The Central Bank (CBI) of Iran bought $507 million of Tether's USDT stablecoin with the primary purpose of manipulating foreign exchange markets and bolstering the value of the rial, which recently traded at 1.4 million for one U.S. dollar, according to blockchain analytics firm Elliptic. Elliptic said it uncovered the purchases through two leaked documents that allowed researchers to map out the central bank’s wallet infrastructure, "revealing a systematic accumulation of USDT totaling at least half a bi ...

Core Viewpoint - SLB's acquisition of ChampionX Corp. for $7.8 billion aims to enhance its portfolio amid aging shale fields, while the company faces scrutiny for its continued operations in Russia despite sanctions [2][5][6] Group 1: Acquisition and Market Position - SLB agreed to acquire ChampionX Corp. for $7.8 billion in an all-stock deal, which will strengthen its position in the oilfield services market [2] - The acquisition is seen as a strategic move to provide better technology to U.S. drillers as they seek to maintain oil and gas production from aging shale fields [2] Group 2: Continued Operations in Russia - Despite U.S. sanctions imposed in January 2025, SLB has been reported to continue transferring proprietary drilling technology to Russian manufacturers as late as February 2025 [3][4] - SLB generated $1.4 billion in revenue from Russia in 2024, accounting for approximately 4% of the company's global total, indicating a significant ongoing presence in the Russian market [6] - The company has been criticized for its role in the Russian oil-service market, occupying 8% and contributing over $4.5 billion in taxes to the Russian economy [5][6] Group 3: Regulatory and Enforcement Challenges - SLB operates through a complex corporate structure that complicates U.S. enforcement of sanctions, allowing it to navigate regulatory gray areas [12][15] - The enforcement of sanctions has reportedly loosened under the current political climate, providing SLB with more flexibility in its operations [13][14] - The company has been actively recruiting young Russian engineers, suggesting a long-term commitment to its operations in Russia [9]

Core Viewpoint - A Russian policymaker is advocating for the regulation of cryptocurrencies due to significant traffic from Russia to international crypto exchanges, highlighting the need for state oversight of digital assets [1][2]. Regulation and Legislation - Yevgeny Masharov emphasizes the urgency of launching legislation to regulate cryptocurrency circulation, proposing that all transactions outside licensed platforms should be illegal and suggesting criminal liability for illegal transactions [2]. - Current crypto trading in Russia is unregulated, with the Central Bank previously advocating for a complete ban, while the Ministry of Finance prefers regulation and taxation of profits [4]. Factors Driving Adoption - The weakening ruble, capital controls, and international sanctions have accelerated the adoption of cryptocurrencies in Russia, serving both legitimate financial needs and, in some cases, sanctions evasion [3]. - Data from TRM Labs indicates that most Russian crypto activity remains lawful, reflecting a global trend of increased digital asset adoption due to necessity and financial pressure [3]. Concerns Over Unregulated Platforms - There are concerns regarding the Telegram app, which allows users to access crypto wallet services, enabling transactions outside regulatory scrutiny and anti-money laundering measures [5]. - Masharov insists that crypto trading should be restricted to regulated financial institutions, such as the Moscow Exchange and major banks [5]. Traffic Data Insights - Russian IP addresses accounted for up to 28% of traffic to the crypto exchange Bybit in October, with 4.9 million visits from Russia out of a total of 17.5 million [6].