Philippines Crypto Firms Now Face New Stringent Regulations, Disclosure Requirements

A Chinese fugitive, Tianwei, was arrested at Don Mueang Airport while trying to flee to Singapore, ending a manhunt linked to millions in stolen Bitcoin. The arrest followed a month-long search initiated after two victims reported losing $6.15 million in Bitcoin to Tianwei.

Coinbase has introduced its first branded credit card, offering up to 4% Bitcoin back on purchases exclusively to U.S.-based Coinbase One customers. The subscription service includes zero trading fees and enhanced staking rewards, with plans to potentially expand rewards to other cryptocurrencies in the future.

Mattel has partnered with OpenAI to create AI-powered products, marking OpenAI's move into consumer entertainment. Safety, privacy, and age-appropriate design are key to the collaboration, with the first product expected later this year.

A joint motion by the SEC and Ripple Labs seeks to dissolve an injunction and release $125 million held in escrow. Ripple would pay a $50 million civil penalty, with the rest returned to the company, pending approval by U.S. District Judge Analisa Torres.

Shaquille O’Neal has agreed to pay $1.8 million in a class action lawsuit related to promoting the collapsed crypto exchange FTX. The settlement, pending court approval, would cover legal fees, administrative costs, and compensation for affected investors.

Multiple crypto ETF applications, including Dogecoin and HBAR, face extended review periods by the U.S. Securities and Exchange Commission. The SEC has postponed Solana ETF proposals to July 2025 and requested additional public comments for various ETFs.

Bitcoin experienced a more than 4% drop following Israel's airstrikes on Iranian targets, leading to a broader selloff in risk assets. The cryptocurrency fell to $103,556 from a 24-hour high of $108,500, as tensions escalated in the Middle East.

Trident, a publicly traded technology services company, intends to raise $500 million for an XRP treasury, with plans to implement it by the second half of 2025. Other firms like Wellgistics Health and Webus have also announced similar initiatives recently.

Over $1 billion worth of crypto positions have been liquidated in the past day, with Bitcoin leading at $317 million. Ethereum follows with $151 million in liquidations, while Solana, XRP, and Dogecoin also see significant losses.

FIFA Rivals, a new mobile blockchain game by Mythical Games, is expected to have a significant impact due to its licensing agreement with Adidas and the global popularity of soccer. The game has attracted interest from major brands, athletes, and even government entities, Mythical Games co-founder and CEO John Linden told Decrypt.