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Bitcoin Near $77,000 as Weak ADP Jobs Data Puts Policy Decisions in Focus
Bitcoin traded near $77,000 as central bank rate decisions took center stage. ADP reported private-sector job growth of 38,000, below forecasts and the weakest level since January, CoinDesk reported.
Kalshi Permanently Bans George Santos Over Insider Betting Investigation
Kalshi permanently banned former Republican politician George Santos after an insider-betting investigation and suspended Laurie Buckhout for three years. Cointelegraph described the Santos action as the platform’s first lifetime ban involving a politician.
Global Banks and Asset Managers Join Stablecoin Venture
Citi, Goldman Sachs and other global banks and asset managers are teaming up on a stablecoin venture. The project will begin with a U.S. dollar token for payments and digital-asset settlement, with a euro token planned for expansion.
Singapore proposes full reserves and no-yield rules for stablecoin issuers
Singapore’s financial watchdog has proposed requiring stablecoin issuers to hold 100% reserves and banning yield payments. The framework is described as aligned with U.S. and EU rules and could enable recognition of foreign stablecoins.
Kalshi Bans George Santos for Life After State of the Union Trading Case
Kalshi permanently banned former congressman George Santos after finding he traded heavily on his own State of the Union attendance, made false statements to move prices and earned nearly $18,000, according to Decrypt.
Sberbank Projects $46.4B in Crypto Trading During First Year of Buildout
Russia’s Sberbank estimates $46.4 billion in crypto trading volume during the first year of the country’s market buildout. Bitcoin is expected to be popular as Russia accelerates crypto regulation.
Kalshi Permanently Bans Former Congressman George Santos
Kalshi has permanently banned former congressman George Santos for manipulation, CoinDesk reports. It is the prediction-market platform’s first lifetime ban for a former member of Congress as the industry seeks to address misconduct.
Russian regulated exchanges could handle $46B in crypto trades after legalization
Russia’s regulated cryptocurrency exchanges could process more than $46 billion in trading volume during their first year after legalization, based on an estimate from the country’s largest bank, Cointelegraph reported.
Sberbank plans to accept Ether and USDT as loan collateral, CoinDesk reports
Sberbank plans to add Ether and USDT to the assets accepted as collateral for crypto-backed loans, CoinDesk reports. The plan follows the Bank of Russia’s draft inclusion of both tokens for public trading on Russian exchanges.
Former White House aide fined and barred after earning $107,000 on prediction markets
The CFTC imposed a $65,000 penalty and three-year ban on a former White House aide who reportedly used secret speech text to make $107,000 on prediction markets. The order credited KalshiEX for its assistance.
Sber Plans to Expand Crypto Loan Collateral to USDT and Ether
Sber plans to accept USDT and Ether alongside Bitcoin as loan collateral as Russia introduces regulated crypto trading. The bank has also questioned demand for the digital ruble, Cointelegraph reports.
Swift’s global payments network confronts a blockchain challenge
Blockchain payment infrastructure is challenging Swift’s established role, while bankers argue its 11,500-institution network can absorb the technology. Crypto executives instead see blockchain as a potential replacement for Swift.
Bitcoin Recovers After Initial Drop on Fed Chair’s Inflation Remarks
Bitcoin dropped to $78,630 after Fed Chair Kevin Warsh said he had “more work to do” to fight inflation, then rebounded. The cryptocurrency was recently trading at $79,474, according to Bitcoin Magazine.