Category: crypto

Hong Kong lawmaker Johnny Ng assures investors that the city’s crypto regulatory framework is strong despite fraud allegations against First Digital Trust (FDT). Tron founder Justin Sun claims FDT mismanaged funds, highlighting regulatory gaps in trust company oversight. FDT denies the allegations and plans to defend its reputation legally.

The memecoin TRUMP, launched by Donald Trump, has dropped 10.36% in the past 24 hours due to new U.S. tariffs, ranking it as the seventh biggest loser in the digital asset market. It is currently trading at $9.29, down nearly 19.4% in a week. The token’s holders are mostly medium-term speculative traders.

US lawmakers are working on a bill to regulate stablecoins, with the STABLE Act of 2025 advancing in Congress. The bill aims to establish clear rules for issuing and managing dollar-backed stablecoins, including reserve requirements and anti-money laundering measures. Some Democrats have criticized the bill, citing concerns about conflicts of interest.

FTX, a bankrupt exchange, can reject creditor claims from users who did not complete the KYC process by March 3, 2025. Over 2,300 pages of claims have been invalidated. Claims not backed by KYC compliance will be removed. Repayments for claims over $50,000 begin on May 30. Smaller claims have already received payments.

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Bitcoin’s future is debated as industry experts predict its price for 2025 and beyond. Forecasts range from $120,000 to $1.5 million by 2030, with influential figures like Tim Draper and Anthony Scaramucci bullish on Bitcoin’s potential. However, caution is advised due to Bitcoin’s volatility and skepticism from some investors.

Compound Labs, the team behind DeFi protocol Compound Finance, is considering launching a foundation to improve operations and support long-term development. With $2.5 billion in total value locked, the platform is popular on Ethereum. The foundation would bring stability, legal clarity, and community alignment, similar to other DeFi ecosystems.

Senator Elizabeth Warren and Representative Maxine Waters have requested the SEC to preserve records related to World Liberty Financial, a DeFi venture backed by Trump’s family. Concerns about conflicts of interest and potential influence on SEC policy have been raised. The lawmakers also question SEC enforcement actions and transparency in the crypto industry.

US President Donald Trump announced reciprocal tariffs against all countries with a trade relationship with the US. This led to a spike in market volatility, with Bitcoin initially climbing to $88,500 before crashing back to $85,100. Other cryptocurrencies like Ethereum, Solana, BNB, XRP, and Dogecoin also saw decreases in value. Investors have been cautious due…

Ripple has integrated RLUSD into its cross-border payments platform, Ripple Payments, amidst a 118% monthly growth in market cap. RLUSD’s utility within Ripple’s global transaction infrastructure has expanded, coinciding with its listing on Kraken. This move aims to increase access for institutional and retail users, with plans to further integrate RLUSD with enterprise customers.