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the Attorney General's Office of Buenos Aires Province, Argentina, coordinated with judicial authorities and police in multiple regions to launch a large-scale joint operation codenamed Fake Coins targeting cryptocurrency fake investment scams. Police conducted 90 simultaneous searches nationwide, arresting 24 suspects. The operation successfully intercepted and seized a total of 8 million USDT, valued at over $8 million, along with nearly 6 million Argentine pesos in cash and a large number of electronic devices.Investigations revealed that the criminal group induced victims to invest through social media and fake apps, with total losses amounting to nearly 3 billion pesos. The San Isidro judicial department seized the majority of the crypto assets during an investigation into a Chinese criminal group, which developed malware to steal user information for money laundering purposes. Part of the funds were reportedly converted to USDT through Binance P2P transactions. (infobae)
: According to Nikkei Asia, Federal Reserve Bank of Minneapolis President Neel Kashkari stated that the Fed may implement a "series" of interest rate hikes in response to inflationary issues triggered by the situation in the Middle East. During the FOMC meeting in late April, the Fed maintained interest rates unchanged. Kashkari and two other officials opposed the decision to include language in the Fed's statement hinting at future monetary policy easing. In a written interview, Kashkari said, "I believe the next interest rate adjustment could be a rate cut, or it could be a rate hike," thereby expressing his differing viewpoint. Kashkari stated that the outcome depends on inflation trends, which hinge on whether the Strait of Hormuz will reopen soon or remain effectively closed due to further damage to infrastructure in the region, the latter of which would exacerbate global energy shortages. Kashkari noted that the concern is that long-term inflation expectations of businesses and households "could become unanchored." He indicated that the FOMC "would likely need to respond forcefully," and rate hikes, possibly even a series of them, might be necessary. (Source: Jinshi Data App)