2025-10-16
New York Department of Financial Services, which regulates Paxos, says it is “aware of the incident and is in contact with Paxos and PayPal.” Earlier, Paxos mistakenly created $300 trillion PayPal stablecoins https://www.theinformation.com/ ... [image]
Decrypt
Paxos says it “mistakenly minted” $300T of PayPal's PYUSD stablecoin on October 15 on the Ethereum blockchain and then “burned” the tokens 20+ minutes later
Crypto industry observers were baffled Wednesday afternoon when an on-chain transaction showed that Paxos …
2025-09-13
Tether will try to keep USDT circulating in the U.S., despite launching a new token USAT for US market. Paolo Ardoino told reporters at NYC launch event today that the U.S. stablecoin law allows foreign issuers in certain jurisdictions with comparable rules to offer stablecoins in the U.S., and Tether will pursue this path for USDT
The Block
Tether launches the US-regulated USAT stablecoin and names Bo Hines, the former Executive Director of the White House Crypto Council, as CEO of its new US unit
from a misunderstood/opaque offshore stablecoin to a $169B market leader, now pioneering financial innovation in the U.S. Excited for the Tether America launch event. [image] @cowb...
2024-10-27
Full story from @theinformation : https://www.theinformation.com/ ... [image]
Reuters
Sources: TSMC halted shipments to Chinese chip designer Sophgo, which was co-founded by Bitmain's Micree Zhan, after TSMC chips were found on Huawei AI chips
Taiwan Semiconductor Manufacturing Company (2330.TW) suspended shipments to China-based chip designer Sophgo after a chip …
2024-10-22
Stripe's $1.1 billion acquisition is a remarkable outcome for Bridge. It's also a bet that crypto-based payment will become a reality. Scale AI, for example, already pays its contractor workers abroad using Bridge's technology. Read more: https://www.theinformation.com/ ...
CoinDesk
Stripe announces a finalized deal to buy stablecoin infrastructure company Bridge; Michael Arrington says the deal is worth $1.1B; Bridge has raised $54M
Jamie Crawley / CoinDesk :
2024-07-29
Last crypto pledge from Trump: his government will hold 100% of all bitcoin currently owned by US into the future, as part of strategic national bitcoin stockpile.
CNBC
Trump proposes a strategic national crypto stockpile; Bitcoin 2024 organizers say they were in talks to have Kamala Harris appear, but she ultimately declined
NASHVILLE — Former President Donald Trump said that if he were returned to the White House, he would ensure that the federal government never sells off its bitcoin holdings.
2024-07-28
Last crypto pledge from Trump: his government will hold 100% of all bitcoin currently owned by US into the future, as part of strategic national bitcoin stockpile.
CNBC
Trump proposes a strategic national crypto stockpile; Bitcoin 2024 organizers say they were in talks to have Kamala Harris appear, but she ultimately declined
NASHVILLE — Former President Donald Trump said that if he were returned to the White House, he would ensure that the federal government never sells off its bitcoin holdings.
2023-11-02
Judge is asking jury to stay later tonight so that SBF's lawyer can finish closing remarks today. Jury deliberation will start tomorrow. Meanwhile some in press room already heated up dinner...
The Verge
US v. SBF: in closing statements, the US relied heavily on evidence to argue SBF is guilty and he was “greedy” while SBF's defense managed to make things worse
Mistakes aren't illegal, but fraud is — and Bankman-Fried's lawyers never made his defense land.
2023-10-18
SBF's defense lawyer uncovered one damning detail: Nishad Singh said he borrowed funds from FTX to buy a luxury home in Orcas Island Oct' 22, even after he learned about FTX's misuse of customer funds. He forfeited the home. Live update: https://www.bloomberg.com/... @crypto
The Verge
In cross-examining Nishad Singh, SBF's defense finally picked holes in a US witness, pointing out that Singh used a $3.7M FTX loan of user funds to buy a house
Nishad Singh looks less reliable. Is it enough? … Of Sam Bankman-Fried's alleged co-conspirators, Nishad Singh gave the most emotionally compelling testimony.
2023-10-12
Caroline Ellison testified, in June 2022, she prepared seven versions of Alameda balance sheet and ultimately shared “Alternative 7” to lender Genesis, as directed by SBF The version hid the figure Alameda owed to FTX https://www.bloomberg.com/... @crypto @emilyjnicolle
Bloomberg
US v. SBF: Caroline Ellison says SBF asked her to make false balance sheets to hide debt, he considered offering FTX shares to the Saudi crown prince, and more
Caroline testified that SBF ordered her to use FTX customer funds to cover up for Alameda's losses — and to lie to lenders about it. She was in a “constant state of dread” about t...
2023-08-19
@ZekeFaux tracked down a spam text message he received in NY, which led him to uncover a human-trafficking town in Cambodia, where many Chinese and Vietnamese were forced labor for crypto scam operations https://www.bloomberg.com/...
Bloomberg
An excerpt from the book Number Go Up traces “wrong number” texts to Chinese gangs in Cambodia and Myanmar using forced labor to run pig butchering Tether scams
of human trafficking. Thousands of people across Southeast Asia are lured with the promise of good jobs, then trapped and forced to scam. Zeke Faux / @zekefaux : It turns out peopl...
2023-08-18
@ZekeFaux tracked down a spam text message he received in NY, which led him to uncover a human-trafficking town in Cambodia, where many Chinese and Vietnamese were forced labor for crypto scam operations https://www.bloomberg.com/...
Bloomberg
A book excerpt traces “wrong number” texts to Chinese gangs in Cambodia and Myanmar that use forced labor to run pig butchering scams involving Tether
The mysterious WhatsApp message arrived one night in August 2022, while I was out at a bar with a friend: “Hi David, I'm Vicky Ho don't you remember me?” X: @bw , @bw , @joelwebers...
2023-08-11
Exclusive: Circle has over $1 billion in cash on balance sheet as of end of June. “That's significantly more than we had expected, and allows us to have a lot of staying power as a company to invest,” CEO @jerallaire told us. 1/ https://www.bloomberg.com/... @crypto
Bloomberg
Circle has $1B+ in cash and had $779M in revenue in H1 2023, compared to $772M for all of 2022; USDC in circulation has fallen to ~$26B from ~$45B in January
Yueqi Yang / Bloomberg :
Circle's revenue also surged, helped by rising interest rates, despite a decline in market share against Tether. It had $779 million in revenue in 1H23, already surpassing the $772 million for all of 2022. https://www.bloomberg.com/... 2/ @crypto
Bloomberg
Circle has $1B+ in cash and had $779M in revenue in H1 2023, compared to $772M for all of 2022; USDC in circulation has fallen to ~$26B from ~$45B in January
Yueqi Yang / Bloomberg :
Circle CEO expects more competition from non-crypto firms entering the stablecoin field, such as PayPal. Meanwhile, existing stablecoins that can't meet regulatory standards will be crowded out in next two years, @jerallaire says. 4/ https://www.bloomberg.com/... @crypto
Bloomberg
Circle has $1B+ in cash and had $779M in revenue in H1 2023, compared to $772M for all of 2022; USDC in circulation has fallen to ~$26B from ~$45B in January
Yueqi Yang / Bloomberg :
2023-08-10
The Fed says the program will ensure supervision and allow for innovations. It says “banking organizations are neither prohibited nor discouraged” from providing services to customers of any specific type. https://www.bloomberg.com/... @crypto
CoinDesk
The US Federal Reserve launches a program to oversee banks' crypto activity and further explains how banks need pre-approvals for engaging with stablecoins
The Fed also gives guidelines for state banks to get approval before issuing, holding or transacting in stablecoins. It mentions the OCC already recognizes national banks' authority to use dollar tokens, subject to approval. https://www.bloomberg.com/...
CoinDesk
The US Federal Reserve launches a program to oversee banks' crypto activity and further explains how banks need pre-approvals for engaging with stablecoins
2023-08-09
The Fed also gives guidelines for state banks to get approval before issuing, holding or transacting in stablecoins. It mentions the OCC already recognizes national banks' authority to use dollar tokens, subject to approval. https://www.bloomberg.com/...
CoinDesk
The US Federal Reserve launches a program for overseeing banks' crypto activity and clarifies its pre-approval process for engaging with stablecoins
Fresh crypto guidance from the U.S. central bank doesn't represent a departure from previous policy, but it provides more details on what the Fed expects from banks.
The Fed says the program will ensure supervision and allow for innovations. It says “banking organizations are neither prohibited nor discouraged” from providing services to customers of any specific type. https://www.bloomberg.com/... @crypto
CoinDesk
The US Federal Reserve launches a program for overseeing banks' crypto activity and clarifies its pre-approval process for engaging with stablecoins
Fresh crypto guidance from the U.S. central bank doesn't represent a departure from previous policy, but it provides more details on what the Fed expects from banks.
2023-06-27
An interesting detail from the new #FTX report today: as early as Mar 2022, Alameda CEO Caroline Ellison estimated FTX. com had cash deficit alone of $10b+. This was prior to the collapse of Luna/TerraUSD, which occurred only in May last year https://www.bloomberg.com/... @crypto [image]
CoinDesk
FTX's bankruptcy team says the exchange owed its customers ~$8.7B after commingling and misusing their deposits, and has recovered ~$7B in liquid assets so far
Jesse Hamilton / CoinDesk :
2023-06-17
Tether held securities issued by major state-owned Chinese firms incl. Industrial & Commercial Bank of China, China Construction Bank and Agricultural Bank of China The documents didn't list any debt of China Evergrande Group https://www.bloomberg.com/... 2/@crypto
Bloomberg
NY AG's documents: Tether once counted Chinese companies' securities among its reserves; in July 2022, Tether claimed not to be holding Chinese commercial paper
Bloomberg :