A federal judge has stopped the Trump administration from imposing fixed limits on how long foreign students, exchange visitors and journalists may remain in the United States, blocking a major immigration rule one day before it was due to take effect. U. S. District Judge F. Dennis Saylor IV in Boston issued a preliminary injunction on Monday, September 14, finding that the Department of Homeland Security had […]
Netflix, Amazon and YouTube have created a Washington-based lobbying coalition to press for policies favouring consumer choice and technology-neutral treatment of streaming services as political scrutiny intensifies over the migration of live sport from traditional television. The Streaming Access and Choice Alliance, or SACA, was announced on Monday with the three companies as founding members and TechNet, a technology industry advocacy group, leading the organisation. Mike Ward, […]
The US Supreme Court has refused to let the Postal Service enforce new restrictions on mail-in ballots before the November midterm elections, leaving in place a lower-court order that bars the rules while legal challenges continue. The justices on Monday rejected the Trump administration’s emergency request to lift an injunction imposed by US District Judge Indira Talwani in Boston. The court said in an unsigned order that […]
President Donald Trump has rejected calls for tougher artificial intelligence safeguards, arguing that existing US powers are sufficient even as security specialists warn that faster AI systems are widening the attack surface for cryptocurrency platforms and decentralised finance. Trump said on September 14 that additional safeguards were unnecessary and dismissed warnings from technology executives about uncontrolled development. His position places the White House at odds with industry […]
Eight major US banking trade groups have urged Senate leaders to tighten the CLARITY Act’s restrictions on stablecoin rewards, warning that a new regulatory “circuit breaker” would take effect only after damaging deposit outflows had already occurred. The warning came in a joint letter sent on Monday to Senate Majority Leader John Thune and Democratic Leader Chuck Schumer ahead of a procedural vote scheduled for Tuesday, September […]
US Senator Bernie Sanders and former Trump adviser Steve Bannon will appear at a Washington gathering on Tuesday, joining labour, religious and political figures calling for controls over advanced artificial intelligence. The Pro-Human Assembly, organised by the Future of Life Institute, is expected to bring together participants who rarely share a political platform but have converged around concerns that advancing AI could threaten jobs, autonomy, democratic institutions […]
Arabian Post Staff -Dubai Wall Street is preparing for the Federal Reserve to raise interest rates this week for the first time since July 2023, after another surge in oil prices and stubborn inflation pushed market expectations decisively towards tighter policy. Interest-rate futures on Monday assigned roughly a 90% probability to a quarter-point increase at the Federal Open Market Committee’s September 15-16 meeting. A move of 25 […]
Calls by leading artificial intelligence executives to slow development of advanced models pressured Asian semiconductor shares on Monday, but investors and strategists said robust spending on computing infrastructure was likely to keep the longer-term AI investment cycle intact. Samsung Electronics fell as much as 4.1% in early trading, while South Korea’s SK Hynix dropped 5.8%. Japan’s Advantest declined 4.7% and Kioxia Holdings slid 9.3% as markets assessed […]
Artificial intelligence leaders are facing mounting resistance from investors and President Donald Trump after calls by Anthropic and OpenAI to slow the advance of frontier models triggered sharp losses in technology shares and exposed a widening dispute over how quickly the industry should proceed. Anthropic chief executive Dario Amodei has urged leading developers to reduce the pace at which they improve model capabilities, arguing that safety systems […]
Bitcoin faces renewed downside warnings after Bloomberg Intelligence senior commodity strategist Mike McGlone argued that a stock-market correction and tighter US monetary policy could drive the cryptocurrency sharply lower, potentially towards $10,000. McGlone’s latest bearish case centres on Bitcoin’s failure to establish a sustained break above $80,000, its increasing sensitivity to equities and the prospect that higher interest rates could pressure speculative assets. Bitcoin was trading near […]
Binance has set out a compliance and user-protection drive in West Africa as regulators in the region move to bring cryptocurrency trading, custody and related services under oversight. Its approach combines identity checks, transaction monitoring, sanctions screening, fraud prevention, asset-security controls and co-operation with law-enforcement agencies. Binance also says it now has more than 1,500 people in compliance-related roles globally, spending about $300 million a year on […]
The National Media Authority has joined the 35th Abu Dhabi International Book Fair, using its pavilion to highlight media regulation, publishing services and content-sector initiatives. The authority is taking part in the fair from September 13 to 18 at ADNEC Centre Abu Dhabi, where its pavilion in Hall 5 is hosting sessions, initiatives and activities focused on media, culture and content creation. The participation places the federal […]
Ether remained confined to a narrow trading range after more than 116,000 tokens were withdrawn from cryptocurrency exchanges over 48 hours, a shift that reduced immediately available supply while traders watched whether the market could break through resistance around $2,500. The withdrawals, valued at roughly $300 million at prevailing prices, were highlighted by crypto analyst Ali Martinez. Exchange outflows can indicate that holders are moving assets into […]
Dogecoin co-creator Billy Markus has joked that the US government should spend $1.2 trillion buying Dogecoin and distribute the cryptocurrency to Americans, turning a contentious cash-dividend proposal into a meme-coin thought experiment rather than advancing a formal policy plan. Markus, who uses the name Shibetoshi Nakamoto on X, made the remark on September 12 while responding to President Donald Trump’s promise of a $5,000 payment to every […]
Cisco has warned that attackers are actively exploiting two vulnerabilities in its Secure Firewall Management Center software, with intrusions leading to root-level access, credential theft, reconnaissance and malware deployment on compromised systems. Cisco Talos said on September 9 that it had identified three clusters of post-compromise activity involving CVE-2026-20079 and CVE-2026-20316. The first flaw, rated a maximum 10.0 on the CVSS scale, can let an unauthenticated remote […]
JetBlue Airways has lowered its third-quarter capacity growth forecast after severe weather and air traffic control disruptions hit operations across the northeastern United States, adding cost pressure as the carrier pursues its profitability turnaround. The New York-based airline now expects available seat miles, a standard measure of capacity, to rise 1.5% to 3.5% from a year earlier in the quarter ending September 30. Its previous forecast, issued […]
US producer prices rose 5.4 per cent in the 12 months through August, accelerating from July and coming in slightly above market expectations, as higher energy costs pushed wholesale inflation to its strongest annual pace in months. The Producer Price Index for final demand increased 0.4 per cent from July on a seasonally adjusted basis, the Bureau of Labor Statistics said on Thursday. The monthly rise matched […]
The US Treasury has sanctioned Xinbi Guarantee, a Chinese-language illicit marketplace accused of connecting Southeast Asian scam centres and transnational crime groups with money launderers, technology providers and other criminal-service vendors. The Office of Foreign Assets Control designated Xinbi Guarantee on September 9 as a significant transnational criminal organisation, while also sanctioning Singapore-based SafeW Technology Co Ltd and Cambodia-based Anwen Technology Co Ltd for providing technological and […]
Lam admitted one count of participating in a racketeering conspiracy before US District Judge Colleen Kollar-Kotelly on Tuesday, September 8. Prosecutors said he organised a network that targeted cryptocurrency holders through social engineering scams, online intrusions and, on some occasions, break-ins at victims’ homes.
The US Attorney’s Office for the District of Columbia said the criminal enterprise operated from at least October 2023 until May 2025 and included participants based in California, Connecticut, New York, Florida and overseas. Lam, who also used several online aliases, identified targets and coordinated roles among members of the group.
One of the organisation’s largest thefts occurred in August 2024, when Lam and associates obtained more than 4,100 bitcoin from a victim in Washington. Court records say conspirators impersonated representatives of trusted companies, including Google and cryptocurrency exchange Gemini, and persuaded the victim to provide access information and authentication codes.
Those details allowed the group to gain control of the victim’s cryptocurrency holdings and transfer the bitcoin. Prosecutors have placed the value of that theft at more than $245 million for the purposes of the case, while earlier court filings valued the same 4,100 bitcoin at about $263 million at the time of the alleged transaction.
The broader racketeering case involves 18 defendants, with Lam becoming the 11th to plead guilty. Prosecutors described him as an organiser who played several roles in the enterprise and directed associates involved in obtaining credentials, moving stolen assets and laundering cryptocurrency through exchanges and other channels.
The plea marks a step in the prosecution of a network that authorities say grew out of contacts made through online gaming communities. Investigators allege members specialised in different parts of the operation, including identifying wealthy holders, impersonating corporate security staff, gaining account access and converting stolen cryptocurrency into cash or goods.
Federal authorities have pursued the case under the Racketeer Influenced and Corrupt Organizations Act, a statute more commonly associated with organised criminal enterprises. The charge allows prosecutors to treat coordinated fraud, laundering and related acts as part of one conspiracy rather than as isolated offences.
Court documents also describe occasional home invasions or break-ins used to obtain information from cryptocurrency holders. The Justice Department said the group combined those physical intrusions with deceptive calls and other social engineering methods designed to gain passwords, seed phrases, security codes and related information needed to access digital wallets.
The stolen proceeds financed extensive spending by members of the group. Authorities said the conspiracy paid for private jets, rental properties in Miami, Los Angeles and the Hamptons, luxury clothing, handbags, watches, private security and a fleet of exotic cars. Some vehicles were valued at as much as $3.8 million.
Nightclub spending was another major outlet for the proceeds. Court records cited services costing as much as $500,000 per evening, while Lam was linked to a $569,000 bill during one night at a Los Angeles club. Luxury watches purchased by members of the group were valued from about $100,000 to more than $500,000.
Lam was arrested in Miami after the August 2024 bitcoin theft. The guilty plea followed months of negotiations over whether he would accept an agreement or proceed to trial. Several alleged co-conspirators had indicated they were prepared to testify if the case went before a jury.
At the plea hearing, Lam acknowledged the prosecution’s account and entered his guilty plea to the RICO conspiracy charge. The offence carries a maximum prison term of 20 years, although the sentence will be determined later under federal law and sentencing guidelines.
Judge Kollar-Kotelly scheduled a status hearing for December 8, when the court is expected to address the next steps towards sentencing. Lam and other participants have also been ordered to repay more than $245 million in stolen funds to victims.
Arabian Post Staff -Dubai DP World has priced a dual-tranche international bond offering comprising €750 million of six-year green notes and $750 million of 10-year conventional notes, extending the Dubai-based ports and logistics group’s access to both sustainable and conventional debt markets. The transaction follows a global investor roadshow arranged under DP World’s $10 billion Global Medium Term Note Programme. The euro-denominated tranche is structured as green […]
Canada has used its lead-nation role at Poland’s MSPO arms fair to push its defence industry more forcefully into European markets, pairing a large trade mission with a renewed defence agreement with Warsaw. Defence Minister David McGuinty and International Trade Minister Maninder Sidhu led Ottawa’s presence at the International Defence Industry Exhibition in Kielce, where Canada was designated the 2026 lead nation. The government said its mission […]
PayPal has extended the reach of its dollar-backed stablecoin into custom token issuance, with the PYUSDx developer platform now supporting three live projects and more than $100 million in processed volume. PYUSDx allows businesses and developers to create their own branded onchain tokens while using PayPal USD, or PYUSD, as the economic foundation. M0 built the platform’s programmable infrastructure, while MoonPay Digital Assets Limited handles issuance and […]
Coin Center research director Laz Pieper has called for a shift away from identity-verification systems that routinely collect and retain full copies of personal documents, arguing that privacy-preserving technology could reduce the large stores of sensitive data now targeted by cybercriminals. The warning follows an FBI investigation into claims that a dark-web service offered access to more than 153 million US and Canadian driver’s-licence records, along with […]
US Treasury yields climbed on Wednesday as oil prices pushed above $100 a barrel, intensifying concern that higher energy costs could keep inflation elevated and persuade the Federal Reserve to raise interest rates at its September 15-16 meeting. The benchmark 10-year Treasury yield moved above 4.8%, touching its highest level since late 2023, while longer-dated yields remained under pressure as investors reassessed the inflation outlook and the […]
