Today in crypto, Avalanche recorded the highest blockchain transaction growth in a week, with activity rising 66% to 11.9 million transactions across 181,300 active addresses. The US Treasury Department’s FinCEN revealed that US banks have …
Today in crypto, Avalanche recorded the highest blockchain transaction growth in a week, with activity rising 66% to 11.9 million transactions across 181,300 active addresses. The US Treasury Department’s FinCEN revealed that US banks have been facilitating billions each year for suspected Chinese money launderers. Meanwhile, the US Commodity Futures Trading Commission opened a pathway for offshore exchanges to legally serve American clients.
Avalanche leads blockchain transaction growth amid US gov’t implementation
Avalanche has emerged as the week’s fastest-growing blockchain, outpacing rivals in transaction growth. The smart contract-focused network, designed to boost scalability and usability, is increasingly gaining traction among both investors and institutions.
According to crypto analytics firm Nansen, Avalanche transactions jumped more than 66% over the past week, crossing 11.9 million transactions across 181,300 active addresses. This sharp rise highlights a surge in user engagement and network utility.
The momentum is further fueled by fresh catalysts, including the US government's adoption of Avalanche technology and renewed ETF filings tied to its native AVAX token. Together, these developments are strengthening investor confidence and consolidating Avalanche’s position as a leading blockchain network.
US banks moved $312B in dirty money, but critics still blame crypto
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.
Chinese money laundering networks have formed a symbiotic relationship with Mexico-based drug cartels. The cartels need to launder US dollar drug proceeds, while Chinese gangs want US dollars to circumvent China’s currency control laws, it reported.
In comparison, the entire cryptocurrency space’s illicit crypto volumes totalled around $189 billion over the last five years, according to Chainalysis.
US regulator opens pathway for Americans to trade on offshore crypto exchanges
The US Commodity Futures Trading Commission (CFTC), a US financial regulator, announced on Thursday that offshore crypto exchanges now have a pathway to legally serve US-based clients by registering under the Foreign Board of Trade (FBOT) framework.
US-based clients have had the right to trade on registered offshore platforms since the 1990s under the FBOT registry, and the framework works for all asset classes, acting CFTC Director Caroline Pham said in a statement. Pham said:
“Starting now, the CFTC welcomes back Americans who want to trade efficiently and safely under CFTC regulations, and opens up US markets to the rest of the world. It’s just another example of how the CFTC will continue to deliver wins for President Trump as part of our crypto sprint.”
Allowing offshore exchanges to serve US residents can potentially increase liquidity in the crypto markets and remove the silos that have kept crypto trapped within regions.
