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The US Treasury Department sanctioned eight cryptocurrency wallet addresses linked to Russian crypto exchange Garantex and the Houthis.

The United States Office of Foreign Assets Control (OFAC) sanctioned eight crypto addresses that data from blockchain forensic firms Chainalysis and TRM Labs had linked to the organizations. Two are deposit addresses at major crypto platforms, while the other six are privately controlled.

The addresses in question reportedly moved nearly $1 billion worth of funds linked to sanctioned entities. Most of the transactions funded Houthi operations in Yemen and the Red Sea region.

Slava Demchuk, a crypto-focused money laundering specialist and United Nations Office on Drugs and Crime consultant told Cointelegraph that “the inclusion of Houthi-linked wallets reflects a broader recognition of crypto’s role in geopolitical conflicts and terrorism financing.” He added:

“The implications are far-reaching — compliance frameworks must adapt swiftly, attribution efforts will intensify, and decentralized platforms may face increased scrutiny.“

Demchuk highlighted that the situation reshapes the regulatory landscape. According to him, crypto “is now firmly within the scope of international security.

Who are the Houthis?

The Houthis, also known as Ansar Allah, are a Yemeni political and armed movement that emerged from the Zaidi Shia community. Originating as a revivalist and reformist group, they later became a major force in Yemen’s ongoing conflict.

Related: US DOJ says it seized Hamas crypto meant to finance terrorism

In recent years, the Houthis have engaged in attacks against both military and civilian vessels in the Red Sea with missiles and drones. In January, US President Donald Trump designated the group as a foreign terrorist organization.

The announcement noted that “the Houthis’ activities threaten the security of American civilians and personnel in the Middle East, the safety of our closest regional partners, and the stability of global maritime trade.” The group was recently struck by a US bombing campaign.

Related: Binance claims’ no special relationship’ with Hamas, argues to dismiss lawsuit

Garantex: Russia’s crypto laundromat

Garantex is a Russian crypto exchange that was sanctioned and shut down in early March after purportedly helping money-laundering efforts. At the time, Tether — the leading stablecoin operator and issuer of USDt — froze $27 million in USDt on the platform, forcing it to halt operations.

The platform has reportedly shifted millions of dollars as it sought to reboot under its new brand, “Grinex.”

In mid-March, officials with India’s Central Bureau of Investigation announced the arrest of Lithuanian national Aleksej Bešciokov, who was alleged to have operated the cryptocurrency exchange Garantex.

The arrest of the alleged Garantex founder was based on US charges of conspiracy to commit money laundering, conspiracy to operate an unlicensed money-transmitting business and conspiracy to violate the International Emergency Economic Powers Act.

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Your day-ahead look for April 3, 2025

Binance co-founder Changpeng “CZ” Zhao donated over half a million dollars worth of crypto to the earthquake disaster relief effort in Thailand and Myanmar, in another testament to the growing utility of blockchain-based emergency charity efforts.

Zhao donated 1,000 BNB (BNB) tokens worth almost $600,000 to the disaster relief funds for the region on March 3, blockchain data shows.

“Sent 1000 BNB for the donation for Myanmar and Thailand,” wrote Zhao in an April 3 X post.

The crypto donation comes after Thailand and Myanmar were hit by a 7.7 magnitude earthquake on March 28, causing severe damage to buildings and widespread flooding.

Related: 70% chance of crypto bottoming before June amid trade fears: Nansen

At least 2,719 people have been confirmed dead in Myanmar and 18 in Thailand, with 76 people still unaccounted for, according to the latest figures shared by Reuters.

The $600,000 donation comes nearly a week after Zhao pledged to donate 500 BNB for the relief efforts, an initial commitment that he doubled. Cryptocurrency-based donations have emerged as a significant lifeline for the region, due to banking restrictions caused by damaged infrastructure.

Crypto donations exceeded $1 billion in 2024, spurred by increasing digital asset valuations and growing crypto regulatory clarity. About 16% of the donations went toward education, while 14% went toward medicine and health-related efforts.

The Giving Block has launched a crypto-based emergency relief effort for Myanmar and Thailand to raise $500,000 for the devastated region.

The organization expects crypto donations to reach $2.5 billion in 2025 on growing crypto wealth generation and increasing adoption due to a more favorable political landscape.

Related: Trump-linked crypto ventures may complicate US stablecoin policy

Crypto donations gain traction for emergency relief efforts

Zhao’s donation is a testament to the growing role of cryptocurrency in humanitarian aid, according to Anndy Lian, author and intergovernmental blockchain expert.

“Crypto donations, compared to traditional fiat contributions, offer unique advantages, especially in emergencies,” Lian told Cointelegraph, adding:

“Speed is a key factor—transactions on blockchain networks can settle in minutes, bypassing the delays of banks or intermediaries, which is critical when time saves lives.”

“In disaster-stricken areas like Myanmar or Thailand, where infrastructure might be compromised, crypto can reach recipients directly via digital wallets, no SWIFT codes or wire transfers required,” Lian explained.

Lian also donated 44 BNB tokens to the relief efforts in Myanmar and Thailand, a move that was publicly praised by Zhao.

Ethereum co-founder Vitalik Buterin has been known for his crypto donations. In October, Buterin donated over $180,000 in Ether (ETH) to the biotech charity Kanro.

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The mailing list was unavailable for a short period on Wednesday and was placed in a “banned content warning” cohort on Google.

The mailing list was unavailable for a short period on Wednesday and was placed in a “banned content warning” cohort on Google.

Despite a record-breaking hash rate, low transaction fees and empty blocks raise concerns about bitcoin’s long-term sustainability.

Bitcoin (BTC) faces “very high risk” conditions from US trade tariffs, which could spark a slump to $71,000.

In his latest analysis, Charles Edwards, the founder of quantitative Bitcoin and digital asset fund Capriole Investments, warned about the impact of “higher than expected” US trade tariffs.

”Higher than expected” US tariffs pressure Bitcoin

Bitcoin reacted noticeably worse than US stocks after President Donald Trump announced worldwide reciprocal trade tariffs on April 2.

BTC/USD fell up to 8.5% on the day, while the S&P 500 managed to end the Wall Street trading session 0.7% higher.

Edwards said that US business expectations are reflecting the type of uncertainty seen only three times since the turn of the millennium.

“Consider this as tariffs come in higher than expected. The Philly Fed Business Outlook survey is showing expectations today comparable to 2000, 2008 and 2022,” he told X followers.

An accompanying chart showed the Philadelphia Fed’s Business Outlook Survey (BOS) back under 15 for the first time since the start of 2024. Late 2022 was the pit of the most recent crypto bear market when BTC/USD reversed at $15,600.

In Capriole’s latest market update on March 31, Edwards acknowledged that BOS data can produce unreliable signals regarding market sentiment but argued that it should not be ignored.

“While no guarantee of the future outlook (this metric does have false signals) this is a data reading we have had before at very high risk zones (year 2000, 2008 and 2022), telling us to keep a very open mind,” he wrote, adding: 

“Especially if the tariff war escalates significantly beyond current expectations or corporate margins start to fall.”

For Bitcoin, a key level to watch in the tariff aftermath is $91,000, with Capriole suggesting that US macroeconomic moves would “decide the ultimate technical trend from here.”

“All else equal, a daily close above $91K would be a strong bullish reclaim signal,” the update explained alongside the weekly BTC/USD chart. 

“Failing that, a dip into the $71K zone would likely see a sizable bounce.”

BTC price focus on US liquidity trend

As Cointelegraph reported, a silver lining for crypto and risk assets could come in the form of increasing global liquidity.

Related: Bitcoin sales at $109K all-time high ‘significantly below’ cycle tops — Glassnode

In the US, the Fed has already begun to loosen tight financial policy, with bets on a return to so-called quantitative easing (QE) varying.

“How long until the Powell printer starts humming?” Edwards queried.

M2 money supply, meanwhile, is due for an “influx,” something which has historically spawned major BTC price upside.

“The BIG takeaway (the most important observation) is that a big M2 influx is coming. The exact date is less important,” analyst Colin Talks Crypto predicted in an X thread this week.

A comparative chart hinted at a potential BTC price rebound by the start of May.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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