Some top California Democrats join Governor Gavin Newsom in opposing a ballot initiative led by a healthcare union seeking a one-time 5% tax on $1B+ in assets
A proposed tax on California's wealthiest residents is drawing opposition from a growing group of top state Democrats …
Investigation: Iran's Islamic Revolutionary Guard Corps used two UK-registered companies to move ~$1B in stablecoins since 2023, evading international sanctions
This blog features a case study from TRM's upcoming 2026 Crypto Crime Report. Be sure to check back in the coming weeks to get your complete copy.
Sources: Peter Thiel and Larry Page may leave CA over a proposed ballot measure, opposed by Newsom, that levies a one-time 5% tax on those with $1B+ in assets
It's uncertain whether the proposal will reach the statewide ballot in November, but some billionaires like Peter Thiel and Larry Page may be unwilling to take the risk.
Sources: Peter Thiel and Larry Page may leave CA over a proposed ballot measure, opposed by Newsom, that levies a one-time 5% tax on those with $1B+ in assets
It's uncertain whether the proposal will reach the statewide ballot in November, but some billionaires like Peter Thiel and Larry Page may be unwilling to take the risk.
US DHS: Chinese criminals made $1B+ in the past three years via scam texts; Proofpoint: Americans reported a record 330K toll-scam texts in one day in September
Messages seeking payment for unpaid tolls or postage fees prompt victims to hand over credit-card information, which gangs use to buy gift cards and luxury goods
Critics say the Philippine government is prioritizing collecting online casino license fees, projected at ~$1B in 2025, over tackling online gambling addiction
an exponential rise from less than half a million in 2018.” … Anne Riley Moffat : Anyone in the Philippines 21 or older can fill their digital wallets and place wagers over an internet connection. …
A six-year US effort to counter Chinese telecom tech dominance took a hit when the One Big Beautiful Bill cut nearly $1B from a program to develop Open RAN tech
nearly $1 billion — for the Wireless Innovation Fund [for ORAN stuff], which was supposed to create a new, American-dominated type of 5G network [around the world]. …
How Jensen Huang successfully lobbied Trump to resume Nvidia's H20 sales to China; US officials hadn't vetted the 20% pay-to-play proposal when Trump offered it
Amrith Ramkumar and Robbie Whelan, reporting for The Wall Street Journal (gift link): Emma Roth / The Verge : US demands cut of Nvidia sales in order to ship AI chips to China Arjun Kharpal / CNBC : T...
Analysis and sources: $1B+ of Nvidia's AI chips were shipped to China in the three months after President Trump tightened chip export controls in May
Roaring black market for US semiconductors operates despite efforts to curb Beijing's high-tech ambitions
Sources: chip industry executives told US officials and lawmakers that Trump's new tariffs could cost US semiconductor equipment makers more than $1B per year
Max A. Cherney / Reuters :