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Regulator Confirms US Banks Can Legally Hold Clients’ Crypto Assets in Custody
On May 7, Acting Comptroller Rodney Hood of the U.S. Office of the Comptroller of the Currency (OCC) issued an interpretive letter, authorizing national banks and federal savings associations to buy and sell crypto assets they hold for customers. In... -
Bhutan Partners with Binance to Launch Crypto Tourism Payment System
Binance, the world’s largest cryptocurrency exchange, has partnered with Bhutan to create a first-of-its-kind national crypto payment system for tourism. The collaboration between Binance Pay and Bhutan’s fully digital DK Bank enables travelers to pay for goods and services using... -
Tether Mints $1B USDT on Tron Network As Gap with Ethereum Narrows
On May 5, Tether minted another $1 billion USDT on the Tron network, increasing this year’s Tron mints to $9 billion and pushing Tron’s circulating USDT to $71.4 billion. Ethereum-based USDT maintains its lead with $72.8 billion in circulation, yet a gap of only $1.4 billion separates the... -
Tesla Cuts Model Y Financing in New Signs of Demand Slowdown
Tesla (NYSE: TSLA) has cut the financing rates for its new Model Y in the US. While it is usual for the company to offer incentives towards the end of the quarter, this time around it is offering the discount... -
BRICS Goes Off-Grid—Dumps Dollar for Local Currency Trade System
At a recent BRICS meeting in Rio de Janeiro, foreign ministers discussed steps to reduce reliance on Western financial systems. The focus was on fostering greater economic autonomy through the increased use of local currencies in international trade. The move... -
Maldives Bets Big on Crypto with $8.8 Billion Financial-Free Zone
On May 4, the Maldives signed a deal with Dubai‑based family office MBS Global Investments to invest over $8 billion in a new financial-free zone called the Maldives International Financial Centre (MIFC). The project will cover 830,000 square-meter and focus on blockchain, crypto, and wider digital‑asset firms. Construction... -
Amazon Provides Soft Guidance Amid Tariff Uncertainty
Amazon (NYSE: AMZN) released its Q1 2025 earnings yesterday after the close of markets. While the company beat Q1 earnings estimates, its Q2 guidance spooked investors. Here are the key takeaways from the company’s Q1 report and analysts’ reaction. Amazon’s... -
U.S. Treasury to Block Cambodia’s Huione From Banking Services Over $4B Laundering
The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) announced its decision on May 1 to restrict the Huione Group’s access to the American banking system after tracing roughly $4 billion in illicit funds through the Cambodian conglomerate since August 2021. Investigators have linked at... -
Blockstream Restructures Mining and ASIC Divisions to Boost Bitcoin Scalability and Investor Confidence
Bitcoin-focused technology firm Blockstream has announced a strategic move to spin off its mining and ASIC (Application-Specific Integrated Circuit) divisions into separate entities. This decision follows a successful $210 million funding round led by Fulgur Ventures in October 2024. The... -
AUSTRAC Tells Dormant Crypto Exchanges to Cancel Licences Over Fraud Risk
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has told inactive registered crypto exchanges to withdraw their registrations or risk having them canceled. The agency is concerned that dormant exchanges could be used for scams or illegal activity. Crypto Fraud...
