White Supremacists Lean On Crypto, Says Anti-Defamation League Report on Extremists
Summary
White supremacist groups in the U.S. have been funded by crypto, with about $140,000 in transactions linked to 15 extremist groups or individuals last year. The ADL found that extremists used cryptocurrency platforms to move money, with half of the transactions going through U.S. exchange Kraken. The ADL recommends crypto companies update their policies to prohibit funding hate and extremism-related activities. Crypto exchanges argue they combat illegality and follow anti-money laundering rules. Extremist groups also use the traditional financial system, but transparency is not publicly available. The report raises questions about the relationship between financial innovations and extremism.
