According to the Wall Street Journal, the U.S. Treasury Department said in a report to Congress that the U.S. Treasury Department is investigating $165 million in cryptocurrency-related transactions that may have funded Hamas before it attacked Israel on Oct. 7 last year. U.S.-designated terrorist groups are increasingly using digital financing as Hamas's traditional sources of funding have been hit by Western sanctions, highlighting the need for Congress to approve new powers to oversee cryptocurrencies, U.S. Treasury officials said.