Everything web3, crypto, defi, degen
By Arjun Sethi, Kraken co-CEO When the head of the International Monetary Fund says fiat is going digital and urges countries to accept reality, that is not a policy tweak. It is the moment the establishment admits that the world has already changed. For years, global institutions treated crypto as a novelty or a risk.…
In brief Burke revealed Australia’s crypto ATM count has exploded from 23 machines six years ago to over 2,000 today, with 85% of top user transactions linked to scams or money mules. The proposed legislation would grant AUSTRAC the authority to restrict or prohibit “high-risk products,” with crypto ATMs specifically targeted. The move follows months…
In brief Erebor became the first crypto bank to win a conditional federal charter under the Trump administration, and only the second ever after Anchorage Digital. Backed by Palmer Luckey and the firms of Joe Lonsdale and Peter Thiel, Erebor will soon likely join Anchorage in having certain advantages regarding the issuance of stablecoins under…
In brief Sony Bank’s subsidiary Connectia Trust has filed for a national banking charter to issue dollar-pegged stablecoins, maintain reserve assets, and offer digital asset custody and management services. The application joins a growing list of crypto firms seeking OCC charters, including Stripe, Coinbase, Paxos, and Circle. Sony Bank is part of Sony Group’s diverse…
In brief The U.S. seized $14.4 billion in Bitcoin from the alleged head of a global crypto scam network on Tuesday, in the DOJ’s largest-ever crypto seizure. Prosecutors are seeking to claim the funds through criminal forfeiture, raising questions about whether the Bitcoin will go to victims or be added to a national strategic Bitcoin…
In brief Joe Moglia, former TD Ameritrade chairman and current chair of Ethereum treasury FG Nexus, says every stock, option, mutual fund, and ETF will be tokenized within five years. FG Nexus is also exploring the tokenization of its reinsurance company’s risk exposure. Industry experts say the timeline is plausible, even with infrastructure challenges including…
In brief Two MIT-educated brothers went on trial Tuesday for allegedly stealing $25 million in a 12-second Ethereum blockchain exploit. The defense argues there was no crime at all, just strategy in an unregulated market where “economic incentives guide parties’ behavior,” not laws. If convicted of conspiracy, wire fraud, and money laundering charges, Anton and…
In brief A Coinbase exec’s tweet has reignited interest in a long-dormant Binance charity fund this week. The $200,000 donation made in 2018 is now worth around $36 million. The money has been frozen amid years of legal and bureaucratic wrangling. Coinbase executive Conor Grogan has called for an old fund for Maltese cancer patients…
In brief Reform UK has reportedly received a donation in cryptocurrency, the UK’s first ever to a political party. Donations must be referred to the electoral regulator if they exceed £11,180 ($14,905). Commentators warn that crypto-based donations may increase the risk of anonymous and illicit campaign contributions. The UK’s Electoral Commission is planning to update…
In brief Microsoft allegedly used an exclusive Azure agreement from 2019 to control compute supply to OpenAI, keeping ChatGPT prices artificially high while developing competing AI products. When OpenAI began buying compute from Google in June 2025, token prices reportedly dropped 80 percent within weeks, which plaintiffs say is evidence of the restraint. The lawsuit…
