Category: crypto

Representative Cody Maynard introduced House Bill 1203 in Oklahoma to establish a Bitcoin Strategic Reserve of up to $850 million, making it the sixth US state to propose such legislation. Investments in Bitcoin and stablecoins would be capped at 10% of certain state funds, with custody and staking requirements. Eight states are currently pushing for…

The US Department of Justice fined BitMEX and its parent company $100 million for violating the Bank Secrecy Act. Despite pleading guilty in July 2024, the DOJ initially sought higher penalties. BitMEX has since improved its compliance standards but remains restricted in the US. The platform aims to focus on innovation and security.

Tether, a leading stablecoin issuer, has filed a lawsuit against Swan Bitcoin in the High Court of England and Wales due to significant breaches in their agreements. Swan Bitcoin ended their partnership abruptly, leading to legal action to protect Tether’s investment. The lawsuit highlights the strained relationship between the two companies.

Thailand is considering approving Bitcoin exchange-traded funds (ETFs) to adapt to the global rise in crypto adoption, with the SEC emphasizing the need for diverse investment options. Meanwhile, authorities are recommending banning Polymarket due to concerns about illegal gambling activities and potential risks to the economy.

World Liberty Financial (WLFI), a DeFi initiative tied to US President-elect Donald Trump, clarified recent $60 million Ethereum transactions as routine treasury management, not asset sales. The project converted WBTC to ETH and deposited nearly $59.8 million into Coinbase. Despite recent losses, WLFI holds approximately $16.7 million in assets.

Elon Musk, CEO of Tesla, criticized the SEC for suing him over delayed disclosure of a stake in Twitter. The SEC claims Musk failed to disclose owning more than 5% of Twitter, causing financial harm to investors. Musk called the SEC ineffective and accused them of focusing on trivial matters.

Ripple donated $100,000 in XRP to aid California wildfire victims through World Central Kitchen and GiveDirectly. The Giving Block facilitated the donation, with CEO Jared Isaacman pledging to match donations up to $1 million. Ripple also contributed $50,000 in RLUSD stablecoins to the LAFD Foundation. The donation comes amid ongoing legal battles with the SEC.

Investors are still interested in Bitcoin ETFs despite recent outflows in the market. Spot Bitcoin ETFs in the US saw significant outflows, with BlackRock’s IBIT fund experiencing the largest losses. The SEC has delayed its review of Bitwise’s proposal for a crypto index ETF, while Osprey Funds plans to convert its Bitcoin trust into an…

DeFi is evolving in 2025, with the merging of DeFi and AI known as DeFAI. Leading projects like Griffain, Orbit, and Aixbt are combining AI-driven features with decentralized protocols to enhance trading and lending. The market for these solutions is expected to grow significantly, but challenges such as transparency and regulation remain.

Deribit, a popular options trading platform, is reportedly exploring strategic opportunities with the help of FT Partners. It has seen a substantial increase in trading volume, reaching $1.2 trillion in 2024. Potential buyers, including Kraken, have shown interest in acquiring Deribit, with its valuation estimated at $4-5 billion. The surge in M&A activity in the…