Everything web3, crypto, defi, degen
About the AuthorPorter Stowell is CEO of W3.io, the company building Web3’s first programmable intelligence layer. He’s held senior roles at IBM Blockchain, Coinbase, and Filecoin, where he honed his expertise across Web3 infrastructure and ecosystems. The views expressed here are his own and do not necessarily represent those of Decrypt.With the GENIUS Act now…
In brief Hong Kong’s stablecoin licensing regime takes effect today, requiring fiat-referenced issuers to obtain HKMA approval. It comes shortly after the U.S. passed the GENIUS Act, sparking comparisons between the two approaches. Analysts say adoption may be slow in local retail, but firms eye international and B2B applications. Hong Kong officially introduced its long-awaited…
In brief South Korea’s FSC and FSS summoned officials from five major crypto exchanges after Upbit and Bithumb launched lending products offering up to 4x leverage, enabling short-selling through borrowed funds. Upbit suspended its Tether lending service, citing potential violations of Korea’s Lending Business Act, while Bithumb modified its structure but maintained controversial 4x leverage…
Kraken is in build mode. We are creating a multi-asset platform that enables anyone to trade anything, anytime, anywhere. In Q2, our pace accelerated — new products launched, global access expanded and infrastructure scaled. We are pushing the envelope on geo expansion and establishing ourselves as the infrastructure provider that will power the next generation…
In brief Indonesia’s new tax policy imposes a 1% levy on offshore crypto transactions, while domestic trades face an increased 0.21% rate. The overhaul eliminates VAT for crypto buyers and raises mining VAT to 2.2%, with standard income tax rules coming in 2026. Decrypt was told the tax hike could deter high-volume or frequent retail…
In brief Strategy has closed a $2.5 billion offering of STRC, its new perpetual preferred stock. Funds were used to buy 21,021 BTC at an average price of $117,256. Strategy now holds around 629,000 BTC worth roughly $73 billion. Michael Saylor’s Strategy has yet again pulled off the largest crypto-linked equity raise this year, closing…
In brief Bakkt is selling the unit to Project Labrador as part of its shift toward becoming a pure-play crypto platform. The loyalty business only generated roughly $10 million in Q2 revenue, compared to more than $568 million from its crypto services. Analysts told Decrypt the pivot sharpens focus but won’t easily close the gap…
In brief Hackers leaked 72,000+ selfies, IDs, and DMs from Tea’s unsecured database. The private info of women using the app is now searchable and spreading online. The original leaker said lax “vibe coding” may have been one of the reasons why the app was left wide open to attack. The viral women-only dating safety…
In brief The U.S. government is considering bringing charges against Dragonfly’s Tom Schmidt and other partners, Assistant U.S. Attorney Thane Rehn said Friday in federal court. Dragonfly invested in Tornado Cash developers’ Pepper Sec in 2020. Federal prosecutors seized Schmidt’s devices and raided his house in connection to their investigation into Roman Storm. U.S. prosecutors…
In brief Agama, a longtime SEC official appointed Director-General in 2024, has pushed for more proactive engagement with digital asset firms. His latest remarks follow the onboarding of stablecoin firms into the SEC’s regulatory sandbox and renewed public outreach. Analysts say rebuilding trust will depend on whether the government follows through with consistent, transparent enforcement.…
