An initiative that brought together four crypto industry companies to fight financial crime was quietly dissolved in August, Bloomberg reported Wednesday (Nov. 4), citing unnamed sources.
The T3 Financial Crime Unit (T3 FCU) was set up by Tron, Tether and TRM Labs in September 2024 and added Binance a year later, according to the report.
The initiative was dedicated to creating a “safer and more secure” crypto industry and reported in 2025 that it had worked with law enforcement agencies and frozen $250 million in illicit assets, per the report.
Over the past year, the initiative broke down and suffered slow response times and a lack of coordination among its members, the report said, citing the unnamed sources.
Without…
