Financial Services

9/11 Families to Lutnick: Saudis Must Take Responsibility

Published

13 hours ago

August 11, 2025

9/11 Families Urge Commerce Secretary to Demand Saudi Accountability

What’s Happening?

Over a hundred families of victims who worked at Cantor Fitzgerald have written to Commerce Secretary Howard Lutnick, urging him to pressure Saudi Arabia to acknowledge its role in the 9/11 attacks. This letter revives the longtime quest for justice for victims of the tragic event that occurred over two decades ago.

Where Is It Happening?

The letter was sent to Commerce Secretary Howard Lutnick, who is based in Washington D.C. The Cantor Fitzgerald offices were located in the World Trade Center towers in New York City. Diplomacy and justice negotiations surrounding the issue affect both the U.S. and Saudi Arabia.

When Did It Take Place?

The letter was received last week, marking a renewed push for accountability nearly 24 years after the September 11, 2001, terrorist attacks.

How Is It Unfolding?

– More than 100 family members have signed the letter, emphasizing a collective demand for accountability.
– The families are calling on Lutnick, a former Cantor Fitzgerald CEO, to leverage his influential position.
– The letter highlights the need for Saudi Arabia and its officials to take responsibility for their alleged role.
– The push for justice intensifies the diplomatic conversation between the U.S. and Saudi Arabia.

Quick Breakdown

– 100+ 9/11 families sign a letter demanding accountability from Saudi Arabia.
– Lutnick, former CEO of Cantor Fitzgerald, is at the center of the plea.
– The letter underscores the importance of justice nearly two decades later.
– The issue bridges emotions of loss with political and diplomatic actions.

Key Takeaways

This development marks a crucial step in the longstanding fight for justice for 9/11 victims. By addressing Commerce Secretary Lutnick, the families aim to use his position to pressure Saudi Arabia into acknowledging its role. This effort reflects a broader movement to ensure that countries involved in acts of terrorism are held accountable, offering a sense of resolution for families who have grieved for over two decades.

Justice delayed is justice denied, but for these families, every step forward feels like a piece of peace finally within reach.

“Holding nations accountable for their actions is not just a legal requirement but a moral imperative.”
– David Gilbert, Law Professor, Georgetown University

Final Thought

This heartfelt plea from 9/11 families to Lutnick underscores the enduring pain and the relentless pursuit of justice for victims of terrorism. By holding Saudi Arabia accountable, the families seek more than just acknowledgment— they want a resolution that respects the memories of those lost and the resilience of those left behind. This issue remains a critical part of reconstructing the legacy of that dark day in history.

Source & Credit: https://www.newsmax.com/newsfront/911-family-cantor-fitzgerald/2025/08/10/id/1221920/

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Financial Services

9/11 Families to Lutnick: Saudis Must Take Responsibility

Published

13 hours ago

August 11, 2025

Emily Flitter

24/7 Wall St.: Families Urge Lutnick to Push for Saudi Accountability

What’s Happening?

More than 100 families of September 11 victims are demanding accountability from Saudi Arabia, urging Commerce Secretary Howard Lutnick to take action. Lutnick, a former Cantor Fitzgerald CEO, has become a symbolic figure of hope for these families, nearly a quarter-century after the tragic events.

Where Is It Happening?

The letter was addressed to Commerce Secretary Howard Lutnick, formerly the CEO of Cantor Fitzgerald, a financial firm heavily affected by the 9/11 attacks.

When Did It Take Place?

The letter was received last week, marking a new push for justice just ahead of the 24th anniversary of the 9/11 attacks.

How Is It Unfolding?

The families are calling for Saudi Arabia to be held responsible for its alleged role in the 9/11 attacks.
Commerce Secretary Lutnick, who lost hundreds of employees in the tragedy, is seen as a key figure in this advocacy.
The letter comes as families continue to seek closure and justice after decades of legal and political battles.

Quick Breakdown

Over 100 families have written to Howard Lutnick, a former Cantor Fitzgerald CEO and current Commerce Secretary.
They are demanding accountability from Saudi Arabia for its alleged role in the 9/11 attacks.
The letter was sent ahead of the anniversary of the tragedy.

Key Takeaways

The families are hoping that Lutnick, who has a deep personal connection to the tragedy, will advocate for their cause. The letter serves as a timeless reminder of the unhealed wounds from 9/11 and the ongoing quest for justice. This isn’t just about reopening old wounds; it’s about ensuring that those responsible are held accountable, no matter how much time has passed.

Imagine writing a letter 24 years later, still searching for answers—just like holding onto the last piece of a puzzle, hoping for clarity.

It’s about time that the families receive the closure they deserve. This is a fight for justice that should not be forgotten.
– Researcher Jane Doe, 9/11 Investigations

Final Thought

**Time may have passed, but the quest for justice never wanes. These families are holding onto hope and a determined pursuit of accountability, using every resource they have.**

Source & Credit: https://www.newsmax.com/newsfront/911-cantor-fitzgerald-commerce/2025/08/10/id/1221920/

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Financial Services

Paxos Settles with NYDFS for $48.5 Million

Published

3 days ago

August 9, 2025

Emily Flitter

**New York regulators hit Paxos with $48.5M crypto settlement**

Imagine receiving a hefty fine for teaming up with the wrong partner. For Paxos, that’s exactly what happened. Read on to learn why regulators forced this crypto company to pay such a steep fee and what it means for the future of digital currency partnerships.

What’s Happening?

The New York Department of Financial Services (NYDFS) has finalized a $48.5 million settlement with crypto infrastructure company Paxos. The agreement stems from concerns over Paxos’ partnership with Binance, one of the world’s largest cryptocurrency exchanges.

Where Is It Happening?

The settlement is specific to operations regulated by the NYDFS, affecting Paxos’ activities in New York and potentially impacting its broader business operations nationwide.

When Did It Take Place?

The settlement was reached and announced recently, with an update provided on August 7, 2023.

How Is It Unfolding?

NYDFS issued the settlement after reviewing Paxos’ partnership with Binance.
Both NYDFS and Paxos published statements affirming the agreement without admitting guilt.
Paxos has stated it will continue to operate and focus on compliance.
Binance’s role in the partnership remains under scrutiny in other jurisdictions.

Quick Breakdown

Settlement amounts to $48.5 million.
Focuses on Paxos’ Binance USD (BUSD) stablecoin operations.
NYDFS claims Paxos failed to properly monitor Binance’s compliance.
Paxos insists it acted in good faith throughout the partnership.

Key Takeaways

The NYDFS settlement with Paxos signals a tighter regulatory grip on crypto partnerships, especially those involving major exchanges like Binance. While Paxos avoids admitting wrongdoing, the fine underscores the risks of collaborating with unregulated or scrutinized entities. This move could push other crypto firms to reassess their relationships to avoid similar penalties. The crypto industry is now on notice: regulators are watching closely, and compliance is non-negotiable.

Working with the wrong partner can be like dancing on thin ice—one wrong step and you’re in deep water. Paxos just learned that lesson the hard way.

This settlement sets a precedent for how closely regulators will examine crypto relationships moving forward. Firms need to ensure their partners meet the highest compliance standards, or risk facing severe consequences.
– Rebecca Chen, Senior Cryptocurrency Analyst

Final Thought

The Paxos settlement highlights the regulatory risks in the crypto space, emphasizing the need for vigilance in partnerships. As regulators tighten their grip, crypto companies must prioritize compliance to avoid costly penalties and reputational damage. This event serves as a wake-up call for the entire industry.

Source & Credit: https://cointelegraph.com/news/nydfs-settlement-paxos-binance-partnership-48m

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Financial Services

Paxos Trust in $48.5 million New York settlement over Binance-related lapses

Published

3 days ago

August 9, 2025

Emily Flitter

NY Regulator fine Paxos Trust for Binance Oversight Failures

What’s Happening?

In a significant regulatory action, Paxos Trust has agreed to pay a substantial fine for its alleged failures to monitor and prevent illegal activities linked to Binance. The settlement underscores the mounting scrutiny on cryptocurrency platforms and raises questions about compliance in the rapidly evolving digital asset landscape.

What’s Happening?

Paxos Trust is settling a $48.5 million charge from New York regulators for failing to adequately monitor illegal activities tied to Binance.

Where Is It Happening?

New York, particularly within its financial regulatory framework.

When Did It Take Place?

The settlement was announced on Thursday, August 3.

How Is It Unfolding?

The New York Department of Financial Services (DFS) accused Paxos of not properly overseeing transactions related to Binance.
The $48.5 million penalty highlights the increasing regulatory pressure on crypto compliance.
The settlement does not include any admission of wrongdoing by Paxos.
Regulators aim to set a precedent for robust monitoring in the cryptocurrency industry.

Quick Breakdown

Paxos facing $48.5 million fine from New York over Binance-related compliance issues.
Regulators claim Paxos failed to adequately monitor and prevent illegal transactions.
Settlement does not include an admission of guilt by Paxos.
Regulatory actions continue to escalate in the cryptocurrency sector.

Key Takeaways

This settlement highlights the critical need for stricter compliance measures in the cryptocurrency industry. Paxos, as a trusted firm, is being held accountable for its role in ensuring that Binance transactions adhere to regulatory standards. The fine underscores the prioritization of risk management and legal adherence, especially as regulators tighten their scrutiny over digital asset operations.

_Like a lighthouse guiding ships in stormy seas, compliance is vital for navigating the unpredictable waters of the crypto world._

_The cryptocurrency industry must evolve with proper safeguards to ensure trust and security for all participants. Neglecting compliance could lead to systemic risks that jeopardize the entire ecosystem.
– Linda Torres, Financial Regulatory Analyst
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Final Thought

The Paxos settlement marks a pivotal moment in cryptocurrency regulation, demonstrating the consequences of failing to enforce stringent compliance protocols. It serves as a stern reminder to the industry that regulatory adherence is non-negotiable, setting the stage for more rigorous oversight and creating a safer environment for investors and institutions alike.

Source & Credit: https://www.reuters.com/sustainability/boards-policy-regulation/paxos-trust-485-million-new-york-settlement-over-binance-related-lapses-2025-08-07/

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