Yahoo Finance

U.S. and European authorities shut down Garantex, a Russian cryptocurrency exchange that they said had processed almost $100 billion in transactions, a significant portion of which was for criminal and terrorist groups. Garantex had become a vital conduit for Russians to move money into and out of the country, despite Western efforts to cut off Russia’s financial system. The U.S. Treasury Department sanctioned Garantex in 2022, but its business continued to thrive, The Wall Street Journal previously reported.