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A former senior Drug Enforcement Administration (DEA) agent who once oversaw the agency’s financial operations has been indicted for conspiring to launder millions of dollars in narcotics proceeds for Mexico’s Jalisco New Generation Cartel (CJNG), according to federal prosecutors in Manhattan
Paul Campo, who served the DEA for 25 years and rose to become Deputy Chief of the Office of Financial Operations, is accused of laundering $750,000 in cartel cash by converting it into cryptocurrency and agreeing to launder an additional $12 million. Prosecutors say Campo also facilitated a payment for 220 kilograms of cocaine, valued at roughly $5 million, while boasting of his prior law enforcement expertise.
Campo, alongside co-defendant Robert Sensi, allegedly met with a confidential source posing as a CJNG operative in late 2024. The indictment details how the two men offered to channel cartel money through real estate investments, advised on fentanyl production, and even explored procuring military-grade weapons and drones for the cartel.
As alleged, Paul Campo and Robert Sensi conspired to assist CJNG, one of the most notorious Mexican cartels that is responsible for countless deaths through violence and drug trafficking in the United States and Mexico,” said U.S. Attorney Jay Clayton. “By participating in this scheme, Campo betrayed the mission he was entrusted with pursuing for his 25-year career with the DEA. CJNG is a violent and corrupting criminal enterprise that New Yorkers want broken.”
DEA Administrator Terrance C. Cole emphasized the gravity of the charges: “The indictment of former Special Agent Paul Campo sends a powerful message: those who betray the public trust—past or present—will be held to account to the fullest extent of the law. We will not look the other way simply because someone once wore this badge. There is no tolerance and no excuse for this kind of betrayal.”
Campo’s career included high-profile assignments in New York, Rome, and Milan, as well as leadership roles in DEA’s congressional affairs and financial operations. He represented the agency before Congress, the Treasury, and international organizations such as Interpol and the Financial Action Taskforce (FATF).
Now, prosecutors say, the same expertise he once used to combat money laundering was turned toward aiding one of the world’s most violent cartels. Campo faces charges of narco-terrorism conspiracy, conspiracy to distribute narcotics, conspiracy to provide material support to a terrorist organization, and conspiracy to commit money laundering
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The cryptocurrency market has continued its negative performance this week, with Bitcoin, Ethereum, and XRP extending their losses.
Bitcoin briefly touched the $61,100 level, while Ethereum risks dropping below $1,500 in the near term.
Meanwhile, Ripple’s XRP is trading around $1.11 on Friday, marking its lowest level since February 6 and extending its losing streak to six consecutive sessions.
The decline reflects continued weakness across the broader crypto market amid heightened geopolitical uncertainty and fading investor confidence.
Institutional flows into XRP investment products have flipped positive, with approximately $4 million in inflows recorded on Thursday.
Market participants continue to reduce exposure to risk assets as geopolitical tensions—particularly between the United States and Iran—fuel uncertainty across global markets.
Due to the current macroeconomic conditions, investors are moving their funds away from volatile assets like cryptocurrencies and toward safer instruments such as bonds, gold, and cash equivalents.
CoinMarketCap data reinforces this cautious positioning, with the Crypto Fear & Greed Index sitting at 17 (Extreme Fear), down sharply from 50 in May.
Similar to Bitcoin and Ethereum, the XRP/USD 4-hour chart is as XRP continues to trade below key long-term trend indicators, maintaining a clearly bearish structure.
At press time, XRP is trading at $1.116, below the 50-day, 100-day, and 200-day EMAs. Meanwhile, the SuperTrend resistance sits at $1.34, capping recovery efforts in the near term.
The technical indicators also showcase an oversold condition. The Relative Strength Index of 30 means that XRP has officially entered the oversold territory.
The MACD histogram remains negative, confirming downward momentum.
While oversold conditions may slow the pace of decline, they have not yet triggered a meaningful reversal.
If the market conditions improve, the bulls would encounter the first major resistance at $1.34, which coincides with the Transactional Liquidity (TLQ) level on the 4-hour chart.
A daily candle close above this level could see XRP target the higher resistance levels at $1.36 (50-day EMA), $1.44 (100-day EMA), and $1.64 (200-day EMA).
A sustained recovery above these levels would be required to shift the broader bearish outlook.
However, if the selloff persists, XRP could drop below the $1.0 psychological level.
A decisive break below this level could pave the way for accelerated downside pressure in the near term.
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The New York Knicks, fuelled by a sensational 45 points from Jalen Brunson, rallied again to beat the San Antonio Spurs 94-90 and win their first NBA title in 53 years on Saturday.
The Knicks won the best-of-seven championship series 4-1, denying Victor Wembanyama and his young Spurs teammates on their home floor to lift the trophy for the first time since 1973.
The Knicks, who recovered from 29 points down in game four to produce the biggest comeback in Finals history, erased a double-digit deficit to win for the fourth time in the series.
The Knicks trailed by 16 in the second quarter and were down by 10 early in the fourth, but Brunson wouldn’t let them lose.
“I’ve got no words,” Brunson said after setting a Knicks record for points in a Finals game, surpassing Willis Reed’s 38 in game three of the team’s 1970 triumph over the Los Angeles Lakers.
With their backs against the wall, the Spurs were locked in defensively from the opening tip-off.
Wembanyama set the tone, blocking three shots in the first quarter as the Spurs powered to a 23-13 lead, holding the Knicks to their fewest points in any quarter this postseason.
Wembanyama tied a Finals record with five blocks in the first half and drilled a three-pointer that pushed the Spurs’ lead to 16 early in the second period
But the Knicks were heating up, cutting the deficit to three before Devin Vassell’s fadeaway basket at the buzzer sent the Spurs into the interval with a 42-37 lead
San Antonio quickly rebuilt a double-digit lead, but Brunson and the gritty Knicks wouldn’t let them get away
“We weren’t ready to win an NBA championship,” Spurs coach Mitch Johnson said. “The better team won.
We did a lot of good things, and we didn’t finish the job. That’s what it is
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Startup Fence uses blockchain technology and tokenization in the background to automate processes that many asset managers still rely on manual workflows.
That layer — from tracking loan pools to verifying collateral and moving cash — is often fragmented across multiple firms and still runs on spreadsheets, PDFs and email. The setup can slow transactions and leave investors with limited visibility into the assets backing their investments.
Fence aims to replace those processes with a single system that updates data in real time, Juan Montero, co-founder and CEO of Fence, told CoinDesk in an interview. Lenders can monitor loan performance and cash flows continuously, rather than relying on periodic reports, he explained.
The company says that approach can cut costs for big asset managers. In deals with BBVA, one of Spain's largest banks overseeing $800 billion in assets, Fence reported lower funding costs for borrowers and reduced operational work, while tracking large volumes of loans on an ongoing basis.
Fence is using blockchain less as a front-end product than as back-end plumbing. The company does not pitch banks and asset managers on tokens or crypto wallets. Instead, it uses smart contracts behind the scenes to manage cash, collateral and the rules that govern these deals.
In a typical facility, lenders may wait days for loan data to be checked, reports to be sent and payments to clear, Montero said. Fence pulls that information through APIs, runs checks in software and uses smart contracts to release cash when deal terms are met, he said.
The company can also tokenize lender positions in financing vehicles and, in some cases, the underlying loans or invoices. That can allow investors to transfer positions, borrow against them or receive payments automatically if ownership changes. Still, Montero said tokenization is only used where it adds value.
We don't want to be seen as a blockchain company. We’re building the infrastructure for the capital markets," Montero said. “Others digitize the paperwork. Fence rebuilt the plumbing."
The company says it now oversees about $1.5 billion in assets across its platform, working with firms including BlackRock and Fortress. It can onboard new deals in weeks, compared with months under standard processes.
The funding will help the company expand in the U.S. and build out its product, Montero said, betting that faster data and fewer manual steps can reshape how credit markets operate behind the scenes.
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