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In brief Prosecutors said the scheme used social media, dating platforms and spoofed trading sites to build trust before extracting funds, a tactic known as “pig butchering.” At least $73.6 million in victim funds was routed through bank accounts and U.S. shell companies before being converted into crypto, court filings show. U.S. authorities said the operation was run from scam centres in Cambodia and involved multiple co-conspirators, eight of whom have pleaded guilty. A U.S. court sentenced a crypto scam organizer to 20 years in prison for his role in a $73 million global fraud and laundering scheme, even as…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Federal Reserve (Fed) Governor Christopher Waller said on Monday that progress on the long‑anticipated crypto market structure legislation, commonly referred to as the CLARITY Act, appears to have stalled in Congress.  His remarks come as lawmakers remain divided over key issues, most notably stablecoin yield provisions and the Federal Reserve’s proposal for so‑called “skinny” master accounts, a topic earlier highlighted by Crypto In America. Stablecoin Yield Fight Fuels CLARITY Act Stalemate Waller’s comments quickly drew reaction from market observers. Crypto analyst MartyParty noted on X that the…

In brief Fintech trade groups back a proposal for limited Fed payment access for non-bank firms. Banks warn the plan could raise run risk and aid stablecoin or crypto-linked models. The proposal revives disputes over who should access the Fed’s core payment infrastructure. Financial technology trade groups, led by the American Fintech Council, are urging the Federal Reserve to move forward with a plan that would give certain non-bank financial firms direct access to U.S. payment rails.“A well-designed payment account can expand competition and responsible innovation in payments without introducing new risk,” Phil Goldfeder, CEO of the American Fintech Council,…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Ripple has been slotted into the global top 10 of the most valuable private companies at an estimated $50 billion valuation, according to a widely shared “unicorn companies” table circulating on X. The ranking matters because it reframes Ripple less as a single-token narrative and more as a scaled private-market franchise: a payments infrastructure firm that, at least in secondary valuation terms, is now being discussed in the same breath as the largest AI and fintech “super-unicorns.” Ripple Ranks #9 Among World’s Largest Private Companies The image…

In brief OpenAI kicked off a limited U.S. ad test for free and Go tier users. The company says ads are labeled, separate from chatbot responses, and won’t affect answers. The monetization shift comes amid mounting losses and rising competition from companies like Google and Anthropic. OpenAI started testing advertisements in ChatGPT on Monday, just hours after rival Anthropic ran Super Bowl commercials mocking the very idea of ads in AI assistants.“We’re starting to roll out a test for ads in ChatGPT today to a subset of free and Go users in the U.S,” OpenAI said in an official announcement.…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Japan’s snap election delivered a decisive mandate for Prime Minister Sanae Takaichi, triggering an immediate rally across equities, foreign exchange, and crypto markets. The Nikkei 225 surged to record highs above 57,000, the yen weakened sharply, and Bitcoin briefly climbed past $72,000 during Asian trading hours. Related Reading: Arthur Hayes Puts $100K On Hyperliquid (HYPE) Outrunning Every $1B+ Altcoin At first glance, the reaction looked like a classic risk-on move driven by expectations of fiscal stimulus and policy continuity. But beneath the rebound, a different dynamic is…

In brief Research published on the Harvard Business Review found that AI is accelerating work, not reducing it. Productivity gains are morphing into burnout and workload creep. The real shift isn’t job loss—it’s work intensification and reorganization. A new study published in Harvard Business Review this week confirmed what many workers already suspected: AI tools don’t reduce work, they intensify it.The study cited data from UC-Berkeley and Yale, collected during eight months of embedded research at a 200-person tech company, where employees voluntarily adopted AI tools.The results showed distinct patterns of work intensification that quietly snowballed into what researchers call…

In brief Bitcoin miner Cango (CANG) sold 4,451 BTC or about $305 million worth this weekend. The firm used the proceeds to repay a BTC-backed loan and clean its balance sheet as it expands into AI. Shares are down around nearly 3% on the day, and 62% over the last six months. Publicly traded Bitcoin miner Cango (CANG) parted ways with 4,451 BTC this weekend, raising approximately $305 million as it aims to fuel its expansion into providing compute power for the artificial intelligence (AI) boom.The firm used all of the proceeds to repay a portion of a Bitcoin-collateralized loan. “The…

Federal Reserve Governor Christopher J. Waller downplayed risks from bitcoin and broader crypto markets on Monday, arguing that digital assets remain largely disconnected from the traditional financial system even as the technology behind them moves into the mainstream. Speaking at an event hosted by the Global Interdependence Center, Waller framed crypto markets as an extension and competition of everyday commerce rather than an entirely new phenomenon.  His comments come as crypto markets continue to grapple with regulatory uncertainty in Washington and recurring bouts of volatility that have shaped investor sentiment for years. While bitcoin has become more embedded in institutional…

In brief Beast Industries, MrBeast’s holding company, is acquiring Step, a mobile banking platform for teenagers and young adults with FDIC insurance through Evolve Bank & Trust. Step has raised $491 million from high-profile investors including Stephen Curry, Justin Timberlake, Will Smith, and The Chainsmokers. The acquisition follows 2025 trademark filings hinting at MrBeast’s interest in crypto exchanges and financial products, now materializing through teen-focused banking. Beast Industries, a financial entity tied to YouTube star MrBeast, has agreed to acquire fintech startup Step for an undisclosed amount.Beast Industries is the holding company behind MrBeast’s consumer brands, including packaged snack brand…

In brief Polymarket has sued Massachusetts in federal court, arguing the state lacks authority to regulate prediction markets. Courts in Massachusetts and Nevada have moved to temporarily ban sports-related prediction markets. The fight has escalated into a federal-state showdown. Polymarket went on the offensive Monday in the ongoing battle of prediction markets against Massachusetts regulators, claiming in a federal lawsuit that the state lacks authority to regulate its platform.Last month, a Massachusetts judge gave a green light to regulators seeking to temporarily ban Polymarket rival Kalshi from offering sports markets in the state. On Friday, the court issued an order…

Ripple is working to make decentralized finance more familiar to regulated institutions and is placing XRP at the center of that effort.DeFi’s earlier growth cycles were built around open, retail-facing liquidity pools and the associated risk tolerance. Total value locked across major protocols climbed into the tens of billions of dollars and, at previous peaks, surpassed $100 billion.Ripple’s pitch is that the next phase will be shaped less by permissionless pools and more by controlled access, compliant settlement, and tokenized cash and collateral that institutions can recognize as market infrastructure.In a February blueprint, Ripple described an institutional DeFi stack on…

In brief Publicly traded Bitcoin treasury firm Strategy spent $90 million to purchase 1,142 Bitcoin last week. The company now holds nearly $50 billion in Bitcoin, but its holdings are worth less than the firm spent on them. Bitcoin is down over 23% over the last month, recently trading near $69,000. Strategy, the world’s largest Bitcoin treasury company, announced Monday that it bought even more BTC last week even as its nearly $50 billion stash remains underwater following last week’s crypto market plunge.The firm purchased an additional 1,142 Bitcoin last week, currently valued around $79.3 million worth—though that purchase has…

Bitcoin Price Weekly Outlook Well, that escalated quickly! The bitcoin price just melted all the way through the $70,000s and $60,000s last week, but finally found its footing at $60,000. The bulls battled back from down there to push the price back up to $71,700 before it moved back slightly to close the week out at $70,315. The bears covered a lot of ground to the downside last week, so the bulls will try to get back some ground this week. Expect $60,000 support to hold at least into this week. Key Support and Resistance Levels Now With such a…

Financial giant Piper Sandler is constructive on equities amid concerns about an artificial intelligence bubble and a soft labor market, according to one of the firm’s top executives. Michael Kantrowitz, the investment bank’s chief investment strategist, tells CNBC in a new interview that the equities market is witnessing its first broadening in about four years. “I think why we’re climbing these worries – the macro data and the breadth of earnings data are the ladder that is helping us climb a lot of these concerns. And I think those concerns are being manifest in the rotation in the market we’re…