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  • Kima joins Mastercard sandbox to enable stablecoin card top-ups
    by Adrian Zmudzinski on May 14, 2025 at 7:47 am

    Kima has integrated with Mastercard’s sandbox program to enable stablecoin top-ups for prepaid cards from self-custody wallets. Decentralized settlement protocol Kima has integrated into Mastercard’s sandbox program, enabling stablecoin-powered top-ups for prepaid cards directly from self-custody wallets.According to an announcement shared with Cointelegraph, Mastercard partners can now rely on Kima’s settlement infrastructure to allow their prepaid cards to be topped up with stablecoins, including USDC (USDC) and Tether’s USDt (USDT), from self-custody wallets across more than 10 blockchains. Kima CEO Eitan Katz said the integration shows that stablecoins can be practical for everyday use and remove friction and intermediaries from crypto-to-fiat conversions while expanding crypto usability.Read more

  • Alarm bells ring in US over OpenAI’s crypto project World
    by Aaron Wood on May 14, 2025 at 7:11 am

    OpenAI’s World project is coming to the US, where a state-by-state approach to privacy could complicate user protections. World Network, the digital identity and crypto project of Sam Altman’s OpenAI, has alarmed privacy activists ahead of its United States launch, with observers concerned over its data collection and protection practices.World “is the opposite of privacy. It’s a trap,” said Nick Almond, CEO of FactoryDAO, on X. While the project claims to protect user privacy in the age of proliferating AI, it’s faced a slew of regulatory concerns across the globe.Formerly known as “Worldcoin,” the iris-scanning technology and its crypto token payout scheme are being probed by authorities in India, South Korea, Italy, Colombia, Argentina, Portugal, Kenya and Indonesia. In Spain, Hong Kong and Brazil, it’s outright banned.Read more

  • Crypto VC deals drop in Q1, but funding more than doubles: PitchBook
    by Brayden Lindrea on May 14, 2025 at 7:09 am

    The number of crypto venture deals in the first quarter dropped nearly 40% from a year ago, but the amount invested more than doubled. Crypto venture capital deals in the first quarter of 2025 saw deal values jump even as the number of deals sank from the same quarter a year ago, says PitchBook.The venture research firm said in its May 14 Crypto VC Trends report for Q1 that 405 deals were made in the quarter, down 39.5% from the 670 deals made in Q1 2024, but slightly up from the 372 made in Q4 last year.However, the total value of deals in Q1 more than doubled from a year ago, jumping to $6 billion compared to $2.6 billion in the first quarter of 2024 and doubling from $3 billion in Q4 2024.Read more

  • Crypto swapper eXch shows signs of life after post-Bybit shutdown
    by Yohan Yun on May 14, 2025 at 7:07 am

    The crypto world watched the rise and fall of eXch, but investigators say the platform may still be lurking behind the scenes. Once a go-to swapper for hackers and drainers, eXch was shut down by German police in April — but continued activity suggests the story isn’t over.Without Know Your Customer (KYC) checks, eXch wasn’t your typical crypto exchange. It acted more like an instant swapper, allowing bad actors and cybercriminals to fly under the radar for years.Among its clients was the Lazarus Group. The North Korean state-backed hacking unit thrust eXch into the spotlight back in February, when it used the platform to funnel some of the $1.4 billion it stole from Bybit. When Bybit traced its stolen funds to eXch, it requested assistance — but the platform refused.Read more

  • Ex-Cred execs plead guilty to wire fraud over $150M crypto collapse
    by Stephen Katte on May 14, 2025 at 6:32 am

    Former Cred CEO Daniel Schatt and ex-financial chief Joseph Podulka admitted to misleading customers about the firm’s financial troubles as part of a plea agreement. Two former executives of the bankrupt crypto lending service Cred have pleaded guilty to wire fraud connected to the company’s collapse.Former Cred CEO Daniel Schatt and chief financial officer Joseph Podulka admitted to wire fraud as part of a plea deal with prosecutors, according to a May 13 text filing in a California District Court.District Judge William Alsup accepted the plea deals and set a sentencing hearing for Aug. 26. Wire fraud can carry up to 20 years in prison and $250,000 in fines for individuals and $500,00 for businesses.Read more