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Research from Chainalysis reveals that money laundering using cryptocurrencies reached at least $82bn in 2025, a sharp increase from $10bn in 2020. The study highlights the rapid growth of Chinese-language money-laundering networks, which processed $40m worth of crypto daily, and cited the identification of nearly 1,800 active wallets involved in processing $16.1bn. Chainalysis pointed out that these networks have developed "a complex and resilient ecosystem" that adapts to enforcement actions, making it challenging to disrupt their activities.

 

Reuters

The Federal Reserve's Open Market Committee has voted 10-2 to keep the benchmark federal-funds rate steady in a range between 3.5% and 3.75%, ending a run of three consecutive quarter-point reductions.“Available indicators suggest that economic activity has been expanding at a solid pace. Job gains have remained low, and the unemployment rate has shown some signs of stabilization. Inflation remains somewhat elevated,” the Fed said in a post-meeting statement that offered little to suggest what its next move will be. “In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks,” it added. Futures markets are pricing in at most two rate reductions in 2026, during which Chair Jerome Powell will step down, and none in 2027. Predictions markets are pointing to BlackRock bond chief Rick Rieder as the likely candidate to succeed Powell.

 

CNBC

NPR

Reuters

Wall Street Journal

Frank Bisignano is beginning his first tax filing season as the inaugural chief executive of the IRS, stepping into a newly created role designed to stabilize an agency that has been rocked by rapid leadership turnover and deep disruption. The IRS cycled through seven leaders in 2025, lost roughly a quarter of its workforce, and is now expected to administer complex new tax changes while Congress weighs further budget cuts. With more than 140m returns expected during the 10‑week season, Bisignano’s immediate priority is keeping filings and refunds flowing smoothly - particularly for lower-income taxpayers who rely heavily on refunds boosted by credits. He is running the IRS part time while also serving as commissioner of the Social Security Administration, and argues that better technology and tighter operations can offset staff losses.

 

New York Times

The Trump administration has announced a major restructuring of the Federal Aviation Administration (FAA), establishing a new safety oversight office to streamline functions across five units in response to increasing safety concerns. The announcement comes ahead of a critical National Transportation Safety Board hearing about an incident involving an Army helicopter and a passenger jet that led to 67 fatalities. The FAA said it aims to enhance its hiring and training processes while creating a safety management system to better address potential hazards in air travel.

 

New York Times

Reuters

French lawmakers have approved legislation banning access to social media for children under 15 and prohibiting mobile phone use on high school premises. Backed by President Emmanuel Macron’s government and fast-tracked through parliament, the bill was introduced by MP Laure Miller following concerns over the psychological impact of platforms such as TikTok on minors. After legal concerns from France’s top administrative court about compatibility with EU law and fundamental freedoms, the bill was softened and rewritten. The adopted version does not directly impose obligations on platforms but states that access to social networks is prohibited for under-15s, with the government indicating platforms will need to implement age-verification measures. The legislation also includes provisions to protect minors from excessive commercial pressure and harmful content, and could extend to certain social features of messaging apps and popular video games. The government intends for the social media ban to apply to new registrations from September 2026, with full age verification of users required by January 1 2027, allowing the measures to take effect at the start of the next school year.

 

Le Monde

The Securities and Exchange Commission (SEC) has approved a $362.1m budget for the Public Company Accounting Oversight Board, reducing its funding by 9.4%. The plan, supported by three GOP commissioners, also halves the pay for the board's five members and decreases its workforce and enforcement capabilities. Board officials previously argued that the budget cuts would hinder their ability to effectively oversee audits.

 

Bloomberg Tax

Ford’s decision to widen its relationship with Chinese battery maker CATL to produce energy storage batteries has precipitated scrutiny by members of Congress. In a ‍letter to Ford CEO Jim Farley, Representative John Moolenaar said Ford's ​plan raises concerns. "Ford’s revised ‌business plan raises important questions about whether the original licensing terms have been updated, expanded, or otherwise altered to ⁠accommodate the company’s ​new focus on ​energy storage systems and data center markets," Moolenaar ‍wrote, asking ⁠Ford to answer a series of questions about the ⁠arrangement with CATL.

 

Yahoo Finance

Financial Times

The U.S. government plans to invest $1.6bn to receive a 10% stake in USA Rare Earth, a publicly traded Oklahoma-based miner that controls significant U.S. deposits of heavy rare earths.

 

Financial Times

Mercedes-Benz CEO Ola Kaellenius has told German news site The Pioneer that he turned down an offer tabled by U.S. Secretary of Commerce Howard Lutnick early last year to move the German carmaker's headquarters to the United States. Kaellenius said that, while the automaker was global and would invest in the U.S., it could not be "uprooted."

 

Reuters

Kirkland & Ellis has quit as legal counsel to telecoms group Optimum Communications, formerly known as Altice USA, after pressure from top U.S. private capital firms. The Chicago-headquartered law firm withdrew as counsel after the telecom company filed an antitrust lawsuit against lenders, including Apollo Global Management, Ares Management and BlackRock, who are also among the firm’s clientele in the asset management industry. The lawsuit from Optimum Communications was filed by Washington DC boutique law firm Kellogg Hansen.

 

Crain's Chicago Business

Financial Times

Wall Street Journal

Law.com

Federal legislation introduced by Rep. Ben Cline (R-Va.) which aims to prohibit sovereign wealth funds from financing U.S. lawsuits is causing concern among international investors. The bill mandates that foreign investors disclose their involvement in U.S. litigation, which could lead to delays in court proceedings as defendants pursue information during discovery. The bill could potentially disrupt the operations of funders such as Fortress Investment Group, Burford Capital, and BlackRock.

 

Bloomberg Law

The Venezuelan parliament has approved a proposal to loosen the state’s control over its oil industry and boost the private sector’s role in the first major reform of the country's Hydrocarbons Law in years. The overhaul breaks with several Chavez-era principles of oil nationalisation, which reserved exclusive crude marketing rights for state-owned oil company PDVSA. The new text of the bill allows direct commercialisation by private companies, among other measures.

 

AlJazeera

A series of cyberattacks has impacted Bumble, Panera Bread, Match Group, and CrunchBase, highlighting vulnerabilities at U.S. companies. Bumble confirmed that an account belonging to one of its contractors was compromised through phishing, prompting the company to involve law enforcement.

 

Bloomberg

Despite bold claims from executives about artificial intelligence's productivity gains, a new survey reveals a stark disconnect with employees, most of whom report little to no time saved using the technology. While over 40% of executives say AI saves them more than eight hours per week, two-thirds of non-management staff say they save less than two hours or none at all, according to a Section survey of 5,000 white-collar workers. Many workers said they feel overwhelmed or anxious about AI integration, using it mainly for basic tasks including draft writing or search, and often spending time correcting AI errors. CEOs acknowledge limited bottom-line impact so far, with just 12% reporting both cost and revenue benefits from AI, according to PwC. The findings suggest a growing credibility gap between C-suite optimism and employee experience.

 

Wall Street Journal

Researchers say they have found a new way to filter and destroy PFAS chemicals at 100 times the rate of current systems. A new peer-reviewed paper details a layered double hydroxide (LDH) material made from copper and aluminum that absorbs long-chain PFAS up to 100 times faster than commonly used filtration systems. “This material is going to be important for the direction of research on PFAS destruction in general,” said Michael Wong, director of Rice’s Water Institute, a PFAS research center.

 

The Guardian