Crypto Trail Ends in Murder Convictions—Coinbase Traced the Killers

A brutal crime spree in NYC nightlife was brought to justice as blockchain sleuthing by Coinbase exposed killers, recovered funds, and redefined crypto’s role in law enforcement.

Coinbase Says ‘It Was One of the Most Difficult Cases We’ve Supported’

Paul Grewal, chief legal officer at crypto exchange Coinbase (Nasdaq: COIN), revealed on May 6 that the company’s blockchain forensics team played a critical role in a criminal investigation that led to multiple convictions in New York City. Speaking as part of Coinbase’s ongoing “Consumer Protection Tuesday” initiative, Grewal outlined how Coinbase collaborated with the New York Police Department’s Crimes Against Persons Division to help unravel a series of violent robberies, overdoses, and thefts tied to the city’s nightlife.

The case centered on a pattern of attacks where suspects targeted individuals—often from the LGBTQ+ community—outside bars and clubs in Manhattan’s 7th and 9th Precincts. Victims were drugged, their phones stolen, and financial and crypto accounts emptied using face ID or forced PIN entry. Grewal stated:

In some instances, victims were found dead from fentanyl-laced substances. In total, over $250,000 was stolen across multiple platforms, including Coinbase.

The criminal group quickly transferred funds through banking apps, peer-to-peer services, and crypto platforms. Tragically, several victims never recovered.

Coinbase’s rapid response and blockchain analysis proved instrumental in tracking the movement of stolen funds. Grewal emphasized: “Our blockchain analysis tied multiple wallets to the same crew, helped recover evidence across fiat and crypto rails, and supported convictions on 24 counts, including second‑degree murder. The case shows crypto isn’t the risk—it’s the trail of proof that put violent criminals behind bars.” The data supported the prosecution of Jayqwan Hamilton, Robert DeMaio, and Jacob Barroso, who were found guilty on 24 charges, including murder, robbery, and conspiracy. Two also faced burglary convictions.

Reflecting on the broader significance of the investigation, Grewal noted:

It was one of the most difficult cases we’ve supported. But it’s also one that underscores the power of blockchain to uncover truth, even when suspects go to great lengths to hide their tracks.

He also addressed the often-negative perception of crypto in law enforcement contexts: “This case was a reminder that crypto doesn’t exist in a vacuum. It intersects with the real world—in this case, a deeply tragic one. Our job at Coinbase is to ensure it’s part of the solution.”

Dollar Collapse Nears: Peter Schiff Says Ending Reserve Status Is Only Way Out

Peter Schiff says the U.S. dollar is about to free fall, insisting the only way to end America’s trade imbalance is to end its reserve currency status.

Dollar Collapse Nears: Peter Schiff Says Ending Reserve Status Is Only Way Out

The End of Reserve Currency Status? US Dollar Faces Terminal Decline as Imbalances Surge

Economist and gold advocate Peter Schiff issued a sweeping critique of U.S. economic policy on May 6, using social media platform X to warn of an impending collapse in the value of the U.S. dollar. Citing structural trade deficits and a lack of monetary discipline, Schiff argued that America’s financial stability is rapidly deteriorating:

The U.S. dollar is about to free fall and gold will soar to heights few can imagine. The only way to end America’s massive trade imbalance is to end the dollar’s role as the global reserve currency.

While highlighting gold’s potential rise, his broader message focused on the systemic weaknesses of the dollar-backed economic model.

In response to a scenario posted by investor Bill Ackman—who proposed a gradually escalating series of tariffs on Chinese imports—Schiff dismissed the idea as ineffective. He placed the blame squarely on U.S. fiscal habits, not foreign trade practices: “I think China has made the decision to move away from the U.S. That means they stop propping up the dollar and lending us money so they can keep selling us stuff we can’t afford.” Schiff suggested that this shift could force Americans into unsustainable consumption patterns driven by fears of inflation. He also commented in another X post: “The dollar will be losing purchasing powers, encouraging people to spend them as fast as they can.”

Schiff also took aim at Federal Reserve Chair Jerome Powell’s recent comments on the economy and inflation, interpreting them as contradictory and troubling. The Federal Reserve maintained its target interest rate range at 4.25% to 4.5% following its May meeting. “Reading between the lines here’s what Powell said,” Schiff began, elaborating:

We’re in a lot of trouble. The economy is weak and getting weaker, but the Fed can’t cut rates as inflation is getting stronger. In fact, we should be hiking rates, but we can’t do that either without creating a financial crisis.

He argued that the Fed’s tools are now ineffective, caught between stoking inflation and triggering broader economic instability.