In a shocking revelation, it has been revealed that Jerry Yu, a 23-year-old NYU pupil, is the key proprietor of a $6 million cryptocurrency mine situated in Texas. Yu comes from a rich background and resides in an expensive condo in Manhattan. Authorized disputes arose within the Texas city involving mining contractors, who filed lawsuits over unpaid work. The lawsuits inadvertently uncovered secret possession of the mine by U.S. It\’s price noting that the mine was acquired utilizing cryptocurrencies as an alternative of conventional {dollars}, which offers a layer of anonymity. The monetary transaction was routed by an exterior trade, making certain that the supply of funding was not disclosed. This technique allows Chinese language buyers, like Yu, to bypass the US banking system and evade scrutiny by federal regulators, in addition to bypass restrictions on cash leaving China. These mines function a way for Chinese language buyers to generate cryptocurrencies, primarily Bitcoin, which may later be transformed into US {dollars} on exchanges.