Circle Gears Up for IPO With Bank Hires, Eyes Late April Filing: Report
Circle Internet Financial, the issuer of the USDC stablecoin, is moving closer to an initial public offering (IPO) with plans to file by late April. The company has engaged major financial institutions, including JPMorgan Chase & Co. and Citigroup Inc.,…
FTX to Begin Repaying Creditors on May 30 After 27-Month Bankruptcy Battle
FTX, the cryptocurrency exchange that collapsed in late 2022, is set to commence repayments to its creditors on May 30, 2025. This marks a significant milestone in the company’s prolonged bankruptcy proceedings, which have spanned over two years. Background of…
Sonic Labs Shifts Focus from USD-Pegged Algorithmic Stablecoin to UAE Dirham-Backed Version
Sonic Labs, co-founded by blockchain developer Andre Cronje, has announced a strategic pivot away from its initial plan to launch a USD-pegged algorithmic stablecoin. Instead, the company is now focusing on developing a stablecoin backed by the United Arab Emirates…
Gazprom Launches Blockchain-Powered Digital Financial Assets
Gazprom, Russia’s state-owned oil and gas giant, has entered the digital finance arena by issuing blockchain-based digital financial assets (DFAs) worth 2 billion rubles (approximately $23.5 million). This initiative underscores Gazprom’s commitment to integrating blockchain technology into its financial operations…
South Korean Court Sentences Three Members of Crypto Scam Gang
A South Korean court has sentenced three individuals involved in a cryptocurrency scam that defrauded investors of approximately $416,000. The ringleader received a four-and-a-half-year prison term, while two accomplices were sentenced to lesser terms. This case highlights the increasing vigilance…
Japan to Classify Crypto as Financial Products and Impose Insider Trading Restrictions
Japan’s Financial Services Agency (FSA) is preparing to amend its Financial Instruments and Exchange Act to classify cryptocurrencies as financial products. This regulatory shift will bring digital assets under the same framework as traditional securities, making them subject to insider…
Metaplanet Issues $13M in Zero-Interest Bonds to Expand Bitcoin Holdings
Metaplanet, a Tokyo-based investment firm, has taken another significant step in expanding its cryptocurrency holdings by issuing zero-interest bonds worth ¥2 billion (approximately $13.35 million) to EVO FUND. The company plans to use the proceeds to purchase additional Bitcoin, reinforcing…