ep 10 The Dual Faces of Digital Currency: From Santa Monica Man's Laundering Scandal to the Rise of Crypto Millionaires

A new report by Henley & Partners reveals that there are now 88,200 millionaires in the world who have earned their fortunes through cryptocurrency. This represents a significant increase from the 48,000 crypto millionaires in 2021.

The report, which was conducted in partnership with the Crypto Valley Association, found that the majority of these crypto millionaires (40,500) owe their wealth to bitcoin. Ethereum is the second most popular cryptocurrency among crypto millionaires, with 19,500 millionaires holding ETH.

Meanwhile,

A Santa Monica man has agreed to plead guilty to using his cryptocurrency cash exchange business to launder millions of dollars in criminal proceeds, federal prosecutors announced Tuesday.

Charles Randol, 33, will plead guilty to failure to maintain an effective anti-money laundering program, a crime that carries a sentence of up to five years in federal prison.