NewsBriefs - Binance provides crypto advisory services to governments despite past legal issues

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Binance provides crypto advisory services to governments despite past legal issues

Following a guilty plea for money laundering and sanctions violations in the US, Binance is now advising multiple governments on crypto regulation and developing national digital asset strategies. CEO Richard Teng highlighted Binance's consultancy role, influenced by a more proactive US approach to crypto under President Donald Trump. Despite Binance's legal troubles, which included a large fine and compliance monitoring, Teng noted an organizational shift towards enhanced regulatory compliance, with 25% of its workforce dedicated to these efforts. Countries like Pakistan and Kyrgyzstan are engaging with Binance's services, demonstrating continued trust in their expertise.

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May 7, 1:06 PM Crypto.com

Crypto.com to open new regional office in Washington

Crypto.com announced its plan to establish a new North America regional office in Washington, D.C., strategically positioned near the White House to enhance its public and government affairs efforts within the US. This expansion reflects the company's commitment to the US market as central to its growth strategy and aims to bolster its presence amidst a developing regulatory landscape.

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May 7, 5:59 AM Binance

Bhutan and Binance Pay introduce world's first national crypto tourism payment system

Bhutan has launched the world's first national crypto tourism payment system in collaboration with Binance Pay and DK Bank. This innovative initiative enables tourists to use crypto for all travel-related expenses across Bhutan's tourism ecosystem, including flights, visas, accommodations, and even small purchases at local markets. Over 100 local merchants are already part of this system, allowing for a cardless, cashless travel experience powered by crypto. The system represents a significant step towards digital integration and economic inclusivity, giving even remote businesses in Bhutan the chance to participate in the global economy.

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May 6, 7:47 PM The Block

Bitwise files for NEAR spot ETF with the SEC

Bitwise, a digital asset management firm, has submitted a registration statement to the US Securities and Exchange Commission for a spot NEAR exchange-traded fund (ETF). This NEAR ETF aims to offer investors exposure to the NEAR token through traditional brokerage accounts, similar to Bitwise's spot Bitcoin ETF, without requiring direct ownership of the crypto. This filing follows an initial application in Delaware, marking a strategic move towards the launch of the ETF.

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May 6, 12:55 PM Tether

Tether's Hadron platform integrates Chainalysis for enhanced compliance in tokenization

Tether has integrated Chainalysis' monitoring tools into its Hadron platform, enhancing regulatory compliance for tokenizing real-world assets. Hadron by Tether now features institutional-grade oversight, comprehensive transaction monitoring, and full Know Your Transaction support, positioning it as a secure, compliant marketplace for asset management and token issuance. This collaboration furthers Tether's commitment to security and regulatory adherence, helping transform the platform into a future-proof infrastructure for digital assets.

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May 6, 11:58 AM The Block

IntoTheBlock and Trident merge to launch Sentora with $25 million Series A funding

IntoTheBlock and Trident Digital have merged to create Sentora, a new institutional DeFi platform. Sentora has launched with $25 million in Series A funding led by New Form Capital, joined by Joint Effects, Tribe Capital, and strategic investors such as Ripple and Bankai Ventures. The new platform aims to offer compliance-driven access to DeFi markets, addressing institutional needs with analytics, risk management, and tailored financial services such as tokenization, lending, and hedging.

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May 6, 4:24 AM Cointelegraph

Florida withdraws bills for Bitcoin reserve as Arizona pushes forward

Florida has stopped efforts to establish a state-level Bitcoin reserve by withdrawing House Bill 487 and Senate Bill 550 from legislative consideration. Despite extending the session for budget discussions, these crypto-focused bills failed to advance, contrasting with Arizona's continuing attempts to pass similar legislation.

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May 5, 9:33 PM OpenAI

OpenAI reaffirms nonprofit status, scraps for-profit conversion plans

OpenAI, the creator of ChatGPT, has decided to maintain its nonprofit status, halting its previous plans to transform into a for-profit entity. Instead, the company confirmed it would convert its for-profit business unit into a Public Benefit Corporation (PBC), which would still operate under nonprofit oversight. This decision aligns with OpenAI's foundational principles and ensures continued control by the nonprofit, despite the previously considered shift towards a for-profit model to facilitate funding for advancing AI technologies.

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May 5, 2:02 PM Chainlink

Chainlink partners with Space and Time to launch Chainlink Rewards Season Genesis

Chainlink introduces Chainlink Rewards, a program designed to boost engagement within the Chainlink Network by making native tokens from Chainlink Build projects claimable for ecosystem participants. The first initiative under this program, Season Genesis, starts on May 8, 2025, with Space and Time offering 100,000,000 SXT tokens to eligible LINK Stakers. This pilot phase will help gauge the feasibility of a broader token claiming mechanism involving multiple Chainlink Build projects in the future.

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May 5, 9:38 AM Bitcoin Sistemi

Tether launches new AI project with crypto payment integration

Tether has launched an open source AI initiative called Tether AI, led by a runtime product named Personal Infinite Intelligence, capable of operating on any hardware. The platform promotes decentralized, hardware-independent AI systems and eliminates the need for centralized API keys. A standout feature of this AI system is its support for native crypto payments, such as USDT and Bitcoin, fostering the convergence of AI and decentralized finance. Tether's venture into AI extends its recent expansion into new sectors, including renewable energy and education.

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May 5, 5:41 AM Cointelegraph

OKX relaunches DEX aggregator with enhanced security after Lazarus Group misuse

OKX has reactivated its decentralized exchange (DEX) aggregator, OKX Web3, with significant security upgrades after a temporary shutdown due to misuse by the North Korean hacking group, the Lazarus Group. The platform now features a real-time abuse detecting and blocking system, enhanced onchain analysis tools, and a dynamic database to identify and block suspect addresses. These measures aim to prevent fraudulent activities, backed by audits from blockchain security firms like CertiK, Hacken, and SlowMist.

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May 2, 11:12 AM Bitcoin Sistemi

FinCEN proposes ban on Huione for alleged money laundering linked to North Korean hackers

The US Financial Crimes Enforcement Network (FinCEN) has proposed banning Cambodia-based Huione from the US financial system due to allegations of money laundering and connections to North Korean hacker groups. Huione allegedly laundered over $4 billion earned from cybercrimes, heavily involving cryptocurrencies. The National Bank of Cambodia also revoked Huione's banking license, enforcing a local ban on digital asset transactions.

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May 2, 3:00 AM Movement Labs

Movement Labs suspends co-founder Rushi Manch amid ongoing investigation

Movement Labs has suspended co-founder Rushi Manche following an ongoing investigation by Groom Lake into governance and incidents with a market maker. Concurrently, Coinbase announced it will cease trading of Movement's MOVE token on May 15 due to the token not meeting its listing standards after a routine review. Following these developments, the price of MOVE dropped to a record low, further impacted by controversies involving alleged token manipulation by the market maker and internal disputes within Movement Labs.

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May 1, 10:35 PM Pixels

Pixels introduces $PIXEL staking to foster player engagement across its gaming ecosystem

Pixels has launched $PIXEL Staking, enabling players to stake tokens in various games within its ecosystem including Core Pixels, Forgotten Runiverse, and Pixel Dungeons. This new system allows players to earn rewards linked to game success and influence future developments through a stake-to-vote mechanism. The $PIXEL PopRank system rewards games with more staking support and player engagement, boosting their visibility and share of ecosystem rewards. With phased rollouts planned, Pixels aims to build a decentralized, data-driven publishing ecosystem, enriching player engagement and expanding its play-to-earn model.

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May 1, 3:32 PM The Block

Tether reports $120 billion Treasury exposure and $1 billion Q1 profit

Tether announced its total exposure to US Treasurys nearly reached $120 billion at the end of March, with $99 billion as direct exposure. The company, issuer of the stablecoin USDT, revealed over $1 billion in operating profit from traditional investments for the quarter. Additionally, Tether is diversifying its investments, including $2 billion in long-term initiatives in emerging technologies, while operating under new regulatory supervision in El Salvador.

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May 1, 12:15 PM The Block

21Shares files for spot Sui ETF and announces strategic partnership with Sui network

21Shares has filed an S-1 registration statement with the SEC to launch a spot Sui ETF in the US, offering direct exposure to SUI tokens, with assets held in custody by Coinbase. The ETF will not engage in staking but will allow share redemptions and creations in cash. Alongside this ETF, 21Shares announced a strategic partnership with the Sui network, focusing on global expansion and product collaborations. This ETF and partnership underscore a heightened institutional interest in the Sui ecosystem.

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