Australian rap artist Heather Morgan, also known as Razzlekhan, was reportedly involved in a new scandal associated with the release of an obscene video a few days before she started serving her sentence. Morgan, who was convicted for her role in processing Bitcoins from the Bitfinex hack, used the video to comment on the financial system and to appeal directly to Elon Musk. Supplied with hundreds of thousands of unknowns, curiosity and controversy, the video, filled with bizarre images and statements, can be viewed as the last passionate step before her eighteen-month imprisonment.
In Razzlekhan spits bars before going to prison
It was quite unexpected, yet convicted money launderer Heather Morgan, the artist formerly known as “Razzlekhan,” has released a music video just days before her imprisonment. The full video, which is called Razzlekhan vs. The United States, focuses on the financial system, but also covers the letter to Elon Musk for assistance.
Morgan, who is to spend 18 months in prison for her role in laundering close to 120,000 BTC stolen from the Bitfinex hack, wore fishnet stockings and leather restraints in the clip. “Weird enough to catch a case they think I’m from another place,” she raps while she is clearly seen wearing an ankle monitor.
FDIC’s Hill Criticizes ‘Choke Point-like Tactics
An FDIC VP, Travis Hill, has warned that some banks are employing what he terms as ‘Choke Point-like tactics to target crypto firms’. During a speech on January 10, Hill spoke about the “debunking” of digital asset businesses and declared the change in direction for the agency.
“Attempting to removeMariaCasualties law-abiding consumers is impermissible,” Hill said, urging that regulators must consider halting them. He was able to mention the infamous Operation Choke Point initiated in 2013, the approach which aimed at certain high-risk businesses on a pretext of denying them with banking services. Hill said the same thing cannot be done to the crypto industry and encouraged people to participate in the right way.
Hill’s comments come as financial regulators, the FDIC in particular, are accused of mistreating crypto-related businesses, with many firms claiming that their accounts have been arbitrarily terminated. “Its clear that there is no place at the FDIC for anyone who has advocated—overtly or implicitly—banks to stop providing services to law-abiding customers,” he said in advancing his workable guiding principles for a practical somber regulatory reform.
CFTC’s Enforcement Director Resigns
In early January, the Commodity Futures Trading Commission (CFTC) reported that its Enforcement Director, Ian McGinley, resigned on January 17. McGinley, who joined CFTC earlier this year, was directly involved in the most high-profile enforcement actions, such as cases against Binance and FTX.
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During McGinley’s tenure, the CFTC achieved a landmark $12.7 bn fine of FTX and Alameda research. “This is a major achievement for Ian as he has developed and positioned the CFTC as a leading law enforcement agency for digital assets,” the CFTC said. His resignation occurred only days before Donald Trump’s inauguration, with the expectation that the new administration could reduce the regulations on the crypto business.
Conclusion on Razzlekhan viral video
After receiving a last public message from Heather Morgan as she awaits sentencing in federal prison, the issue remains hot. Her recent daring condemnation of the financial world, the dare to ask for freedom from Elon Musk has put a spin to a tale already loaded with scandal. However, latest actions or statements made by the FDIC and the CFTC suggest that much bigger shifts are on the horizon for the industry. Again, as the regulations continue to tighten, the future of digital assets remains blurry; this puts many in the industry on the edge. Keep following The Bit Journal and keep an eye on Razzlekhan’s next steps in the crypto world.
FAQs
- Who is Heather Morgan Razzlekhan?
Heather Morgan, aka Razzlekhan, is a convicted Money launderer and part of the Bitfinex hack. Before she was sent to prison, she recently posted an abusive rap video on the internet.
- What are Choke Point-like tactics?
It is a term that means the process of denying some industries access to banking services, like in Operation Choke Point, 2013. Travis Hill of FDIC has himself taken jibes at similar strategies evidently concerning crypto firms.
- What did Ian McGinley do for the CFTC?
Ian McGinley was the Enforcement Director at the Commodity Futures Trading Commission, they deal with big cases such as the $12.7 billion penalty of FTX. He is resigning from the position on 17th of January.
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