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The CEO of Bybit, Ben Zhou, called Pi Network a fraudulent project and rejected the listing of the token following a warning from Chinese authorities
The CEO of Bybit, Ben Zhou, called Pi Network a fraudulent project and confirmed that his exchange will not list the Pi Coin token. Zhou referred to the warning from Chinese authorities in 2023, who accused Pi Network of manipulating the personal data of elderly people, leading to financial losses. He also refuted rumors about the impossibility of listing on Bybit, stating that the project needs to be more transparent.
SEC concludes investigation against OpenSea: The platform is cleared of securities law violations, supporting the development of the NFT industry
OpenSea founder, Devin Finzer, announced that the SEC has concluded its investigation into the platform. This decision frees the industry from the threat of NFTs being recognized as securities, which could have slowed down its development. The platform received support not only from industry peers but also from competitors like Magic Eden. Many experts believe that this event could serve as a catalyst for the next wave of growth in the NFT market. The market's reaction was positive, as it strengthens trust in the ecosystem.
FTX continues to make payments to creditors, but users from Russia, China, Ukraine, Nigeria, and Egypt remain excluded; payments for large creditors will begin in the second quarter of 2025
FTX continues to make payments to creditors, however, users from countries such as Russia, China, Ukraine, Nigeria, and Egypt remain excluded from the current distributions. This is due to the inaccessibility of the Kraken and BitGo platforms in these regions. The first phase of payments was completed on February 18 for creditors with amounts up to $50,000, who also received 9 percent per annum. Payments for larger creditors (with amounts exceeding $50,000) are planned to begin in the second quarter of 2025. The information about the payments is based on official statements and data from FTX.
SEC approved the first U.S. interest-bearing stablecoin from Figure Markets, offering a 3.85 percent yield and available for independent storage and transactions
The company Figure Markets received approval from the SEC to launch the first stablecoin with an interest rate in the U.S., YLDS, which is pegged to the dollar and offers a 3.85 percent yield. This is an important step for the stablecoin market as it demonstrates the U.S. regulators' readiness for innovation in the cryptocurrency space. The CEO of the company, Mike Cagney, noted that such a stablecoin could replace traditional banking services by giving users the ability to store funds independently, earn interest, and conduct transactions.
Kanye West (Ye) announces the launch of the YZY cryptocurrency, which will allow bypassing platforms like Shopify, with the aim of making it the primary currency for purchases on the official website
Bybit was subjected to a hacker attack, during which over $1.4 billion in staked Ether and other ERC-20 tokens were stolen
The SEC drops the appeal against extending securities laws to DeFi, paving the way for a productive dialogue between the crypto industry and the regulator
The ECB is developing a blockchain-based payment system, which could lead to the issuance of a digital euro to improve settlements and economic stability in the eurozone
The Chief Technology Officer of SafeMoon, Thomas Smith, pleaded guilty to cryptocurrency fraud involving $200 million related to false statements about the liquidity of the SFM token
Elon Musk accuses the Democrats of "treason" at the Conservative Conference, calling for an audit of the Federal Reserve and the fight against bureaucracy
The BestChange website, a cryptocurrency exchange rate aggregator, was unblocked after being blocked due to suspicions of violating the cryptocurrency advertising law in Russia
TikTok is cutting staff in the security department amid the threat of a ban in the US and an investigation into political bias in the algorithms in Germany and other countries
A former employee of Wechain FinTech, Ho Kai Xin, has been sentenced to nearly 10 years in prison for stealing over $4 million from the ByBit cryptocurrency exchange through manipulation of payroll data
Ho Kai Xin, a former employee of Wechain FinTech, stole over $4 million from the cryptocurrency exchange ByBit by manipulating payroll records. The fraud was uncovered in 2022, and in 2025, Ho was sentenced to 9 years and 11 months in prison. The exchange was able to recover $1.27 million. This case highlights the importance of effective internal controls in cryptocurrency companies to prevent such crimes and losses.
British Graham Darby sentenced for concealing cryptocurrency assets in legal dispute related to an unfulfilled deal to exchange bitcoins and Tezos
50-year-old Graham Darby from the UK was sentenced to 18 months for concealing his cryptocurrency assets during a legal dispute with Australian Zhi Wan. They had agreed to exchange 30 bitcoins for 400,000 Tezos, but Darby failed to fulfill the terms of the deal and did not return the Tezos after the deadline. During the investigation, it was revealed that Darby had 100 bitcoins, which he did not disclose. The court found him guilty of withholding information and sentenced him to prison, which was reduced after he pleaded guilty and apologized.
SEC is creating a new division to combat cybercrime and protect investors: The Cyber and Emerging Technologies Unit will replace the Crypto Assets and Cyber Unit
The U.S. Securities and Exchange Commission (SEC) has announced the creation of a new division – the Cyber and Emerging Technologies Unit (CETU), which will replace the Crypto Assets and Cyber Unit. CETU will focus on combating cybercrimes related to artificial intelligence, blockchain, hacker attacks, account takeovers, and other threats to investors. The goal is to protect investor interests, support innovation, and ensure the safety of new technologies. The SEC is also creating a working group to develop a clear regulatory framework for cryptocurrencies, which will contribute to the further development of the industry.
The SEC recognized Bitwise's application to create a spot ETF with XRP, raising the likelihood of approval in 2025, despite criticism from investor Jason Calacanis
The SEC recognized Bitwise's application to create a spot ETF with XRP, which happened this Tuesday. The application was submitted in October, which positively impacted the token's price. Last week, the SEC also acknowledged applications from Grayscale and 21Shares, which became an important event amid the ongoing legal battle with Ripple. While the recognition of the applications does not guarantee the approval of the ETF, the likelihood of its approval in 2025 is now 80 percent, according to the Polymarket platform. However, investor Jason Calacanis expressed doubts, claiming this could lead to "chaos."
Best news of the last 10 days
Robinhood plans to launch cryptocurrency services in Singapore by the end of 2025 after acquiring Bitstamp, using its licenses to enter the digital assets market in Asia
The SEC rejected the appeal in the case concerning the "dealer rule," which became a victory for the cryptocurrency industry and ended the controversial regulation of cryptocurrencies in the U.S.
The Supreme Court of South Korea recognized the cryptocurrencies TerraUSD and LUNA as non-securities, rejecting the seizure of assets from Terraform Labs co-founder Shin Hyun-seong
Nigeria has filed a lawsuit against Binance for $79.5 billion over unpaid taxes and illegal activities in the country, demanding financial reports for 2022 and 2023
Brazilian bank Braza Group launches the BBRL stablecoin on the XRP Ledger, with plans to capture 30 percent of the market in Brazil by 2025
The Brazilian bank Braza Group is launching the stablecoin BBRL, pegged to the Brazilian real, on the XRP Ledger blockchain. The stablecoin is backed by the assets of Braza Bank, the largest exchange bank in the country. The launch is planned for the first quarter of 2025, initially for institutional clients, with expansion to the business segment. It is expected that by the end of 2025, BBRL will capture 30 percent of the market in Brazil. Braza Group is also involved in the DREX project, aimed at improving financial services and possibly creating a central bank digital currency.
Binance.US restores USD deposits and withdrawals after suspension due to regulatory issues, allowing users to trade in USD and make bank transfers
Binance.US has restored the ability to deposit and withdraw in US dollars, which became possible after these operations were suspended in June 2023 due to pressure from regulators. Users can now deposit and withdraw USD through bank transfers and trade cryptocurrencies using pairs with US dollars. This restoration became possible after a series of legal battles with the U.S. Securities and Exchange Commission (SEC), which accused Binance.US of violating securities laws.
Franklin Templeton launches the first tokenized fund of U.S. Treasury bonds in Luxembourg, available to institutional investors in Europe
Franklin Templeton, a leading global asset manager, has launched a tokenized fund of U.S. Treasury bonds in Luxembourg. The Franklin OnChain U.S. Government Money Fund is the first Luxembourg fund investing in U.S. government securities, fully tokenized through blockchain. This enhances transparency and security of transactions. The fund is available to institutional investors in several European countries, such as Germany, France, and Switzerland, following approval from Luxembourg regulators. The tokenization of U.S. Treasury bonds continues to grow, becoming a $4 billion asset.
Trump fires highly qualified employees of the U.S. Department of Homeland Security to accelerate the implementation of immigration policy and improve DHS operations
The Trump administration is preparing to fire hundreds of high-profile employees from the Department of Homeland Security (DHS) as part of efforts to remove those who do not support the administration's goals. The dismissals will affect senior executive staff and employees at the General Schedule 15 level. This is part of a broader downsizing program within DHS aimed at improving the efficiency of agencies such as Customs and Border Protection and Immigration and Customs Enforcement, which play a key role in implementing U.S. immigration policy.