From Stripe acquiring Privy to crypto updates in Singapore, here are the stories you may have missed this week.
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Crypto News You May Have Missed This Week | June 14, 2025
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Crypto News You May Have Missed This Week | May 24, 2025
From Sui’s Cetus Protocol Hack to Pi Network Scam allegations, here is a roundup of the top crypto stories you may have missed.
Sui’s Cetus Protocol hacked for $260M
Sui’s largest decentralized exchange, Cetus Protocol, was hacked for $260 million, triggering a major crisis for the SUI ecosystem. The attacker exploited the platform using fake tokens like BULLA to manipulate liquidity pools and drain real assets, including 12.9 million SUI and $60 million in USDC.
The hacker later converted a large portion of the stolen USDC into 21,938 ETH, in an attempt to launder the funds. In response, Cetus immediately paused its smart contracts and launched a full investigation, while the SUI token price dropped roughly 15%, falling to around $3.90.
Cetus is now focused on damage control, recovering stolen assets, and reinforcing ecosystem security.
U.S. Senate Advances GENIUS Act
In a historic move, the U.S. Senate voted 66-32 to advance the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act to the Senate floor, marking the first time stablecoin legislation has reached this stage.
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This bipartisan breakthrough came after last-minute revisions and political pressure from pro-crypto groups like Stand With Crypto, which threatened to score the vote. While the revisions attracted enough support to clear the 60-vote threshold, critics argue the changes were largely superficial, designed more to provide political cover than address serious concerns.
The revised GENIUS Act introduces nominal oversight for Big Tech-issued stablecoins through a new review committee but leaves several loopholes intact, such as weak data protections and potential regulatory capture. The bill permits private firms to issue stablecoins, and while it restricts foreign issuers from operating on centralized exchanges, decentralized platforms remain unaffected.
Legislative features:
- Allows private firms to issue stablecoins
- Empowers states to charter stablecoin issuers
- Requires reserves to be fully backed by U.S. dollars and Treasury bills
- Mandates regular audits and compliance with AML standard
Tether, a major offshore stablecoin issuer, could face tighter restrictions. The legislation bars foreign stablecoins from operating on U.S.-based centralized exchanges unless they meet U.S. compliance requirements.
Blum Co-founder Arrested in Russia
Vladimir Smerkis, co-founder of the Telegram-based crypto project Blum and former head of Binance Russia, has been arrested in Moscow on allegations of large-scale fraud, according to Russian state media TASS. The accusations reportedly stem from his earlier ventures, The Token Fund and Tokenbox, where investors allegedly lost around $15 million.
While Smerkis remains under investigation and no formal charges have been confirmed, the court has approved his detention. Blum has clarified that Smerkis resigned and is no longer involved with the project in any capacity.
Cardano CEO Denies $600M ADA Misuse Allegations
Charles Hoskinson, founder of Cardano and CEO of Input Output Global (IOG), denied allegations that he misappropriated $600 million worth of ADA tokens. The controversy stems from claims that Hoskinson used a “genesis key” during the 2021 Allegra hard fork to manipulate the Cardano ledger and gain control over 619 million ADA.
In response, Hoskinson stated that the vast majority of the 350 million ADA in question had already been redeemed by original buyers over a seven-year period, and the remaining unclaimed funds were donated to Intersect, a Cardano-related organization.
Hoskinson expressed being “deeply hurt” by the community’s reaction and lack of trust, promising that IOG will release an audit report to clarify the situation. He noted that the accusations lack strong evidence and signaled a shift in how he engages with the community, including possibly handing over control of his social media accounts to a media team.
Pi Network Faces $8B Scam Allegations After Insider Token Dump
Pi Network is facing serious allegations of a potential $8 billion scam, following claims that over 12 million PI tokens were dumped by insiders from the Pi Core Team.
Blockchain investigator Atlas accused the team of orchestrating a pump-and-dump scheme, citing a sharp price increase followed by a dramatic 50% crash as evidence. The PI token, which had surged over 100% in early May 2025, began falling rapidly after May 14, coinciding with the alleged sell-off. This has led to widespread investor outrage and renewed concerns over the project’s transparency.
This article is published on BitPinas: Crypto News You May Have Missed This Week | May 24, 2025
What else is happening in Crypto Philippines and beyond?
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Crypto News You May Have Missed This Week | May 03, 2025
From the launch of Worldcoin’s Orb Mini and U.S. expansion to a class action against Nike’s crypto venture and the upcoming crypto trading on E*Trade, here is a roundup of the top crypto stories you may have missed.
World Orb Mini and US Launch
Tools for Humanity, the startup behind the Worldcoin project, unveiled a new portable device called the Orb Mini, designed to verify whether someone is human or an AI agent. Debuting at the company’s “At Last” event in San Francisco, the Orb Mini builds on its existing Orb technology by offering a smartphone-sized device aimed at scaling human verification through biometric eye scans, creating a unique blockchain-based ID. The device’s exact functionality remains unclear, but its core purpose is to expand user verification efforts.
In addition, Worldcoin officially launched in the U.S., expanding into six major cities with thousands of Orb iris scanners. The iris scanning activities are deployed in Atlanta, Austin, Los Angeles, Miami, Nashville and San Francisco.
FTX Legal Actions
FTX logo is seen in this illustration taken, November 8, 2022. REUTERS/Dado Ruvic/Illustration FTX launched legal proceedings to recover tokens and cryptocurrencies owed by uncooperative issuers, after failed attempts at amicable resolution. The lawsuits target companies like NFT Stars Limited and Delysium. The firm urges issuers to engage in constructive dialogue, warning that continued noncompliance will lead to further legal actions and reputational risks.
Messika Integrates Crypto Payments
Parisian fine jeweler Messika integrated cryptocurrency payments globally across its boutiques and online store, allowing customers to pay with Bitcoin, Ethereum, USDT and Solana through a partnership with Lunu Pay. The system enables instant, fee-free crypto-to-fiat conversions.
Lawsuit vs. Nike Crypto Business
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Nike is facing a proposed class action lawsuit in New York federal court from purchasers of Nike-themed NFTs and crypto assets, who claim they suffered major financial losses after the company abruptly shut down its RTFKT unit in December 2024.
The plaintiffs, led by Australian resident Jagdeep Cheema, argue that Nike misled buyers by selling what they allege were unregistered securities and then “pulling the rug” on the project, causing NFT demand to collapse.
The lawsuit seeks over $5 million in damages for alleged violations of consumer protection laws in multiple U.S. states. Nike had acquired RTFKT in 2021 as part of a push into digital collectibles and web3 innovation.
WLFI Partners with Pakistan Crypto Council
World Liberty Financial, a crypto firm backed by U.S. President Donald Trump and his family, signed a letter of intent with the Pakistan Crypto Council to support the country’s growing crypto ecosystem. The partnership aims to launch regulatory sandboxes, promote stablecoin use in remittances and trade, and explore decentralized finance and real-world asset tokenization.
Peaky Blinders Blockchain Game
The hit TV series Peaky Blinders is being adapted into a blockchain-based video game, scheduled for release in 2026. The game is being developed by Anonymous Labs in collaboration with Banijay Rights.
The game will offer an immersive post-World War I Birmingham setting, interactive action experiences and tokenized in-game currency. While specific details about the blockchain network, economic structure and gameplay mechanics remain undisclosed, the project aims to expand the Peaky Blinders universe into the Web3 space and offer fans a new digital entertainment experience.
Ghana to Regulate Crypto by September
Ghana’s central bank is preparing to regulate cryptocurrency and related platforms by September 2025, according to Bank of Ghana Governor Johnson Asiama. The initiative hinges on the passage of the Virtual Asset Providers Act and includes the creation of a dedicated digital assets unit within the bank.
IRL Black Mirror Story?
A licensed cryptocurrency inspired by Netflix’s Black Mirror is set to launch, featuring an interactive experience built on the KOR Protocol. The project introduces Iris, a virtual assistant that tracks user behavior and assigns reputation scores, reflecting the show’s themes of surveillance. Users with higher scores will earn airdrops and rewards based on their engagement with decentralized communities and social media platforms.
Participants will use a Social ID Card NFT to track their behavior and reputation, unlocking rewards and influence over storylines. The experience also includes upcoming features such as AI coaching, dynamic quests and interactive mini-games. Users can join by connecting an Ethereum or Solana wallet, though the specific blockchain for the token has not been revealed. More than 13,000 reputation IDs have already been claimed.
Morgan Stanley Builds a Crypto Trading Feature for E*Trade
Morgan Stanley is preparing to introduce cryptocurrency trading on its E*Trade platform, aiming for a 2026 launch. The investment bank is currently exploring partnerships with crypto-native firms to enable spot trading of major cryptocurrencies like Bitcoin and Ethereum.
Currently, Morgan Stanley offers crypto exposure through ETFs, options and futures for high-net-worth clients, but this expansion would directly compete with cryptocurrency platforms.
This article is published on BitPinas: Crypto News You May Have Missed This Week | May 03, 2025
What else is happening in Crypto Philippines and beyond?
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Crypto News You May Have Missed This Week | April 21, 2025
From Sony’s new web3 project to new updates from Bybit, here’s a roundup of the top crypto stories you may have missed.
Sony Web3 Project: Solo Leveling Digital Collectible
Sony launched the Anime Art Festival, a Web3 initiative that blends anime fandom with blockchain technology, debuting with a digital collectible based on the hit anime Solo Leveling.
The collectible is available via Sony’s proprietary Layer-2 blockchain, Soneium. It was developed with San FranTokyo’s Anime ID and Animoca Brands’ AIR Kit. Fans can mint collectibles, earn digital badges and build on-chain reputations based on their engagement, with hints of future utilities tied to their participation. Additional features include linking MyAnimeList accounts to integrate anime viewing history and participate in giveaways and writing contests.
NFT trader faces jail for tax evasion on CryptoPunk profits
Waylon Wilcox, a 45-year-old NFT trader, pleaded guilty to underreporting nearly $13 million in profits from selling CryptoPunk NFTs across 2021 and 2022. He earned approximately $7.4 million in 2021 and another $4.9 million in 2022 from 97 total sales but filed false tax returns to conceal these earnings. In doing so, he reduced his tax liability by more than $3 million across the two years. Wilcox now faces a maximum of six years in prison, supervised release and potential fines, though the final sentence has yet to be determined. (Read more: Then vs. Now: Top NFT Collections and How Much Their Prices Have Crashed Since 2021)
Federal prosecutors and the IRS emphasized the seriousness of financial crimes involving digital assets, noting that Wilcox had intentionally misled authorities by denying any digital asset transactions on his tax forms.
Google to Enforce MICA Rules on Crypto Ads
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Starting April 23, Google will enforce new advertising rules for cryptocurrency services in Europe under the EU’s Markets in Crypto-Assets (MiCA) framework and Crypto Asset Service Provider (CASP) regulations.
Crypto exchanges and wallet providers must now be licensed under these regulations and certified by Google to run ads across most EU countries. The policy aims to align with local and national-level legal requirements, though violators will receive a warning at least seven days before account suspensions.
Trump family to Launch a Monopoly-inspired Crypto Game
The Trump family is reportedly preparing to launch a crypto-based game inspired by Monopoly by the end of April, led by Bill Zanker, a close associate who previously worked with Donald Trump on NFT projects and the Trump meme coin.
The game is said to feature in-game currency that may tie into crypto elements, though exact details about its mechanics and tokenomics remain vague.
Slovenia to Tax Crypto Profits at 25%
Slovenia’s finance ministry proposed a 25% tax on capital gains from cryptocurrency starting in 2026. The tax would apply to profits from selling crypto for fiat currency or using it for goods and services, but would exclude swapping one cryptocurrency for another.
The tax is expected to generate between €2.5 million and €25 million annually and will be assessed on the difference between the acquisition and sale prices, minus transaction fees. The Finance Ministry is seeking public feedback on the proposal.
OpenSea Integrates Solana on Its OS2 Platform
OpenSea has integrated the Solana blockchain network into its OS2 platform, allowing users to trade Solana-based meme coins. The move aims to expand cross-blockchain compatibility for NFTs and other digital assets.
The integration supports token trading for Solana and is currently available to a select group of beta users, with broader access coming soon. The initiative is part of OpenSea’s larger goal to enhance its OS2 platform, which will eventually support more than 20 blockchain networks and provide a more unified experience for NFT and token trading.
CZ Reveals His Crypto Portfolio
Binance co-founder Changpeng “CZ” Zhao publicly revealed his crypto portfolio using Binance Square’s new trader profile feature. He listed BNB as his dominant asset at 98.48%, followed by Bitcoin (1.32%), EURI (0.17%) and USDT (0.03%).
ByBit Shutdowns 4 More Web3 Services
Bybit is significantly scaling back its web3 operations, announcing the shutdown of several services, including its Cloud Wallet, Keyless Wallet, NFT marketplace, multi-chain DEX (DEX Pro), and the Swap & Bridge widget, all effective by May 31.
The move follows the earlier closure of its NFT marketplace and comes alongside the discontinuation of Web3 Points, NFT Pro, Apex Pro gateway, fiat-to-crypto on-ramp and its initial DEX offering service on April 28. These changes are part of a broader strategic shift following a $1.4 billion hack that hit the platform in February.
BIS Calls for “Containment” of Crypto Risks
A new report from the Bank for International Settlements (BIS) calls for stronger regulation and a “containment” approach to crypto and DeFi risks as their integration with traditional finance deepens.
Titled Cryptocurrencies and Decentralised Finance: Functions and Financial Stability Implications, the report warns of potential spillovers into the real economy through developments such as crypto ETFs and tokenized real-world assets. While the BIS acknowledges that an outright ban on crypto is neither feasible nor desirable, it argues that tighter oversight—including KYC requirements and professional standards—is needed due to persistent risks like scams, anonymity and information asymmetry.
This article is published on BitPinas: Crypto News You May Have Missed This Week | April 21, 2025
What else is happening in Crypto Philippines and beyond?
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Crypto News You May Have Missed This Week | April 12, 2025
From CZ’s new role in Pakistan’s Crypto Council to the merging of two Immutable’s blockchain, here’s a roundup of the top crypto stories you may have missed.
CZ Joins Pakistan’s Crypto Council as an advisor
Binance co-founder and former CEO Changpeng “CZ” Zhao has joined Pakistan’s newly formed Crypto Council as an advisor, aiming to help shape the country’s digital asset landscape. His guidance will focus on improving Pakistan’s crypto regulations, infrastructure, education and adoption strategies.
Thailand Cracks Down on Foreign P2P Crypto Platforms
Thailand introduced a sweeping legal overhaul to crack down on unregulated foreign crypto platforms, with new amendments enabling authorities to suspend suspicious transactions and penalize unauthorized peer-to-peer (P2P) services. Under the revised rules, violators could face up to three years in prison or a 300,000 baht fine.
The laws, set to take immediate effect upon publication, extend liability beyond crypto firms to include banks, telecoms, and social media platforms if they fail to meet cybercrime prevention standards.
Despite its crackdown, Thailand remains open to regulated crypto innovation. The country is considering launching a blockchain-based securities trading platform, exploring a government bond-backed stablecoin, and testing Bitcoin payments for tourism in Phuket.
Magic Eden Expands Into Crypto Trading
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Magic Eden is expanding beyond NFTs by acquiring Slingshot Finance, a mobile-first crypto trading app known for cross-chain swaps and user-friendly design. Magic Eden noted that the move positions it as a full-scale digital asset platform, offering both token and NFT trading across multiple blockchains.
The acquisition will let users trade more than 5 million tokens with features like email login and fiat on-ramps, while Slingshot adds upcoming support for bitcoin-based meme coins.
NFT Sales Plunge In March
NFT sales plummeted in March 2025, with overall market volume dropping by 43% from February, totaling just $419 million. Major blockchains saw significant declines, with Ethereum-based NFT sales falling 58% to $127 million, bitcoin NFTs down 32% to $71 million, and Polygon dropping 41% to $63 million. Solana and Mythos Chain also reported decreases of 10% and nearly 25%, respectively.
Top-selling NFT collections in March 2025:
- Courtyard – $54 million (increased 48%)
- DMarket – $41 million (increased 2.22%)
- CryptoPunks – $19 million (increased 37.91%)
- ?? BRC-20 Collection – $18 million (increased 16%)
- Guild of Guardians Heroes – $17 million (decreased 28.37%)
- Paradise – $15 million (increased 18%)
- Pudgy Penguins – $8 million (decreased 65%)
- Guild of Guardians Avatar – $7.9 million (increase by 5.86%)
- Quantum Cats – $7.7 million (increased 51%)
- Fx-wsteth-position – $6.8 million (increased 55%)
CFPB Expected to Scale Back Its Role in Crypto Regulation
The Consumer Financial Protection Bureau (CFPB) is expected to reduce its role in cryptocurrency regulation as other federal bodies, such as the Securities and Exchange Commission, take on a larger regulatory responsibility.
This shift comes amid the Trump administration’s broader efforts to streamline the federal bureaucracy. Despite this pullback, the CFPB will still retain some regulatory duties due to statutory requirements that can only be altered by Congress.
Hong Kong Issues Crypto Staking Rules for Exchanges
Hong Kong’s Securities and Futures Commission (SFC) issued new guidelines that permit licensed crypto exchanges and funds to offer staking services, as part of its strategy to expand the city’s digital asset sector.
Staking allows crypto holders to earn passive income by participating in proof-of-stake networks, which are vital for blockchain security. The commission emphasized that platforms must maintain full control over client assets and disclose all associated risks, such as hacking or technical errors.
Catizen Token Consumption Surpasses 30 Million
In the first quarter of 2025, Catizen saw a significant increase in token consumption, surpassing 30 million CATI—a 3.5-fold rise from Q4 2024. The platform’s user base has grown to more than 3.3 million, with over 1 million CATI consumed daily.
Catizen also plans to launch more than 200 games in 2025, targeting Asian markets such as Japan, Korea, Taiwan and Southeast Asia, and aims to integrate AI-driven virtual pets for a more immersive experience. Catizen’s vision is to establish itself as a web3 mini-app platform, drawing inspiration from WeChat’s successful ecosystem model.
Kaspersky Flags Crypto-Swiping Malware on SourceForge
Cybersecurity firm Kaspersky flagged a malware campaign that targets cryptocurrency users by replacing trusted wallet addresses with the attacker’s own. This malware, distributed under the guise of Microsoft Office add-ins on SourceForge, installs ClipBanker, which swaps clipboard cryptocurrency addresses. Users typically don’t notice the change, leading to funds being sent to the attacker’s wallet instead.
The malware’s distribution appears concentrated in Russia, but its English-language download page suggests a broader reach.
The exploit relies on redirecting users to a fake download link, which appears to be a legitimate 700MB installer—though only 7MB of it contains the actual malware. Between January and March 2025, about 4,604 Russian users were affected. Kaspersky urges users to avoid downloading software from untrusted sources, as alternative links may carry significant security risks.
Immutable to Merge Chains
Immutable Immutable plans to consolidate its two major blockchain technologies—Immutable X and Immutable zkEVM—into a unified chain by late 2025, streamlining its platform for Web3 gaming. Immutable X, the original layer-2 solution for Ethereum, will gradually phase out in favor of zkEVM, which has already processed nearly 150 million transactions. The transition will be seamless for users, with assets automatically migrated and no disruption to existing operations.
This article is published on BitPinas: Crypto News You May Have Missed This Week | April 12, 2025
What else is happening in Crypto Philippines and beyond?
