Author: Isabella Taylor

Tether has moved closer to a full financial review of USDT as it prepares for wider regulatory scrutiny in the United States.  Summary Tether hired KPMG for its first full USDT audit and engaged PwC to prepare systems. The audit would review assets, liabilities, and controls beyond the reserve attestations issued since 2022. Tether’s audit push comes as it weighs US expansion and a possible major equity raise. The step follows a report that the company hired KPMG for its first full audit and brought in PwC to help organize its internal systems ahead of that process. The Financial Times…

US spot Bitcoin exchange-traded funds posted their largest daily outflows in weeks on Thursday, as Bitcoin fell below $70,000 and market risk stayed elevated.  Summary US spot Bitcoin ETFs recorded $171 million in outflows, the largest daily withdrawal since March 3. BlackRock, Fidelity, ARK, and Grayscale led withdrawals as Bitcoin dropped below the key $70,000 level. Despite Thursday outflows, US spot Bitcoin ETFs still attracted $1.36 billion in March net inflows. The sell-off came after a strong month for US-listed Bitcoin ETFs, which had already attracted fresh capital in March. US spot Bitcoin ETFs recorded $171 million in net outflows…

GameStop said it did not sell the 4,709 Bitcoin tied to its January balance sheet change.  Summary GameStop pledged 4,709 BTC with Coinbase Credit and kept economic exposure instead of selling outright. The covered-call strategy generated premium income but capped upside if Bitcoin rises above strike prices. GameStop reclassified the pledged Bitcoin and recorded digital asset receivables on its balance sheet. Instead, the company used the holdings in a covered-call arrangement with Coinbase Credit, according to its latest annual filing. GameStop’s latest 10-K filing showed that the company still kept exposure to the Bitcoin it bought in 2025. The filing…

Binance Australia Derivatives has been ordered to pay a A$10 million civil penalty after Australia’s Federal Court found failures in how the platform classified clients for crypto derivatives trading.  Summary Australia fined Binance A$10 million after 524 retail clients were wrongly classified as wholesale investors. ASIC said Binance let users retry quizzes without limits, weakening checks for complex derivatives access. Binance had already paid A$13.1 million in compensation before the court imposed the new penalty. The ruling adds to earlier compensation paid to affected users and comes as Binance faces pressure in other markets in the region. The Australian Securities…

Vietnamese authorities have opened a wide fraud case tied to the ONUS crypto ecosystem after detaining several suspects and accusing them of using token promotions and controlled trading to take investor funds.  Summary Vietnam detained ONUS-linked suspects after police alleged token promotions and market control were used deceptively. Authorities said the case involved VNDC, ONUS, and HNG tokens promoted through the platform directly. Vemanti said it hired US legal counsel after reports named two board members in indictments. The case puts fresh focus on crypto enforcement in one of the world’s busiest retail digital asset markets. Vietnam’s Ministry of Public…

Two Chinese container ships linked to Cosco briefly moved toward the Strait of Hormuz on Friday before turning back near Iranian waters, adding to market concern over shipping access in the Gulf.  Summary Two Chinese-linked ships turned back near Hormuz as Iran enforced stricter control over vessel movements. Iran warned certain ships against transit, calling the strait closed to its stated enemies. Bitcoin and Ethereum fell as geopolitical tension increased and uncertainty spread across global financial markets. Meanwhile, the moves came as Iran’s Revolutionary Guard repeated that traffic tied to countries aligned with the United States and Israel would not…

Ripple CEO Brad Garlinghouse said stablecoins may become the main way businesses enter the crypto sector as companies seek faster payment tools.  Summary Garlinghouse said CFOs and treasurers are weighing stablecoins for faster business payments and treasury use. Bloomberg Intelligence projected stablecoin flows could reach $56.6 trillion by 2030, supporting broader payment adoption. Ripple’s RLUSD ranks tenth by market cap as the company expands infrastructure through major acquisitions. He told FOX Business that more boards, treasurers, and chief financial officers are now asking how stablecoins could fit into company operations. Garlinghouse said stablecoins could become crypto’s “ChatGPT moment” for businesses.…

P2P.me said it traded on a Polymarket contract tied to its own fundraising round before the raise went live.  Summary P2P.me opened Polymarket positions before its fundraising launch and admitted the disclosure delay was wrong. The project raised $5.2 million, missed its $6 million target, and the market resolved no. US lawmakers and prediction platforms are tightening rules as insider trading concerns spread wider now. The disclosure adds fresh attention to insider trading risks on prediction markets as US lawmakers and platforms move to tighten rules. The team behind the decentralized trading platform said it opened positions on Polymarket 10…

Firelight said it is preparing an on-chain protection layer backed by staked XRP as DeFi projects face renewed security pressure.  Summary Firelight surpassed 50 million staked XRP after whale deposits and expanded capacity for FXRP vaults. The protocol plans a Q2 protection layer covering smart contracts, bridges, oracles, and economic failures. Firelight said exploit losses topped $137 million in Q1 as demand rose for on-chain protection. The plan follows a new milestone for the protocol, which said staked XRP on Firelight has now passed 50 million on Flare. According to a press release, Firelight crossed 50 million staked XRP after…

Top trending stories this week were centered on politics, market stress, geopolitics, memecoin chatter, and yield-focused positioning.  Summary David Sacks moved to a broader advisory role as crypto traders tracked shifting Washington influence. Risk-off selling, Circle worries and oil gains kept traders focused on market positioning this week. Memescope Monday and cash-yield strategies showed traders balancing viral hype with capital preservation this weekend. Santiment social data showed that traders entered the weekend watching David Sacks’ White House transition, a fresh risk-off selloff, new tech security fears, “Memescope Monday,” and a broader move toward cash and income strategies. David Sacks transition…