Mike Klein’s Post

𝙁𝙪𝙣 𝙁𝙖𝙘𝙩 𝙁𝙧𝙞𝙙𝙖𝙮𝙨 Happy Friday! Three simple fun facts about money today: 💰It costs more than a penny to make a penny. 🪙 💰Queen Elizabeth II holds the record for having her mugshot on more currency than any other person. Her face is used in more than 30 different countries. 👸🏻 💰 There is more money printed for Monopoly each year than there is cash around the world. 💵 All these are quirky facts, but you know what is a real currency that everyone would love to have more? Time. Everyone is so busy with work and life that a lot of us wish for more hours in a day to get more things done. Or simply, having more time to rest and for our hobbies. Time is money indeed. Use our time (money) wisely! #funfactfriday #leadership #aml #kyc #fintech #payments #ecommerce #compliance #complianceneversleeps #cryptocompliance #regulatorycompliance #financialcrimecompliance #cryptocurrencies #ilovepayments #SkyHighTower #LBFalumni Image credits: Monopoly game by Hasbro

Friday May 24th at 630pm EST As a black woman have you ever felt like the rules of the financial game are written without you in mind? You're not alone. Many Black women find traditional banking systems restrictive or misaligned with their needs and aspirations. What if there was a way to rewrite those rules? Enter cryptocurrency—a tool that is reshaping the landscape of financial independence. Join us this Friday for a specially curated Memorial Day Weekend event for Black women who want to take control of their economic destiny and build outside of the system. This isn’t just about investing; it's about understanding a revolutionary tool that offers privacy, equity, and access outside the traditional financial systems. What You'll Gain - Insight into Crypto: Learn how digital currencies operate beyond conventional banking, offering fewer barriers and more autonomy. Hands-On Experience: We’ll walk you through setting up your first crypto wallet and even kickstart your journey with some initial funds. Community Connection: Meet peers who are also curious and motivated about using technology for financial empowerment. Click here for more details and how to register: https://lnkd.in/gtWqgGeK

There are none so aware of the problems of the current financial system than those it was not designed for. Prejudice and confirmation bias is inherent in the way that access to financial products is distributed; particularly around funding for individual or commercial use. For Black Americans, this is not just their lived experience, it is clear in the data. Black American customers surveyed by Coinbase are twice as likely to have been negatively impacted by the current financial system. This is also true for Black entrepreneurs. The Intuit QuickBooks report shows that 57% of Black business owners were denied a bank loan at least once when they started their businesses, compared to 37% of non-Black business owners. The power of blockchain technologies addresses these imbalances in recreating the financial system without some of these drawbacks. Gone are the days when your name, your neighborhood or your school could count against you. Payment infrastructure is open to all – so they can all benefit from transactions that are instant, low cost and international. While this may be Black History Month, Blockchain and crypto may be more aptly positioned around Black Future Month: 38% of Black Americans under 40 have owned crypto compared with 25% of Black Americans of any age – this is against 18% of the population overall. Most are Hodlers, taking a long-term view and seeing crypto as a route to “a seat at the table.” Now with Bitcoin ETFs attracting $$ billions, the risk is even less for those wishing to benefit without owning the asset themselves. We celebrate that blockchain technologies and crypto services can play a key part in a new system to support the financial well-being of our Black American communities as individuals and businesses.  

🇷🇺 Transparency International #Russia has published an #investigative report entitled "Anonymity for Sale: The Thriving Black Market of Crypto-to-Fiat Mules." The study provides an in-depth analysis of the mechanisms facilitating the conversion of #cryptocurrencies into #fiat currencies through #anonymous channels. Highlights from the #report: - Discovery of a #blackmarket for the sale of verified accounts, enabling the covert transfer of funds. - The process of acquiring such accounts remains straightforward and #anonymous, despite legal prohibitions. - Identification of practices such as #smurfing, which involves the fragmentation of large transactions to evade detection by #antimoneylaundering monitors. - Recommendations for service providers, including #Wirex, to strengthen their monitoring processes, and for collaboration between #AML supervisory bodies in the UK and EU to be enhanced. The findings point to critical vulnerabilities in the #financialsystem, presenting opportunities for #illicit integration of funds. The report advocates for heightened #regulatory oversight to mitigate these #risks.

Have you heard? CENTRAL BANKS PREPARING FOR THE US DOLLAR COLLAPSE! Apparently, amid BRICS de-dollarization, financial expert Peter Schiff explained in his latest Twitter post the increase in foreign central banks’ gold acquisition strategies pointing to this probability.   And what about you? Are you preparing?   Concepts like “the collapse of the Western financial system” and the “Great Reset” may alert your visceral brain and make you wonder about the resilience of your business in the eventuality of those scenarios, especially after what happened in 2020… If that’s your case, delve with me in this 7-minute video and consider this challenge: Would your business pass the future-proofing test?   Remember, EVERYTHING YOU WANT IS ON THE OTHER SIDE OF FEAR. https://lnkd.in/dAzfZxBb   #BlackBusiness #BlackOwnedBusinesses #Web3 #Metaverse #DigitalEconomy #Cryptocurrency #BlockchainTechnology #GenerationZ #DigitalTransformation #Innovation #FutureProofing

The shocking conviction of CEO Michael Tew for a multimillion-dollar fraud is a stark reminder of the need for ethical leadership. Tew's false invoices and lavish lifestyle, funded by deceit and high-risk Bitcoin ventures, highlight the dangers of unchecked power. His company's reputation is tarnished, emphasizing the importance of corporate governance. As professionals, we must advocate for integrity in business. Thoughts? #EthicsInBusiness #CorporateGovernance #LeadershipFailures Original article: https://lnkd.in/epzNKKyJ

FTX's bankruptcy lawyers at Sullivan & Cromwell were not complicit in the fraud that caused the crypto company to collapse, a court-appointed examiner concluded. The DOJ’s lawsuit with a group of 30 states accusing Live Nation of monopolizing concert tickets and promotions includes Bonny Sweeney, a longtime former plaintiffs’ lawyer who joined the Biden administration as it was ramping up antitrust enforcement. President Biden announced four new judicial nominees, including a sitting judge's daughter who would serve on the same U.S. appeals court. Republican U.S. Senator Steve Daines of Montana said he will oppose Biden’s pick who would have become the first Native American to serve as a federal district court judge in his home state, likely dooming her nomination. Subscribe to The Daily Docket for the latest legal news: https://reut.rs/4aBvwvO #legal #legalnews #legalindustry #lawfirms #lawyers #judiciary #biden #antitrust #bankruptcy #cryptocurrency

Just watched an eye-opening video on the challenges crypto investors face during company bankruptcies: - Complex Process: Investors often feel excluded and frustrated due to outdated laws and lack of transparency. - Time to Evolve: It's clear we need updated bankruptcy laws to adapt to the digital age and protect retail investors. - Real Stories: Heartbreaking tales of losses highlight the urgent need for better protections. What are your thoughts on the need for modernizing bankruptcy laws in the world of digital assets? Share your insights below! 💬 https://lnkd.in/g9Q25jQF

Acknowledgment to Bezalel E Raviv and the rest of the Lionsgate Network team for shedding light on the critical issue of international #financial #fraud. From my professional standpoint, I emphasize the importance of directing attention to the inner workings of these clandestine operations. Despite years of investigating blockchain technology, I've encountered undisclosed information that remains hidden from public view. The predominant challenge lies in combating a highly organized network of cybercriminals, while being constrained to addressing individual cases due to the incessant influx of new #fraudulent #activities. In the broader context, substantial amounts of funds amassed through illicit means are funneled through larger private wallets, evading detection by both funds recovery firms and #law #enforcement agencies. This trend is poised to persist and escalate unless law enforcement's #cryptocurrency #security divisions are bolstered with increased staffing, enhanced cryptocurrency education, and up-to-date knowledge of evolving fraud tactics. #FraudAwareness #Cryptocurrency #Blockchain #Forensics #Analysis

Can memorizing words be illegal? 🤔 US Senator Cynthia Lummis doesn't think so! 👀 💪 "Arguments against self-custody software threaten the fundamental property rights that are core to being an American," she asserts. 🗣️ She vows to fight for the people's rights to hold their keys and run nodes. 👉 This underscores the ongoing debates within federal regulatory circles on the optimal approach to integrating crypto into the US financial system without stifling innovation or infringing individual freedoms. https://bit.ly/4a73V54 #CLC #insights #News #custody #Regulatory #Finance