Category: Crypto Flash News

US big banks hold early talks on joint crypto stablecoin: WSJ

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Some of the biggest banking companies in the US are reportedly exploring a team-up to launch a crypto stablecoin. Companies owned by JPMorgan, Bank of America, Citigroup and Wells Fargo have discussed the possibility of jointly issuing a stablecoin, The Wall Street Journal reported on May 22, citing people familiar with the matter. Other financial institutions linked to the potential stablecoin include Early Warning Services, the parent company of digital payments network Zelle, and the payment network Clearing House. The discussions are still in the early stages, and a final…

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UK to require crypto firms to report every customer transaction

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United Kingdom crypto companies will need to collect and report data from every customer trade and transfer beginning Jan. 1, 2026 as part of a broader effort to improve crypto tax reporting, the UK government said. Everything from the user’s full name, home address and tax identification number will need to be collected and reported for every transaction, including the cryptocurrency used and the amount moved, the UK Revenue and Customs department said in a May 14 statement. Details of companies, trusts and charities transacting on crypto platforms will also…

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Animoca eyes New York listing, cites Trump’s crypto-friendly stance

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Hong Kong-based Animoca Brands is preparing for a listing in New York, citing US President Donald Trump’s relaxed regulatory stance on digital assets as a window of opportunity to enter the world’s biggest capital market. Animoca executive chair Yat Siu told the Financial Times that an announcement may be made soon, with the company currently evaluating various shareholding structures. Siu said the decision to pursue a US listing would not hinge on market conditions but rather on timing and strategic positioning. Animoca, which was delisted from the Australian Securities Exchange…

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US banks can handle customer crypto assets held in custody, regulator confirms

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The US Office of the Comptroller of the Currency (OCC) has confirmed banks under its jurisdiction can trade crypto on behalf of customers and outsource some crypto activities to third parties.  Acting comptroller Rodney Hood said in a May 7 letter that banks and federal savings associations can buy and sell crypto they hold in custody at customers’ direction. The OCC added in a press release that financial institutions can also outsource bank-permissible crypto activities, including custody and execution services, to third parties in compliance with applicable law. “Additionally, these…

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Apple softens crypto app rules, ‘hugely bullish’ for crypto industry

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Crypto app developers are now free to direct users to payments outside of Apple’s ecosystem without restrictions or hefty fees, after a United States district judge ruled that Apple violated an injunction in its antitrust legal battle against Epic Games. “The Court finds Apple in willful violation of this Court’s 2021 Injunction, which was issued to restrain and prohibit Apple’s anticompetitive conduct and anticompetitive pricing. Apple’s continued attempts to interfere with competition will not be tolerated,” US district judge Yvonne Gonzalez Rogers said in an April 30 court filing. Apple…

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Coinbase presses to axe rule banning SEC staff from holding crypto

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Coinbase has urged the US Office of Government Ethics to remove a rule banning Securities and Exchange Commission staff from holding crypto. SEC staff need to use crypto to better understand how it works and the best way to regulate it, Coinbase chief legal officer Paul Grewal argued in open letters sent to OGE acting director Jamieson Greer and newly sworn-in SEC Chair Paul Atkins, which he shared to X on April 25. “To regulate technology, you need to understand it. To understand technology, you need to use it,” Grewal…

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Ethereum bounces back as market dominance recovers from all-time low

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Ethereum’s price has surged after having been in the doldrums for weeks, helping boost its market share after it hit record lows. Ether (ETH) has surged almost 15% over the past 24 hours, topping $1,800 on April 23. It has outperformed Bitcoin, which notched a 6% gain, and the wider crypto market, which has climbed almost 5% to reclaim a total market value of $3 trillion.  Ether has now managed to recover almost 30% since its April 9 crash to $1,400, leading some analysts to suggest that the worst may…

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Synthetix’s sUSD stablecoin continues fall after depeg, tapping $0.68

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The Synthetix protocol’s native stablecoin, Synthetix USD (SUSD), has slipped further away from its US dollar peg, reaching new all-time lows under $0.70.  However, the firm reiterates that this isn’t the first time the asset has been under significant stress, and several risk measures are in place. “Synthetix and sUSD have weathered multiple bear markets and periods of stablecoin volatility; this is not the first resilience test,” a spokesperson from Synthetix told Cointelegraph. SUSD down almost 31% from its intended 1:1 peg sUSD is a crypto-collateralized stablecoin. Users lock up…

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Crypto gaming and gambling ads ‘most expensive’ for onboarding users

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Crypto gaming and gambling campaigns are the most expensive way to acquire users with existing crypto wallets, ranking highest in cost among all sectors of the crypto industry, recent data shows. “Gaming and gambling campaigns are the most expensive, with a median CPW of $8.74 and a lower quartile of $3.40,” Web3 marketing firm Addressable co-founder Asaf Nadler said in a recent report posted on X. CPW, or cost per wallet, is deemed a higher “quality” metric because it tracks the cost of website visitors with a crypto wallet already…

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China’s tariff response may mean more capital flight to crypto: Hayes

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China’s response to America’s sweeping trade tariffs could result in capital flight to Bitcoin and crypto, according to BitMEX founder Arthur Hayes. “If not the Fed [Federal Reserve], then the PBOC [People’s Bank of China] will give us the Yahtzee ingredients,” said Hayes on X on April 8 in reference to the catalyst needed to resume the crypto market bull run. Hayes said that if the Chinese central bank devalued its currency, the yuan, the “narrative [is] that Chinese capital flight will flow into Bitcoin,” adding that “it worked in…

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