Quick Summary: Brazil’s new Law No. 15.358 lets authorities seize cryptocurrency used in crimes and redirect the funds toward public security measures. Brazil has granted its public security agencies a new tool in the fight against organized crime, after national legislators approved legislation permitting the use of confiscated cryptocurrency to fund law enforcement efforts. The measure was published on Wednesday as Law No. 15.358, establishing a formal legal framework for combating organized crime in the country. The law enables authorities to treat digital assets as instruments of crime and block transactions on crypto exchanges accordingly.Under the legislation, any asset used…
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Quick Summary: Bitcoin dropped over 3% Thursday while major altcoins fell 4%-5% as fading hopes for Middle East de-escalation pressured risk assets. Bitcoin declined more than 3% on Thursday as broader risk sentiment weakened across financial markets. Major altcoins including Ethereum, XRP, Solana, and Cardano posted steeper losses, each falling between 4% and 5%. The selloff reflects growing unease among investors as geopolitical developments continue to shape market direction.Fading expectations of de-escalation in the Middle East were cited as a primary driver behind the downturn. As hopes for a resolution dimmed, traders moved away from riskier assets, pulling capital out…
Quick Summary: DRW CEO Don Wilson says institutional firms will avoid public blockchains, preferring private systems that protect trading strategies and limit exposure. Don Wilson, founder and chief executive of trading firm DRW, argues that major Wall Street institutions are unlikely to embrace fully transparent public blockchains. He contends that open ledgers are fundamentally at odds with how large financial firms manage risk and safeguard their trading strategies. The core tension, in his view, lies between the transparency that public blockchains offer and the confidentiality that institutions require.Wilson points to fiduciary duty as a central concern, suggesting that publishing every…
Quick Summary: JPMorgan reports gold and silver prices have fallen sharply due to ETF outflows and profit-taking, while Bitcoin sees net inflows and stabilizing momentum. JPMorgan has reported a notable divergence between cryptocurrency and precious metals markets, with gold and silver experiencing sharp price declines while Bitcoin demonstrates relative strength. The bank attributes the metals selloff to a combination of accelerating ETF outflows and widespread profit-taking among investors. This shift marks a meaningful change in the comparative performance of these asset classes.Gold and silver have both come under significant pressure, with liquidity conditions in the gold market deteriorating to levels…
Quick Summary: Brazil’s newly signed Anti-Gang Law allows judges to seize, freeze, and potentially liquidate digital assets as part of efforts to financially dismantle organized crime. Brazilian President Luiz Inácio Lula da Silva has signed a sweeping new anti-crime measure into law, granting authorities expanded powers to target the financial infrastructure of organized criminal groups. The legislation, known as the Anti-Gang Law, introduces stricter penalties for crime leaders and provides the state with tools for what officials describe as the financial, logistical, and material dismantling of criminal organizations. The law marks a significant shift in how Brazil approaches the prosecution…
Quick Summary: The UK has sanctioned Xinbi, one of Southeast Asia’s largest illicit marketplaces, for providing crypto services to scam centres exploiting trafficked workers. The UK government has imposed sanctions on Xinbi, identified as one of the largest illicit marketplaces in Southeast Asia, over its role in supplying cryptocurrency-based services to scam centres that defraud victims globally while relying on trafficked labour. The platform is accused of selling stolen personal data used to target scam victims, as well as satellite internet equipment used to contact them. UK authorities say the sanctions will cut Xinbi off from the legitimate crypto ecosystem…
Quick Summary: The New York Stock Exchange is integrating blockchain into existing infrastructure, focusing on tokenization and faster settlement rather than replacing legacy systems. The New York Stock Exchange is moving toward incorporating blockchain technology into its current market infrastructure, rather than overhauling traditional systems entirely. The exchange’s approach centers on interoperability, meaning blockchain tools would work alongside existing mechanisms rather than supplant them. This positions the NYSE as favoring gradual adoption over a wholesale shift to decentralized systems.Jon Herrick, the exchange’s chief product officer, outlined the strategy, highlighting tokenization as a key area of focus. Specific use cases under…
Quick Summary: Coinbase has partnered with Better Home & Finance to let borrowers pledge crypto assets as collateral for loans covering mortgage down payments. Coinbase Global has launched a new mortgage structure in partnership with Better Home & Finance that allows qualified borrowers to pledge digital assets held in Coinbase accounts as collateral to fund down payments on home loans. The primary mortgage remains a standard conforming loan structured in line with Fannie Mae guidelines, while Better will originate and service the mortgages. Assets eligible for collateral include Bitcoin and USDC, among other digital holdings.Under the arrangement, borrowers take out…
Quick Summary: MARA Holdings sold roughly 15,000 BTC for $1.1 billion to repurchase convertible debt at a 9% discount, reducing dilution risk and strengthening its balance sheet. MARA Holdings, one of the largest Bitcoin mining companies in the United States, announced Thursday that it sold approximately 15,000 BTC for $1.1 billion. The proceeds were used to repurchase a portion of its convertible debt, a move the company described as improving its overall financial position. The sale represents 28% of MARA’s total Bitcoin holdings, leaving the Miami-based firm with around 38,700 Bitcoin remaining. At a price of roughly $69,000 per coin…
Quick Summary: Tether has expanded its gold-backed token XAUT to BNB Chain, giving hundreds of millions of users access to the largest tokenized gold product by market cap. Tether has announced the launch of its gold-backed token XAUT on BNB Chain, broadening access to what is currently the largest tokenized gold product available on the market. XAUT holds a market capitalization of nearly $2.5 billion, representing close to half of the total tokenized gold market, which stands at approximately $5.3 billion according to data from CoinGecko. The nearest competitor, Paxos’ PAX Gold, carries a market cap of around $2.3 billion.XAUT…
