BitcoinKE

Web3 projects lost $482 million to hacks and scams in the first quarter of 2026 with phishing and social engineering emerging as the dominant attack vectors, according to a report by blockchain security firm, Hacken.

The report recorded 43 separate incidents during the quarter with a shift away from billion-dollar “mega hacks” toward a higher number of mid-sized breaches.

Phishing-related attacks accounted for the bulk of losses at $306 million, driven largely by a single $282 million hardware wallet scam in January 2026 that made up more than 80% of the total damage.

Losses from smart contract exploits reached $86.2 million, while access control failures, including compromised private keys and cloud infrastructure breaches, contributed a further $71.9 million.

6 audited projects accounted for $37.7 million in losses – a higher average loss ($6.3 million) than unaudited projects ($4.3 million).

The quarter was also a turning point for security compliance. According to the report:

Q1 2026 is an inflection point: regulators worldwide moved from writing rules to enforcing them. The EU’s MiCA and DORA frameworks entered active enforcement.

The U.S. signed its first federal stablecoin law. Dubai restructured its entire federal crypto oversight. Singapore began enforcing Basel capital standards for crypto exposures. Across all jurisdictions, one theme dominates: regulators now demand that crypto firms demonstrate effective, ongoing security management – not paper compliance.

 

Despite the scale of losses, the quarter ranked among the lowest first-quarter totals since 2023, largely due to the absence of a major incident comparable to the $1.46 billion Bybit hack recorded in Q1 2025.

Hacken noted a growing trend in which the most costly failures are occurring outside of smart contract code instead stemming from operational weaknesses and human factors that traditional audits often fail to capture. This is because audited projects hold more value and attract more sophisticated attackers targeting vulnerabilities outside audit scope.

2025 RECAP | Bridges Accounted for ~50%+ of Laundered Hack Value in 2025

 

 

 

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South Korea has fined cryptocurrency exchange Coinone about $3.5 million and ordered a three-month partial suspension of its operations over anti-money laundering (AML) failures, according to local reports.

The country’s Financial Intelligence Unit (FIU) said the exchange violated key AML and know-your-customer (KYC) requirements, including failing to properly verify around 70,000 user accounts and allowing trading activity without completed identity checks.

Coinone was also found to have violated the customer due diligence obligation under the Act on Reporting and Using Specified Financial Transaction Information in about 40,000 cases.

The Financial Services Commission uncovered 90,000 violations of the Act on Reporting and Using Specified Financial Transaction Information by Coinone.

The FIU determined that Coinone violated 30,000 cases of the transaction restriction obligation by not restricting transactions by customers whose customer verification measures had not been completed.

REGULATION | South Korea Imposes the Largest Fine on a Local Crypto Exchange Following AML Compliance Deficiencies

Regulators also found that Coinone processed 10, 113 transactions involving 16 overseas crypto platforms that were not registered with South Korean authorities, despite prior warnings.

As part of the sanctions, Coinone will be barred from onboarding new customers and restricting certain deposit and withdrawal services for three months, starting in late April 2026. Existing users will still be able to trade on the platform.

The FIU also issued an official reprimand to CEO, Cha Myung-hoon. The exchange has been given time to respond and may challenge the decision.

The enforcement action is the latest in a broader regulatory crackdown on crypto exchanges in South Korea, as authorities tighten oversight of AML compliance across the sector.

REGULATION | South Korea Tightens Crypto Exchange Controls with 5-Min Reconciliations and Kill Switches After Bithumb Incident

 

 

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The U.S. Department of Justice has launched a compensation process for victims of the OneCoin cryptocurrency fraud, marking a new phase in efforts to return funds from one of the largest scams in crypto history.

The program will distribute more than $40 million in assets seized from individuals linked to the scheme, which defrauded investors of over $4 billion globally between 2014 and 2019.

 

“Between 2014 and 2019, OneCoin’s founders sold a lie disguised as cryptocurrency, costing victims more than $4 billion worldwide,” said U.S. Attorney Jay Clayton for the Southern District of New York.

“Today’s announcement marks an important step toward returning funds to those harmed. While no recovery can fully undo the damage, our Office will continue working to seize criminal proceeds and prioritize getting money back into the hands of victims. If you believe you may be a victim of OneCoin, you may obtain a petition form online at www.onecoinremission.com.”

 

Eligible claimants include individuals who purchased OneCoin during that period and recorded a net loss. Victims must submit a petition, along with supporting documentation, by June 30, 2026, to be considered for compensation.

#FTX Creditor Motion to Limit Crypto Payouts to 49 Foreign Jurisdictions, Including Africa, Withdrawn

Some of the African countries affected by this restriction include:

* Nigeria * Egypt * Zimbabwe https://t.co/TRdefJij3X pic.twitter.com/n948MHaKki

— BitKE (@BitcoinKE) November 4, 2025

The Justice Department said the funds come from criminal forfeitures tied to prosecutions in the Southern District of New York, where several figures involved in the scheme have already been convicted.

“The victims of the OneCoin scheme were misled and financially devastated by promises that were never real,” said Special Agent in Charge Jenifer L. Piovesan of IRS-CI.

“Alongside our law enforcement partners, we worked tirelessly to trace illicit funds and recover them for victims. This compensation process represents a critical step toward returning stolen assets to those who were deceived. IRS-CI remains steadfast in its mission to follow the money and dismantle complex financial fraud schemes like OneCoin.”

 

OneCoin, founded in 2014 by Ruja Ignatova and Karl Sebastian Greenwood, was marketed as a rival to Bitcoin but was later exposed as a fraudulent operation with no real blockchain infrastructure. The scheme attracted millions of investors worldwide before collapsing under regulatory scrutiny.

Before it collapsed, OneCoin rose to become the second-largest cryptocurrency by market capitalization.

[WATCH] FBI Offers $100,000 for Most Wanted Crypto Fugitive, ‘CryptoQueen’ – Founder of OneCoin

Officials said the compensation process is intended to return a portion of recovered proceeds to victims though full recovery of losses remains unlikely.

 

However, the investigations to recover the remaining funds continues:

“The victim losses accrued in this case are monumental,” said Assistant Director in Charge James C. Barnacle Jr of the FBI New York Field Office.

“Misled by falsified statements and empty promises, many unknowingly depleted their savings for a fraudulent investment scheme in an emerging financial ecosystem that would never pay out. With the unwavering support from the Department of Justice, the FBI maintains its commitment to returning these stolen funds to their rightful owners.

Our office will continue its investigative pursuit of these criminal fraudsters – especially locating Ruja Ignatova, an FBI Top Ten Fugitive — alongside our partners at the Internal Revenue Service Criminal Investigation (IRS-CI) and the Southern District of New York.

Any information concerning this fugitive can be submitted online at tips.fbi.gov or via our tipline at 1-800-CALL-FBI.”

 

NB:

Neither the Remission Administrator nor the Department of Justice will ask for any payment to participate in this remission process. Please be cautious of any individual or organization claiming to represent the Remission Administrator or the federal government in this matter. If you are a victim, any communications will come directly from the Remission Administrator or from government representatives with whom you have already had contact.

 

Bulgarian Crypto Queen, Founder of OneCoin, Allegedly Not Dead, Hiding in Cape Town, South Africa

 

 

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Few figures have been as closely associated with the rise of the cryptocurrency industry as Binance, Co-Founder, Changpeng Zhao (CZ).

In his new memoir, Freedom of Money, A Memoir of Protecting Users, Resilience, and the Founding of Binance, CZ offers a candid account of the early days of crypto, the rapid explosion of Binance, and the personal consequences of building at the centre of one of the fastest moving industries in modern finance.

Available globally from April 8, 2026 on Amazon Kindle and Paperback, Freedom of Money traces CZ’s journey from his early life and unconventional path into technology through the founding and rapid growth of Binance during a period when the cryptocurrency industry was expanding at unprecedented speed.

Part memoir and part reflection on the evolution of digital assets, the book offers readers a builder’s perspective on what it was like to grow a global platform in a new industry where the rules were still being written.

 

“While many people congratulated me on being number one, something else gave me more satisfaction,” CZ writes in the book.

“I was getting messages from users all around the world thanking us for providing them with financial access or even financial freedom.”

 

The memoir also reflects on the challenges that came with building at such speed, including

the pressures of scaling a global company,

regulatory scrutiny as the industry matured, and

CZ’s personal experience serving a four month sentence in a U.S. federal prison.

 

“This memoir is not a sanitized corporate story,” CZ said.

“It reflects on what it was like to build during a time when the crypto industry was still taking shape – the successes, the mistakes, and the lessons that came from both.”

 

Alongside the events that defined CZ’s career, Freedom of Money explores broader themes of money, technology and responsibility, and how his views on financial freedom have evolved over time.

REPORT | Binance Dominated Crypto Services in 2025, Reveals CloudFlare 2025 Year-in-Review Report

Reflecting on a Defining Period in Crypto

Over the past decade, Binance has played a significant role in the growth of the digital asset ecosystem, helping support the development of infrastructure used by millions of users globally.

Freedom of Money provides CZ’s personal perspective on that period of rapid innovation and expansion in the cryptocurrency industry.

 

Richard Teng, Co-CEO of Binance, said:

“The story of Binance is closely tied to the early evolution of the crypto industry.

Freedom of Money offers a founder’s perspective on the challenges and opportunities that shaped digital assets during their formative years.”

 

Yi He, Co-Ceo of Binance, added:

“The early days of crypto were fast-moving and full of possibility, even if not always fully understood.

This book captures the energy of building in that moment and the incredible progress the industry has made since.”

 

Rachel Conlan, Chief Marketing Officer at Binance, said:

“For many people, the story of crypto has been told through headlines and market cycles.

What this book offers is a first person account from someone who helped build the infrastructure behind the industry’s growth.

 

Availability

Freedom of Money is available globally 08 April 2026 on Amazon Kindle and Paperback.

The book is published in English and Chinese, with additional translations under consideration.

All proceeds from CZ’s authorship of the book will be donated to charity.

STABLECOINS | Binance Dominates Over 60% of All Centralized Stablecoin Liquidity

 

 

 

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As Flutterwave continues beta-testing its stablecoin infrastructure with a select group of merchants, the leading African fintech has also been sharing how stablecoins actually solve the grit and grind of moving money across Africa for individuals and businesses.

The company says that by watching how digital dollars move in the wild, it has been able to uncover the real operational nuances to refine its logic for final payments and simplify the experience for first-time users.

 

In one use case, the fintech has revealed that USDC, a regulated stablecoin, is being used to settle payments almost instantly by a UK-based e-commerce platform selling African foodstuffs from suppliers in Nigeria and Ghana.

“Suppliers in Nigeria and Ghana no longer needs to wait days for wires to clear before goods are shipped. They simply fund their Flutterwave wallet with USDC, and we handle the conversion to Naira or Cedis instantly.

The suppliers get paid immediately in their local currency, and the platform saves days of waiting, making their operational planning much more effective.”

FINTECH AFRICA | ‘Stablecoin Adoption Has the Potential to 10x the Volumes We’re Currently Doing,’ Says CEO, Flutterwave (https://t.co/Czd5LmgiXX)https://t.co/qaCRmt09A7

— Kobocoin (@kobocoindev) October 31, 2025

Speaking at the 2026 World Economic Forum in Davos,, the CEO of Flutterwave,  Olugbenga ‘GB’ Agboola, said stablecoins speed up settlement times and in turn enables more turnaround and trade opportunity across the entire sales cycle.

 

Being the most licensed non-bank fiat company in Africa and operational over the last 10 years, GB explained that the introduction of stablecoins does not change the company’s operations.

“When it comes to stablecoins, nothing is changing in our customer experience. You want to send money from Nigeria to South Africa or the United States, nothing is changing. 

What is changing is under the hood. We’re making it quicker and faster to move that money from the send to the business via stablecoin rails, via USDC, which is regulated, backed by the dollar, and just makes its quicker and faster.

Unlike most FIs [financial institutions] in the world, in Africa, you need a correspond bank first in order to move money via SWIFT rails. This takes away all that complexity and makes it simpler for money to move quicker yet with the entire infrastructure that guards money movement globally right now.”

STABLECOINS | ‘We’re Building Using Fiat Infrastructure Powered by Stablecoins,’ Says CEO, Flutterwave

 

 

 

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Strategy Inc., the world’s largest public holder of Bitcoin, has said it bought 13,927 bitcoin for about $1 billion, boosting its total holdings to 780,897 BTC, as the company continues to double down on its cryptocurrency investment strategy.

The purchase was made at an average price of roughly $71,900 per token, according to a company filing, bringing the firm’s total bitcoin spend to about $59 billion at an average cost of $75,577 per coin.

The acquisition was funded through proceeds from the company’s at-the-market stock offering program, Strategy’s perpetual preferred equity, Stretch (STRC). The filing showed the company sold 10 million STRC shares last week, generating around $1 billion in notional value and net proceeds. No shares were sold for STRF, STRK, STRD or MSTR stock during the period.

Strategy, the world’s largest corporate holder of bitcoin, has continued to accumulate the cryptocurrency despite market volatility, with its year-to-date bitcoin yield reaching about 5.6%.

CASE STUDY | How This Health-Tech Wants to Become Europe’s Largest Bitcoin Treasury Firm

 

 

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A growing number of South African-founded startups and SMEs operating internationally, particularly those incorporated in the US, are finding themselves unexpectedly locked out of the global financial system, as traditional banks tighten compliance controls and retreat from emerging market exposure.

Despite being legally domiciled in the U.S these businesses, many with teams, suppliers, or operations across Africa, are increasingly facing account restrictions, payment delays, or outright closures. For South African founders building globally competitive businesses, this has translated into operational disruption, increased costs and a growing reliance on fragmented workarounds to move money across borders.

This shift has created a critical gap in the market: businesses that are structurally global, but unable to access banking infrastructure that reflects how they actually operate. As more South African startups expand into international markets, while maintaining operational ties to Africa, the need for financial partners that understand both environments is becoming more urgent.

Verto, a global cross-border payments platform specialising in emerging markets, is stepping into this gap with the launch of global business accounts with named USD accounts, designed specifically for companies operating between the US and emerging markets.

For many businesses incorporated in states like Delaware, Wyoming and Illinois, a common route for South African startups looking to access global capital, accessing stable and reliable banking has become a key barrier to growth. Transactions linked to African markets are often flagged due to a lack of contextual understanding by traditional providers, even when tied to legitimate business activities such as payroll, supplier payments or investment flows.

 

“Too many globally-minded businesses are being treated as high-risk simply because they operate across borders,” said Ola Oyetayo, CEO at Verto.

“This is particularly relevant for South African companies expanding globally, who need infrastructure that supports both their international ambitions and their operational realities at home.”

FINTECH AFRICA | Cross-Border Global Payments Startup, Verto, Launches $10K Business Award to Drive Africa Fintech Expansion

Through its latest offering, Verto enables businesses to open named USD accounts in their company name providing the domestic credibility required to receive funds from U.S customers, partners and investors while seamlessly supporting transactions across African markets.

Unlike traditional banks that often restrict transactions involving emerging market corridors, Verto combines U.S and emerging market compliance expertise to ensure legitimate cross-border activity is understood and processed efficiently, reducing the risk of sudden account freezes or payment blocks.

For founders, this removes the need to rely on multiple payment platforms, intermediaries or costly workarounds to manage international cash flow – a challenge frequently faced by South African businesses scaling beyond local borders. Instead, businesses can move funds between USD and local currencies more efficiently, supporting everything from payroll to supplier payments and investment flows.

Verto’s platform supports transactions in more than 48 currencies and is built to handle high-volume, cross-border activity, including bulk payments and local settlement across key African markets, including South Africa. With over eight years of experience and $25 billion in annual transaction volume, the company has established itself as a key partner for businesses navigating complex international payment environments.

As traditional financial institutions continue to take a more cautious approach to emerging market exposure, the rise of specialised, context-aware solutions signals a shift in how South African and other globally-minded businesses access and manage cross-border finance.

South African Bank, NedBank, Partners with Crypto.com to Enable ZAR and USDC Conversions in Real-Time

 

 

 

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A U.S. musician has lost roughly $420,000 in Bitcoin after falling victim to a fake crypto wallet app scam.

Garrett Dutton, known as ‘G. Love,’ said he lost 5.9 BTC, accumulated over about a decade as a retirement fund after downloading a malicious app posing as Ledger Live from Apple’s App Store. The fake app prompted him to enter his seed phrase giving attackers immediate access to his funds, which were drained ‘in an instant.’

2025 RECAP | How One of the Largest On-Chain Scam Losses in 2025 Happened

This attack proves that “visual confirmation” of just the edges of an address is no longer enough. Scammers can now generate addresses that match the start and end of your most-used wallets in seconds.… pic.twitter.com/osgqJ8uNFR

— BitKE (@BitcoinKE) December 20, 2025

 

“I had to put my seed phrase in the ledger wallet app. I was tricked totally sucks,” said G. Love. “I been in the crypto circus since 2017. Today, they caught me off guard. It was my own damn fault for not being more diligent. But let it serve as a warning. There’s so many scams.”

 

Blockchain investigator, ZachXBT, later traced the stolen Bitcoin to deposit addresses linked to the crypto exchange, KuCoin, indicating the funds were quickly moved and laundered across multiple transactions.

REGULATION | Seychelles-Based Crypto Exchange, KuCoin, Barred from Operating Without a License

At its peak, #KuCoin reportedly had around 1.5 million U.S. users and generated over $184 million in fees from the market, underscoring the scale of its exposure before enforcement… pic.twitter.com/SXF9DVadoK

— BitKE (@BitcoinKE) March 31, 2026

The incident highlights ongoing risks in the crypto ecosystem, particularly from counterfeit wallet applications. Security experts and Ledger have repeatedly warned users to download wallet software only from official sources as entering a seed phrase into any third-party app compromises full control of funds.

The case comes amid a broader rise in crypto-related fraud, with U.S. authorities reporting billions of dollars lost to scams in recent years.

REPORT | Crypto Scams Accounted for Most Costliest CyberCrimes in 2025, Says FBI

 

 

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The European Central Bank (ECB) has backed a European Union (EU) proposal to centralize oversight of major crypto firms under the bloc’s markets regulator, marking a potential shift toward tighter supervision.

In a published opinion, the ECB said it “fully supports” plans to place systemically important crypto-asset service providers and large trading platforms under the authority of the European Securities and Markets Authority (ESMA), rather than national regulators.

The move would represent the most significant overhaul of EU crypto supervision since the Markets in Crypto-Assets (MiCA) framework took effect, which currently allows firms licensed in one member state to operate across the bloc.

European Union (EU) Agree on ‘Landmark Rules to End Crypto Wild West’

The rules, referred to as ‘Markets in Crypto Assets Regulation (MiCA),’ will introduce a licensing regime for crypto services, including wallet providers and exchanges across the EU.https://t.co/bJhwJDRNQ1 pic.twitter.com/nHewXjDIoa

— BitKE (@BitcoinKE) October 9, 2022

The ECB said a centralized model would help reduce regulatory fragmentation and strengthen financial stability as crypto firms become more interconnected with the traditional financial system.

However, the central bank cautioned that ESMA would need additional staffing and funding to handle its expanded role and called for a gradual transition from national supervision to avoid market disruption.

The proposal, which is non-binding but influential, will now be negotiated by EU member states and the European Parliament. Some countries have already expressed concerns that the shift may be premature given MiCA only recently came into force.

STABLECOINS | The European Central Bank Warns Increased Stablecoin Use May Weaken Monetary Policy Flows

 

 

 

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Michael Selig, Chair of the U.S. Commodity Futures Trading Commission (CFTC), is pushing for the agency to retain exclusive authority over prediction markets intensifying a growing clash with U.S. states seeking to regulate the sector.

Selig argues that event-based contracts, which allow traders to bet on outcomes such as elections, sports or economic indicators, fall squarely under the CFTC’s mandate as derivatives products, rather than gambling, and should therefore be overseen at the federal level.

The stance comes as several states, including Arizona, Illinois and Nevada, attempt to classify such platforms as illegal betting operations, triggering legal disputes over jurisdiction. Federal courts have increasingly sided with the CFTC in recent cases reinforcing the regulator’s position that state-level enforcement risks undermining a unified national framework.

Prediction markets, offered by platforms such as Polymarket and Kalshi, have surged in popularity, drawing both retail and institutional interest, but also scrutiny over risks such as insider trading and market manipulation.

REGULATION | Kalshi Prediction Markets Secures Regulatory Approval for Institutional Traders

Selig has emphasized the need for clear federal rules to govern the fast-growing sector warning that regulatory fragmentation could push innovation offshore while weakening oversight.

The dispute is expected to shape the future of prediction markets in the United States with legal battles likely to determine whether federal regulators or state authorities ultimately control the emerging industry.

REGULATION | Insider Trading Risks Escalate on Prediction Markets as Enforcement Intensifies

 

 

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Velora, a cross-chain decentralized exchange aggregator formerly known as ParaSwap, has voted to wind down its decentralized autonomous organization (DAO) and transfer control to its development firm, Laita Labs, following a governance vote.

The proposal, dubbed PIP-77, passed with 65.8% support, ending the DAO’s operational role and shifting all protocol management, infrastructure, and revenue to Laita Labs.

As part of the transition, roughly $415,000 in treasury funds will be transferred to the company to cover outstanding costs while staking programs will be shut down and users allowed to withdraw immediately.

The move also eliminates fee-sharing with token holders, turning the VLR token into a governance-only asset focused on structural decisions such as upgrades or chain expansions.

Laita Labs said the change reflects the project’s current reality, with governance participation declining and core operations already handled by the development team, though some community members opposed the shift, citing reduced token value alignment.

The latest Velora DAO wind down comes as DAOs vs. Labs governance models come under pressure across the DeFi ecosystem.

Key examples include:

The AAVE DAO vs AAVE Labs months-long dispute over free distribution between token holders and AAVE Labs.

The Balancer DAO shutdown due to unsustainability.

The Tally DAO governance platform shutdown due to regulatory pressure.

DeFi | Why this Primary Risk Management Provider is Exiting the Largest DeFi Lending Protocol

 

 

 

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European banks and corporations are accelerating their push into stablecoins, shifting from exploratory discussions to actively selecting infrastructure partners as they prepare real-world deployments.

According to industry executives, conversations that once focused on education, risk and compliance have evolved into execution, with many firms now securing board-level approval and planning live use cases.

This transition is being driven largely by the European Union’s Markets in Crypto-Assets (MiCA) regulation, which has introduced a unified regulatory framework across the bloc replacing fragmented national rules and giving institutions greater confidence to move forward.

European Union (EU) Agree on ‘Landmark Rules to End Crypto Wild West’

The rules, referred to as ‘Markets in Crypto Assets Regulation (MiCA),’ will introduce a licensing regime for crypto services, including wallet providers and exchanges across the EU.https://t.co/bJhwJDRNQ1 pic.twitter.com/nHewXjDIoa

— BitKE (@BitcoinKE) October 9, 2022

Banks and corporates are increasingly viewing stablecoins as part of their core financial infrastructure rather than a parallel system. Industry participants say the focus is now on integrating stablecoins into existing banking stacks to enable faster, lower-cost payments and round-the-clock settlement.

Corporate treasury teams are emerging as a key driver of adoption, using stablecoins for cross-border payments, trade finance and liquidity management. The ability to move funds instantly and operate outside traditional banking hours is seen as a major advantage over legacy systems.

The shift toward partnerships reflects the complexity of building compliant stablecoin infrastructure. Rather than developing solutions in-house, banks are increasingly collaborating with crypto-native firms, custody providers, and payment infrastructure companies to accelerate deployment and meet regulatory requirements.

Overall, the European stablecoin market is moving into an execution phase, with institutions positioning themselves to compete in a rapidly evolving digital payments landscape shaped by regulatory clarity and growing demand for blockchain-based settlement rails.

REGULATION | France Pushes for Tighter MiCA Limits on Non-Euro Stablecoin Payments

 

 

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Iran is demanding that shipping companies pay a Bitcoin toll for oil tankers passing through the Strait of Hormuz, as it moves to maintain control over the critical waterway during the current two-week ceasefire.

Hamid Hosseini, spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, told the Financial Times that authorities will assess each tanker to confirm that Bitcoin payments have been made and to ensure vessels are not transporting weapons.

The BTC toll system will work as follows:

Tankers must email Iranian authorities with their specific cargo details.

The tariff is set at $1 per barrel of oil. Empty tankers are allowed to pass for free.

Upon assessment, vessels are given only a few seconds to pay the toll in Bitcoin. The Iranian spokesperson claimed this is so the funds can’t be ‘traced or confiscated.’

Any vessel attempting unauthorized transit ‘will be destroyed.’

Under the proposed system, tolls are expected to scale with cargo size. The largest crude oil tankers, which can carry roughly 3 million barrels, could be required to pay around $3 million in Bitcoin per transit.

Bitcoin has been selected as the preferred payment method because it bypasses traditional financial infrastructure, is not tied to any sovereign entity, and is less exposed to international sanctions.

2025 RECAP | Sanctions Fuel Over 160% YoY Record Flow Increase to Illicit Crypto Addresses in 2025

The toll mechanism forms part of a broader framework introduced by Iran to tightly regulate movement through the Strait of Hormuz, a vital global oil chokepoint, amid ongoing geopolitical tensions and restrictions on maritime traffic.

Other rules include:

Ships are required to submit detailed cargo and vessel information in advance.

Ships will undergo background checks.

Ships must follow designated routes closer to Iran’s coastline.

Final decisions on passage are overseen by Iran’s Supreme National Security Council, with approval not guaranteed and delays expected.

MILESTONE | Iran’s Move to Charge Strait of Hormuz Crypto Tolls a ‘Significant Milestone’ for State Level Adoption, Says Chainalysis

 

 

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RedotPay accounts for roughly 80% of global crypto card transaction volume, underscoring the growing role of digital assets in everyday payments across emerging markets, according to industry data and web traffic analytics.

Despite its scale, the platform remains largely under the radar in Western crypto circles. Data shows its user base is heavily concentrated in regions such as Bangladesh, India, Egypt and Nigeria, with the United States contributing only a small share of overall traffic.

PRESS RELEASE | Global Stablecoin Fintech, RedotPay, Launches ‘Send Crypto, Receive NGN’ via Ripple Payments

The trend highlights a widening divide in how cryptocurrencies are used globally. In developed markets, crypto adoption is often driven by speculation and institutional investment, while in emerging economies it is increasingly tied to practical use cases such as remittances, inflation hedging and low-cost payments.

MILESTONE | South African Retailer, Pick n Pay, Surpasses Over One Million Rand (~$55,000) a Month in Crypto Payments

Most of the crypto payments are for groceries, airtime, data, and municipal bills.

Interestingly, the majority of the spend is in #Bitcoin despite the… pic.twitter.com/FQ2uu1JnbM

— BitKE (@BitcoinKE) August 13, 2024

Industry analysts say crypto-linked cards have become a critical bridge between digital assets and traditional financial systems, enabling users to spend cryptocurrencies seamlessly through existing payment networks like Visa and Mastercard.

In countries facing currency volatility or limited access to banking services, stablecoins and crypto payment rails are gaining traction as alternatives to local currencies. Reports from blockchain analytics firms such as Chainalysis have consistently shown higher grassroots adoption in regions including Sub-Saharan Africa, South Asia and parts of the Middle East.

RedotPay’s growth also reflects shifting communication patterns within the crypto ecosystem. Much of its community engagement occurs on platforms like Telegram and in local languages, rather than on English-speaking social media channels such as X, contributing to its relatively low visibility among global crypto influencers.

The company’s rise comes amid broader expansion in crypto payments infrastructure as firms race to capture real-world utility beyond trading, particularly in high-growth, underserved markets.

2025 RECAP | VISA Crypto Cards See Over 500% Spending Surge in 2025

 

 

 

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Iran’s reported move to charge cryptocurrency tolls on ships passing through the Strait of Hormuz marks a major escalation in how states use digital assets to exert economic and geopolitical power, according to blockchain analytics firm Chainalysis.

Tehran, through its Islamic Revolutionary Guard Corps (IRGC), is said to be extracting transit fees from vessels navigating one of the world’s most critical oil chokepoints, which handles roughly 20% of global oil flows.

Under the proposed system, shipping operators must submit detailed vessel and cargo information before negotiating fees, typically starting at around $1 per barrel of oil. Payments are expected to be made in cryptocurrency or Yuan, with bitcoin specifically mentioned as an option, partly due to its resistance to seizure under sanctions.

GEOPOLITICS | Iran Reportedly Monetizes the Strait of Hormuz with Payment in Barter, Cash, or Crypto

Iran has reportedly approved all GCC, European, and foreign ships for passage at a $2 million fee, excluding Israeli and American vessels.https://t.co/IKbdJYxt6D pic.twitter.com/qEsuYV5TgN

— BitKE (@BitcoinKE) March 24, 2026

Chainalysis describes the development as a ‘significant milestone’ for state-level crypto adoption, potentially the first instance of a government demanding digital assets for passage through an international waterway.

However, the firm notes that while bitcoin has been referenced, stablecoins are more likely to dominate in practice due to their price stability and liquidity. This aligns with Iran’s broader crypto strategy where stablecoins are already widely used to facilitate large-scale trade and bypass financial restrictions.

2025 RECAP | Illicit Stablecoin Activity Surged to 5-Year High in 2025 with Over 80% Used for Sanctions Evasion

The move underscores how Iran has increasingly integrated crypto into its economic infrastructure, particularly as a workaround for international sanctions. The IRGC alone accounts for a substantial share of the country’s crypto activity, which has reached billions of dollars in recent years.

GEOPOLITICS | Iran’s Largest Exchange Sees a Significant Spike in Crypto Withdrawals #Nobitex is Iran’s largest crypto exchange handling ~87% of the country’s total crypto transaction volumes. In 2025 alone, Nobitex processed about $7.2 billion in trades from more than 11… pic.twitter.com/uAgirDcQVf

— BitKE (@BitcoinKE) March 3, 2026

If fully implemented, the toll system could redefine how nations monetize control over strategic trade routes while also introducing significant compliance risks for global shipping firms, many of which could face sanctions exposure for making such payments.

Beyond the immediate crisis, analysts warn the model could set a precedent for other sanctioned or resource-rich states turning cryptocurrency into a tool not just for finance, but for enforcing sovereignty over global trade corridors.

2025 RECAP | Sanctions Fuel Over 160% YoY Record Flow Increase to Illicit Crypto Addresses in 2025

 

 

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Charles Schwab, a global brokerage firm with almost $12 trillion in client assets, is urging investors to rethink how they approach crypto exposure, saying strategy should be based on risk tolerance rather than potential returns.

In a recent analysis, the brokerage found that even small allocations to digital assets can significantly reshape a portfolio’s risk profile. Exposure of just 1% to 3% to cryptocurrencies like Bitcoin or Ethereum can materially increase volatility and alter overall performance dynamics.

BITCOIN | South Africa’s Largest Independent Asset Manager Urges Clients to Limit Bitcoin Exposure to Under 5% of Their Portfolio @sygnia manages ~$20 billion and recently lauched Sygnia Life Bitcoin Plus fund which tracks the iShares $BTC ETF. https://t.co/7UkBKw6OID pic.twitter.com/kvKzubP6hh

— BitKE (@BitcoinKE) September 23, 2025

Schwab said the key question for investors is not how much money crypto can make, but how much downside they can take during sharp market swings noting that major cryptocurrencies have historically experienced drawdowns of more than 70%.

The firm outlined two approaches to crypto allocation:

one focused on expected returns and diversification benefits, and

another centered on managing total portfolio risk.

The firm emphasized that position sizing remains critical given crypto’s outsized impact even at low allocations.

The first approach is a traditional allocation model and framework that produces highly variable outcomes based on investor conviction as this chart demonstrates.

The second approach is a risk-budgeting framework that allocates crypto based on contributions to total portfolio risk rather than expected returns.

In such a scenario, Schwab notes:

“It takes only a 1.2% allocation to bitcoin and a 0.9% allocation to ether to reach the 10% risk level.”

 

Looking at the 2 approaches, Schwab says:

“There is no ‘correct’ allocation to cryptocurrencies, and we believe the decision is largely a personal one.Even small allocations to bitcoin or ether can significantly affect portfolio performance.”

 

The findings come as traditional financial institutions deepen their engagement with digital assets, while continuing to caution clients about the sector’s high volatility.

INSTITUTIONAL | Brokerage Giant Preparing to Roll Out Bitcoin, Ether Trading in H1 2026

 

 

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Bhutan has offloaded roughly 70% of its bitcoin holdings over the past 18 months, according to blockchain data, with its reserves falling from about 13,000 BTC in late 2024 to under 4,000 BTC currently.

Recent transfers, including about 319 BTC worth roughly $23 million, are part of a broader pattern of steady outflows from wallets linked to the government and its investment arm, Druk Holding & Investments.

While the purpose of the transactions has not been officially confirmed, analysts suggest many of the movements may be sales or treasury management activity.

Separately, on-chain data indicates Bhutan may have scaled back or halted its state-backed bitcoin mining operations, as no significant inflows have been recorded for over a year, though authorities have not commented publicly.

CASE STUDY | Bitcoin Treasury Firm Sees a 99% Drop in Share Price One Year After a Milestone Capital Raise

 

 

 

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A Russian cryptocurrency payments network operating under Western sanctions is stepping up efforts to expand across Africa, signaling Moscow’s broader push to build alternative financial rails outside the global dollar system.

A recent job posting on a Russian recruitment platform sought a project manager to launch operations in Togo for A7, a crypto-based payments network backed by sanctioned entities including a state-linked defence bank and fugitive Moldovan businessman, Ilan Șor. The role involved building the business from the ground up, another indication of Russia’s growing financial ambitions on the continent.

The move comes as Russia continues to adapt to sweeping Western sanctions imposed after its invasion of Ukraine which cut major banks off from the SWIFT messaging system and restricted cross-border transactions.

A7, founded in 2024, has positioned itself as a workaround using tools such as stablecoins and promissory note structures to facilitate international payments in Rubles. The company claims it can enable fast, uninterrupted transactions for trading partners though the scale of its operations remains difficult to verify.

2025 RECAP | Meet the Stablecoin that Outpaced All Dollar Stablecoins Growth in 2025 Despite Regulatory Restrictions

Africa Expansion Gains Visibility, But Questions Remain

Promotional materials and social media footage suggest A7 opened an office in Lagos, Nigeria in 2025 and announced a branch in Harare, Zimbabwe. However, its on-the-ground presence appears limited. Industry participants in both Nigeria and Zimbabwe told reporters they were unfamiliar with the platform and there is little digital footprint to confirm active operations.

A report by the Centre for Information Resilience noted the lack of verifiable activity, raising questions about how functional these offices are beyond announcements and promotional events.

Still, Russian officials have publicly backed the initiative. Speaking at a Russia-Africa conference in Cairo, Egypt, Foreign Minister, Sergei Lavrov, described A7 as the country’s “first international financial platform,” claiming Nigeria and Zimbabwe had already joined and encouraging other African nations to follow.

Lavrov also noted that a growing share of Russia’s trade with Africa is being settled in Rubles underscoring a strategic shift toward local currency transactions and away from the U.S dollar.

BRICS | BRICS Countries Now Use National Currencies for 65% of Mutual Trade Settlements in 2024, IMF Data Reveals

Geopolitics Meets Payments Infrastructure

A7’s expansion aligns with Russia’s broader geopolitical engagement in Africa where it has deepened ties through trade agreements, military cooperation, and political outreach particularly in countries experiencing instability or leadership transitions.

Analysts say the payments network could be part of a wider effort to embed Russian financial infrastructure into these relationships.

Backers of A7 have framed the system as a response to what they describe as “illegitimate” sanctions, but also as a scalable platform for countries seeking alternatives to Western-dominated financial systems.

US sanctions have prompted similar, albeit limited, efforts globally to develop non-dollar settlement mechanisms. Russia’s approach, blending crypto tools with state-backed financial entities, marks one of the more aggressive attempts to operationalize such a system.

2025 RECAP | Sanctions Fuel Over 160% YoY Record Flow Increase to Illicit Crypto Addresses in 2025

Unclear Adoption, Strategic Intent

Despite bold claims, A7’s actual usage remains uncertain. The company has said it processes a significant portion of Russia’s foreign trade but those figures cannot be independently confirmed.

Events tied to its African rollout have drawn a mix of business figures and political affiliates though not all attendees appear to have direct involvement in the platform itself.

What is clear is the intent: to create a sanctions-resistant payments ecosystem and extend it into regions where Russia’s political and economic influence is growing.

As global financial fragmentation accelerates, Africa is increasingly becoming a testing ground for alternative systems and Russia is positioning A7 as one of its key instruments.

REPORT | Stablecoins Now Account for 43% of All Sub-Saharan Africa Crypto Transactions, Says Quidax

 

 

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Crypto exchange, Binance, has offered employees in the United Arab Emirates the option to temporarily relocate to Asia as ongoing conflict in the Middle East disrupts business activity across the region.

The company said staff could move to cities including Hong Kong, Tokyo, Kuala Lumpur, and Bangkok as a precautionary measure emphasizing the move was designed to provide flexibility and support during a period of uncertainty.

Despite the disruptions, Binance said its UAE operations remain fully functional, with many employees choosing to stay. The firm, which follows a remote-first model, added that its global services continue without interruption.

The relocation offer comes after weeks of escalating regional tensions that have impacted travel, business activity and major industry events, some of which have been delayed or canceled.

Binance employs roughly 1,000 people in the UAE, about a fifth of its global workforce, and continues to view the country as a key hub operating under the regulatory framework of Abu Dhabi Global Market.

OPINION | Binance Secures $2 Billion from Abu Dhabi’s MGX – But It’s Not About the Money

 

 

 

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French policymakers are calling for stricter controls on stablecoin usage under the European Union’s Markets in Crypto-Assets (MiCA) framework, particularly targeting non-Euro-pegged tokens.

Denis Beau, First Deputy Governor of the Bank of France, said the current MiCA rules may not go far enough in addressing risks tied to the growing adoption of stablecoins, especially those linked to the US dollar, which dominate the global market.

European Union (EU) Agree on ‘Landmark Rules to End Crypto Wild West’

The rules, referred to as ‘Markets in Crypto Assets Regulation (MiCA),’ will introduce a licensing regime for crypto services, including wallet providers and exchanges across the EU.https://t.co/bJhwJDRNQ1 pic.twitter.com/nHewXjDIoa

— BitKE (@BitcoinKE) October 9, 2022

Speaking at a recent financial seminar, Beau urged EU authorities to tighten restrictions on how such stablecoins are used for payments warning they could undermine Europe’s monetary sovereignty and financial stability if widely adopted.

“It is also important to be clear about the foundations of our payment system that need to be preserved, to ensure that the deployment of tokenized finance deliver its expected efficiency benefits, without bringing additional sources of financial and monetary stability as well as strategic autonomy risks,” said Beau.

“These adverse consequences would certainly materialize if the diffusion of SC as settlement assets would lead to a “stablecoinisation” and “dollarisation” of a significant part of our payment system.”

STABLECOINS | A Euro Stablecoin is Coming in H2 2026

Beau has said that, regarding the type of issuer of stablecoin, he considers that stablecoins issued directly by a bank or by an electronic money institution (EMI) belonging to a banking group present structurally lower counterparty risk than those issued by non-bank actors.

“Non-bank stablecoin issuers currently do not meet the eligibility criteria under the Eurosystem policy on access for non-bank payment service providers to central bank services and therefore cannot access central bank accounts.

However, such access could potentially be considered in the future, particularly for non-bank stablecoin issuers that also provide payment services, subject to certain conditions.”

 

His comments come as French lawmakers also move to increase oversight of crypto activity domestically. The country’s National Assembly recently approved a provision requiring users to report self-custodied crypto holdings above €5,000 annually as part of an anti-fraud bill.

The developments highlight a broader push in France to strengthen crypto regulation as Europe grapples with the rapid rise of dollar-backed stablecoins and their potential impact on the region’s financial system.

STABLECOINS | The European Central Bank Warns Increased Stablecoin Use May Weaken Monetary Policy Flows

 

 

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