Category: Blockchain

Which senators invest in crypto? 11 lawmakers have blockchain-related investments

As the question of stablecoin regulation heats up in the US Senate, so has the issue of which members are personally invested in cryptocurrencies and cryptocurrency firms. On May 19, the Senate voted to invoke cloture and move ahead with the GENIUS Act, which would provide a regulatory framework for stablecoins. The measure passed 66-32, with 16 Democrats supporting the bill. Democratic concerns over corruption and politicians’ ties to cryptocurrency firms made the bipartisan move controversial. After the vote was finished, Colorado Senator Michael Bennet introduced the STABLE GENIUS Act.…

FIFA taps Avalanche to launch dedicated blockchain for NFT platform

The Federation Internationale de Football Association (FIFA) has selected Avalanche to power its dedicated blockchain network for non-fungible tokens and digital fan engagement, the organization announced on May 22. FIFA’s layer-1 (L1) blockchain will be powered by the Avalanche network’s scalability-focused infrastructure for the association’s five billion fans worldwide. The move comes nearly a month after FIFA announced its initial plans to launch a new network for its blockchain-based collectibles. AvaCloud’s Ethereum Virtual Machine (EVM) compatibility will enable smoother integration with decentralized wallets and applications. Related: Bitcoin hits new all-time…

Feds charge Amalgam founder with stealing $1M via ‘sham’ blockchain

A US grand jury has indicted the founder of blockchain startup Amalgam Capital Ventures over allegations he defrauded investors out of over $1 million with a fake blockchain. Jeremy Jordan-Jones was arrested and indicted on May 21 and charged with wire fraud, securities fraud, making false statements to a bank, and aggravated identity theft, the Department of Justice said on May 21.   Manhattan US Attorney Jay Clayton claimed Jordan-Jones “touted his company as a groundbreaking blockchain startup,” but alleged that, in reality, the “company was a sham, and investors’ funds…

Sui Blockchain Enhances Real-World Asset Integration with OMG Partnership

Zach Anderson May 21, 2025 21:47 Sui blockchain partners with Open Market Group to offer secure access to real-world asset investments, enhancing DeFi opportunities through Soulbound Tokens. The Sui blockchain has announced a significant partnership with Open Market Group (OMG) to enhance its real-world asset (RWA) offerings. This collaboration marks a pivotal step for Sui, a leading Layer 1 blockchain, as it continues to expand its presence in one of the most dynamic sectors within the cryptocurrency landscape, according to the Sui…

Guatemala’s largest bank integrates blockchain for cross-border payments

Guatemala’s largest bank, Banco Industrial, has integrated crypto infrastructure provider SukuPay into its mobile banking app, allowing locals to more easily receive remittances powered by blockchain technology.  SukuPay’s infrastructure has been fully embedded inside the Zigi payment app, allowing Guatemalans to receive funds from the United States instantly for a $0.99 flat fee, the company disclosed on May 21.  Users of the Zigi app do not need a crypto wallet or an International Bank Account Number (IBAN) to receive the funds, the company said.  SukuPay CEO Yonathan Lapchik told Cointelegraph…

Theta Capital raises $175M to back early-stage blockchain startups

Amsterdam-based Theta Capital Management raised over $175 million for its latest fund-of-funds, aimed at supporting early-stage blockchain startups through specialized venture capital (VC) firms. The new vehicle, Theta Blockchain Ventures IV, will channel capital into crypto-native VC firms with a track record of backing blockchain innovation, Theta’s managing partner and chief investment officer Ruud Smets told Bloomberg. Smets said the strategy focuses on specialist managers who can outperform generalist investors in the earliest funding rounds. “We’ve always been looking for areas where specialization and active management provide a sustainable edge,”…

Ripple launches cross-border blockchain payments in UAE

Ripple, the creator of cryptocurrency XRP (XRP), launched cross-border blockchain payments in the United Arab Emirates (UAE), a development that could spur the adoption of cryptocurrency in a country receptive to digital assets. Zand Bank, the UAE’s first all-digital bank, and Mamo, a fintech company that offers a digital payment platform for businesses, will be the principal users of the blockchain payments system, according to a May 19 Ripple announcement. Zand Bank and Mamo will use “Ripple Payments” to facilitate cross-border blockchain payments. Ripple Payments is a platform that combines…

Franklin taps blockchain to offer yield on idle payroll funds

Franklin, a hybrid cash and crypto payroll provider, is launching a new initiative that aims to turn idle-sitting payroll into an opportunity for yield. The new solution, dubbed Payroll Treasury Yield, uses blockchain lending protocols to help firms earn returns on payroll funds that would otherwise sit idle, the company told Cointelegraph in an exclusive statement. Franklin said its new offering integrates Summer.fi, a decentralized finance (DeFi) lending platform, to allow companies to deposit stablecoin-denominated payroll reserves into smart contract-based lending pools. These funds are lent to vetted borrowers, and…

Sei Labs Unveils Whitepaper for Innovative Sei Giga Blockchain

Terrill Dicki May 19, 2025 11:34 Sei Labs introduces Sei Giga, a groundbreaking multi-proposer EVM Layer 1 blockchain, promising significant advancements in transaction throughput and scalability. Sei Labs has released the whitepaper for Sei Giga, its latest blockchain innovation, designed to be the first multi-proposer EVM Layer 1 blockchain. This development promises to enhance transaction throughput and scalability, critical factors for high-performance applications, according to Sei Labs. Key Features of Sei Giga Sei Giga’s architecture is built to address the limitations of…

Wormhole Launches Global Ecosystem Hub to Boost Blockchain Innovation

Lawrence Jengar May 19, 2025 11:08 Wormhole has launched its Global Ecosystem Hub in New York City, aiming to bridge traditional finance with decentralized technologies and strengthen institutional blockchain adoption. The Wormhole development team has announced the launch of their Global Ecosystem Hub in New York City’s Flatiron District, marking a significant step in enhancing the presence of digital assets in the United States. This strategic move aims to bridge traditional finance with decentralized technologies, fostering collaboration and innovation at the heart…