“I made it very clear to him that the United States expects, when a ransomware operation is coming from his soil, even though it’s not sponsored by the state, we expect them to act if we give them enough information to act on who that is,” Biden was quoted as saying by the Times.
Subsequent comments from Biden indicate that U.S. officials are weighing direct responses to ransomware attacks beyond what has been done previously, including the partial recovery of BTC paid to ransomware attackers.
When asked about whether there would be "consequences" for such attacks, Biden reportedly said "yes."
The comments come just over a week after the U.S. government began investigating a ransomware attack on an American information technology firm, which subsequently affected a range of businesses worldwide.
U.S. officials have adopted a more serious stance on ransomware attacks amid a series of high-profile ransomware incidents, including one on a U.S.-based pipeline operator. In early June, the Department of Justice said it had recovered much of the funds paid by Colonial Pipeline.
With more than $100 billion in market cap across all chains, it is likely that the DeFi market cap will grow to $200 billion by 2025. However, many users still face various technical barriers when using decentralised platforms to do on-chain farming, staking and trading, while off-chain solutions face liquidity issues, fiat restrictions and the lack of a central multichain to support crypto assets and institutional-grade custodians.
The Federal Reserve dropped a new central bank digital currency white paper on Thursday. While largely avoiding the topic of crypto, it suggests that a US CBDC could compete with "private digital money."
Eric Adams, the mayor of New York City, made good on a previous pledge by receiving via automatic conversion his first paycheck in the form of cryptocurrency. According to a Thursday morning statement from the mayor’s office, Adams’ paycheck was converted into BTC and ETH. “New York is the center of the world, and we […]