to people familiar with the matter..." The Chinese delegation linked years of intrusions into computer networks at U.S. ports, water utilities, airports and other targets, to increasing U.S. policy support for Taiwan, the people, who declined to be named, said... U.S. officials went public last year with unusually dire warnings about the uncovered Volt Typhoon effort. They publicly attributed it to Beijing trying to get a foothold in U.S. computer networks so its army could quickly detonate damaging cyberattacks during a future conflict. [American officials at the meeting perceived the remarks as "intended to scare the U.S. from involving itself if a conflict erupts in the Taiwan Strait."]

The Chinese official's remarks at the December meeting were indirect and somewhat ambiguous, but most of the American delegation in the room interpreted it as a tacit admission and a warning to the U.S. about Taiwan, a former U.S. official familiar with the meeting said... In a statement, the State Department didn't comment on the meeting but said the U.S. had made clear to Beijing it will "take actions in response to Chinese malicious cyber activity," describing the hacking as "some of the gravest and most persistent threats to U.S. national security...."

A Chinese official would likely only acknowledge the intrusions even in a private setting if instructed to do so by the top levels of Xi's government, said Dakota Cary, a China expert at the cybersecurity firm SentinelOne. The tacit admission is significant, he said, because it may reflect a view in Beijing that the likeliest military conflict with the U.S. would be over Taiwan and that a more direct signal about the stakes of involvement needed to be sent to the Trump administration. "China wants U.S. officials to know that, yes, they do have this capability, and they are willing to use it," Cary said.

The article notes that top U.S. officials have said America's Defense Department "will pursue more offensive cyber strikes against China."

But it adds that the administration "also plans to dismiss hundreds of cybersecurity workers in sweeping job cuts and last week fired the director of the National Security Agency and his deputy, fanning concerns from some intelligence officials and lawmakers that the government would be weakened in defending against the attacks."
The Almighty Buck

America's Justice Department Shuts Down Its Cryptocurrency Fraud Unit (usatoday.com) 71

America's Justice Department "has shut down its unit that investigates cryptocurrency fraud," reports USA Today.

A Monday night memo from U.S. Deputy Attorney General Todd Blanche said the shut down was "effective immediately." Blanche directed the closure of the National Cryptocurrency Enforcement Team and ordered prosecutors to pivot to investigating transnational criminal organizations and terrorist groups that use crypto to engage in illicit transactions... In his four-page memo, Blanche said the new order was meant to bring the Justice Department in line with Trump's own Executive Order 14178, which decreed that clarity and certainty regarding enforcement policy "are essential to supporting a vibrant and inclusive digital economy and innovation in digital assets." Blanche, one of several Trump criminal defense lawyers at the top ranks of DOJ, said the president "has also made clear that '[w]e are going to end the regulatory weaponization against digital assets'..."

Consistent with that narrowing of its cryptocurrency enforcement policy, the DOJ Market Integrity and Major Frauds Unit will also cease cryptocurrency enforcement to focus on other administration priorities, including immigration and procurement fraud, Blanche said.

The Washington Post got this assessment from Yesha Yadav, a Vanderbilt University law professor who closely follows cryptocurrency and financial markets. "It's hard to underestimate the importance this task force has had ... in pursuing some really huge crypto hacks and cases."

More from USA Today: Public corruption and transnational crime experts warned that shutting down the unit could divert critical resources from efforts to stop criminals and corrupt regimes from using cryptocurrency for illicit gain, even as Trump claims he wants to crack down on them. "Dangerous US adversaries rely on cryptocurrencies to launder money and evade sanctions," said Nate Sibley, an anti-corruption expert and director of the Kleptocracy Initiative at the conservative Hudson Institute think tank in Washington, D.C., in a post on X. "If this is accurate, hard to see how it squares with — for example-cracking down on cartel finances or maximum pressure sanctions on Iran...."

Trump's so-called "memecoin" surged from less than $10 on the Saturday before his inauguration to as high as $74.59 before eventually giving up some of its gains. The token, branded $TRUMP, has been criticized by ethics experts as a conflict of interest for the president since the company could likely benefit from his pro-crypto policies...

Last month, Trump signed an order to create a federal Strategic Bitcoin Reserve, signaling new federal support for cryptocurrency in general and Bitcoin in particular.

Since the first-ever White House crypto summit in March, America's Securities and Exchange Commission "has dropped more than a dozen cases against crypto firms," notes the Washington Post: Last month, both the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency pledged to stop evaluating banks based on "reputational risk" — a practice that some venture capitalists have claimed unfairly "de-banked" founders of cryptocurrency start-ups.
In other news, executives from cryptocurrency exchange Binance "met with Treasury Department officials last month," reports the Wall Street Journal, asking them to remove a U.S. monitor overseeing their compliance with anti-money-laundering laws, according to people familiar with the talks.

The article adds that Binance is also concurrently "exploring" a deal with the Trump family to list its new dollar-pegged stablecoin which "could catapult it into a huge market and potentially bring in billions in profit for the family. "

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