More from Crypto & Fintech

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  Russia Targets Unregistered Crypto Services

  Russia's government has introduced a bill to criminalize crypto services operating without a license from the central bank. The proposed law would impose fines up to $4,000 and prison sentences up to seven years for unregistered digital currency activities, especially if conducted by organized groups. This move aims to tighten state control over the crypto sector ahead of the upcoming Digital Currency and Digital Rights law expected in July. The Supreme Court has criticized the bill as premature, but lawmakers are pushing forward to regulate the industry more strictly.

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  Grinex Halts After $15M Crypto Heist

  Grinex, a Kyrgyzstan-based crypto exchange with Russian ties, has suspended operations following a $15 million hack it blames on Western intelligence agencies. The attack targeted Russian users and is described by Grinex as an effort to damage Russia's financial sovereignty. Blockchain researchers confirmed the theft from around 70 wallets, with no clear technical proof linking the perpetrators to Western services. Authorities have been notified, and the incident raises questions about geopolitical cyber warfare and sanctions evasion.

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  Tether Pumps $127.5M into Drift Amid Circle Hack Backlash

  Tether has injected a hefty $127.5 million into crypto platform Drift, signaling a bold move in the competitive crypto landscape. This funding comes as rival Circle faces sharp criticism for its inability to freeze funds following a recent hack, raising questions about security and trust. The move highlights Tether's aggressive expansion strategy and may shift market dynamics. Observers will be watching closely to see how Drift leverages this capital and how Circle responds to the ongoing fallout.

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  Kraken Boosts Crypto Derivatives Power

  Kraken's parent company, Payward, is set to acquire derivatives exchange Bitnomial for up to $550 million in cash and stock. This move secures Payward full access to Bitnomial's unique CFTC licenses, enabling a fully regulated crypto derivatives business in the U.S. The deal, valuing Payward at $20 billion, expands its B2B infrastructure and sets the stage for new U.S. crypto products like spot margin and options trading under strict regulation. The acquisition is expected to close in the first half of 2026, marking a major step in legitimizing and growing the U.S. crypto derivatives market.