BitcoinKE

Kenyan authorities have frozen an undisclosed number of user accounts on crypto exchange, Binance, as part of a widening crackdown on suspected fraud, money laundering and terrorism financing, according to investigators familiar with the matter.

The action, led by Kenya’s Directorate of Criminal Investigations (DCI Kenya), follows a surge in complaints from users who said they were suddenly locked out of their accounts, with some unable to access funds tied to peer-to-peer (P2P) transactions – a popular channel for converting crypto into cash locally.

REGULATION | Binance Reportedly Freezing P2P User Accounts in Kenya at the Request of Law Enforcement

Under the hashtag, #BinanceUnmasked, a number of users have complained that their @binance accounts have been frozen at the request of law enforcement. The law enforcement… pic.twitter.com/ekZgbUrqMh

— BitKE (@BitcoinKE) April 20, 2026

Binance told affected users the restrictions were imposed at the request of law enforcement agencies, directing them to contact authorities for further details. The company said account limitations can arise from compliance with legal and regulatory obligations or internal policies, and may include cooperation with official investigations.

 

A Binance spokesperson reportedly said:

“Binance is aware of recent conversations regarding account access. Account restrictions may occur for a range of reasons, including adherence to applicable laws, regulatory requirements, and our internal compliance policies.

In certain circumstances, actions may also be taken in accordance with requests from relevant authorities.”

 

 

A senior investigator reportedly said that Kenya is committed to getting off the FATF greylist and we can ‘expect more crackdowns’ to ensure that happens.

Kenya is in the process of finalizing VASP regulations with one of the key expectations being exiting the FATF ‘grey list’ that ensures the country aligns with global anti-money laundering and reporting standards for virtual assets.

Kenya stays on the FATF grey list – even after President Ruto signs sweeping AML/CFT reforms into law.

Crypto firms (VASPs) now face mandatory licensing, KYC, and local vetting.

Laws are in place. But FATF wants proof of enforcement.

Details https://t.co/Y0KcfW6L3P pic.twitter.com/5IdTgJlJ01

— BitKE (@BitcoinKE) June 18, 2025

In order to exit the FATF grey list, jurisdictions to target strategic deficiencies across the national AML/CFT framework, including

improving supervision of financial institutions,

enhancing information sharing,

strengthening criminal asset seizure procedures, and

boosting the capacity to investigate and prosecute illicit financial activity.

Demonstrated identification, investigation, and prosecution of serious financial crimes with enforced penalties such as confiscation of illicit proceeds is also requirement for getting off the grey list.

CRYPTO CRIME | International Law Enforcement Bodies Take Down CyberCrime Infrastructure, Confiscates Associated Crypto – BitKE https://t.co/6LDH4LLqC9

— Dr.Philippe Vynckier, CISSP – Influencer (@PVynckier) March 15, 2026

It remains unclear whether the freezes were backed by court orders, as typically required under Kenya’s anti-money laundering laws, which mandate judicial oversight for asset seizures linked to suspected illicit activity.

Investigators reportedly said some of the flagged accounts are linked to individuals under scrutiny for terrorism financing and cross-border money laundering, while others are suspected of being used to move proceeds of corruption, including public funds.

The Prevention of Terrorism Act allows authorities to freeze assets without prior notice in cases involving national security, a provision officials said may apply to some of the accounts affected.

The Kenya National Police Service and the national investigative body, DCI Kenya, are yet to comment on these developments.

REGULATION | ‘Proceeds of Crime Are Laundered and Concealed Within Real Estate or Cryptocurrency in Kenya,’ Says Kenyan Director of Criminal Investigations (DCI)

 

 

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Singapore-based payments firm, Nium, has partnered with U.S. crypto exchange, Coinbase, to integrate the USDC stablecoin into its global payments network, aiming to cut the cost of cross-border transactions by eliminating the need for prefunded accounts.

The integration allows Nium’s clients to send, receive and settle payments in USDC or convert them into local currencies across more than 190 countries, the companies said.

PARTNERSHIP | Ecobank Partners with Ripple-Powered Payments Platform, Nium, to Unlock Real-Time Payments Across 35 African Markets

Traditionally, cross-border payment providers must hold funds in multiple jurisdictions in advance to facilitate payouts, tying up capital. Nium said the new system enables “just-in-time” settlement where funds are deployed only when transactions occur, reducing liquidity costs.

Under the partnership, Coinbase will provide the underlying infrastructure, including

custody,

wallet services and

liquidity,

allowing businesses to manage stablecoin payments and fiat conversions within a single platform.

The companies said the setup also enables firms to fund payouts in USDC while recipients receive local currency, bridging digital assets with traditional payment rails.

Nium added that the integration could support broader use cases, such as stablecoin-linked card programs, enabling businesses to spend digital dollar balances across global merchant networks.

The move comes as financial institutions increasingly explore regulated stablecoins as a way to improve the speed and efficiency of cross-border payments while reducing reliance on capital-intensive prefunding models.

STABLECOINS | A ‘Big Three’ Investment Bank in Japan Bets on USDC as it Overtakes USDT in Transaction Volume

 

 

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New York Attorney General, Letitia James, has sued crypto exchanges, Coinbase and Gemini, alleging their prediction market offerings amount to illegal gambling under state law, court filings show.

The lawsuits, filed in Manhattan state court, claim the companies operated unlicensed platforms that allow users to trade on the outcomes of events such as sports and elections without approval from the New York State Gaming Commission.

 

James said the so-called ‘event contracts’ are ‘quintessentially gambling’ because outcomes are outside users’ control and rely on chance, adding that ‘gambling by another name is still gambling.’

REGULATION | Gambling Rules Apply to Prediction Markets, Warns Major League Baseball of America

The state also alleges the platforms allowed users aged 18 to 20, below New York’s legal betting age of 21, and failed to comply with regulations imposed on licensed sportsbooks.

New York is seeking to halt the businesses unless they obtain licenses, and is asking for financial penalties including disgorgement of profits, civil fines, and restitution for customers.

The cases come amid a broader jurisdictional dispute between state regulators and the federal Commodity Futures Trading Commission which has argued it holds primary authority over prediction markets.

REGULATION | Prediction Markets Fall Under Our Federal Mandate, Says Chairman, CFTC

A spokesperson for Coinbase said the company would continue to push for federal oversight of such markets while Gemini did not immediately respond to requests for comment.

Prediction markets have grown rapidly in popularity since 2024.

Polymarket aims to raise $400 million at a $15 billion valuation highlighting investor apptetite and continues expansion.

This comes just a few weeks after Kalshi, Polymarket’s main competitor, raised a massive $1 billion at a $22 billion valuation.

All of the above is intensifying regulatory scrutiny and setting up a legal battle over whether they should be treated as financial instruments or gambling products.

REGULATION | Kalshi Prediction Markets Secures Regulatory Approval for Institutional Traders

 

 

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_________________________________________

DoorDash plans to introduce stablecoin-based payments for merchants and delivery workers through a partnership with blockchain project, Tempo, marking one of the largest real-world deployments of crypto payments in the gig economy.

The leading U.S. delivery firm said the integration would allow payouts in stablecoins across more than 40 countries, aiming to reduce costs and speed up settlement for its global network of users, merchants and couriers.

 

In a statement, the company said:

Most companies process payments between two parties. DoorDash enables transactions across three: a consumer pays for an order, a merchant receives revenue, and a Dasher earns income for fulfilling the delivery. Each party has different payout timing, currency, and compliance requirements, and each needs to be served well for the marketplace to work.

Now multiply that across more than 40 countries. Each market has different payment rails, FX dynamics, settlement timelines, and regulatory requirements. A payout flow that works in Atlanta does not apply in Helsinki. The logistics of getting a Dasher paid in one country look nothing like the logistics in another.

For Dashers, whose delivery income is a flexible earnings stream, waiting days for a payout is a real friction point. For merchants, a significant share of revenue flows through DoorDash, and getting that money faster and more affordably is something they ask for explicitly. And marketplace transactions are not simple one-way payments: consumers modify orders after checkout, and refunds need to process quickly.

STABLECOINS | The Stablecoin Market Cap Surpass $320 Billion as Yield-Bearing Stables Vastly Outpace the Market

Tempo, a payments-focused blockchain incubated by Stripe and venture firm, Paradigm, is designed to handle high-volume, low-cost transactions using fiat-pegged digital tokens.

DoorDash, which operates a three-sided marketplace connecting consumers, merchants and drivers, said blockchain-based payments could simplify complex cross-border flows and offer faster, cheaper payouts compared with traditional banking rails.

 

“If we can get merchants and Dashers their money faster, and do that in a way that’s affordable for them, that’s a no-brainer for the entire ecosystem,” said DoorDash Co-Founder Andy Wang.

“Tempo has a world-class team in the crypto space. They have experience not only with crypto from a technology standpoint, but also from an enterprise readiness standpoint, thinking about what would make this technology work realistically for an enterprise like DoorDash.”

STABLECOINS | VISA and Standard Chartered Launch Validator Nodes on Stripe-Owned Blockchain, Tempo

The move comes as financial and payments firms increasingly adopt stablecoin infrastructure. Companies including VISC and Mastercard have also expanded stablecoin initiatives, while Tempo has attracted partners across banking and fintech to build real-world payment use cases.

DoorDash did not disclose a timeline for a full rollout, and details such as supported stablecoins and pilot programs remain under development.

 

DoorDash’s approach to stablecoins reflects how the company has always operated: solve for the local, and the global follows. Rather than waiting for stablecoin infrastructure to mature and then adopting it, DoorDash is investing early to help shape how stablecoin payments work for large-scale marketplaces.

“If we can participate in the ecosystem and help design for these use cases up front, maybe problems that are painful today can be painless tomorrow.”

Andy Fang, Co-Founder, DoorDash

 

 

REPORT | Stablecoins Now Account for the Majority of On-Chain Transaction Volume, Says Chainalysis

 

 

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The Philippine Securities and Exchange Commission (SEC Philippine) has issued a public warning against using cryptocurrency trading platform, dYdX, and six other digital asset services, saying they are operating without the required authorization to solicit investments in the country.

In an advisory, the regulator said:

dYdX

Aevo

gTrade

Pacifica

Orderly

Deriv and

Ostium,

are not registered with the commission and have not secured licenses under the Philippines’ Crypto-Asset Service Provider (CASP) framework.

In addition, firms offering cryepto-related services in the Philippines are required to meet capital and operational requirements, and none of the listed entities seem to have made the cut.

The SEC said its findings indicate the platforms appear to be offering investment opportunities to the public, including promises of returns, profits or interest, which may fall under securities regulations.

Under Philippine law, entities offering such products must register with the SEC and comply with disclosure and licensing requirements before marketing to investors.

The regulator warned that individuals promoting or endorsing these platforms locally could face penalties, including fines of up to 5 million pesos (about $89,000) or imprisonment of up to 21 years, or both.

The advisory forms part of a broader crackdown by Philippine authorities on unlicensed crypto operators as regulators tighten oversight to protect retail investors from potential fraud, losses and lack of legal recourse.

Some of the recent actions by Philippine authorities against crypto players are as follows:

SEC Philippines blocked Coinbase and Gemini in December 2025 as part of its broader crackdown on unlicensed CASPs.

SEC Philippines warned investors against the use of 10 ‘unregistered crypto exchanges,’ including OKX, ByBit, KuCoin, and Kraken

In 2024, the authorities also blocked Binance directing app stores to remove the trading app from the access within the country.

 

REGULATION | Russia Introduces Crypto Bill With Severe Criminal Penalties and Prison Time for Unregistered Operations

 

 

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Arbitrum said it has frozen about $71 million worth of ether linked to the recent Kelp DAO exploit using emergency powers to block access to funds tied to one of the largest decentralized finance (DeFi) hacks in 2026.

The network’s Security Council moved roughly 30,766 ETH into a restricted intermediary wallet making the assets inaccessible to the attacker and placing them under governance control pending a final decision by token holders, according to a recent statements.

The action follows a $292 million exploit targeting Kelp DAO’s rsETH token where attackers manipulated cross-chain infrastructure to drain funds.

Arbitrum said the intervention was designed to prevent further losses and protect users adding that the move did not disrupt network activity or affect other applications.

However, the decision has triggered a broader debate across the crypto industry about the limits of decentralization.

DeFi | Liquid Restaking Protocol, Kelp DAO, Compromised Loosing ~$300 Million

Controversy Over ‘Code vs Control’

The freeze marks an unusual step for a blockchain system built on principles of immutability and permissionless access where transactions are typically irreversible.

 

Critics argue that allowing a council to intervene undermines those core ideals.

‘Taking back the stolen assets… violates these principles,” one industry analysis noted, highlighting that such actions imply that “someone has the power to intervene.” 

 

“You gues can freeze ETH?” wondered the popular tech and elite trader, Ivan On Tech.

 

Other well known players showed similar dissapointment to the very idea of decentralization amid the freeze.

 

Others on social media, including prominent personalities such as Justin Sun, questioned whether Arbitrum’s governance structure is sufficiently decentralized, pointing to the role of its 12-member Security Council in authorizing the freeze.

The episode has reignited a long-running tension in DeFi between security and decentralization: whether protocols should prioritize strict neutrality or retain the ability to act in emergencies.

The response has been mixed.

Supporters say the move demonstrates responsible risk management in a sector increasingly plagued by large-scale exploits helping contain systemic fallout and potentially recover user funds.

Critics, however, warn it sets a precedent that could erode trust in decentralized systems if governance bodies can freeze or reassign assets.

Even within Arbitrum, the decision followed extensive internal debate. Security Council members said the move involved “technical, practical, ethical and political” considerations before proceeding.

For now, the frozen ether remains in limbo.

Arbitrum said any further action, including returning funds to victims or reallocating them, will require a formal governance vote, effectively handing the final decision to the broader DAO community.

The outcome could set an important precedent for how decentralized networks respond to future exploits as the industry grapples with balancing user protection against the foundational principle of censorship resistance.

DeFi | Leading Decentralized Lending Platform Sees a Sharp 20% TVL Drop After Kelp DAO Hack

 

 

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Singapore’s OCBC, the second largest banking and financial services corporations in Singapore by total assets, has launched a tokenized physical gold fund on the Ethereum and Solana blockchains as the bank deepens its push into blockchain-based financial products.

The fund, issued as the ‘GOLDX’ token, was developed in partnership with Lion Global Investors and digital asset exchange DigiFT, and provides investors with on-chain exposure to a physically backed gold portfolio.

The token is tied to the LionGlobal Singapore Physical Gold Fund, which held about $525 million in assets under management as of mid-April, according to the companies.

OCBC said the product is aimed primarily at institutional investors, including

banks,

hedge funds and

asset managers,

who can subscribe using either fiat currency or stablecoins, with tokens delivered directly to blockchain wallets.

The launch marks Southeast Asia’s first tokenized physical gold fund on a public blockchain reflecting growing demand for tokenized real-world assets as financial institutions seek to bridge traditional finance with decentralized finance infrastructure.

TOKENIZATION | World Gold Council Moves to Build Shared Infrastructure for Tokenized Gold

Tokenized real-world assets have expanded rapidly with their total value on public blockchains exceeding $29 billion in 2026, data from industry trackers shows.

OCBC said the initiative forms part of its broader strategy to integrate digital assets into mainstream financial services as competition intensifies among global banks exploring blockchain-based investment products.

As of end of 2024, OCBC total assets stood at ~$625.1 billion while operating a network of over 600 branches and offices globally with a heavy focus on

Southeast Asia

Greater China, and

Malaysia

The firm has roughly 30, 000 employees and ranks among the ‘Big Three’ banks in Singapore alongside DBS and UOB.

MILESTONE | Onchain Gold Trading Surges to Record High as Market Eyes Tokenized Stocks

 

 

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Coinbase has rolled out crypto-backed loans in the United Kingdom, allowing users to borrow the dollar-pegged stablecoin USD Coin against their digital asset holdings, as regulatory clarity in the country continues to evolve.

The service enables eligible UK customers to borrow up to $5 million in USDC by pledging cryptocurrencies such as bitcoin, ether and Coinbase’s wrapped staked ether (cbETH) as collateral, the company has said.

 

In a comment, Keith Grose, Senior Country Director for Coinbase, UK, said:

We are making Coinbase the best place to invest in crypto and manage money in the UK. That continues today with the launch of Borrow!

UK Coinbase users can now instantly borrow USDC at competitive interest rates using their Bitcoin, ETH or cbETH as collateral.

Crypto-backed loans join our recently launched savings account in the UK to give people more choice about how to manage their finances.

In short:

– Borrow: crypto-backed loans let users maintain ownership of their long-term crypto assets while borrowing USDC at competitive rates for everyday spending

– Save: users can get 3.5% AER and FSCS protection with a Coinbase Instant Access Savings account (powered by ClearBank)

DeFi | Leading Decentralized Lending Platform Sees a Sharp 20% TVL Drop After Kelp DAO Hack

Loans are issued via Morpho, an on-chain lending protocol operating on Coinbase’s layer-2 blockchain Base, with collateral locked in smart contracts until repayment.

Interest rates are variable and determined by market conditions, with no fixed repayment schedule, though borrowers face liquidation risks if collateral values fall below required thresholds, the company said.

The UK launch expands a crypto-backed lending product first introduced in the United States in 2025, where Coinbase has steadily increased borrowing limits and added support for more collateral assets.

The move comes as the UK’s Financial Conduct Authority (FCA) continues to shape rules around crypto services, with firms like Coinbase seeking to offer regulated access to decentralized finance tools through simplified user interfaces.

Coinbase said the new offering allows users to access liquidity without selling their crypto holdings, a feature that has gained traction as investors look to retain exposure to digital assets while unlocking cash.

 

INSTITUTIONAL | Coinbase Bitcoin Yield Fund Goes On-Chain in Partnership with a $3.5 Trillion Fund Administrator

 

 

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___________________________________________

Strategy (formerly MicroStrategy Inc.) has said it purchased 34,164 bitcoin for about $2.54 billion last week, lifting its total holdings to 815,061 tokens, as the company continued to deepen its exposure to the cryptocurrency.

The acquisition, disclosed in a regulatory filing, was made at an average price of about $74,395 per bitcoin. Bitcoin has recently traded near that level, leaving the firm’s overall position close to its aggregate cost basis.

The latest purchase is the company’s 3rd largest on record and brings its cumulative bitcoin investment to roughly $61.56 billion, at an average purchase price of about $75,527 per token.

Strategy funded the acquisition through proceeds raised under its at-the-market equity program, including sales of preferred and common stock, the filing showed.

The move underscores the firm’s ongoing strategy of using capital markets to accumulate bitcoin, reinforcing its position as the largest corporate holder of the cryptocurrency and a proxy vehicle for institutional exposure to the asset.

 

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

 

 

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_________________________________________

A recent series of tweets in Kenya reveal that law enforcement has begun to crack down on P2P users reportedly under investigation on the Binance platform.

Under the hashtag, #BinanceUnmasked, a number of users have complained that their Binance accounts have been frozen at the request of law enforcement. The law enforcement Government agency name has been identified as the National Police Service, Kenya.

 

One disgruntled user wrote:

“We were told the freeze was requested by the Directorate of Criminal Investigations under the National Police Service. Naturally, we followed up. The response? “Contact law enforcement.” Binance says they can’t disclose details.” However, Binance declines to disclose the purpose of the freezes, and instead, requests users to reach out to the identified law enforcement for further information regarding their cases under investigation.

REGULATION | Binance Reportedly Addressed Over 600 Information Requests from Nigerian Law Enforcement Agencies in the Last 4 Years

Users have complained that the lack of openness from Binance and freezes that lock them out of their funds without warning is the problem.

REGULATION | ~50 Virtual Asset Firms Looking to Set up Regional HQs in Kenya, Says Nairobi International Finance Center (NIFC) @binance confirmed it is among the firms considering #Nairobi as a #base, though its entry will depend on the final #regulatory framework adopted by… pic.twitter.com/36NIww1Xkx

— BitKE (@BitcoinKE) March 25, 2026

A few users seem to have been surprised that law enforcement had information about their crypto activities on Binance.

Here are some comments from Binance users that have had their accounts frozen:

 

“Users are not against investigations but expect fairness transparency and proper communication throughout any process that affects their access to funds.”

 

“Every day without access to funds adds pressure. Financial Freedom must ensure that users are not subjected to indefinite restrictions without explanation or a clear path to resolution.”

 

“Imagine waking up and your entire financial life is “under review” with zero timeline. No complainant, no charges, just a frozen screen. Compliance shouldn’t mean leaving people in the dark while their debt grows. We need answers.”

 

“It’s been over 2 months of silence from Binance. My associate’s funds are frozen with no court order and no explanation. Real life doesn’t pause while you wait—bills are piling up and debt is growing. This is a livelihood on hold.”

 

“Binance needs to step up. We need clear communication, actual timelines, and proof of due process. You can’t just cite compliance and ghost the people who use your platform. Accountability isn’t optional.”

 

 

[This is a developing story and we shall keep monitoring developments with relevant updates].

 

 

 

 

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_________________________________________

The White House has sharply criticized U.S. banks for continuing to lobby against yield-bearing stablecoins in ongoing negotiations over the Digital Asset Market Clarity Act, escalating tensions between policymakers and the traditional financial sector.

Patrick Witt, executive director of the White House’s Presidential Advisory Committee on Digital Assets, in April 2026 accused banks of acting out of ‘greed or ignorance’ as they push to block provisions that would allow some form of returns on stablecoin holdings. He urged lenders to ‘move on’ from their opposition, signaling growing frustration within the administration.

The dispute centers on whether stablecoin issuers and related platforms should be allowed to offer users yield-like rewards. A bipartisan compromise under discussion would prohibit passive interest payments but permit activity-based incentives tied to usage.

REGULATION | CLARITY Act Will Reportedly Bar Stablecoin Yield on Passive User Balances

Banking groups argue that allowing such yields could pull deposits out of the traditional banking system, potentially weakening lending capacity. Some industry estimates warn of trillions of dollars in possible outflows.

Yield bearing stablecoins are here to stay, whether the banks like it or not. Over the last 6 months, the growth in yield bearing stablecoin supply has begun to uncouple from the growth in the broader stablecoin market, and the gap continues to widen.

The yield bearing stablecoin supply has outpaced the broader market by over 15x, with the growth starting around mid October 2025.

The winners don’t do payments. Unlike issuers who offer both a payment stablecoin and a staked yield bearing one, the largest yield bearing stablecoin issuers focus offer only one asset, acting more like money market funds or bank deposits.

STABLECOINS | The Stablecoin Market Cap Surpass $320 Billion as Yield-Bearing Stables Vastly Outpace the Market

However, the White House has pushed back on those claims, citing a recent Council of Economic Advisers report which found that banning stablecoin yields would increase bank lending by only about $2.1 billion, or roughly 0.02%, while imposing an estimated $800 million cost on net welfare cost to consumers.

The clash highlights a broader divide in Washington over how to regulate the rapidly growing stablecoin market, now valued at more than $300 billion, and its potential impact on the financial system.

With lawmakers facing a narrowing legislative window ahead of the 2026 midterm elections, the outcome of the yield debate is seen as a key hurdle for the CLARITY Act, a bill aimed at establishing a comprehensive regulatory framework for digital assets in the United States.

REGULATION | America’s Largest Bank Says the CLARITY Act Crypto Legislation is Nearing a Breakthrough

 

 

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_________________________________________

Dollar-pegged stablecoins have surged to a record $320 billion in supply, underscoring accelerating adoption even as U.S. lawmakers remain deadlocked over key provisions in the proposed CLARITY Act.

The growth highlights how stablecoins have expanded beyond their original role as trading tools to become widely used for

payments,

savings,

payroll and

cross-border transfers,

deepening their integration into the global financial system.

Market dominance remains concentrated among a handful of issuers.

Tether’s USDT leads with roughly $185 billion in circulation, followed by

Circle’s USDC at about $78 billion,

together accounting for the bulk of liquidity in the sector.

Stablecoins now ccount for 30% of all on-chin transaction volume reflecting on their central role in the broader on-chain economy.

77% of surveyed firms use USDC which signals its use in embedded B2B settlement and treasury activity over exchange flows.

The strongest demand however is still coming where dollar access and currency stability matter most.

STABLECOINS | Almost the Entire USDT User Base is Now in Emerging Markets, Says CEO, Tether

Activity is also clustered on a few blockchains, with Ethereum hosting about 60% of total supply, while networks such as TRON and Solana account for smaller but growing shares.

Meanwhile, yield-bearing stablecoins, which are tokens that share income generated from reserve assets, have expanded far faster than the broader market, growing roughly 15 times faster over the past six months, reflecting rising demand for on-chain returns.

 

The surge comes despite ongoing policy uncertainty in Washington where lawmakers remain divided over whether issuers should retain interest earned on reserves or pass some of it to users. The dispute has stalled progress on the CLARITY Act, a bill intended to establish a regulatory framework for digital assets.

Industry participants warn that prolonged delays could push innovation and capital offshore as firms seek clearer regulatory environments, even as stablecoin usage and transaction volumes continue to rise globally.

STABLECOINS | Yield-Bearing Stablecoins Accounted for Over Half of the Supply in Q1 2026

 

 

 

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___________________________________________

Coinbase has introduced two artificial intelligence agents designed to help workers automate tasks and interact with crypto systems on Slack and email as the company deepens its push into the emerging ‘agent economy.’

The tools allow AI agents to carry out functions such as

executing transactions,

managing funds and

interacting with blockchain-based applications.

The move is part of Coinbase’s broader strategy to build infrastructure enabling autonomous software systems to operate financially on-chain.

 

“To start we’re shipping two which are modeled after legendary former Coinbase employees, Fred and Baaji,”  said Coinbase CEO, Brian Armstrong.

INTRODUCING | AliPay Parent Company Introduces Agentic Commerce Platform to Hold, Trade, and Pay in Crypto

The agents are integrated with Coinbase’s developer platform and can be deployed with pre-set commands, enabling activities such as trading, sending payments and earning yield with limited human intervention. Developers can also set spending limits and controls to manage risks associated with autonomous operations.

The initiative aligns with a wider industry trend in which crypto firms are investing in tools that allow AI systems to transact independently. Executives, including Coinbase CEO, Brian Armstrong, have argued that blockchain networks – with their always-on, programmable payment capabilities – are well suited for machine-to-machine commerce.

AI | VISA Unveils Platform Enabling AI Agents to Make Purchases and Payments

AI agents are already beginning to conduct transactions such as paying for data, compute power and online services, though the sector remains at an early stage of development.

Coinbase is positioning its layer-2 network, Base, as a key platform for this activity aiming to support a future where autonomous agents play a larger role in digital markets and payments.

 

According to Brian, CEO of Coinbase:

“Soon, it will be easy for any employee to spin up a new agent for themselves or their team. I suspect we will have more agents than human employees at some point soon.”

 

EXPERT OPINION | Why AI Agents in Commerce Will Use Both Cards and Stablecoins

 

 

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Leading decentralized lending platform, AAVE, saw billions of dollars exit its ecosystem following a major exploit at liquid restaking protocol, Kelp DAO, underscoring structural risks in interconnected decentralized finance (DeFi) markets.

AAVE’s total value locked (TVL) fell by roughly $9 billion to $17.7 billion (as of April 20, 2026) in the days after the incident, according to data from DeFiLlama, as users rushed to withdraw funds amid concerns over collateral exposure.

@aave‘s #TVL drops sharply triggered by broader liquidity shocks across integrated protocols following the @KelpDAO exploit. pic.twitter.com/nzuVXXubkO

— BitKE (@BitcoinKE) April 20, 2026

The decline followed a roughly $292 million exploit of Kelp DAO’s rsETH token, one of the largest DeFi hacks of 2026, which triggered a broader liquidity shock across protocols integrated with the asset.

The attacker manipulated the protocol’s LayerZero-powered bridge siphoning nearly 18% of the token’s circulating supply.

DeFi | Liquid Restaking Protocol, Kelp DAO, Compromised Loosing ~$300 Million

Attackers minted or drained large amounts of rsETH and used the tokens as collateral within AAVE, leaving the lending protocol potentially exposed to an estimated $177 million to $200 million in bad debt, according to market estimates.

The fallout prompted AAVE to freeze markets tied to the affected token, while investors, particularly large holders, pulled liquidity, accelerating the decline in TVL, which dropped more than 20% from pre-hack levels.

The episode has reignited concerns about ‘composability’ in DeFi – the practice of integrating tokens and protocols across platforms – which can amplify risk when a single component fails.

Analysts say the scale of AAVE’s outflows, far exceeding the initial hack size, highlights how vulnerabilities in liquid restaking tokens can cascade through lending markets that accept them as collateral.

MILESTONE | @aave Now Controls 20% of Total #DeFi Total Value Locked

Dominance grew from 11% to 20% since Jan’24, while DeFi TVL doubled outperforming the category.

Jan’24 -> May’25

* DeFi TVL $56B -> $115B (2x) * Aave TVL $6.6B -> $23.8B (3.6x)https://t.co/eVZjI4kxS6 pic.twitter.com/w3pdcaPogf

— BitKE (@BitcoinKE) May 21, 2025

The Kelp DAO exploit, which involved suspicious cross-chain activity and prompted contract pauses during investigation, is now being viewed as a test case for how DeFi lenders manage collateral risk tied to increasingly complex token structures.

While AAVE itself was not directly hacked, the incident has triggered a broader reassessment of risk models across the sector with some developers and governance bodies expected to tighten rules around collateral eligibility in the wake of the losses.

DeFi | Nigeria’s Polkadot Project, HyperBridge, Compromised, Minting ~$2 Billion in Tokens, Loosing ~ $2.5 Million (Updated)

 

 

 

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The Finance Minister of France has called on Europe to develop more Euro-denominated stablecoins urging banks to step up efforts to counter the dominance of U.S. dollar-backed digital assets in global payments.

Speaking in pre-recorded remarks at a cryptocurrency conference in Paris, Finance Minister, Roland Lescure, said the relatively low volume of Euro-pegged stablecoins compared with dollar-based alternatives was “not satisfactory,” and encouraged banks to explore tokenised deposits.

Stablecoins, a type of cryptocurrency typically pegged to fiat currencies, are widely used in crypto markets but remain limited in mainstream payments. The sector is dominated by dollar-linked tokens, particularly those issued by Tether, which account for the bulk of global circulation.

Lescure backed a planned initiative by a group of European banks, including

ING,

UniCredit and

BNP Paribas,

to launch a euro-pegged stablecoin in the second half of 2026, saying such efforts were needed to strengthen Europe’s position in digital finance.

STABLECOINS | A Euro Stablecoin is Coming in H2 2026

European policymakers have increasingly voiced concern over reliance on non-European payment providers, especially amid strained relations with the United States, and are seeking to bolster financial sovereignty through digital assets and infrastructure.

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

The ECB notes concerns about the dominance of dollar-pegged #stablecoins in the global market. Since most stablecoins are backed by U.S. #dollars rather than #euros, their… pic.twitter.com/0bOVgZ55ep

— BitKE (@BitcoinKE) March 3, 2026

French policymakers have been 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, has previously 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.

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

The European Central Bank is also working on a digital Euro, though progress has been slowed by political delays and resistance from parts of the banking sector. Lescure said a central bank digital currency should play a key role in Europe’s broader tokenisation strategy.

Europe Must Reduce Reliance on U.S Dollar and Strengthen Alternatives, Says French President

 

 

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The Central Bank of Nigeria (CBN) has concluded its testimony against cryptocurrency platform Binance, maintaining that it carried out “hidden operations” in Nigeria without authorization, according to local reporting.

Dr. Olubukola Akinwunmi, Director of Banking Supervision at the CBN, wrapped up his testimony before Justice Emeka Nwite of the Federal High Court in Abuja, in a criminal trial initiated by the Economic and Financial Crimes Commission (EFCC) in 2024.

REGULATION | U.S. Lawmakers Demand Release of Binance Official as Nigeria Announces Commencement of Tax Evasion Trial

The EFCC has accused Binance and two of its former executives, Tigran Gambaryan and Nadeem Anjarwalla, of conspiring to conceal the origin of proceeds from alleged unlawful activities in Nigeria, including $35.4 million. The alleged offences are said to contravene provisions of the Money Laundering (Prevention and Prohibition) Act, 2022. Binance has denied the allegations.

During cross-examination by Binance’s counsel, Akinwunmi confirmed that the platform was accessible and marketed to Nigerians at the time under review.

 

When asked whether cryptocurrency trading was prohibited, he said: “I am aware that cryptocurrency trading and its usage were restricted at some point in Nigeria.” 

#Binance Operations in Nigeria are Illegal and Should Immediately Stop Soliciting Nigerian Investors, Says SEC Nigeria

According to the Securities and Exchange Commission (SEC), Binance Nigeria Limited, which is a subsidiary of Binance, is conducting its operations in the… pic.twitter.com/xgcUvkBAXy

— BitKE (@BitcoinKE) June 12, 2023

On the evolution of the sector, he added: “I am aware that development in cryptocurrency has been around for upwards of ten years.” 

Responding to questions on whether Binance attempted to conceal its activities, Akinwunmi maintained that “their usage of the Nigerian banking system was hidden by the use of pseudonyms by users of the platform.”

REGULATION | Nigerian High Court Orders Binance to Provide Authorities With Information on All Users

In a separate report, an analysis of trades conducted between February 19 -21 2024 revealed a cluster of Nigerian retail traders placing substantial buy orders for USDT that… pic.twitter.com/54HOpI2Nkf

— BitKE (@BitcoinKE) March 19, 2024

He also told the court: “There were times when there was free access to its platform, and there were also times when it was not accessible except through covert channels.”

REGULATION | #Binance Nigeria Users Face More Service Restrictions Amid Ongoing Legal Battle

Locals attempting to access Binance #Web3 Quest, a platform for earning crypto giveaways, were greeted with a message stating that the service was no longer available.… pic.twitter.com/TcExkgAHjA

— BitKE (@BitcoinKE) March 11, 2025

However, the CBN official declined to confirm whether Binance deliberately intended to hide its operations and said he could not state whether any official order classified cryptocurrency as foreign exchange at the time.

Following his testimony, the court discharged Akinwunmi and adjourned proceedings to May 15, 2026 for continuation of the trial.

 

The case stems from a broader crackdown on crypto activity in Nigeria.

In early 2024, the National Security Adviser classified cryptocurrency trading as a national security issue. The CBN subsequently directed fintech firms including OPay, Moniepoint, Paga and PalmPay to restrict accounts linked to crypto transactions.

REGULATION | Nigerian Fintechs to Resume Customer Onboarding and Block Crypto Accounts After Central Bank Lifts Suspension

At the same time, the bank asked major fintechs including Moniepoint, Paga, and PalmPay to block the accounts of customers dealing in cryptocurrency and… pic.twitter.com/2XUl7mxozI

— BitKE (@BitcoinKE) June 14, 2024

Binance also came under scrutiny over allegations of currency manipulation and money laundering, leading the platform to disable its peer-to-peer services for Nigerian users in February 2024.

Two senior Binance executives were detained by Nigerian authorities that same month. Anjarwalla later fled the country while Gambaryan was eventually released on health grounds following diplomatic engagements.

Separately, Nigeria’s Securities and Exchange Commission has pushed for tighter crypto regulations, including removing the Naira as a trading pair on peer-to-peer platforms. Meanwhile, the Federal Inland Revenue Service (FIRS) has also filed tax-related charges against Binance, with both parties exploring an out-of-court settlement.

REGULATION | Nigeria Sues #Binance for $81.5 Billion in Economic Losses and Unpaid Taxes

The Federal Inland Revenue Service (FIRS) claims that Binance has a ‘significant economic presence’ in Nigeria.https://t.co/1VQGMEuClQ @FIRSNigeria @binance @BinanceAfrica pic.twitter.com/VaSjVCjnlu

— BitKE (@BitcoinKE) February 20, 2025

A report on the settlement is expected on May 12, 2026.

TAXATION | Binance Seeking Out-of-Court Settlement with the Nigeria Revenue Service, Confirms Government Lawyer

 

 

 

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A hacker has exploited liquid restaking protocol Kelp DAO, draining roughly $293 million in one of the largest DeFi attacks of 2026 and triggering disruptions across multiple platforms, according to industry reports.

The attacker manipulated the protocol’s cross-chain infrastructure, specifically its LayerZero-powered bridge, to authorize fraudulent transfers, siphoning about 116,500 rsETH tokens – nearly 18% of the token’s circulating supply.

Kelp DAO said it paused contracts across Ethereum and several layer-2 networks following the incident as it investigates the breach with partners and security firms.

The exploit has had ripple effects across the DeFi ecosystem. Lending platform AAVE froze markets tied to rsETH, while other protocols also halted related activity to limit exposure.

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

“Money solves many problems, but not all of them. The deeper issue is a fundamental misalignment on how risk should be managed at @aave.

The more we discussed the path forward, the… pic.twitter.com/vjl38hCKAP

— BitKE (@BitcoinKE) April 7, 2026

Blockchain security firms said the attacker has already converted a significant portion of the stolen funds into Ether, raising concerns about potential losses and bad debt across integrated platforms.

The incident highlights growing systemic risks in DeFi where deeply interconnected protocols can amplify the impact of a single exploit across the broader ecosystem.

DeFi | Nigeria’s Polkadot Project, HyperBridge, Compromised, Minting ~$2 Billion in Tokens, Loosing ~ $2.5 Million (Updated)

 

 

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The newly launched Cashtags feature by Social media platform, X, has generated an estimated $1 billion in global trading volume within its first two days, according to the platform’s Head of Product, Nikita Bier, marking an early milestone in Elon Musk’s push to turn the social media platform into an ‘everything app.’

The feature, which launched on April 14, 2026 for iPhone users in the United States and Canada, allows users to tap on stock and crypto tickers in posts to view live price charts and related discussions without leaving the app. The trading volume estimate was based on aggregated data from X’s pilot program, Bier said in a post.

INTRODUCING | X Launches ‘Cashtags’ Feature Powered by Solana

Cashtags has been integrated with Canadian online brokerage, Wealthsimple, enabling Canadian users to trade assets directly through the feature, though X has yet to announce a U.S. brokerage partner.

The rollout comes as X expands its financial services ambitions, with Musk also preparing to launch X Money, a digital payments platform aimed at offering

peer-to-peer transfers,

e-Commerce,

payments,

debit card services,

yield-bearing accounts,

and now,

market data and

trading services.

X has secured money transmitter licenses in more than 40 U.S. states and registered with the Financial Crimes Enforcement Network, laying the groundwork for broader financial services as it seeks to compete with established finance and trading platforms.

REGULATION | X (Twitter) Acquires 7 Currency Transmitter Licences in the United States

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Russian lawmakers have introduced a draft bill that would criminalize the operation of unregistered cryptocurrency services, tightening oversight of the country’s digital asset sector.

Under the proposal submitted to the State Duma, individuals and entities involved in organizing or facilitating crypto transactions without registration with the central bank could face criminal penalties. These include fines of up to about $4,000 and prison terms of up to four years for basic violations.

Harsher punishments are proposed for large-scale offenses or cases involving organized groups. In such instances, penalties could rise to as much as seven years in prison or compulsory labor for up to five years, along with fines of up to roughly $13,100 or equivalent income-based penalties.

The latest proposed legislation also includes criminal penalties for illegal crypto mining.

The bill forms part of a broader push by Russian authorities to bring crypto activity under tighter state control, requiring operators to register with the Bank of Russia and shifting the industry toward licensed intermediaries.

REGULATION | Russia Approves Draft Bill Prohibiting the Use of Unlicensed Intermediaries Involving Crypto Transactions

The latest development comes after Grinex, a Russia-linked crypto exchange, was hacked with the company forwarding relevant information on the attack to law enforcement while filing a criminal complaint.

CRYPTO CRIME | Russian-Linked Exchange Attacked by ‘Western Intelligence Agencies’ Loosing ~$14 Million

 

 

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A draft law in Rwanda proposes prison sentences of up to five years and fines of up to about $72,000 for companies involved in illegal virtual asset trading, as the government moves to tighten oversight of the sector, according to local reporting.

Under the bill:

individuals operating virtual asset businesses without a licence could reportedly face fines ranging from roughly $21,500 to $36,000 and prison terms of three to five years, while

companies found operating without authorisation risk fines between about $36,000 and $72,000,

according to the draft legislation under parliamentary review.

REGULATION | ‘Crypto Assets are Not Authorized for Payments, FRW Conversion, or P2P Trading with FRW,’ Says Central Bank of Rwanda

The proposed law also targets unauthorised promotion of virtual assets:

individuals advertising such services without a licence could face fines of approximately $3,600 to $7,200 and jail terms of six months to one year, while

companies could be fined between about $7,200 and $14,400.

In addition,

board members of licensed firms who provide false information or obstruct regulators could face fines of roughly $2,100 to $3,600 and prison sentences of six months to two years.

The Virtual Assets Business Bill, approved by Cabinet in March 2026 and currently being scrutinised by lawmakers, aims to regulate digital asset activities, protect investors and safeguard the financial system.

PRESS RELEASE | Rwanda Cabinet Approves Draft Law to Regulate Virtual Assets

While the Act, which is yet to be passed, establishes general principles, implementing regulations after enactment outline technical and operational requirements for the sector. For Randa, the Capital Markets Authority will serve as the main regulator working alongside the National Bank of Rwanda (Central Bank of Rwanda).

Authorities say the legislation is intended to close regulatory gaps that have exposed the public to fraud, including pyramid schemes and fake digital coins, while aligning the country with international standards on financial oversight in a manner similar to traditional financial services.

REGULATION | Kenyan CEOs Now Risk 7-Year Jail Term, Employment Ban, Under Tougher Anti-Terrorism & AML Laws – What This Means for Crypto

 

 

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