Category: Fiat

CFPB Sues Capital One Over Misleading Savings Accounts

The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Capital One, the ninth-largest bank in the United States, accusing it of deceptive practices that allegedly cost customers billions in unpaid interest. The CFPB claims that Capital One misled millions of customers by promoting its 360 Savings account as offering some of the highest […]

Banks Cleared to Custody Bitcoin After Rule Change

Michael Saylor, executive chairman of MicroStrategy, revealed that banks can now legally custody Bitcoin (BTC) following the repeal of the controversial SAB 121 rule. The rule, outlined in an earlier SEC accounting bulletin, required companies engaged in crypto custody to list digital assets as liabilities on their balance sheets. This mandate made it financially unfeasible […]

Riot Platforms Shifts Focus from Bitcoin Mining to AI and HPC

Listed cryptocurrency miner Riot Platforms has announced a strategic pivot from Bitcoin mining to exploring opportunities in artificial intelligence (AI) and high-performance computing (HPC). The company plans to utilize approximately 600 megawatts (MW) of unused power capacity for these applications. This decision has led Riot to pause its Phase II Bitcoin mining expansion at the […]

Binance Expands Services to Uzbekistan

In a major announcement, Binance, the world’s leading cryptocurrency exchange, has revealed that it is now offering services to residents of Uzbekistan. This expansion is made possible through a partnership with the National Agency of Perspective Projects (NAPP), a regulatory body in the Republic of Uzbekistan. The agreement reinforces Binance’s commitment to creating a secure […]

Ripple Eyes XRP ETF Approval in 2025

Amid the growing popularity of Ripple’s stablecoin, RLUSD, Ripple President Monica Long has expressed confidence that an XRP Spot ETF could be the next major cryptocurrency investment product approved in the United States. Long highlighted the upcoming administration change as a key factor that could accelerate regulatory approval. Her remarks come at a time of […]

BlackRock Bitcoin ETF Sees Record Outflows

On January 2, BlackRock’s iShares Bitcoin Trust (IBIT) experienced record-high outflows, with $333 million withdrawn in a single day, according to data from Farside Investors. This marks the largest outflow ever reported for the spot Bitcoin exchange-traded fund (ETF). Alex Obchakevich, founder of Obchakevich Research, attributed the significant outflows to early-year profit-taking. “At the end […]

Chinese APT Breach at U.S. Treasury

The U.S. Treasury fell victim to a significant cyberattack earlier this month, allegedly orchestrated by a Chinese state-sponsored Advanced Persistent Threat (APT) group. The attack, which exploited vulnerabilities in third-party software, allowed the threat actor to access unclassified documents from employee workstations. According to a Dec. 30 letter from Aditi Hardikar, Assistant Secretary for Management […]

Russia Moves Toward Mandatory Digital Ruble Adoption

A significant legislative move has been made in Russia’s State Duma, proposing mandatory adoption of the digital ruble, the nation’s central bank digital currency (CBDC). Spearheaded by Anatoly Aksakov, head of the Duma Committee on Financial Markets, the bill sets out a phased plan to modernize Russia’s payment ecosystem. Key Features of the Bill Implementation […]