MarketsCoinbase Cuts 14% of Staff in AI Restructuring
Coinbase announced the elimination of 14% of its workforce on May 5, about 700 jobs. CEO Brian Armstrong cited a market downturn and AI adoption.
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Markets
RegulationNew York AG Secures $5M From Uphold Over CredEarn Fraud
NY AG Letitia James secured a $5M settlement from Uphold for promoting CredEarn, a crypto savings product with false insurance claims and hidden risks.
RegulationReuters Investigation: Nobitex Founders Tied to Iran Supreme Leader's Family
Reuters: Iran's largest crypto exchange Nobitex was founded by Kharrazi brothers linked to Supreme Leader Khamenei. US seized $500M in Iranian crypto.
StablecoinsBrazil Bans Stablecoins From Regulated Cross-Border Payment Rails
Brazil's central bank (BCB) issued Resolution No. 561, barring USDT and USDC from eFX cross-border settlements. What this means for the stablecoin market.
EthereumEthereum Foundation Sells 10,000 ETH to BitMine in Third OTC Deal
Ethereum Foundation sold another 10,000 ETH to BitMine for $22.9M, its third OTC deal. Total: 25,000 ETH worth ~$57M sold in six weeks.
StablecoinsTether Q1 2026: $1.04B Profit and Formal Audit Begins
Tether reported $1.04B net profit in Q1 2026, record $8.23B excess reserves, and launched its first formal audit. Here is how the business model works.
SecurityApril 2026: $630M in Crypto Hacks - DeFi's Worst Month in 14 Months
Over 25 crypto hacks in April 2026 caused $629.7M in losses, the worst month since February 2025. KelpDAO, Drift, DPRK, and a new attack model explained.
RegulationUS Seized $500M in Iranian Crypto Assets
Treasury Secretary Scott Bessent confirmed the US seized nearly $500M in Iranian crypto assets. Tether froze $344M in USDT at OFAC's request.
StablecoinsMeta Launches USDC Creator Payouts via Stripe
Meta started paying Facebook and Instagram creators in USDC stablecoin via Stripe on Solana and Polygon. Pilot launch in Colombia and the Philippines.