Author: James Wilson

Kraken’s Etana fraud case alleges a Ponzi-like scheme diverted more than $25m in client funds. Summary Kraken parent Payward filed a second amended complaint in Colorado federal court accusing Etana Custody and CEO Dion Russell of misappropriating over $25m in client funds. The complaint alleges Etana commingled custodial assets with operating funds, made risky bets totaling $16m through Seabury Trade Capital notes, and issued falsified account statements. Etana entered court-supervised liquidation in November 2025 with just $6.83m in cash against more than $26m in liabilities. Kraken’s Etana fraud case alleges a Ponzi-like scheme diverted more than $25m in client funds.…

Trump has abandoned his Iran war maximalist demands as polls drop and peace talks remain deadlocked Summary Trump has quietly dropped demands for Iran’s unconditional surrender and regime change, two of his stated original goals at the start of the war. His approval rating on the Iran war has fallen from 39% in early March to 30% in the latest YouGov survey. A Pew Research survey found 62% of Americans disapprove of Trump’s handling of the conflict, a number that has held steady since March. Trump has abandoned his Iran war maximalist demands as polls drop and peace talks remain…

The White House says voluntary partnerships, not strict mandates, are the right approach to AI regulation. Summary The White House released its National AI Policy Framework in March 2026, favoring voluntary tech agreements over prescriptive federal rules. The framework directs Congress to preempt state AI laws deemed to impose undue burdens on innovation and industry. Democratic lawmakers introduced the GUARDRAILS Act to block federal preemption and preserve state authority over AI oversight. The Trump administration released its National Policy Framework for AI regulation in March 2026, built around voluntary industry agreements rather than top-down mandates. The framework signals a move…

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Crypto conferences filled venues and dominated social feeds in 2025, but fresh traffic data suggests the hype barely translated into meaningful audience growth for crypto media outlets. Crypto conference season was noisy last year. The booths were full, the panels were stacked with premier speakers, and the side events and parties ran late. Social feeds made it look like the entire digital asset market took over conference halls and parts of major cities. So we asked the…

SoftBank has cut a planned OpenAI‑backed margin loan from around $10 billion to roughly $6 billion after banks and private credit funds pushed back on the deal’s structure and the difficulty of valuing OpenAI, an unlisted AI unicorn. Summary SoftBank Group is shrinking a planned margin loan backed by its OpenAI stake from about $10 billion to roughly $6 billion after lenders pushed back. Banks and private credit funds have raised concerns over how to value OpenAI, an unlisted company, and about the structure of the deal. The two‑year loan, extendable by one year, was meant to fuel SoftBank’s next…

MegaETH has activated a MEGA token buyback program funded entirely by net revenue from its USDm stablecoin, turning Treasury‑backed yield into a standing bid for its “real‑time Ethereum” L2 token after a sharp post‑launch selloff. Summary The MegaETH Foundation has kicked off a MEGA token buyback program, completing its first purchase using all net earnings generated by USDm through the end of April. USDm’s current supply is about $480 million, and future MEGA buybacks will run programmatically, with size determined by USDm supply and yield on its reserve assets. The foundation stresses that USDm is not issued or operated by…

Crypto‑forensics-led NSW raid seizes 52.3 BTC as AUSTRAC’s 2026 rules tighten the noose on darknet‑linked exchanges and weakly regulated VASPs. Summary New South Wales police seized 52.3 BTC worth about $5.7 million AUD ($4.1 million) in one of Australia’s largest dark web‑linked crypto busts. Two men were arrested after a 15‑month Strike Force Andalusia investigation into an alleged darknet marketplace dealing in drugs and weapons. The seizure comes as AUSTRAC rolls out tougher AML rules for virtual asset service providers, including mandatory travel rule compliance from July 1, 2026. New South Wales Police say they have seized 52.3 bitcoin linked…

Upbit will add Pharos to its KRW, BTC, and USDT markets on May 8, giving Korean traders new spot access to PROS.  Summary PROS jumped 47.8% to $0.9457 after Upbit and Bithumb expanded Korean market access. Pharos trading volume rose 209.6% to $28.7 million as listing momentum boosted activity. CoinGecko ranked PROS at #255, with a $127.5 million market cap after the rally. The exchange notice said trading support was scheduled for 8:30 p.m. Korea time. Deposits and withdrawals are expected to open within one hour and 30 minutes after the notice. Upbit said users must send PROS through the…

U.S. voters have increasingly tied support for crypto regulation to electoral choices as a new HarrisX survey showed bipartisan backing for the CLARITY Act ahead of a possible Senate Banking Committee markup next week. Summary 52% of U.S. voters backed the CLARITY Act in a new HarrisX survey conducted between May 1 and May 4. Nearly half of respondents said support for crypto regulation could influence how they vote across party lines. Senate Banking Committee members are preparing for a possible CLARITY Act markup during the week of May 11. According to HarrisX, 52% of 2,008 registered voters surveyed between…

Kraken parent Payward has agreed to acquire Hong Kong-based Reap Technologies for up to $600 million, adding card issuance and cross-border stablecoin payment infrastructure to its expanding business services platform. Summary Payward agreed to acquire Hong Kong-based Reap Technologies for up to $600 million. Reap’s payment infrastructure will be integrated into Payward Services to support stablecoin settlements and global card payments. The acquisition follows Payward’s recent Bitnomial and NinjaTrader deals as the company expands regulated financial infrastructure services. Payward announced Thursday that the transaction will be paid through a mix of cash and company stock, valuing the firm at $20…